Global 5G wireless ecosystem market to expand at 60% CAGR through 2026

May 04, 2020


As per the report titled ‘Global 5G wireless ecosystem Market Size study, by Type (Service Revenue and Subscriptions), By Application (Commercial, Government and Others) and Regional Forecasts 2019-2026’, available with Market Study Report LLC, global 5G wireless ecosystem market was worth USD 16.88 billion in 2018 and is projected to grow exponentially with a CAGR of 60% during 2019-2026.
 

Increasing use of mobile devices coupled with several R&D initiatives undertaken by the government for promoting the adoption of 5G technologies are the primary growth drivers of global 5G wireless ecosystem market.
 

Deployment of 5G technology will allow for effective connectivity management of numerous machine-to-machine devices. This factor along with advantages of 5G network over 4G network including higher data transmission speed and efficiency are bolstering the demand for 5G wireless ecosystem.
 

Citing an instance, federal government of UK announced an investment of about 40 million pounds for 5G testing and trail projects across the country, hence enhancing mobile connectivity. Moreover, the government has already delivered on its vision to make about 500MHz of public sector spectrum accessible for commercial use by the end 2020 and would continue to work with departments to make more spectrum available for use, thereby paving the way for expansion of 5G network coverage. Hence, sustaining investments and government initiatives will continue to play a key role determining the industry outlook.
 

On the other hand, growing concerns regarding data security and privacy may impede the industry growth over the forecast period.
 

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Considering the geographical landscape, key contributors in global 5G wireless ecosystem industry are Asia Pacific, North America, Europe, Latin America and Rest of the World. North America market is predicted to see prominent gains during 2019-2026. The growth is attributable to high usage of smartphones, rising penetration of connected devices and dense presence of prominent players in the region.
 

Meanwhile, Asia-Pacific market is anticipated to garner significant returns in the coming years, owing to government support for the adoption of 5G technology primarily in China and India.
 

Prominent players in global 5G wireless ecosystem market are Sprint Corporation, Ericsson, Samsung Electronics, Verizon Communications Inc., Qualcomm, Nokia Corporation, ZTE Corporation, Etisalat Corporation, AT&T Inc. and Vodafone Group Plc.