5G Devices Market Will Surpass USD 26.1 Billion by 2026
The global 5G devices market in 2019 was approximately USD 2.67 billion. The market is expected to grow at a CAGR of 38% and is anticipated to reach around USD 26.1 billion by 2026.
5G is referred to as fifth-generation technology for cellular networks. 5G is a successor to 4G, fourth-generation cellular network technology. In 5G networks, 5G network service areas are divided into cells, small geographical areas. Every 5G device belonging to a cell is connected to the telephone network or the Internet through an antenna present in the cell. One of the main advantages of the 5G technology is that it has higher bandwidth and hence offer high internet speed as well as download speed. 5G networks can give download speeds up to 10 gigabits per second. This higher spending is achieved by using high-frequency radio waves. The frequency of these waves is higher than the previous cellular network technologies.
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The global 5G devices market is expected to foresee significant growth in the future owing to rapid development and deployment of 5G technology by major telecom operators around the world. Deployment of 5G technology is the primary growth driving factor for the 5G devices market.
The 5G devices market research report delivers an acute valuation and taxonomy of the 5G devices industry by practically splitting the market on the basis of different device types, frequency bands, end-users, and regions. Through the analysis of the historical and projected trends, all the segments and sub-segments were evaluated through the bottom-up approach, and different market sizes have been projected for FY 2020 to FY 2026.
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Top Market Players
Some of the essential players operating in the 5G devices market, but not restricted to include Verizon Communications, Analog Devices, NEC, Cavium, Huawei, Cisco, Intel, Nokia, Leapfrog 5G Devices, Qorvo, Ericsson, Samsung, SK Telecom, ZTE, Korea Telecom, Mediatek, MACOM, T-Mobile, among others.