5G Technology Market Analysis

The global 5G technology market is segmented by application into manufacturing & utilities, professional & financial services, public services, ICT & trade, agriculture & mining and others, out of which, manufacturing & utilities segment is anticipated to hold the largest market share owing to growing trend of industrial internet of things (IIoT) and revolutionary deployment of wireless connectivity and sensors to comply with the rising trend of Industry 4.0. Growing need amongst industries in the manufacturing sector to automate industrial processes by inducing cloud computing, AI and IoT is helping to contribute towards the growth of the segment in the global 5G technology market. According to another statistical data stated in The Mobile Economy Report 2019 of The GSM Association, 5G technology is anticipated to contribute nearly USD 2.2 trillion to the global economy by 2034 at a GDP growth rate of 5.3%. Moreover, manufacturing & utilities to contribute nearly 35% of the share of the economy to 5G technology, followed by professional & financial services with 29%.

Our in-depth analysis of the global 5G technology market includes the following segments: