Global 5G Technology Market Poised for Growth in Developed Economies

  • Posted by Pragati P
  • June 2, 2016 7:21 AM BST

In its latest report, titled “5G Technology Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 – 2023,” Transparency Market Research (TMR) studies the growth prospects of the fifth-generation (5G) technology market in the forthcoming years. The report presents a comprehensive overview of the global 5G technology market, covering aspects such as the technology’s definition and attributes, market segmentation, and the factors impacting its growth between 2015 and 2023.

 Every decade or so, a major development occurs in the world of internet connection and mobile technology. The advent of a new generation of internet network technology is expected at least once a decade to fix the flaws of its predecessor. Now, ahead of the turn of a new decade, 5G technology is emerging as the next big change to the hit the virtual world. While the wireless industry is currently experimenting with the fifth generation of wireless technology, several companies and government institutions are already laying the groundworks to support 5G technology.

5G technology is expected to be faster and will consume less power than its predecessors, which are the key factors boosting the growth prospects for the global 5G technology market. The report studies the opportunities ahead of the 5G technology industry in a ground-up manner. To present a granular analysis, it segments the 5G technology market in terms of technology and geography.

 Based on technology, the market is segmented into radio access technologies (RAT), Wi-Fi, worldwide interoperability for microwave access (WiMAX), global system for mobile (GSM), and high speed package access (HSPA). In order to be compatible with 5G technology and accommodate a novel mobile access paradigm, RAT systems require to be completely redesigned. The market is, therefore, likely to witness major breakthroughs in wireless networking, rendering support to fast network speeds and massive capacity. This subsequently will drive the expansion of the global 5G technology market.

 Regionally, the global 5G technology market is segmented into North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa. The opportunities for the proliferation of 5G technology are the most lucrative in developed economies such as the U.S. and Japan. The Federal Communications Commission (FCC) in the U.S. has already begun an assessment of the allocation of 5G frequencies. Korea and China, in the meantime, are also experimenting on incorporating the technology in their network landscape.

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The leading enterprises in the mobile technology and wireless network market are contemplating launching products compatible with 5G technology by 2020. Some of the prominent universities and companies operating in the market profiled in the report include Deutsche Telekom AG, Alcatel-Lucent S.A., MW Group Research and Technology, NTT DOCOMO Inc., Aalborg University, Huawei Technologies Co. Ltd., and others.