5G Technology Market Projected to Reach $667.9 Billion By 2026, Says Allied Market

5G Technology

5G Technology

Surge in demand for low latency connectivity for industrial automation processes & increase in content streaming service demand propel the growth of the market.

PORTLAND, OREGON, UNITED STATES, October 19, 2020 /EINPresswire.com/ — The 5G Technology market is expected to witness considerable growth due to the rise in number of IoT devices and adoption of edge computing, surge in demand for content streaming services, and increase in demand for low latency connectivity in industrial automation globally, which propels its adoption. 5G technology is expected to redefine communication, entertainment, and how people connect to the internet.5G technology can operate in mmwave bands i.e. within the high-frequency spectrum ranging from 24 to 100 GHz that facilitates faster data delivery.

The global 5G technology market generated $5.54 billion in 2020 and is expected to generate $667.9 billion by 2026, registering a CAGR of 122.3% from 2020 to 2026.

Download Sample Report: https://www.alliedmarketresearch.com/request-sample/2070

The report divides the offering segment into hardware, software, and services. The hardware segment held more than half of the total market share in 2020 and is estimated to maintain its dominant position by 2026. This is attributed to 5G hardware easing up the edge processing and leading to low levels of latency. However, the services segment is expected to grow at the highest CAGR of 133.1% from 2020 to 2026, owing to an increase in innovation across the globe and the adoption of novel technologies in smart cities.

Key market players discussed in the report are Deutsche Telekom AG, Huawei Technology, Ericsson, Orange S.A., Nokia, Telecom Italia, Qualcomm Inc., T-Mobile, Telstra, and Intel Corporation. They have adopted various strategies including mergers & acquisitions, collaborations, partnerships, and others to gain a stronghold in the industry.

Inquire more about this report before making a decision to purchase: https://www.alliedmarketresearch.com/purchase-enquiry/2070

Geographically, the Asia-Pacific region held nearly two-fifths of the market share in terms of revenue in 2020. Moreover, Asia-Pacific region is expected to grow at the highest CAGR of 130.7% from 2020 to 2026. This is due to supportive government initiatives in emerging economies for deploying 5G spectrum along with new entrants preferring to establish their presence in the region. The research also analyzes Europe, Asia-Pacific, and LAMEA regions.

The end use segment is segmented based on manufacturing, energy & utilities, automotive, healthcare, transportation & logistics, media & entertainment, government, and others. The manufacturing segment would contribute nearly one-fifth of the total share in 2020, and will maintain its lead status during the forecast period, owing to the growth of the industry of refurbished robots. However, the automotive segment is expected to witness the highest CAGR of 130.3% from 2020 to 2026, owing to rise in smart cities and increase in demand for connected cars that utilizes internet of things (IoT).

Access full summary at: https://www.alliedmarketresearch.com/5g-technology-market

Similar Reports:

Artificial Intelligence (AI) Market to Garner $169,411.8 Million by 2025
Hybrid Cloud Market Expected to Reach $171,926 Million by 2025
Facial Recognition Market is Expected to Reach $9.6 Billion by 2022

About Us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP, based in Portland, Oregon. AMR provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

AMR introduces its online premium subscription-based library Avenue, designed specifically to offer cost-effective, one-stop solution for enterprises, investors, and universities. With Avenue, subscribers can avail an entire repository of reports on more than 2,000 niche industries and more than 12,000 company profiles. Moreover, users can get an online access to quantitative and qualitative data in PDF and Excel formats along with analyst support, customization, and updated versions of reports.

David Correa
Allied Analytics LLP
+1 800-792-5285
email us here
Visit us on social media:
Facebook
Twitter
LinkedIn

Avenue.! An Online Subscription Based Library of Reports – Allied Market Research


Source: EIN Presswire