Next Generation Communication Technologies Market is Projected to Grow at a Healthy CAGR During 2015 - 2021

Next generation communication technologies can also be termed as advanced communication technologies. Over the years communication technology has evolved drastically with increasing technological advancement in internet and other supporting communication technologies. Next generation communication technologies helps in minimizing communication gap and improve the quality of communication. In recent period, next generation communication technologies are expected to play key role in development of various verticals.

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Global next generation communication technologies market is expected to grow rapidly during the period of forecast. Factors which are driving the growth of next generation communication technology market are technological advancement such as Internet of Things (IoT), e-commerce and big data, which results into increasing demand of advanced communication technology. Mobile and wireless communication market is growing rapidly which further boost the growth of next generation communication technology market. Rapidly changing technology, growing consumer demands and frequent introduction of new products and services have fuelled the growth of global next generation communication technology market. On the other hand factors which are restraining the growth of next generation communication technology market are high infrastructural and development cost.

Global next generation communication technology market is segmented on the basis of types of communication technologies and applications. On the basis of type of communication technology the market is segmented into Wired and wireless communication technology. Further, the wired communication technology market is sub segmented into twisted wire and optical fibre communications. Wireless communication technology is sub segmented into 5G, 4G LTE, WiMax, Wi-Fi, ZigBee, LiMAX, Bluetooth and others.

On the basis of application, global next generation communication technology market can be segmented into telecommunication, consumer electronics, healthcare, security & surveillance, automotive, industrial and military application. Out of all these applications, present next generation communication technology market is dominated by consumer electronics applications. Aggressive consumer adoption of wireless devices and increasing demand of faster data speed have encourages the growth of consumer electronics application of next generation communication technology market.

On the basis of region, the next generation communication technology market can be segmented into seven regions namely, North America, Latin America, Western Europe, Asia Pacific (excluding Japan), Japan as a separate region, Eastern Europe and Middle East & Africa. Out of all these regions present next generation communication technology market is dominated by developed regions such as North America and Western Europe. It is mainly because of high technological advancement and infrastructural investment in communication technologies in countries such as U.S., Canada, U.K. and Germany. However, during the period of forecast Asia Pacific region is expected to grow rapidly, growing technological developments, increasing consumer spending’s and rising investment in communication infrastructures are some of the factors increasing the demand of next generation communication technologies in Asia Pacific region.

Recently, global next generation communication technologies market have witnessed various technological developments which helps in fuelling the growth of market. In December 2014, Bluetooth Special Interest Group introduced a new standard for Bluetooth devices i.e. Bluetooth 4.2. This new standard provides speed and privacy features. In November 2014, ZigBee alliance released a new standard for ZigBee products. This standard provide features such as interoperability among extensive range of smart devices and consumer access to various innovative products as well as services that will work together flawlessly. These are few example of latest innovation and development into global next generation communication technology market

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Key players in global next generation communication technology market are AT&T Inc., Verizon, Huawei Technologies Co., Ltd., Devicescape Software, Inc., Green Packet Berhad and others. These key players are focusing more on improving communication quality by eliminating communication gaps and improving user experience.

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