According to projections, the 5G Infrastructure Market will increase from USD 784 million in 2019 to USD 47,775 million by 2027, at a CAGR of 67.1%. This is according to the new market research report, "5G Infrastructure Market by Communication Infrastructure (Small Cell, RAN, Macro Cell), Network Technology (SDN, NFV, MEC, FC), Chipset Type (ASIC, RFIC), Application (Automotive, Consumer Electronics, Retail), and 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.

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Growing adoption of virtual networking architecture in telecommunications

In the current scenario, networks are implemented with various hardware developed for dedicated application-specific purposes. Such customized hardware is incapable to scale up and are cost sensitive to manage and maintain. With technological advancements, the life cycle of such application-specific hardware is limited. In 5G infrastructure, it is necessary to design a network architecture that can offer flexibility and scale-up options as millions of devices are estimated to get connected to communicate with each other. Considering this, there is a high demand for agile and flexible networks that can easily be changed and designed in accordance with requirements. This can be achieved through software network technologies such as network functions virtualization (NFV) and software-defined networking (SDN). SDN and NFV allow network flexibility by partitioning network architectures into virtual elements. Further, 5G network slicing will allow network operators to deploy only those functions necessary to support a particular set of customers and specific market segments. Such software-driven network technologies would further drive the 5G infrastructure market in terms of the ease of deployment and efficient operation of 5G network.

The Asia Pacific region is projected to Grow at highest CAGR during the forecast period

The growth of the 5G infrastructure market in Asia Pacific can be attributed to dynamic changes in the adoption of new technologies and advancements in organizations across various industries. The growth of the 5G infrastructure market in Asia Pacific will mainly be driven by the growing development (such as R&D activities, investments, and partnerships with different companies) related to the 5G market in countries such as Japan, China, South Korea, and Australia.

In the Asia Pacific region, 5G is well-suited as it provides simultaneous connectivity for multiple devices and has low latency, which, in turn, improves the overall performance of systems. The 5G infrastructure market in Asia Pacific has huge opportunities in smart cities. Various countries in Asia have either initialized the implementation of smart city projects or are in the planning phase. China is the biggest marketplace in Asia Pacific for the development of smart cities. It is one of the major countries involved in the development of the 5G network infrastructure. The Chinese government has coordinated and stimulated 5G research in China. As a result, the market for 5G infrastructure in Asia Pacific is expected to grow at the highest CAGR in the coming years.

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The North America region held the major share of the 5G Infrastructure market in 2018

North America is one of the leading markets for 5G infrastructure in terms of R&D activities in 5G technology, network design/deployment, and presences of key market players. North America is well known for its high adoption rate of new advanced technologies, including Internet of Things (IoT), wearable technology, and autonomous car/connected cars. Reliable and fast connectivity required for these technologies is addressed by 5G. Therefore, high growth opportunities for the said market in North America can be expected. For instance, Qualcomm, Intel, Cisco, and AT&T are among the major companies in the 5G market that are actively participating in the development of 5G technology. With full-fledged 5G implementation in North America, it is expected to boost on-demand video services. In the current scenario, the market for such services is growing continuously.

Key Market Players:

Some of the Major players in the 5G infrastructure market are Ericsson (Sweden), Huawei (China), Nokia Networks (Finland), Samsung Electronics (South Korea), ZTE (China). These players have adopted various growth strategies such as agreement, collaboration, partnerships, new product development, product launch to further expand their presence in the 5G infrastructure market.

News Covered:

https://www.marketwatch.com/press-release/5g-infrastructure-market-worth-47775-million-gain-momentum-during-2019-2027-2022-11-11

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