The 5G Infrastructure Market is anticipated to be worth USD 2.86 billion in 2020 and USD 33.72 billion by 2026, with a CAGR of 50.9% throughout that period. The demand for mobile data services, the importance of software implementation in communication networks, the expansion of machine-to-machine (M2M) communication in various industries, and the rising need for fast speeds and extensive network coverage are the main factors propelling the growth of the 5G infrastructure market.
Consumer electronics is anticipated to account for the highest part of the market for 5G infrastructure.
The market's expansion is linked to the market's influx of 5G-capable consumer electronics products. For instance, it is anticipated that there would be a large demand for smartphones with high-speed Internet connectivity after the commercialization of 5G network connectivity. This is one of the key forces behind applications in consumer electronics. It is predicted that this would hold the greatest market share in 2020 because it is one of the primary drivers for consumer electronics applications.
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Between 2020 and 2026, the industrial automation industry is anticipated to expand rapidly.
This is due to a rise in the need for process automation across a number of sectors, including manufacturing and process industries. The proper execution of numerous activities in these businesses depends on the timely and appropriate flow of data and information. A strong data network, in terms of fast speed with the least amount of delay, may be easily obtained with the installation of 5G network.
In 2020, North America is anticipated to account for the greatest proportion of the market for 5G infrastructure.
The market's expansion is attributed to a number of variables, including rising levels of automation across industries, an increase in subscribers who own multiple connected devices, cutting-edge technologies like the Internet of Things (IoT), a rapid rise in connected and autonomous vehicles, an increase in cellular M2M connections, a high demand for on-demand video services, and expanding trends in smart cities. 5G network connectivity will be essential in these applications to perform various operations like data transfer, data processing, and communication. Therefore, the market for 5G infrastructure is expanding primarily due to the rise of these applications in North America.
Qualcomm (US), Intel (US), Ericsson (Sweden), Samsung (South Korea), NEC (Japan), Qorvo (US), AT&T (US), Huawei (China), Nokia (Finland), MediaTek (Taiwan), Cisco (US), Cavium (US), Analog Devices (US), Verizon Communications (US), SK Telecom (South Korea), T-Mobile (US), ZTE (China).
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