5G Infrastructure Equipment Market To Grow At Enormous Rate Of 70% Through 2023!
5G Infrastructure Equipment Market Report - Opportunities And Strategies - Global Forecast To 2030
The Business Research Company’s 5G Infrastructure Equipment Market Report - Opportunities And Strategies - Global Forecast To 2030
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Rising digital economy, growing demand for 5G enabled smartphones, interest rates and private 5G networks will drive the growth of the 5G infrastructure equipment industry. The rising digital economy especially is expected to be a major driver for the 5G infrastructure equipment manufacturers market. There is an increase in broadband and internet penetration, consumption of premium content digitally, exponential growth in data absorption, government’s focus on digitalization in developing and developed nations, and an increasing trend of technology adoption across industries. The evolution in the digital economy will require significant performance of the network and will pave way for establishing 5G technology. As a result, companies in the telecom industry are expanding their wired and wireless networks and are venturing into 5G technology. For instance, AT&T is making instant connectivity and higher speeds possible for its customers to consume premium content by expanding their fiber network and enhancing wireless network through 5G deployment.
The global 5G infrastructure equipment market2 reached a value of nearly $2.21 billion in 2019. The 5G market size is then expected to grow at a CAGR of 69.93% from 2019 and reach $18.44 billion in 2023.
The 5G infrastructure equipment market3 is segmented by communication infrastructure into Small Cell, Macro Cell, Radio Access Network (RAN), Distributed Antenna System (DAS). The macro cell market was the largest segment of the 5G infrastructure equipment market segmented by type of communication infrastructure, accounting for 70.5% of the total in 2019, while distributed antenna system is expected to be the fastest growing segment at a CAGR of 75.7% during 2019-2023. The market is also segmented by type of network technology into Software Defined Networking (SDN), Network Function Virtualization (NFV), Mobile Edge Computing (MEC), Fog Computing (FC).
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