Future Market Insights’ report, titled “5G Technology Market – Global Industry Analysis and Forecast 2018–2028”, forecasts 5G technology playing a critical role in supporting governments and public organizations in transforming cities into smart cities. The researchers have segmented the global 5G technology market based on technology, application, vertical, and regions.
The global 5G technology market was valued at $ 608.3 Million in 2018 and is estimated to grow to $248,462.4 Million by 2028. It is projected to grow at a CAGR of 82.4% during the forecast period.
Points of Note
- The US is expected to be the first country to introduce 5G technology
- Dominance of western Countries in 5G research prevails
- It has been observed that, in the European region, countries such as Germany, France, and the UK are leading the research for the commercialization of 5G technology.
- Contracts will increase between telecom service providers.
- Players in the 5G technology include Ericsson, Telecom Italia, AT & T, Inc., Huawei Technologies Co., Ltd., Orange S.A., China Mobile Limited, KT Corporation, Qualcomm, and Verizon Communications, Inc.
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Future Market Insights