5G Technology Market: Present Scenario and the Growth Prospects with Forecast 2024

As high speed internet and data connectivity becomes one of the most important entity, deemed as necessary for the survival of toady’s digitally advanced workplaces as food for the survival of living beings, research activities focused on the development of next-level wireless broadband technology are becoming more intense and wide-ranging. With 3G having become the de-facto wireless broadband technology and 4G rapidly expanding its horizons across numerous applications and regional markets, the focus has naturally shifted on the development of the 5G technology – the next face of development across the highly dynamic broadband industry.

This report on the global 5G technology market presents a thorough overview of the present state of technological advancements in the field and predicts the future scope of development over the period between 2016 and 2024. The report gives detailed insights into the vendor and competitive landscape of this yet-to-be-marketed technology, profiling the developments achieved by notable bodies operating in the market through their research and development work.

The study also provides a thorough overview of the key aspects expected to have a significant influence on the overall development of the market in the future years. As such, factors such as drivers, restraints, key trends of past and present times, regulatory obligations, and level of competition are explored in depth. Qualitative as well as quantitative details pertaining to the key segments of the market and these factors and the growth prospects of the market across key regional markets are also examined in the study.

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Global 5G Technology Market: Growth Opportunities

The vast consumer demand for high speed data connectivity, across developed as well as developing countries across the globe, the increased proliferation of mobile and connected devices across a number of industries, and rapid technological advancements in the field of sensors and semiconductors are all conducive for the 5G technology market. Looking at the immense growth prospects that the market is expected to witness in the coming years, a large number of companies are entering into the field.

To gain an edge in this technology, which is expected to be faster and less power consuming than most of the present wireless broadband technologies in commercial usage, many governments and educational institutions have started to lay the ground for 5G. Such widespread research activities are expected to have a huge positive influence on the overall development of the technology in the near future.

Global 5G Technology Market: Segmentation

The report segments the global 5G technology market on the basis of technology into categories such as Wi-Fi, HSPA (high speed package access), RAT (radio access technologies), GSM (global system for mobile), and WiMAX (worldwide interoperability for microwave access). On the basis of geography, the market across regional markets such as Europe, North America, Asia Pacific, Latin America, Middle East, and Africa is analyzed. Of the key countries examined for the 5G market under these regional markets, the 5G technology is expected to gain the most promising returns in the U.S. and Japan. The Federal Communications Commission (FCC) in the U.S. has also begin to assess the allocation of frequencies to 5G networks. Countries such as Korea and China have also begun experiments involving the actual application of 5G across numerous areas.

Companies Profiled in the Report

Some of the key companies and universities actively associated with research and development in the 5G technology are Deutsche Telekom AG, Nokia Siemens Networks, Telecom Italia, Huawei Technologies Co. Ltd., Orange S.A., Alcatel-Lucent S.A., Qualcomm Inc., BMW Group Research and Technology, KTH – Royal Institute of Technology, Aalto University, Fraunhofer-Gesellschaft, National and Kapodistrian University of Athens, University of Bremen, Chalmers University of Technology, Samsung, University of Oulu, RWTH Aachen University, and Ericsson.

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