The 5G equipment market size is poised to grow at a CAGR of nearly 71% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report
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Technavio has announced its latest market research report titled global 5G equipment market 2019-2023. (Graphic: Business Wire)
Smart cities involve the use of several information and communication technologies incorporated to develop a connected and harmonized public infrastructure. The adoption of 5G networks will facilitate the implementation of Massive Machine Type Communications (MMTC), which will allow large-scale machine-to-machine communications, with minimum human input leading to the realization of various smart city applications. Thus, the adoption of 5G networks for smart cities will be one of the major factors behind the 5G equipment market growth.
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As per Technavio, the growing focus on developing unified 5G standards will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
5G Equipment Market: Growing Focus on Developing Unified 5G Standards
The development of the 5G technology has increased focus on the unification of 5G standards across the globe. In March 2017, major telecommunications companies and 5G equipment manufacturers such as Huawei Technologies and Nokia jointly agreed to promote unified global 5G standards, at the Global 5G Test Summit 2017 held in Barcelona. The standards aim to create a unified E2E ecosystem that includes specifications for the chipset, terminal, network, and test instrument. The implementation of these standards will aid in enhancing the adoption of 5G networks across the globe, bolstering the growth of the global 5G equipment market during the forecast period.
“Other factors such as the growing number of pre-commercial 5G trials, and strategic collaboration among market participants will have a significant impact on the growth of the 5G equipment market value during the forecast period,” says a senior analyst at Technavio.
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5G Equipment Market: Segmentation Analysis
This market research report segments the 5G equipment market by product (microcell, small cell, and others) and geographical regions (APAC, EMEA, and Americas).
The Americas held the largest share of the market in 2018, followed by EMEA and APAC respectively. The growth of the 5G equipment market share in the Americas can be attributed to several factors such as the high investment in 5G network infrastructure, and the increase in the adoption of technologies such as IoT, machine-to-machine communication, self-driving automobiles, and smart cities among others.
Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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