5G Technology Market to Gain Significant Growth due to High-Speed Data Demand

5G Technology Market to Gain Significant Growth due to High-Speed Data Demand

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A market research report by Transparency Market Research (TMR), titled “5G Technology Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 – 2023,” offers a detailed evaluation of the market. It offers a comprehensive study of the various factors influencing the growth of the global 5G technology market. The emergence of 5G technology as a new mobile access paradigm of large network coverage, high-speed data, and large data capacity has imparted the primary appeal to this technology. Factors such as increasing demand for broadband services over mobile networks, growing machine-to- machine communication in organizations, and rising need for spectrum sharing are driving the growth of the global 5G technology market.

Rise in several applications such as distance learning, autonomous driving, opera live streaming, multi-user gaming and video conferencing, telemedicine, augmented reality, and smart city projects are anticipated to boost the adoption of 5G technology. However, enormously wide variations in delivery infrastructure are likely to challenge 5G technology providers in fulfilling the requirements. Furthermore, some of the 5G features are expected to get incorporated in LTE-A+, which will reduce the differentiation factors between the two. These factors are estimated to hamper the growth of the global 5G market.

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The 5G technology is yet to be commercialized. The standards are likely to be defined by 2018 and several players are planning to launch this technology by 2020. Some of the key companies involved in the 5G technology market are Deutsche Telekom AG, Alcatel-Lucent S.A., Fraunhofer-Gesellschaft, NTT DOCOMO Inc., Qualcomm Inc., Ericsson (Telefonaktiebolaget L. M. Ericsson), Huawei Technologies Co. Ltd., Samsung, and Nokia Siemens Networks.

In order to maintain a robust standardization framework, several universities such as Aalto University, Aalborg University,  KTH – Royal Institute of Technology, Chalmers University of Technology, University of Bremen, National and Kapodistrian University of Athens, Poznan University of Technology,  RWTH Aachen University, University of Oulu, and University of Kaiserslautern are contributing to the development of 5G technology.