5G Technology Market Outlook-2026

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5G Technology Market Outlook-2026

5G Technology Market by Offering (Hardware, Software, and Services), Connectivity (Enhanced Mobile Broadband [eMBB], Ultra-Reliable Low Latency Communication [URLLC], and Massive Machine Type Communication [mMTC]), Application (Connected Vehicle, Monitoring & Tracking, Automation, Smart Surveillance, VR & AR, Enhanced Video Services, and Others), and End User (Manufacturing, Automotive, Energy & Utilities, Transportation & Logistics, Healthcare, Government, Media & Entertainment, Others): Global Opportunity Analysis and Industry Forecast, 2020-2026.

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5G Technology Market Outlook-2026

5G Technology Market by Offering (Hardware, Software, and Services), Connectivity (Enhanced Mobile Broadband [eMBB], Ultra-Reliable Low Latency Communication [URLLC], and Massive Machine Type Communication [mMTC]), Application (Connected Vehicle, Monitoring & Tracking, Automation, Smart Surveillance, VR & AR, Enhanced Video Services, and Others), and End User (Manufacturing, Automotive, Energy & Utilities, Transportation & Logistics, Healthcare, Government, Media & Entertainment, Others): Global Opportunity Analysis and Industry Forecast, 2020-2026.

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PRICING:

  • Single license 4881 EURO
  • 5 User license 5863 EURO
  • Enterprise license 8177 EURO

The 5G technology market size was valued at $5.54 billion in 2020, and is projected to reach $667.90 billion by 2026, registering a CAGR of 122.3% from 2020 to 2026. Asia-Pacific is expected to be the highest contributor to the global 5G technology market, with $2.20 billion in 2020, and is estimated to reach 329.09 billion by 2026, registering a CAGR of 130.7% during the forecast period.

5G Technology is expected to revolutionize communication across the globe. The 5G technology study provides deep dive analysis of hardware, software, and services that are critical for the success of 5G technology. Advancements in 5G technology are driven by multiple wireless connectivity features that are broadly classified into enhanced mobile broadband (eMBB), ultrareliable and low latency communications (URLLC), and massive machine-type communications (mMTC). 5G technology is expected to provide faster communication than other existing technologies and therefore, offers potential for both the consumers as well as industry. Further, international standardization of 5G technologies is anticipated to accelerate the mass adoption of industrial automation and connected cars. Moreover, 5G technology is expected to pave the way toward hyper-connected society and provide socio-economic value addition. The applications of 5G technologies in numerous contexts are being considered under the industry 4.0 initiatives across the globe. 5G technologies are projected to help drive advancements in vehicle-to-infrastructure, vehicle-to-vehicle, person-to-person, and vehicle-to-pedestrian connectivity.

5G technology is estimated to provide various key benefits to the users including lower latency and faster speeds.

5G is expected to offer speeds up to 10Gb/s and will reduce latency times to 1 millisecond or less. 5G will provide greater capacity and will be able to tackle with data intensive applications. 5G communication will be ultra-reliable with no connection-loss and will be very useful for critical applications in healthcare and other industries.

On the other hand, integration of 5G services with satellite communication and increase in strategic partnerships with system integrators in developing economies provide lucrative growth opportunities for the 5G technology market. The major drivers for 5G technology market include rise in number of IoT devices and adoption of edge computing, surge in demand for content streaming services, and increase in demand for low latency connectivity in industrial automation. 5G technologies are expected to help deliver unmatched data speeds while improving the overall user experience and dramatically improving real-time data processing capabilities in IoT devices. Edge computing can help streaming services improve network performance by caching popular content closer to end users in edge data centers.

Moreover, advent of 5G technologies is expected to further boost data speeds while improving the overall user experience. 5G technologies provide the essential network characteristics such as high reliability and low latency, which are required to support critical application in manufacturing facilities. 5G is one of the major technologies that is projected to facilitate industrial automation to industry 4.0. Increase in investments in smart cities and opportunities in autonomous vehicles are expected to provide new growth opportunities for 5G technology industry. Growth in investments toward smart city infrastructure is expected to provide significant opportunity for implementation of 5G technologies within smart cities. 5G communication is anticipated to enable the vast amounts of data generated from vehicle to be transferred and processed more efficiently while improving the overall performance of automated vehicles and further drive the growth in autonomous long-distance transportation. However, challenges in small cell deployments and implementation of fiber backhaul are expected to restrain 5G technology market growth.

The top players profiled in the market are Deutsche Telekom AG, Ericsson, Huawei Technology, Nokia, Orange S.A., Qualcomm Inc., Telecom Italia, Telstra, T-Mobile, and Intel Corporation.

