5G technology market 2022-2026: A descriptive analysis of parent market, five forces model, market dynamics, and segmentation - Technavio
NEW YORK, Dec. 15, 2022 /PRNewswire/ -- According to Technavio, the global 5G technology market size is estimated to grow by USD 128.46 billion from 2021 to 2026. The market is estimated to grow at a CAGR of 69.34% during the forecast period. North America will account for 46% of the market's growth during the forecast period.
Global 5G technology market - Parent market analysis
Technavio categorizes the global fifth-generation (5G) technology market as a part of the global technology hardware, storage, and peripherals market within the overall global information technology market. The parent global technology hardware, storage, and peripherals market covers manufacturers of smartphones, personal computers, servers, electronic computer components, and peripherals. It also includes data storage components, motherboards, audio and video cards, monitors, keyboards, printers, and other peripherals.
Global 5G technology market - Five forces The global 5G technology market is fragmented, and the five forces analysis covers?
Bargaining Power of Buyers
The threat of New Entrants
Threat of Rivalry
Bargaining Power of Suppliers
Threat of Substitutes
Interpretation of porter's five models helps to strategize the business, for entire details ? buy the report!
Global5G technology market ? Customer landscape
The report includes the market's adoption lifecycle, from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global 5G technology market - Segmentation assessment
Segment Overview Technavio has segmented the market based on components (software and services), end-user (manufacturing, automotive, energy and utilities, and others), and geography (North America, Europe, APAC, South America, and Middle East and Africa).
The software segment will grow at the highest rate during the forecast period. Several industries are early adopters of advanced technologies. The growth of the 5G technology market in North America would be driven by the rising use of wireless technologies in nations like the US during the forecasted period.
Geography overview By geography, the global 5G technology market is segmented into North America, Europe, APAC, South America, and Middle East and Africa. The report provides actionable insights and estimates the contribution of all regions to the growth of the global 5g technology market.
North America will account for 46% of the market's growth during the forecast period. US and Canada are the key markets for 5G technology in North America. The market in this region will expand more quickly than the market in Europe. Over the projection period, the growth of the 5G technology market in North America would be driven by the rising use of wireless technologies in nations like the US.
One of the key factors driving the global 5G technology market growth is the growing R&D and deployment of the 5G network.
During the projection period, R&D efforts are anticipated to expand along with trend-setting inventions. The evolution of 5G technology will compel market vendors to develop wireless test equipment that can support the technology effectively. Vendors are competing for 5G network deployment, especially in North America.
For instance, the Indian government is attempting to set up a fund for the advancement of 5G technology. A high-level committee was established by the Indian government in 2021 to develop a roadmap for the deployment of 5G by June 2022. All these factors will have a positive impact on the global 5G technology market during the forecast period.
Leading trends influencing the market
Strategic collaboration among market participants is one of the key 5G technology market trends that is expected to impact the industry positively in the forecast period.
Market players from a variety of sectors, including utilities, semiconductor integrated circuits (IC), telecommunication network infrastructure, and information technology solutions, are making significant investments in 5G technology. Various governments are also collaborating with industry players to accelerate the adoption of 5G technology.
5G technology has the potential to provide network transmission speeds of very high magnitudes compared with that of the 4G network. The integration of HMI technologies across the end-user industries is driving the demand for networks that can support high-bandwidth applications with low latency. As a result, a large number of companies focus on developing 5G-compatible devices and establishing networks as a part of the 5G network ecosystem.
Major challenges hindering the market growth
One of the key challenges to the global 5G technology market growth is the high deployment cost of 5G technology.
The major issues impeding the expansion of the global 5G technology market are the high cost of small-cell network installation and the lack of security for remotely located outdoor power systems. Large companies in the target market must follow strict guidelines set by telecommunication standard groups. Businesses' profit margins were impacted by customers' ongoing pressure for competitive prices.
The market is expected to face a challenge due to the high cost of new frequency spectrum releases. Additionally, for effective 5G operations, complex network virtual applications must be designed and maintained within a given budget. Such factors will impede the market growth during the forecasted period.
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5G Technology Market Scope
Report Coverage
Details
Page number
142
Base year
2021
Forecast period
2022-2026
Growth momentum & CAGR
Accelerate at a CAGR of 69.34%
Market growth 2022-2026
USD 128.46 billion
Market structure
Fragmented
YoY growth 2021-2022 (%)
67.81
Regional analysis
North America, Europe, APAC, South America, and Middle East and Africa
Performing market contribution
North America at 46%
Key countries
US, China, Japan, Germany, and UK
Competitive landscape
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks
Key companies profiled
Accenture Plc, Cisco Systems Inc., CommScope Inc., Dell Technologies Inc., Deutsche Telekom AG, Fujitsu Ltd., HCL Technologies Ltd., Huawei Technologies Co. Ltd., Intel Corp., Nokia Corp., Qualcomm Inc., Samsung Electronics Co. Ltd., Siemens AG, T Mobile US Inc., Tech Mahindra Ltd., Telefonaktiebolaget LM Ericsson, Telstra Corp. Ltd., TietoEVRY Corp., TIM S.p.A., and Viavi Solutions Inc.
Market dynamics
Parent Market Analysis; Market growth inducers and obstacles; Fast-growing and slow-growing segment analysis for the forecast period
Customization purview
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.
Customization purview
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.
Exhibit 141: Telefonaktiebolaget LM Ericsson - Overview
Exhibit 142: Telefonaktiebolaget LM Ericsson - Business segments
Exhibit 143: Telefonaktiebolaget LM Ericsson - Key news
Exhibit 144: Telefonaktiebolaget LM Ericsson - Key offerings
Exhibit 145: Telefonaktiebolaget LM Ericsson - Segment focus
11.11 Telstra Corp. Ltd.
Exhibit 146: Telstra Corp. Ltd. - Overview
Exhibit 147: Telstra Corp. Ltd. - Business segments
Exhibit 148: Telstra Corp. Ltd. - Key offerings
Exhibit 149: Telstra Corp. Ltd. - Segment focus
11.12 TIM S.p.A.
Exhibit 150: TIM S.p.A. - Overview
Exhibit 151: TIM S.p.A. - Business segments
Exhibit 152: TIM S.p.A. - Key offerings
Exhibit 153: TIM S.p.A. - Segment focus
12 Appendix
12.1 Scope of the report
12.2 Inclusions and exclusions checklist
Exhibit 154: Inclusions checklist
Exhibit 155: Exclusions checklist
12.3 Currency conversion rates for US$
Exhibit 156: Currency conversion rates for US$
12.4 Research methodology
Exhibit 157: Research methodology
Exhibit 158: Validation techniques employed for market sizing
Exhibit 159: Information sources
12.5 List of abbreviations
Exhibit 160: List of abbreviations
About Us Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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