The global digital ecosystem has been continuously evolving over the last few years. The worldwide ICT sector has witnessed some key disruptions of late and governments of various economies are devising and implementing smart and inclusive regulations to govern sector penetration and facilitate technology connectivity to all parts of the world.
A new research study titled “Global Market Study on 5G Network Equipment” has been added to the comprehensive repository of Market Research Reports Search Engine (MRRSE). According to the study, the Global 5G Network Equipment Market is likely to show a CAGR of 59.3% during 2019-2025.
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There has been an extensive growth in the use of smartphones across the globe. This is also a result of the growing dependency of people on smartphones and the internet to undertake their daily chores.
The growing number of internet users is also a result of decreasing internet prices and increasing adoption of IoT and other smart technologies. This increased the global internet user population to 3.42 billion in 2016 from 3.19 billion in 2015.
In the period from 2012 to 2016, internet users across the world registered a growth rate of 8.3%. This reflects a bright future for the growth of the 5G technology as well.
According to this report on the global 5G network equipment market, Asia Pacific is expected to lead the global market with a market valuation of over US$ 10,300 Mn by the end of 2025. In terms of growth rate, Europe is expected to be the most attractive region in the global 5G network equipment market.
The research report indicates that Europe is projected to register a growth rate of 65% during the forecast period 2019-2025.
The American government to deploy the necessary steps to speed up regulations pertaining to 5G technology
In July 2016, the U.S. Government launched initiatives worth US$ 400 Mn in order to conduct research and development on 5G wireless networks. These regulations are paving the way for the rapid growth of 5G services.
U.S. is also expected to be the first country to set large volume 5G wireless applications and networks. In North America, many known enterprises are coming together to adopt 5th generation wireless technology.
Moreover, the U.S. federal commission has decided to open a high frequency spectrum of around 11GHz for mobile, fixed use, and flexible wireless broadband. In October 2017, Ericsson partnered with SingTel to launch the first 5G center of excellence.
These centers will help prepare and accelerate 5G adoption in line with Singapore’s smart nation vision.
Growth of the 5G network equipment market is expected to be swift in countries of the Middle East. The GCC countries are expected to achieve 50Mb/s mobile internet speed by the end of 2018.
In the beginning of 2018, 5G is expected to be launched in specific regions of GCC countries, and large-scale commercial roll outs are expected in commercial areas by 2020. The growth in deployment is helped by an extensive adoption of advanced technologies such as the Internet of Things and cloud solutions, which will boost 5G uptake by transforming the focus from consumer-centric cellular coverage to more machine centric communications.
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A significantly visible dominance of western countries in 5G research
In the European region, countries such as Germany, France, and the U.K. are leading in the race for early commercialization of 5G services.
Enterprises such as Verizon, AT&T, Ericsson, and Qualcomm are testing various frequency spectrums and advanced technologies to deploy 5G solutions efficiently. Moreover, these enterprises have launched customer trials in several geographical areas.
These trials will form the base for 5G, which will then be globally adopted.
However, the market share of Asia Pacific is expected to be the highest in the coming years. This is also a result of the regional focus on the Bring You Own Device (BYOD) trend in order to improve workforce productivity through flexible utilization of enterprise resources to meet the growing business demand.
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