Global 5G market size in 2020 will be 4296 Million US$ by 2024, with an 56.7 % CAGR in 2020-2024


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High demand for 5G-enabled smartphones with high-speed internet connectivity is expected to be a primary driver for the industry.

BANGALORE, KARNATAKA, INDIA, October 9, 2019 / — The global 5G market size in 2020 will be 4296 Million dollars and is anticipated to grow exponentially by 2024, with an 56.7 % CAGR in 2020-2024

5G networks are the next generation of mobile Internet connectivity, providing quicker speeds and more secure smartphone and device connections than ever before.

Increasing demand for mobile consumer bandwidth and connectivity for IoT and sensor devices for smart city applications, together with emerging applications such as Augmented Reality (AR) and self-driving cars, support 5G infrastructure and market growth.

High demand for 5G-enabled smartphones with high-speed internet connectivity is expected to be a primary driver for the industry.

The 5G market is broadly classified into to three based on their types(mMTC, URLLC, eMBB and FWA), application(Smart Cities, Connected Factories, Smart Buildings, Connected Vehicles, Connected Healthcare, Connected Retail, Smart Utilities, Broadband and Voice) and region.

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1. Ever-increasing demand for an enhanced mobile internet experience clubbed with smartphone adoption among users
2. Increasing use of connected IoT device
3. Increasing automation in different industries


1. Because of the presence of massive software providers and the investment of carriers to launch technology in this region, Europe is expected to account for a significant portion of global demand in the 5 G infrastructure industry.
2. Asia-Pacific region as a whole has a steady pace of progress on the 5 G market, but countries such as Korea and Japan have been observed to grow significantly on the 5 G market.


The 5G market is extremely fragmented with global companies dominating the major chunk of the competitive landscape. Some of the significant companies discussed in this report are,

1. AT&T
2. Airtel
3. BT
4. China Mobile
5. China Telecom
6. Deutsche Telekom
7. du
8. Korea Telecom
9. Sprint
10. Saudi Telecom
11. SK Telecom
12. Telstra
13. Vodafone
14. Verizon
15. Others

Market segment by Type, the product can be split into

1. mMTC and URLLC
2. eMBB
3. FWA

Market segment by Application, split into

1. Smart Cities
2. Connected Factories
3. Smart Buildings
4. Connected Vehicles
5. Connected Healthcare
6. Connected Retail
7. Smart Utilities
8. Broadband
9. Voice

Market segment by Regions/Countries, this report covers

1. United States
2. Europe
3. China
4. Japan
5. Southeast Asia
6. India
7. Central & South America

The study objectives of this report are:

1. To analyze global 5G status, future forecast, growth opportunity, key market and key players.
2. To present the 5G development in United States, Europe and China.
3. To strategically profile the key players and comprehensively analyze their development plan and strategies.
4. To define, describe and forecast the market by product type, market and key regions.



It is anticipated that smart mobile networks will communicate with more devices, manage more information, decrease latency considerably, and deliver new reliability levels. 5G service was intended to satisfy these requirements by pooling bandwidth to increase velocity and range.

Moreover, the rising demand for mobile data traffic volume influences 5G service development worldwide, and this factor is expected to grow significantly over the coming years.

The 5G Applications And Service Market is broadly classified into to three based on their types(Enhanced Mobile Broadband, Ultra-Reliable Low Latency Communications, Massive Machine-Type Communications, Fixed Wireless Access and Others), application(Telecommunications, Automotive, Government, Media and Entertainment, Consumer Electronics, Banking, Energy and Utilities, and Others) and region.

Get in-depth analysis on Market Size, Share, Price, Trend and Forecast on the current state of the global 5G Applications And Service Market from the link below.

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A 5G base station is a fixed place of communication that is a component of the wireless telephone scheme of a network connecting to a single antenna or numerous antennas. The 5G base station focuses primarily on high-bandwidth and high-traffic situations as well as on real-time communications with enormous reliability and latency requirements.

The adoption of new technologies, including advanced antenna systems (AAS) is boosting the growth of the worldwide market for 5G base stations.

The 5G Base Station Market is broadly classified into to three based on their types(Femtocell, Pico Cell, MicroCell), application(Smart Home, Autonomous Driving, Smart Cities, Industrial IoT, and Smart Farming) and region.

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The adoption of 5G smart city networks is the primary factor that triggers the growth of the global 5g Equipment Market. Smart cities will have consolidated ICTs to create linked and harmonized government facilities and infrastructure.

For application such as traffic management and autonomous driving, 5 G networks can enable the execution of MTC applications for large-scale machine-to-machine communication with minimum human input. The adoption of 5G networks for global smart city projects will therefore increase and, in turn, drive the growth of global 5g Equipment Market.

Get the vital statistics on the market status of the 5G Equipment manufacturers, along with the estimation of market development trends for 2019-2024 from the link below.

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A chipset is a set of electronic components in an integrated circuit known as the "Data Flow Management System" which manages data flow between the processor, memory and peripherals.

The main driver for this market's development is the increasing demand for high-speed internet and extensive network coverage with decreased latency and power consumption. In addition, increasing M2M and IoT contacts and growing demand for mobile data services are driving the development of the industry.

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With 5G application over the next decade, both suppliers of network equipment (NEMs) and operators are facing new difficulties in testing their hardware, software, and end-to-end deployments.

Over the next few years, the 5G tester market is expected to witness significant value and volume growth, driven by growing industry focus including automotive, IT & telecommunications and others to integrate 5 G technology into their products.

To get the details about the key trends, drivers and challenges from the supply, demand and economy side, which are influencing the 5G tester market, click on the link below.

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What will be the market size of the 5G market in the coming year ?

Source: EIN Presswire