The 5G infrastructure market is estimated to be valued at USD 784 million in 2019 and is projected to reach USD 47,775 million by 2027, at a CAGR of 67.1%. The major driving factors is the lower latency in 5G, growing adoption of virtual networking architecture in telecommunications, and growth in mobile data traffic are driving the market. Increasing M2M connections across various industries are also expected to drive the 5G infrastructure growth during the forecast period.
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APAC to witness highest CAGR in 5G Infrastructure market during forecast period
This high growth in APAC is attributed to the adoption of new technologies and advancements in organizations across various industries. 5G network would play an integral role in advanced technologies such as IoT and machine-to-machine communication (M2M), as well as in smart cities and industrial automation. Also, the 5G infrastructure market has huge opportunities in smart cities. Various countries in Asia have either initialized the implementation of smart city projects or are in the planning phase.
The major players in the 5G infrastructure market are Huawei (China), Ericsson (Sweden), Samsung (South Korea), Nokia Networks (Finland), ZTE (China), NEC (Japan), CISCO (US), CommScope (US), Comba Telecom Systems (Hong Kong), Alpha Networks (Taiwan), Siklu Communication (Israel), and Mavenir (US).
Small cell for 5G infrastructure held the largest market share in 2019
The market growth of small cells is attributed to low-power wireless access points that provide better quality cellular coverage and capacity for homes, enterprises, metropolitan public spaces, and rural public spaces. In the 5G network, customers expect high speed of data communication with high reliability, which acts as one of the major challenges for network operators. To overall come this challenge, network operators look forward to deploying small cells on a large scale as an alternative to address the need for high speed and highly reliable data communication.
Network function virtualization to grow at higher CAGR in 5G infrastructure market during forecast period
The NFV is designed in such a way that a network operator can quickly implement different network functions via software that can be run on standard server hardware and can be easily shifted or installed in various locations in the network as per requirement without the need to install new hardware equipment. In other words, the network provider will no longer need to procure dedicated or application-specific hardware devices to build, add, or to offer new services. These factors are expected to fuel the growth of NFV in the coming years.
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