New York City, 2 Nov 2020: The global 5G Infrastructure market size is expected to reach USD 47.6 billion by 2027 according to a new study by Polaris Market Research. 5G infrastructure is an advanced technology for a mobile broadband network and a combination of Radio Access Network (RAN), core network, and backhaul & transport. It supports the future internet (FI) and provides the ultra-high broadband infrastructure for several industry vertical including manufacturing, healthcare, and automotive. With supporting high-speed internet services, 5G infrastructure helps in undertaking futuristic necessities and creates an atmosphere to facilitate socio-economic changes in the market.
Industries in the Europe region
are ready for this change, when 3G arrived, companies mobilized their
workforce, 4G started digitizing their work processes and value chain.
Nowadays, industries already set up digitization pathways, enabling real time
consensus between suppliers and customers through digital transformation
achieved through cutting edge communication network, bolstering productivity,
while keeping data secure. To capitalize on the ongoing course of evolution the
industries need to focus on innovative service, sustainable market investment,
promoting digital champions, reforms in spectrum policies, and regulated access
to fiber backhaul.
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Furthermore, the outbreak of
COVID-19 has dramatically changed the prospects for 5G infrastructure across
the globe. In addition, several applicable verticals have jolted resulting in a
supply chain disruption causing slowdown in production. However, to regain
profitability & continue production, the market is expected to grow
significantly in the upcoming year.
With advancements in the field of
telecommunications, especially in mobile networks; the demand for 5G
infrastructure has increased tremendously. The development of several
industries succeeded with the use of 4G technologies across various sectors is
one of the factor propelled market growth. Moreover, the rise in demand for
enhanced bandwidth connectivity with low latency for several applications
including drone connectivity and vehicle to everything (V2X) is projected to
fuel the market growth.
Market participants such as
Nokia Corporation, Telefonaktiebolaget LM Ericsson, Huawei Technologies Co.,
Ltd., Comba Telecom Systems Holdings Ltd., ZTE Corporation, Cisco Systems,
Inc., Fujitsu Limited, CommScope Inc., Casa Systems, Samsung Electronics,
Altiostar, NEC Corporation, Airspan Networks, HPE, Mavenir, Ceragon, Aviat
Networks, Inc., Parallel Wireless, JMA Wireless are some of the key players
operating in the global market.
Key players in the market are
focusing on launching new products, executing partnership, developing existing
offering, and have adopted various strategies to expand their foothold in the
market. In July, 2020, NEOM, the cross border smart city in Saudi Arabia signed
contract with the STC group for establishing the 5G infrastructure. The contract
would accelerate its digital ambitions, starting with the innovation center.
Read More : https://www.polarismarketresearch.com/industry-analysis/5g-infrastructure-market
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