NEW YORK, September 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 market for 5G technologies is expected to grow to US$99.76 billion by 2026 at a compound annual growth rate (CAGR) of 34.9%.
The market for 5G technologies consists of companies (organizations, sole traders, partnerships) selling 5G technology services that offer faster download speeds, low latency and more capacity and connectivity for billions of devices. 5G technology is the next generation of wireless communication that is expected to enable internet connections that are around 40 times faster than 4G LTE technology.
5G technology can use different frequency bands, including the millimeter wave (mmWave) radio spectrum, with the ability to transmit a very large amount of data over a short distance.
The main chipset types of 5G technologies are ASIC chips, RFID chips, millimeter wave technology chips and field programmable gate arrays (FPGA). An ASIC, or application-specific integrated circuit, refers to a microchip designed for a specific application, such as a type of transmission protocol or as a handheld computer.
The communication infrastructure is a Small Cell, Macro Cell and Radio Access Network (Ran). The core network technologies are Software Defined Networking (Sdn), Network Functions Virtualization (NFV), Mobile Edge Computing (MEC), Fog Computing (FC) and Distributed Antenna System (DAS).
The various end users involved are automotive, industrial, consumer electronics, healthcare, energy and utilities, and other end users.
North America was the largest region in the 5G technologies market in 2021. The regions covered in the 5G Technologies report are Asia Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The increase in government initiatives to promote and adopt the emerging 5G technology is expected to fuel the growth of the 5G technologies market. This is mainly because 5G technology is having a significant impact on cellular networks, physical networks, computing facilities, hosting and deployment systems, and service and infrastructure orchestration.
It has become imperative for any government to ensure that 5G technology reaches its maximum potential as it supports thousands of new consumer and business applications in the manufacturing, energy, healthcare and automotive markets. For example, the Chinese government expects an initiative of commercial rollouts of 5G by 2020 with a 3400-3600 MHz band.
The government also plans to use a spectrum of 25 and 40 GHz frequencies to provide high-speed internet nationwide. Similarly, phone carriers AT&T, Verizon, T-Mobile, and Sprint all plan to roll out their 5G mobile networks in the US in 2019.
Hence, the increase in government initiatives is driving the growth of the 5G technology market.
Security and privacy concerns are a major barrier to the 5G technology market. This is mainly because the 5G technologies market faces both standard and sophisticated cybersecurity threats, and user data security becomes a critical challenge for the 5G wireless transmission system/infrastructure due to the large number of devices connected to the network connected, and the diversity of technology.
For example, according to experts at the Canadian Wireless and Telecommunications Association event in 2019, 5G networks have 200 times more attack vectors, or ways to gain access to a network, than their 4G predecessors.
Increasing collaboration between 5G technology companies is an emerging trend in the 5G technology market. This is mainly because these companies focus on developing strong 5G infrastructure and facilitating innovative platforms by sharing their resources, knowledge, technology and costs.
Such cooperations are also helpful for companies in the event of expiring licenses, a lack of technological know-how and strict regulatory framework conditions. For example, in February 2019, Ericsson partnered with Intel Corporation to develop the next-generation hardware management platform that will deliver visibility, agility, and efficiency for 5G, Distributed Cloud, and Network Functions Virtualization (NFV).
Similarly, in January 2019, AT&T partnered with Rush University Medical Center to bring the first 5G-enabled hospital to the United States.
The market for 5G technologies is governed by the European Electronic Communications Code (EECC), which establishes regulations related to 5G technologies within the European Union.
March 2022, Accordingly, the EU passed regulations to accelerate the deployment of 5G networks by simplifying the deployment of small cell antennas that provide the last mile for 5G networks. The regulation defines the physical and technical characteristics of small cells and sets strict limits on their size and power, exempting them from building permits (while retaining national oversight) and addressing their appearance to make them less visible.
Therefore, regulations like these would benefit 5G technology companies and propel the market for 5G technologies.
In June 2022, Qualcomm, a US-based semiconductor company, acquired Cellwize Wireless Technologies Pte.Ltd for an undisclosed amount.
This acquisition is expected to strengthen Qualcomm Technologies’ 5G infrastructure solutions to power the digital transformation of industries, drive the connected intelligent edge and support the growth of the cloud economy.Cellwize Wireless Technologies Pte.
Ltd is a Singapore-based telecommunications service provider.
The countries covered by the 5G technologies market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.
Read the full report: https://www.reportlinker.com/p06320347/?utm_source=GNW
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