5G Market is expected to register a CAGR of 47.6% and hold a value of over USD 198.44 billion from 2020 to 2030

Market Research Future Insights

According to MRFR analysis, the global 5G Market is expected to register a CAGR of 47.6% from 2021 to 2030 and hold a value of over $USD198.44 billion by 2030.

The fifth-generation technology standard for broadband cellular networks is recognized as I5G. It is intended to enhance wireless service speed, reduce latency, and upsurge flexibility. The theoretical highest speed of 5G technology is 20 Gbps, whereas the highest speed of 4G is only 1 Gbps. 5G takes connectivity to the next level by distributing cloud-based experiences to clients. 5G networks are software-driven and visualized, and they make use of cloud technologies.

Rising demand for IoT-connected devices, growing adoption of mobile broadband as well as rising device-to-device communication, and rapid innovation virtualization in the networking domain are driving the growth of the 5G Technology Market. 

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Key Players:

Vodafone Group PLC (UK)

AT&T Inc. (U.S.)

Bharti Airtel Limited (India)

LM Ericsson (Sweden)

Verizon Wireless (U.S.)

Huawei Technologies Co. Ltd. (China)

NTT DOCOMO Inc. (Japan)

Alcatel-Lucent (France)

China Mobile Ltd. (China)

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Market Segmentation

The global 5G Market has been segmented into connectivity, application, and end-user.

Based on Connectivity, The global 5G Market has been segmented into Enhanced Mobile Broadband (eMBB), Ultra-Reliable Low Latency Communication (URLLC), and Massive Machine Type Communication (MTC). The Enhanced Mobile Broadband (eMBB) segment conquered the highest market share owing to this offering better data bandwidth complemented by modest latency improvements in 5g networks and 360-degree streaming video services.

Based on Application, The global 5G Market has been segmented into Connected Vehicles, VR & AR, Enhanced Video Services, and Others. The Connected Vehicles Services segment dominated the highest market share owing to 5G Technology being vital for the efficient operation of connected vehicles by allowing vehicle-to-vehicle and vehicle-to-infrastructure communication.

Based on End Users, The global 5G Market has been segmented into IT & Telecom, Automotive, Government, and Others. The IT & Telecom segment dominated the maximum market share owing to growing investments by key players in the latest technologies for communication, rising demand for high data speed, and increasing need for enhanced broadband capacity.

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Regional Analysis

Asia Pacific held the major revenue share and is anticipated to maintain the lead throughout the estimated period owing to growing investments by the key players of the market for the 5G infrastructure in developing regions such as China, Japan, etc., and growing demand for smartphones.

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Tags: 5G Market demand, 5G Market, 5G Market Growth, 5G Market Share, 5G Market Scope, 5G Market 2030, 5G Market Analysis, 5G Market Size See Campaign: https://www.marketresearchfuture.com/reports/5g-market-2630

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