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Need for Uninterrupted Connectivity to Drive Demand in Global 5G Applications and Services

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Published on : Sep 03, 2020

ResearchMoz.us has announced the addition of a report, titled “Global 5G Applications and Services Market Size, Status and Forecast 2020-2026”. The report on the global 5G Applications and Services market offers an elaborate assessment of key growth trends and drivers, recent developments in the market, the competitive ecosystem, and opportunity and challenges analysis. Segments in the report are created by product type, application, and region.

By type, the segment is further divided into enhanced mobile broadband, fixed wireless access, massive machine type communications, ultra-reliable low latency communications, and others. By application, the segment includes division into media and entertainment, telecommunications, government, banking, automotive, consumer electronics, energy and utilities, and others.

A number of factors are at play in the market landscape that are helping it chart a high growth curve over the forecast period of 2020 and 2026. A major one is increase in demand for data networks with low latency. Besides, there is demand for ultra-reliable networks that can improve connectivity of mobiles in a major way. Additionally, use of mobiles and data services for telemedicine and monitoring of patients, especially those in remote locations, is creating demand for 5G applications and services.

Furthermore, it is gaining a place of prominence in transportation and logistics owing to improvement in vehicle-to-infrastructure and vehicle-to-vehicle connectivity. This translate to uninterrupted connectivity, ready to drive demand in autonomous vehicles.

Also, it is important to note here that rise of smart technology, due to increasing adoption of Internet of Things (IoT) is leading to higher demand for 5G applications and services. This increase in adoption can be noted in increase in popularity of smart homes and in creation of smart cities. Besides, industries, experiencing the 4.0 revolution, are witnessing need for seamless connectivity among devices using Internet of Things, calling for 5G applications and services. It is particularly true of the manufacturing sector that is looking for a higher efficiency in industrial processing, thus adopting IoT based robots, devices and actuators.

The global 5G Applications and services market is quite fragmented and key players that are also profile in the market report include Airtel India, AT&T Intellectual Property, China Mobile, Cisco, Deutsche Telekom AG, EITC, Intel, KT Corp, Nokia, NTT Docomo, Samsung, Ericsson, Verizon Wireless, Telstra Wholesale, and
Vodafone Limited. 

It is worth noting here that major players are highly focused on working out a robust infrastructure for 5G so that a faster machine to machine communication can be facilitated. Another strategy that market players will actively seek out include alliances with synergistic partners. This will not only help the players gain a strong foothold in certain regions but also improve the portfolio of products. 

As per the market research report, the global 5G applications and services market will grow at a considerable Compound Annual Growth Rate over the forecast period. The CAGR will lead to a high market valuation and a number of interesting opportunities flanking the market landscape.

Get Sample PDF (including COVID19 Impact Analysis, full TOC, Tables and Figures) of Market Report @ https://www.researchmoz.us/enquiry.php?type=S&repid=2602220

Region-wise, the market report is segmented into North America, China, Europe, India, Japan, South East Asia, and Central and South America. The analysis includes a projection of growth statistics for these regions and explains which one would chart the highest growth and which one would create the largest number of growth opportunities. It is worth noting that due to high adoption of advanced technology and presence of renowned players, the North American region will demonstrate significant performance. However, good opportunities will keep the market players interested in the Asia Pacific (APAC) region over the forecast period.