Market Overview:
MarkNtel Advisors has released a new report that highlights the strong growth trajectory of the 5G Infrastructure Market, The Global 5G Infrastructure Market is projected to grow at a CAGR of around 65% during the forecast period, i.e., 2023-28. Various factors are attributed to the growth of the market like growth in automobile production, growing focus on lightweight & sustainable materials, rising demand for luxury & customized interiors, increasing focus on safety standards, and the adoption of Advanced Driver Assistance Systems (ADAS). The report provides valuable insights into the drivers, trends, and challenges shaping the future of the 5G Infrastructure Market. It offers an in-depth look at the key players, geographical performance, and the segments leading the charge in market share.
Industry Outlook & Forecasts:
- Forecast Period: 2023-2028
- CAGR (2023-2028): 65%
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Global 5G Infrastructure Market Segmentation Breakdown:
The 5G Infrastructure Market explores the industry by emphasizing the growth parameters and categorizes including geographical segmentation, to offer a comprehensive understanding of the market dynamic. The further bifurcations are as follows:
- By Spectrum
- Sub–1 GHz
- 1 to 6 GHz
- Above 6 GHz
- By Communication Infrastructure
- RAN
- Transport Network
- Core Network
Here, the Radio Access Network (RAN) acquired the largest market share in the historical period. It owes principally to the robust deployment of virtual and centralized RAN among network service providers to make the overall infrastructure cost-effective.
- By Application
- Automotive
- Autonomous Driving
- Smart Navigation
- Digitalized Logistics
- Energy & Power
- Smart Grid
- Smart Meters
- Industries
- Machine to Machine (M2M) Communication
- Remote Machinery
- Consumer Electronics
- Smart Handheld Devices
- Immersive Technology Devices (AR & VR)
- Others
- Automotive
Amongst all, the industrial segment dominated the Global 5G infrastructure market in the historical period owing to the constant innovation in communication technologies such as IoT and M2M.
Geographical Growth Insights:
- By Region
- North America
- South America
- Europe
- The Middle East & Africa
- Asia-Pacific
Among all, North America acquired the leading position in the historical period and is expected to prevail in the same trend on account of steady investment by communication service providers toward 5G infrastructure across the US.
MarkNtel Advisors Highlights Key Market Drivers for 5G Infrastructure Market:
Expanding Virtual Networking Architectures in Telecommunications
Currently, the networks are being implemented using various hardware intended for purpose-specific applications. Besides exhibiting an inability to expand, these types of hardware are costly to maintain and manage. Moreover, the lifespan of devices is also minimal. Therefore, in the 5G infrastructure, it is crucial to create a flexible & agile network structure that is easily altered and built as per the needs, enabling thousands of gadgets to connect in the future. This is possible via software-based networking techniques like virtualization of network functions (NFV) & software-defined network (SDN). SDN & NFV enable network flexibility by dividing networks into virtual elements. Additionally, the 5G network slicing can allow network operators to use only the features needed to serve specific clients and certain market segments. Therefore, these software-driven network technologies would accelerate the growth of the market for 5G infrastructure in terms of speed of deployment & the efficient operation of the 5G network.
A Comprehensive Analysis of Leading Companies in Global 5G Infrastructure Market
Hardware Providers
- Intel Corporation
- Qualcomm Technologies Inc
- Mediatek Inc
- Huawei Technologies Co. Ltd
- Samsung Electronics Co. Ltd
Networking Providers
- Telefonaktiebolaget LM Ericsson
- Cisco Systems Inc.
- Nokia
- Huawei Technologies Co., Ltd.
Network Providers
- Verizon Communications Inc
- AT&T Inc
- NTT Docomo Inc
- Orange
- Vodafone Group Plc
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Recent Developments in the Global 5G Infrastructure Market
- In October 2022, Ericsson entered into a long-term strategic 5G contract with Reliance Jio Infocomm Ltd. (Jio) to roll out a 5G Standalone in India. These companies came together for radio access network deployment in the country for the first time.
- In June, 2022, Cisco announced its plan reagrding the delivery of Cisco Private 5G services to a broad set of government entities. For this, it expanded its relationship with General Dynamics Information Technology (GDIT).
What are the Growth Restraint driving the Global 5G Infrastructure Market?
Inadequate Standardization of Spectrum Allocation
Using more frequencies is one of the considerable advantages of 5G networks. But, all bands (radio spectrum) are being used for different purposes, like telecom services and government agencies. And accessing these spectrums at high frequencies is vital to 5G technology development. However, because it’s already allocated to various applications, there needs to be more clarity regarding access to such frequency bands. Moreover, there is yet to be a specific timeframe for when wireless companies will be granted access to these frequencies to establish 5G technology. Although various government agencies are proposing different rules in all regions to resolve such conflicts, these factors, until then, are expected to impede the market growth.
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