The information provided in this worldwide 5G equipment market research study on the market's effects following COVID-19 will be helpful to businesses as they assess their strategies. The segmentation of the global 5G equipment market by product (macrocell, small cell, and others) and geography is also covered in-depth in this study (North America, Europe, APAC, MEA, and South America). The study on the worldwide 5G equipment market also provides data on a number of industry players, such as Cisco Systems Inc., Fujitsu Ltd., and Huawei Investment & Holding Co. Samsung Electronics Co., NEC Corp., Nokia Corp., Qorvo Inc., Qualcomm Inc. among others include ZTE Corp., Telefonaktiebolaget LM Ericsson, and Ltd.
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5G Equipment Market: Key Drivers, Trends, and Challenges
The adoption of 5G networks for smart cities is significantly fueling the growth of the worldwide 5G equipment market, however there are some issues with energy efficiency in 5G small cell networks that could restrain market expansion. Our research experts have analysed historical data to determine the COVID-19 pandemic's impact on the global 5G equipment market as well as the key market drivers. To achieve a competitive edge, end goals can be determined and marketing strategies can be improved with the aid of a comprehensive analysis of the drivers.
Key 5G Equipment Market Driver
One of the main factors propelling the expansion of the worldwide 5G equipment market is the deployment of 5G networks for smart cities. As a result of the advanced technology that makes them more practical, smart cities are becoming more and more popular. Construction of interconnected and coordinated public services and infrastructure in these cities frequently uses information and communication technology (ICT). Communication is a crucial part of the overall infrastructure because every component needs to be interconnected and connected to the Internet. Services for wireless, wireline, and internet communications are all required for commercial use.A vast number of machine-to-machine communication applications are required for a smart city. Just a few of the many applications for MTC include smart metering, property monitoring, logistics management, and smart parking. These massive applications employ relatively slow data rates yet necessitate significant long-range connectivity because they are installed in challenging environments like farms and basements. The need for 5G networks will increase as communications and data transmission become more effective.
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Key 5G Equipment Market Trend
The global 5G equipment market will increase due to the expanding R&D and deployment of the 5G network. R&D initiatives and ground-breaking breakthroughs are anticipated to grow in the future. The expansion of R&D operations will probably continue throughout the hypothesised time frame, along with improvements to products that join cutting-edge technology. Qualcomm Inc. (Qualcomm) announced $200 million in venture subsidies for companies building the 5G biological system in October 2019. Since 2018, Ericsson has concentrated on 5G R&D and has made more than $350 million in contributions. The company is concentrated on developing 5G and other innovative portable technologies. Chinese vendor Huawei completed testing of the 5G New Radio using a 2.6GHz
IMT-2020 (5G) promotion group-organized 5G testing using GHz spectrum. The company's commanding position in test completion and newly acquired results speed up the development of 5G technology R&D and aid in the creation of a set of universally accepted international standards, enabling China to successfully complete the second phase of the 5G test. Vendors will be forced to create wireless test equipment that successfully supports 5G technology as a result of the advancement of the technology.
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Key 5G Equipment Market Challenge
The energy efficiency issues in 5G small cell networks are a significant barrier to the expansion of the worldwide 5G equipment industry. According to projections, 5G networks will facilitate communication between connected devices, including autonomous cars, electronic healthcare, smart cities, and building and home automation. The use of 5G networks in these applications will make it possible to monitor and manage numerous connected devices in real-time. These applications' use of 5G networks will increase the risk of cyberattacks.Cyberattacks on 5G networks include compromising several devices to execute a Distributed Denial of Service (DDoS) assault on crucial target servers or hacking linked devices to gather customer data. Additionally, it will be difficult for many tiny cell manufacturing companies to achieve the aforementioned requirements. Even if it raises computing costs, the transmission power will be reduced with the use of innovations like Massive MIMO. In this way, businesses must deal with the trade-off, where they must decide whether processing or transmission power is more crucial to maintain the energy efficiency of 5G small cell systems.
Parent Market Analysis
The worldwide 5G equipment market is categorised by Technavio as a subsegment of the communications equipment industry. The degrees of growth of the worldwide 5G equipment market throughout the projected period will be determined by external factors influencing the parent market growth potential in the ensuing years, which have been comprehensively covered in our research report.
Who are the Major Global 5G Equipment Market Vendors?
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
- Cisco Systems Inc.
- Fujitsu Ltd.
- Huawei Investment & Holding Co. Ltd.
- NEC Corp.
- Nokia Corp.
- Qorvo Inc.
- Qualcomm Inc.
- Samsung Electronics Co. Ltd.
- Telefonaktiebolaget LM Ericsson
- ZTE Corp.
5G Equipment Market Key Segments:
By End User
- Retail Sector
- Non-retail Sector
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- UK
- Germany
- France
- Russia
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- Australia
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Key Market Players Profiled in the Report
- Ericsson
- Nokia
- Qualcomm
- ZTE Corporation
- Samsung
- Huawei Technologies
- AT&T
- Vodafone
- Verizon
- Sprint Corporation
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