Global 5G Technology Market Report 2022
New York, Sept. 23, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the “5G Technologies Global Market Report 2022” – https://www.reportlinker.com/p06320347/?utm_source=GNW
11 billion in 2022 at a compound annual growth rate (CAGR) of 48.8%. The 5G technology market is expected to reach $99.76 billion in 2026 at a compound annual growth rate (CAGR) of 34.9%.
The 5G technology market consists of the sale of 5G technology services by entities (organizations, independent marketers, partnerships) that deliver faster download speeds, low latency, and more capacity and connectivity for billions of devices . 5G technology is the next generation of wireless communications that is expected to provide internet connections approximately 40 times faster than 4G LTE technology.
5G technology can use various bands of spectrum, including millimeter wave (mmWave) radio spectrum, with the ability to carry a very large amount of data over a short distance.
The main types of chipsets in 5G technologies are ASIC chips, RFID chips, millimeter wave technology chips, and field programmable gate arrays (FPGAs). An ASIC, or application-specific integrated circuit, refers to a microchip designed for a special application, such as some kind of transmission protocol or a handheld computer.
The communication infrastructure is a small cell, a macro cell and a radio access network (ran). Core networking technologies are Software Defined Networking (Sdn), Network Functions Virtualization (NFV), Mobile Edge Computing (MEC), Fog Computing (FC), and Antenna System distributed (DAS).
The various end users affected are automotive, industrial, consumer electronics, healthcare, energy and utilities, and other end users.
North America was the largest region in the 5G technology market in 2021. Regions covered in the 5G technology report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East and Africa.
Increase in government initiatives to promote and deploy emerging 5G technology is expected to propel the growth of 5G technologies market, primarily because 5G technology has a significant impact on mobile networks, physical networks, IT facilities, hosting and deployment. systems and orchestration of services and infrastructure.
It has become imperative for every government to ensure that 5G technology reaches its maximum potential as it supports thousands of new applications for consumers and businesses in the manufacturing, energy, healthcare markets. and automotive. For example, the Chinese government plans to launch commercial deployments of 5G by 2020 with a 3400-3600 MHz band.
The government also plans to use 25 and 40 GHz frequency spectrum to ensure high-speed internet throughout the country. Similarly, carriers AT&T, Verizon, T-Mobile and Sprint plan to introduce their 5G mobile networks in the United States in 2019.
Hence, the increase in government initiatives is driving the growth of the 5G technology market.
Security and privacy concerns are a significant constraint for the 5G technology market. This is mainly due to the fact that the 5G technology market is facing both standard and sophisticated cybersecurity threats, and user data security is becoming a critical challenge for the 5G wireless transmission system/infrastructure. due to the large number of devices connected to the network and the diversity of technology.
For example, according to experts at the Canadian Wireless Telecommunications Association event in 2019, 5G networks have 200 times more attack vectors, or paths to access a network, than their 4G predecessors.
Growing collaborations between 5G technology companies is an emerging trend in the 5G technology market. This is mainly because these companies are focused on developing strong 5G infrastructure and facilitating innovative platforms, sharing their resources, knowledge, technology and costs.
Such collaborations are also useful for companies in the event of expired licenses, lack of technological know-how and strict regulatory environment. For example, in February 2019, Ericsson partnered with Intel Corporation to develop the next-generation hardware management platform that will provide transparency, agility, and efficiency for 5G, distributed cloud, and network functions virtualization (NFV). .
Likewise, AT&T entered into a collaboration with Rush University Medical Center to bring the first 5G-enabled hospital to the United States, in January 2019.
The market for 5G technologies is governed by the European Electronic Communications Code (CEEC) which establishes the regulations for 5G technologies within the European Union. For example, in.
March 2022, As a result, the EU passed regulations to speed up 5G network installations by simplifying the deployment of small cell antennas that provide the last mile for 5G networks. The regulations define the physical and technical characteristics of small cells, setting strict limits on their size and power, exempting them from planning permission (while retaining national control) and treating their appearance to make them less visible.
Therefore, such regulations would benefit 5G technology companies and drive the market for 5G technologies.
In June 2022, Qualcomm, a US-based semiconductor company, acquired Cellwize Wireless Technologies Pte.Ltd for an undisclosed amount.
The acquisition is expected to bolster Qualcomm Technologies’ 5G infrastructure solutions to fuel the digital transformation of industries, power the connected smart edge, and support the growth of the cloud economy.Cellwize Wireless Technologies Pte.
Ltd is a Singapore-based telecommunications service provider.
Countries covered in 5G technology market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK , United States.
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