WILMINGTON, DE, UNITED STATES, February 22, 2024 /EINPresswire.com/ — The global 5G technology industry was valued at $5.13 billion in 2020, and is projected to reach $797.80 billion by 2030, growing at a CAGR of 65.8% from 2021 to 2030.
The demand for 5G technology has increased tremendously, especially by those needing the high speed, low latency, and network capacity that 5G is designed to provide. In addition, there is much faster rollout and adoption of 5G as compared to 4G which is expected to provide lucrative opportunities during the 5G technology market forecast.
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5G has rapidly emerged as the cornerstone of the next-generation communication landscape, promising unparalleled speed, capacity, and reliability. With global operators and major phone manufacturers spearheading the rollout of 5G networks and devices, the world is witnessing a transformative shift in connectivity and communication capabilities.
As the deployment of 5G networks accelerates globally, the possibilities for innovation and collaboration are limitless. From enabling smart cities and autonomous vehicles to revolutionizing healthcare and entertainment, 5G technology is poised to reshape industries and societies worldwide.
Since the early stages of 2019, global operators have been eagerly rolling out their new 5G networks, marking a significant milestone in the evolution of communication technology. This expansion coincides with a concerted effort by major phone manufacturers to bring 5G-enabled devices to market, signaling a widespread adoption of this transformative technology. 5G’s ambitious design, aimed at delivering peak data rates of up to 20 Gbps as per IMT-2020 standards, underscores its potential to revolutionize connectivity on a global scale. Leading the charge in 5G innovation, Qualcomm Technologies has introduced its flagship solution, the Qualcomm Snapdragon X65, capable of achieving remarkable downlink peak data rates of up to 10 Gbps.
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Moreover, 5G’s expansion into new spectrum bands, including mmWave, promises to unlock much-needed network capacity, facilitating seamless connectivity experiences even in high-traffic environments. Beyond speed and capacity, 5G boasts significantly lower latency, ensuring immediate responses for critical applications. This commitment to providing a consistently high user experience, even in dynamic environments, positions 5G as a game-changer in the realm of communication technology. Backed by a robust Gigabit LTE coverage foundation, the new 5G NR mobile network offers ubiquitous Gigabit-class connectivity, laying the groundwork for a future where connectivity knows no bounds.
By region, Asia-Pacific is the largest segment during 2020 and is expected to grow at the fastest CAGR during the forecast period due to wide presence of younger population in Asia-Pacific, which is increasing demand for digital applications including social gaming, media, and others. Furthermore, 5G network is expected to provide high data rate and thus, meet consumer expectations, which act as factors that boost the growth of the 5G technology market in the region.
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The key players profiled in the 5G technology market are Deutsche Telekom AG, Ericsson, Huawei Technology, Nokia, Orange S.A., Qualcomm Inc., Telecom Italia, Telstra, T-Mobile, and Intel Corporation.
Table of Content:Chapter 1 : INTRODUCTIONChapter 2 : EXECUTIVE SUMMARYChapter 3 : MARKET OVERVIEWChapter 4 : MICROSERVER MARKET, BY COMPONENTChapter 5 : MICROSERVER MARKET, BY FUNCTIONChapter 6 : MICROSERVER MARKET, BY ORGANIZATIONChapter 7 : MICROSERVER MARKET, BY APPLICATIONChapter 8 : MICROSERVER MARKET, BY REGIONChapter 9 : COMPETITIVE LANDSCAPEChapter 10 : COMPANY PROFILESLIST OF TABLESLIST OF FIGURES
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