Global 5G Market Poised to Expand 97.1% CAGR till 2025
According to a new Research on Global Markets report, the global 5G market will expand at a compound annual growth rate (CAGR) of 97.1% till 2025, following its impending commercial launch in 2020. 5G is expected to be a crucial component of a digitally connected global ecosystem, and the number of 5G users will increase by roughly 1.2 Bn during the 2019-2025 period.
According to Research on Global Markets, the ever-growing demand for improved mobile broadband experience, coupled with the global rise in the adoption of smartphones is driving the SIM cellular connections segment of the global 5G market. 5G SIM cellular connections are expected to expand at a CAGR of 129%, from 2020 to 2025. Moreover, both data consumption and speed will also increase at a considerable rate, owing to an increase in user engagement through smartphones.
SIM M2M connections are also expected to witness rapid expansion during the forecasted period. Connected home applications, such as home security and video surveillance, home automation, and tracking applications will likely account for the lion’s share of the total M2M connections (almost half a billion) by 2021. M2M devices are also set to witness increased traction in industrial sectors like retail, manufacturing, and energy, according to Research on Global Markets.
Research on Global Markets tracks the performance of the global 5G market across North America, Latin America, Europe, Asia-Pacific, and the Middle East and Africa. North America is expected to witness a considerable increase in consumer engagement with mobile devices, with majority of the engagement on videos. The region is poised to generate more than 50% of the revenue from SIM cellular connections, and 60% from SIM M2M cellular connections during the forecasted period. However, despite the dominance of the North American regions, Asia-Pacific is expected to witness the highest number of cellular subscribers by 2020.
Key highlights of this report:
- Global market overview - forecasted (2020-2025) market size (USD Bn), geography-wise market revenue (USD Bn), and market attractiveness analysis
- Qualitative analysis of the drivers and challenges affecting the global market
- Major trends in the global 5G market
- Analysis of the competitive landscape and profiles of the major players operating in the market
- Market segmentation based on connection types (SIM cellular, and SIM M2M cellular) - forecasted (2020-2025) market size (USD Bn), market observations, and influencing factors
- Market segmentation based on region (North America, Europe, Asia-Pacific, Latin America and The Middle East and Africa)
This report has been formulated and designed with the purpose of giving businesses a concise understanding of the demand for 5G network connectivity across the world to determine the viability of the market, develop strategies based on the drivers, and to help brands identify competition and respond accordingly.