5G technology refers as fifth generation of digital cellular network technology. It is an advanced version of mobile network technology to its former versions, namely 2G, 3G, 4G and so on. Key aim of 5G technology is to interconnect the people and further aims to interconnect & control machines, matters as well as devices by providing new user experiences with enhanced levels of performance & efficiency. 5G technology is segmented on the basis of frequency spectrum into three types: millimeter waves, low-band and mid-band.
As per analysis, “Asia Pacific 5G Technology Market 2020-2030 by Offering, Communication Infrastructure, Connectivity (EMBB, MMTC, URLLC), Spectrum Range, Application, Industry Vertical, and Country: Trend Forecast and Growth Opportunity” the key companies operating in the Asia-Pacific 5G technology market include Ericsson AB, China Mobile Ltd., AT&T, Inc., Cisco Systems, Inc., Extreme Networks, China Telecommunications Corporation, T-Mobile, Deutsche Telekom Ag, Fujitsu, Intel Corporation, MediaTek Inc., Huawei Technologies Co., Ltd., Google Inc., LG Electronics, Lenovo, Qualcomm Technologies, Inc., Telefonaktiebola get LM Ericsson, Oppo, Samsung Electronics Co., Ltd., NTT Docomo, Inc., Sprint, Orange S.A., Nokia Corp., Sk Telecom Co. Ltd., Verizon Communications Inc. and among others.
Based on offering type, Asia-Pacific 5G technology market is segmented into software, hardware and services. Based on communication infrastructure, market is segmented into transport network, core network and Radio Access Network (RAN). Core network is further sub-segmented into Mobile Edge Computing (MEC), Software-Defined Networking (SDN), Fog Computing (FC), Network Function Virtualization (NFV) and Network Slicing (NS). RAN is further sub-segmented into macro cell base station, small cell base station and Distributed Antenna Systems (DAS). Based on connectivity, market is segmented into Massive Machine-type Communications (MMTC), Enhanced Mobile Broadband (EMBB) and Ultra-reliable Low-latency Communication (URLLC). Based on spectrum range, market is segmented into <1 GHz, 1-6 GHz and >6GHz. Based on application, market is segmented into monitoring & tracking, industrial IoT, virtual reality & augmented reality, connected transportation & autonomous driving, enhanced video services, smart surveillance and other applications. In addition, based on industry vertical, market is segmented into healthcare, energy & utilities, media & entertainment, industrial manufacturing, automotive & transportation, consumer electronics, intelligent buildings & home automation, defense & military, public safety & surveillance and other verticals.
The Asia-Pacific 5G technology market is driven by rise in demand for content streaming services, followed by growth in number of IoT devices & adoption of edge computing and surge in demand for low-latency connectivity in the industrial automation. However, implementation of fiber backhaul and small cell deployments challenges may impact the market. Moreover, growth in autonomous vehicles and increase in investments in smart cities are key opportunities for market.
It is predicted that future of the Asia-Pacific 5G technology market will be bright as a result of increase in plans of digitization by governments of China and India during the forecast period. The proliferation of new technologies such as robotic process automation (RPA), artificial intelligence (AI), and augmented reality (AR) or virtual reality (VR) can transform business models.
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Global 5G Technology Market 2020-2030 by Offering, Communication Infrastructure, Connectivity (EMBB, MMTC, URLLC), Spectrum Range, Application, Industry Vertical, and Region: Trend Forecast and Growth Opportunity
Ankur Gupta, Head Marketing & Communications