The increase in environment awareness is a significant factor driving the growth of the Global 5G mm Wave market in the forecast period 2024-2028.
According to the TechSci Research report, “5G mm Wave Market – Global Industry Size, Share, Trends, Competition, Opportunity and Forecast, 2018-2028,“, The global 5G mm Wave Market is anticipated to expand in the coming years. For service providers, connectivity in the industrial and business sectors is anticipated to produce sizeable long-term revenue streams. Given the 5G mm Wave’s constrained radio propagation, it is possible to confine respectable radio coverage to a small area. High-band spectrum allocations are being chosen in some countries for the next wave of Industry 4.0 applications, where wireless connectivity provides the necessary flexibility for installations and applications while maintaining low latency.
Following the COVID-19 pandemic, the demand for edge computing is expected to skyrocket for the next three to four years, as the strain on expanding the core network is unlikely to abate anytime soon. Working from home is expected to become the new normal, and the healthcare system’s saturation with online consultations will give birth to a network architecture requiring minimal connectivity and robust security. Telecom companies are likely to seize this opportunity because the cost of establishing advanced facilities as well as full-sized data centres will outweigh the cost of edge facilities per unit. This financial advantage may hasten telecom firms’ transition to large-scale data centre development during the forecast period.
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The Global 5G mm Wave Market is segmented into Component, Bandwidth, Application and Industry, Region, and Competitive Landscape.
The widespread deployment of 5G mobile networks may hasten the adoption of AR and VR. Massive amounts of information must be accessible and processed in real time by AR and VR devices. Greater flexibility is made possible by 5G in use cases like augmented reality (AR), which is frequently used on smartphones or tablets in museums to display extra content for exhibits.
According to regional analysis, due to ongoing technological advancements in 5G technology, the North American market for 5G millimetre held the largest revenue share in 2021. Countries’ increasing adoption of connected cars 5G mm Wave is used in the automotive industry to increase efficiency and advances in vechiles which is the major factors that are anticipated to significantly support market revenue growth over the forecast period.
The Asia Pacific 5G millimeter wave market will account for a sizable revenue share in 2020, owing to widespread adoption of edge computing and increased government investments in telecommunications system advancements in the region.
Major market players operating in the Global 5G mm Wave Market are:
- NXP Semiconductors
- Airspan Networks
- American Telephone and Telegraph
- SoftBank Corp
- Corning Incorporated
- Nokia Corporation
- NTT Docomo
- Huawei Technologies Co., Ltd.
- Verizon Communications Inc
- Rakuten Mobile
- Renesas Electronics Corporation
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“Global 5G mm Wave Market is expected to thrive because ongoing advancements in edge computing with multi-functional edge computing approaches, which is expected to break the technological barriers between the service providers, are boosting the global 5G mm Wave market during the forecast period. The extensive need for data security and storage for gaming services from computing, as well as entertainment services such as music and movies, is a driving factor for the global market. Furthermore, supportive government policies for edge computing services with emerging technologies around the world have been positively influencing the market, with a constant desire to launch new service plans in the coming years..” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
“5G mm Wave Market– Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028, Segmented By Component (Hardware, Solutions and Services), By Bandwidth (24Ghz to 57Ghz, 57Ghz to 95Ghz, and 95Ghz to 300Ghz), By Application, (Real Time Surveillance Cameras, AR/VR, Industry 4.0, Live Streaming, Ultra-High Definition Video, Transport Connectivity, Others), By Industry (Aerospace and Defense, Telecom, Automotive and Transportation, Public safety, Healthcare and Life science, Media and Entertainment, and Others), By Region, By Competition “, has evaluated the future growth potential of Global 5G mm Wave market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Global 5G mm Wave Market.
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