5G Technology Market Growing with 65.8% CAGR | Reach USD 797.80 Billion By 2030 Globally
Allied Market Research published a new
report, titled, ” 5G Technology Market Growing with 65.8% CAGR | Reach USD
797.80 Billion By 2030 Globally .” The report offers an extensive analysis of
key growth strategies, drivers, opportunities, key segment, Porter’s Five
Forces analysis, and competitive landscape. This study is a helpful source of
information for market players, investors, VPs, stakeholders, and new entrants
to gain thorough understanding of the industry and determine steps to be taken
to gain competitive advantage.
The global 5G technology market was
valued at $5.13 billion in 2020, and is projected to reach $797.80 billion by
2030, growing at a CAGR of 65.8% from 2021 to 2030.
Driving Factors 5G Technology Market
Rise in levels of globalization drives
the market growth. In addition, advancements and modernization of technology
primarily drive the growth of the market. Enhanced effectiveness and output are
expected to create lucrative growth opportunities for the market.
Market Segmentation 5G Technology Market
The 5G technology market is segmented on
the basis of component, connectivity, application, end use, and region. By
component, it is classified into hardware, software and services. Based on
connectivity, it is segregated into enhanced mobile broadband (EMBB),
ultra-reliable low latency communication (URLLC), and massive machine type
communication (MMTC). By application, it is segmented into automation,
monitoring & tracking, connected vehicle, smart surveillance, VR & AR,
enhanced video services, and others. By end use, the market is divided into
manufacturing, automotive, energy & utilities, transportation &
logistics, healthcare, government, media & entertainment, and others. By
region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key Players Storage 5G Technology Market
The report analyses the profiles of key
players operating in the 5G technology market such as Deutsche Telekom AG,
Ericsson, Huawei Technology, Nokia, Orange S.A., Qualcomm Inc., Telecom Italia,
Telstra, T-Mobile, and Intel Corporation. These players have adopted various
strategies to increase their market penetration and strengthen their position
in the 5G technology industry.
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