A new report highlights the possibility of the global 5G market to expand by 111% between 2019 and 2025.
The 5G market is expected to generate up to $277 billion by 2025.
Factors driving the market include:
- Rising demand in mobile broadband
- The growing use of smartphones and smart wearable devices
- Surging demand of mobile video adoption
- Increased investments by governments in digitalisation. For instance, the governments of Japan, South Korea, the US and China have also been particularly active in pushing the rollout of 5G technology by the end of 2019.
Research and development initiatives such as as China's National 863 Programme, China's 13th Five-Year Plan, Projeto 5G Brasil, Advanced Wireless Research Initiative, and ENCQOR are intensifying innovation in and adoption of 5G.
The report states that:
- 5G networks will support promising technological innovations such as IoT, intelligent transportation, smart utility grids etc
- There will be an increase in M2M penetration for industrial use. Up to half a billion connections are expected in retail, manufacturing and energy industries by 2025
- In overall, North America will hold the largest market share of 44% whilst Asia-Pacific will account for the highest number of 5G cellular subscribers by 2025
For more information about the study, visit "Global 5G Market (2019-2025)"