May 04, 2020
According to the research report titled ‘Global 5G Base Station Unit Market Size study, By Application (Industrial IoT, Medical Devices, Smart Home/Building, Smart Cities and Others) and Regional Forecasts 2019-2026’, available with Market Study Report LLC, global 5G base station unit market was worth USD 10.24 billion in 2018 and is reckoned to witness a y-o-y growth rate of 50.11% through 2026.
Notably, a 5G base station connects various wireless devices to a centralized wireless receiver. It widens the network coverage which further enhances the user experience. Global digitalization, in tandem with consumer preference for high-speed connectivity is propelling the growth of 5G base station unit market.
Numerous industry verticals including transportation, entertainment and retail will benefit from robust advancements in communication and mobile network. Citing an instance, Safe at Last, Inc. estimates that overall deployment of IoT connected devices to reach USD 75 billion by the year 2025. Rising penetration of IoT devices coupled with growing demand for content streaming services is fueling the market size.
There has been an upsurge in demand for high speed internet solutions for incorporating advanced technologies in various sectors. Adoption of edge computing technologies is stimulating the industry outlook. However, high implementation costs and O&M complexities associated with 5G base station unit may refrain the industry growth.
Based on the application spectrum, the market is bifurcated into smart cities, smart home/building, medical devices, industrial IoT and others.
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As per the regional analysis, Europe is predicted to hold a substantial share in global 5G base station unit industry by the year 2026, primarily due to rising adoption of IoT and wearable technology. However, Asia-Pacific 5G base station unit industry is poised to record a remunerative growth rate during the forecast period. Favorable government initiatives and increasing 5G trails are promoting the business scenario in Asia-Pacific.
Samsung Group, ZTE Corp., Nokia Corp., Ericson and Huawei Technologies Co. Ltd. are the prominent companies operating in worldwide 5G base station unit market.