The Global 5G Digital Cellular Networks Market was valued at USD 33.24 bn in 2020 and is expected to reach USD 423.43 bn by 2027, with a growing CAGR of 43.1% during the forecast period.
5G is an abbreviation term that stands for the fifth generation of the wireless cellular networks. 5G refers to the fifth generation of mobile networks. 5G enables a new type of network capable of connecting virtually everyone and everything, including machines, objects, and devices. 5G wireless technology is intended to provide users with higher multi-Gbps data speeds, ultra-low latency, increased network capacity, increased availability, and a more uniform user experience. Higher performance and efficiency enable new user experiences while also connecting new industries.
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Global 5G Digital Cellular Networks Market Dynamics
Growing demand for content streaming devices is anticipated to drive the 5G digital cellular networks industry growth during the forecast period. For instance, the number of Netflix subscribers increased from 209 million to 213 million in 2021. Additionally, the use of 5G in smart home appliances is expected to foster the 5G digital cellular networks demand in the near future.
Fifth-generation (5G) mobile networks are expected to be the next significant advancement in mobile broadband. 5G users will be able to download a full-length movie in seconds and enable specialized tasks and functions, with peak download speeds of up to 20 gigabits per second (expected). According to Cisco, more than 500 billion IoT devices, ranging from sensors to actuators to medical devices, are expected to be connected to the internet by 2030. Additionally, the metaverse is an application that will allow wireless network operators to monetize their 5G and 6G investments, which is anticipated to drive the 5G digital cellular networks to demand in the near future. Furthermore, the metaverse may provide new opportunities for investors in 5G and, in the future, 6G stocks. Nvidia (NVDA) is already making its way into the metaverse. Nevertheless, 5G Cybersecurity issues may hinder the 5G digital cellular networks industry growth during the forecast period.
The Global 5G Digital Cellular Networks Market Segmentation:
Company Profiles and Competitive Intelligence
The key players operating in the 5G digital cellular networks market are:
Based on connectivity, the enhanced Mobile Broadband (eMBB) segment is expected to bolster the market demand during the forecast period due to its ultra-low latency
Based on connectivity, the market is segmented into emBB, uRLLC, MMTC, and FWA. The emBB segment is projected to remain dominant during the forecast period as (eMBB) enhances broadband access in densely populated areas. This boosts indoor and outdoor coverage in high-rise buildings and crowded city centers. The use of broadband everywhere is expected to support the 5G digital cellular networks market demand in the near future. Moreover, public transportation coupled with broadband access on high-speed trains and other modes of public transport are examples of eMBB use. Smart offices, eMBB can deliver high-bandwidth connections to many of users with heavy data traffic. EmBB is also used in concerts and sporting events may be, enabling high data rates where thousands of people are gathered.
Based on end-use, the IT & Telecommunication segment in the 5G digital cellular networks market is expected to hold the largest market share during the forecast period owing to its application in smartphones
Based on end-use, the market has been segmented into IT & Telecommunication, healthcare, media & entertainment, aerospace & defense, and others. IT & Telecommunication segment is expected to hold the largest market share during the forecast period due to its use in smartphones. Over the forecast period, the growing demand for faster data speeds for residential and commercial applications is expected to drive the growth of the IT & telecom segment. 5G services are expected to provide universal broadband access between homes and offices, allowing for remote consultation with specialists while also reducing business travel. During the forecast period, the growing demand for enhanced broadband capacity for virtual business meetings is expected to drive the 5G digital cellular networks market growth. 5G statistics reveal increased volume growth for 5G smartphones as well increased revenue for 5G chipsets. Leading original equipment manufacturers are also in a hassle to gain access to 5G patents in a bid to be first in the 5G wars. There are currently 236 million 5G global subscriptions. Subscriptions are forecast to reach 3 billion by 2025. (5G Americas and Omdia, 2021). Thus, the use of 5G In smartphones is expected to bolster the 5G digital cellular networks market growth in the near future.
Based on region, Asia-Pacific is expected to hold the largest market share during the forecast period
Based on region, the global 5G digital cellular networks market is split into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia-Pacific is expected to hold the largest market share during the forecast period. China being a major technology leader in this region, according to global times, China built the world's largest 5G high-speed mobile network with more than 250 million 5G mobile connections. Additionally, China's 5G network coverage and user scale have increased significantly. For instance, in February 2021, approximately ~ 800,000 5G base stations were built. For instance, in the first three quarters of 2020, Huawei topped the global 5G communications equipment market, accounting for more than 32% of the total global share.
The report also provides an in-depth analysis of 5G digital cellular networks market dynamics such as drivers, restraints, opportunities, and challenges
COVID-19 Impact on the 5G Digital Cellular Networks Market Analysis
The coronavirus disease (COVID-19) pandemic had delayed the established timelines in the rollout of next-generation 5G wireless networks around the world. The covid-19 pandemic prevented standards meetings, occupied network operators and regulators' attention, and disrupted global technology supply chains, Thus, it has delayed global 5G launch by six months to next few years as network expansions are halted and new deployments are put on hold. These delays will have serious consequences for smartphone manufacturers, wireless carriers, networking equipment providers, and large enterprises of all sizes. For instance, according to Fierce Networks, Dish Networks (US) stated that it would launch its first 5G market in Las Vegas by the end of 2020. The organization then delayed the launch date to the first quarter of 2021, and then again to the third quarter of 2021. Currently the company states that the launch for "beta version" shall be organized in Las Vegas market in the fourth quarter of 2021, but only for 90 days, implying that the network will not be commercially available until early 2022. Additionally, Dish is expected to launch a greenfield 5G network, with its core network running in the public cloud and open RAN technology, unlike any other 5G network currently in operation in the United States.
The report also provides an in-depth analysis of key trends in the 5G digital cellular networks market
|1||The latency and bandwidth improvements that 5G can provide, will aid in the advancement of IoT. Transportation, manufacturing, farming, and smart cities are some of the IoT end-uses that will benefit the most from mobile and cellular connectivity.||Positive|
|2||Strict government policies against 5G implementation||Negative|
The report also provides an in-depth analysis of recent news developments and investments
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