5G mm Wave Market to Grow With an Exceptional CAGR Through 2028
The increase in environment awareness
is a significant factor driving the growth of the Global 5G mm Wave market in
the forecast period 2024-2028.
According to the TechSci
Research report, "5G mm Wave Market – Global
Industry Size, Share, Trends, Competition, Opportunity and Forecast, 2018-2028,", The global 5G mm Wave Market
is anticipated to expand in the coming years. For service providers,
connectivity in the industrial and business sectors is anticipated to produce
sizeable long-term revenue streams. Given the 5G mm Wave's constrained radio
propagation, it is possible to confine respectable radio coverage to a small area.
High-band spectrum allocations are being chosen in some countries for the next
wave of Industry 4.0 applications, where wireless connectivity provides the
necessary flexibility for installations and applications while maintaining low
latency.
Following the COVID-19
pandemic, the demand for edge computing is expected to skyrocket for the next
three to four years, as the strain on expanding the core network is unlikely to
abate anytime soon. Working from home is expected to become the new normal, and
the healthcare system's saturation with online consultations will give birth to
a network architecture requiring minimal connectivity and robust security.
Telecom companies are likely to seize this opportunity because the cost of
establishing advanced facilities as well as full-sized data centres will
outweigh the cost of edge facilities per unit. This financial advantage may
hasten telecom firms' transition to large-scale data centre development during
the forecast period.
Browse
over XX market data Figures spread through XX Pages and an in-depth TOC on
the "Global 5G mm Wave Market"
The Global
5G mm Wave Market is
segmented into Component, Bandwidth, Application and Industry, Region, and Competitive
Landscape.
The widespread
deployment of 5G mobile networks may hasten the adoption of AR and VR. Massive
amounts of information must be accessible and processed in real time by AR and
VR devices. Greater flexibility is made possible by 5G in use cases like
augmented reality (AR), which is frequently used on smartphones or tablets in
museums to display extra content for exhibits.
According to
regional analysis, due to ongoing technological advancements in 5G technology,
the North American market for 5G millimetre held the largest revenue share in
2021. Countries' increasing adoption of connected cars 5G mm Wave is used in
the automotive industry to increase efficiency and advances in vechiles which is
the major factors that are anticipated to significantly support market revenue
growth over the forecast period.
The Asia
Pacific 5G millimeter wave market will account for a sizable revenue share in 2020,
owing to widespread adoption of edge computing and increased government
investments in telecommunications system advancements in the region.
Major
market players operating in the Global 5G mm Wave Market are:
- NXP Semiconductors
- Airspan Networks
- American Telephone and Telegraph
- SoftBank Corp
- Corning Incorporated
- Nokia Corporation
- NTT Docomo
- Huawei Technologies Co., Ltd.
- Qualcomm
- Verizon Communications Inc
- Rakuten Mobile
- Samsung
- Fujitsu
- Renesas Electronics Corporation
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"Global 5G mm Wave
Market is expected to thrive because ongoing advancements in edge computing
with multi-functional edge computing approaches, which is expected to break the
technological barriers between the service providers, are boosting the global 5G
mm Wave market during the forecast period. The extensive need for data security
and storage for gaming services from computing, as well as entertainment
services such as music and movies, is a driving factor for the global market.
Furthermore, supportive government policies for edge computing services with
emerging technologies around the world have been positively influencing the
market, with a constant desire to launch new service plans in the coming years.."
said Mr. Karan Chechi, Research Director with TechSci Research, a research-based
global management consulting firm.
"5G
mm Wave Market– Global Industry Size, Share, Trends, Opportunity, and Forecast,
2018-2028, Segmented By Component (Hardware, Solutions and Services), By
Bandwidth (24Ghz to 57Ghz, 57Ghz to 95Ghz, and 95Ghz to 300Ghz), By
Application, (Real Time Surveillance Cameras, AR/VR, Industry 4.0, Live
Streaming, Ultra-High Definition Video, Transport Connectivity, Others), By
Industry (Aerospace and Defense, Telecom, Automotive and Transportation, Public
safety, Healthcare and Life science, Media and Entertainment, and Others), By
Region, By Competition ", has evaluated the future growth potential of Global 5G mm
Wave market and provides statistics & information on market size, structure,
and future market growth. The report intends to provide cutting-edge market
intelligence and help decision makers take sound investment decisions. Besides,
the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities in Global 5G mm Wave Market.
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