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Adoption Of 5G For Smart City Networks Is Driving The 5G Infrastructure Equipment Market

5G Infrastructure Equipment Market Global Report

5G Infrastructure Equipment Market Global Report 2020-30: Covid 19 Growth And Change

The Business Research Company’s 5G Infrastructure Equipment Market Global Report 2020-30: Covid 19 Growth And Change

LONDON, GREATER LONDON, UK, June 19, 2020 /EINPresswire.com/ -- The adoption of 5G for smart city networks is the primary factor contributing to the growth of the global 5G infrastructure equipment market. The enhanced features of 5G network such as high speed, reduced or zero latency, wider bandwidth, uniform platform, larger number of connected devices, and extended battery life are powering smart cities, thereby causing an urban revolution. Zero latency, for instance, enables the sensors and devices that power the city’s transportation and traffic system to automatically redirect traffic, and also alert self-driving vehicle systems about the situations on the road. The advanced 5G capabilities such as enhanced security (instantaneous transfer of videos from the security cameras), instant response to emergency situations, and personalized healthcare are expected to bring increased digital inclusion to urban residents. From automated grocery purchase and delivery to complex management of a building’s infrastructure, 5G will enable people to adopt new standards of living. Due to all these enhanced features, the demand for 5G network is growing, therefore, adoption of 5G for smart city networks is driving the market.

The global 5G infrastructure equipment market is expected to decline from $2.03 billion in 2019 to $1.90 billion in 2020 at a compound annual growth rate (CAGR) of -6.41%. The decline is mainly due to economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it. The market is then expected to recover and reach $9.37 billion in 2023 at CAGR of 70.16%.

The Internet of Things (IoT) that has been transforming businesses and peoples’ lives, is continuing to ignite new innovations. IoT represents one of the key growth opportunities for 5G telecommunication service providers. A number of factors, including increased demand from consumers and enterprises, and the availability of more affordable devices, is driving the adoption of Internet of Things (IoT), which in turn is expected to drive 5G infrastructure. 5G will be driven largely by IoT applications including remote healthcare, traffic safety and control, smart grid automation, industrial application and control, and remote manufacturing, training, surgery and education. Growth in IoT technology will drive significant operator investment in 5G technology, spectrum and infrastructure.

The 5G infrastructure equipment market covered in this report is segmented by communication infrastructure into small cell, macro cell, radio access network (RAN), and distributed antenna system (DAS). By network technology, the market is segmented into software defined networking (SDN) and network function virtualization (VNFV), mobile edge computing (MEC), and fog computing (FC).

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5G Technologies Global Market Report 2020 (https://www.thebusinessresearchcompany.com/report/5g-technologies-global-market-report)

5G Services Global Market Report 2020-30: Covid 19 Implications And Growth (https://www.thebusinessresearchcompany.com/report/5g-services-global-market-report-2020-30-covid-19-implications-and-growth)

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Oliver Guirdham
The Business Research Company
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