3 Key Trends Expanding Global 5G Infrastructure Market Size
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Global 5G infrastructure market share has shown tremendous growth in recent years, thanks to the robust demand for high-speed network connectivity. The ownership rate of smartphones is growing at a notable pace every year across both developed and developing economies.
According to the GSMA Mobile Economy 2022 report, in 2021, the number of mobile internet users globally reached 4.2 billion. The report further states that by 2025, 5G will reach at least a quarter of the total mobile connections. This scenario indicates the rapid installation of 5G infrastructure across the world.
The Global 5G infrastructure market value will surpass USD 60 billion by 2028. Following are the top trends that will foster the demand for 5G components:
1. E-Commerce Will Boost 5G Infrastructure Deployment
The advent of e-commerce platforms has completely transformed how people buy and sell products. 5G technologies can play a significant role in enhancing the efficiency and performance of this sector.
5G networks can help brands improve the shopping experience of their customers by using cutting-edge technologies like AR and VR to assist shoppers in finding the right product for their needs. Indian startup Lenskart, for example, was one of the first eyewear companies to introduce 3D try-ons to help customers find the right pair of glasses from the comfort of their homes.
To make high data-consuming technologies work smoothly on portable devices, the demand for 5G infrastructure will rise considerably.
2. 5G Technologies Will Support Expansion of Automotive Sector
The global automotive sector is growing substantially because of the increasing number of on-road vehicles. This growth will be strengthened by the rising adoption of innovative technologies in autonomous and semi-autonomous vehicles. While the idea of self-driving cars is still an evolving one, customers are lining up to get their hands on such innovative products.
With the help of 5G connectivity, cars can communicate with their components to help drivers better navigate through heavy traffic or detect blind spots while parking. Tesla, for instance, has installed eight cameras and 12 ultrasonic sensors in each of its self-driving cars.
The cameras will help customers get a 360-degree view of their surroundings, while the sensors will accurately detect objects near or far. 5G technologies will be vital for the efficient functioning of these systems.
3. Europe Will Witness Large-Scale Deployment of 5G Infrastructure
Europe’s 5G infrastructure market size will expand significantly due to the favorable policies implemented by regional governments. Public authorities are exploring the potential of this technology in boosting the region’s economic growth and development. 5G infrastructure will soon become an indispensable part of most industries like automotive, healthcare, government, and e-commerce, which is why governmental support is so important to implement these technologies.
The European Court of Auditors (ECA), in its March 2022 report, spotlighted the 5G rollout across the region. The report revealed that by the end of 2020, nearly 23 Member States of the EU had commercialized 5G services, thereby achieving their objective of extending the 5G access to at least one major city.
The Global 5G infrastructure industry outlook will remain progressive through 2028 due to the introduction of government initiatives to support the expansion of 5G networks. Organizations such as Airspan Networks, Affirmed Networks, Altran Technologies, AT&T, Inc., Comba Telecom, Cisco Systems, Inc., and Hewlett Packard Enterprise, among others, are the leading providers of 5G solutions. They are developing standalone & non-standalone architectures and hardware & software components that will make it easier to access 5G networks.