Segmentation

The 5G technology market is segmented on the basis of offering, connectivity, application, end user, and region. Based on offering, it is divided into hardware, software, and services. Based on connectivity, it is categorized into enhanced mobile broadband (eMBB), ultra-reliable low latency communication (URLLC), and massive machine type communication (mMTC). By application, the market is classified into connected vehicles, monitoring & tracking, automation, smart surveillance, VR & AR, enhanced video services, and others. Based on end user, it is segregated into manufacturing, automotive, energy & utilities, transportation & logistics, healthcare, government, media & entertainment, and others. Based on region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Top Impacting Factors

The factors that drive the global 5G technology market growth are rise in number of IoT devices and adoption of edge computing, surge in demand for content streaming services, and increase in demand for low latency connectivity in industrial automation. However, challenges with small cell deployments and implementation of fiber backhaul impede the market growth. Conversely, the 5G technology market share is expected to witness significant increase in the near future, owing to opportunities in autonomous vehicles, and increase in investment in smart cities. These factors are anticipated to either drive or hamper the market growth.

Growth In Number of Iot Devices And Adoption of Edge Computing

Edge computing allows huge volumes of data to be processed close to the data source. Edge computing facilitates real-time analysis with faster response times while improving reliability and overall performance. Moreover, edge computing helps reduce privacy and security concerns. According to Gartner, the number of IoT devices is projected to increase to 50 billion by 2020. The data generated by these devices is also experiencing exponential growth. The growing demand for edge computing coupled with increasing amounts of data generated by IoT devices are expected to drive the demand for higher data speeds. 5G technologies are anticipated to help deliver unmatched data speeds while improving the overall user experience and enhancing real-time data processing capabilities. 5G communication is expected to perform 1000 times faster than 4G while bringing down device response times to milliseconds.

Surge In Demand for Content Streaming Services

Content streaming is expected to drive exponential growth in the media and entertainment center. According to vXchnge, a major colocation and edge data center provider in the U.S., 70% U.S. households subscribe to at least one streaming service while an average user is expected to subscribe to over three streaming services. This exponential demand for streaming services has further driven data usage levels across the globe. Streaming services face challenges of delivering interrupted content to improve overall user engagement. Edge computing can help streaming services improve network performance by caching popular content closer to end users in edge data centers. Moreover, advent of 5G technologies is expected to further boost data speeds while improving the overall user experience.

Opportunity In Autonomous Vehicles

Global autonomous vehicle market is experiencing rapid growth and is expected to reach over $550 billion by 2026. Major automotive vendors including General Motors, Toyota, and Ford, have together invested over $1 billion toward self-driving startups and AI technologies. The sheer amount of data generated by self-driving cars has forced the implementation of innovative technologies that generate, gather, and process massive amounts of data. Edge computing is expected to help in locally processing the data while transmitting critical information about vehicle positioning and road conditions to nearby vehicles. Moreover, 5G communication is anticipated to enable vast amount of data to be transferred and processed more efficiently while improving the overall performance of automated vehicles. This is estimated to further drive the growth in autonomous long-distance transportation, influences the 5G technology market share.

Key Benefits for 5G Technology Market:

  • This study includes the analytical depiction along with the current 5G technology market trends and future estimations to determine the imminent investment pockets.
  • The report presents information regarding the key drivers, restraints, and opportunities which are influencing the global 5G technology market growth.
  • The current market is quantitatively analyzed from 2020 to 2026 to highlight the financial competency of the 5G technology industry.
  • Porter’s five forces analysis illustrates the potency of the buyers and suppliers in the global 5G technology market.

Global 5G Technology Market Segmentation:

By Offering

  • Hardware
  • Software
  • Services

By Connectivity

  • Enhanced mobile broadband (eMBB)
  • Ultra-reliable low latency communication (URLLC)
  • Massive machine type communication (mMTC)

By Application

  • Connected vehicles
  • Monitoring & tracking
  • Automation
  • Smart surveillance
  • VR & AR
  • Enhanced video services
  • Others

By End User

  • Manufacturing
  • Automotive
  • Energy & Utilities
  • Transportation & Logistics
  • Healthcare
  • Government
  • Media & Entertainment
  • Others

By Region

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • UK
    • Italy
    • Rest of Europe
  • Asia-Pacific
    • China
    • Australia
    • India
    • South Korea
    • Rest of Asia-Pacific
  • LAMEA
    • Latin America
    • Middle East
    • Africa

Additional information

Research Source

Allied Market Research

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