Increase in demand for low latency connectivity in industrial automation, rise in number of IoT devices, surge in content streaming services, and growth in adoption of edge computing drive the growth of the 5G technology. Asia-Pacific contributed to the highest share in terms of revenue in 2020 and is estimated to continue its dominant share by 2028.However, the outbreak of the Covid-19 pandemic led to delay in the release of 5G specifications has led to slowdown the development of 5G market even more.
According to the report
published by Allied Market Research, the global 5G Technology ROI market generated $2.0 billion in 2020,
and is projected to reach $320.1 billion by 2026, witnessing a CAGR of 132.8%
from 2020 to 2026. The report provides a detailed analysis of changing
market dynamics, top segments, value chain, key investment pockets, regional
scenario, and competitive landscape.
Ankit Prajapati, a Lead Analyst, Semiconductor and Electronics at
Allied Market Research, stated, “5G technology is the future communication
technology. Telecom operators are investing into it to gain its maximum
benefits and avoid unnecessary expenditure on maturing of technology.
Technological advancement of AI and connected cars is further propelling the 5G
technology return on investment market. .”
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COVID-19 scenario:
- The
outbreak of the Covid-19 pandemic led to global lockdown and temporary
closure to manufacturing factories of almost all industries, which reduced
sales of 5G smartphones, thus, negatively impacted the 5G technology
market.
- Moreover, delay in the release of 5G specifications has led to
slowdown the development of 5G market even more.
The report offers detailed segmentation of the global 5G Technology ROI market based on industry
verticals and region.
Based on industry verticals,
the automotive segment held the highest market share
in 2020, and is expected to continue its leadership status during the forecast
period. Other segments discussed in the report are infrastructure, industrial
machinery, healthcare and life sciences. Based on region, Asia-Pacific contributed to the highest share in terms of
revenue in 2020 and is estimated to continue its dominant share by 2028.
Leading players of the global 5G Technology ROI market analyzed in the research
include KT
Corporation, SK Telecom, NTT DOCOMO, INC., KDDI Corporation, China Mobile,
Huawei Technologies Co., Ltd., Telefonaktiebolaget LM Ericsson, Nokia
Corporation, Telekom Deutschland GmbH, Infineon Technologies AG, AT&T Inc.,
and Verizon Communications Inc.
About Allied Market Research:
Allied Market Research (AMR) is a full-service market research and
business-consulting wing of Allied Analytics LLP based in Portland, Oregon.
Allied Market Research provides global enterprises as well as medium and small
businesses with unmatched quality of "Market Research Reports" and
"Business Intelligence Solutions." AMR has a targeted view to provide
business insights and consulting to assist its clients to make strategic
business decisions and achieve sustainable growth in their respective market
domains.
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