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Rising Use of IoT Solutions for Business Efficiency to Drive 5G Equipment Market

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Published on : Nov 01, 2016

ALBANY, NY, Nov 01, 2016: The global 5G equipment market is anticipated to witness tremendous growth, expanding at a whopping 32% CAGR from 2016 to 2020. A growth in complementary technologies such as network functions virtualization (NFV) and software defined networking (SDN) is expected to create positive conditions for the 5G equipment market. NFV and SDN offer seamless integration with infrastructure layers, enhanced flexibility, and also enable centralization of control functions. They help reduce the reliance on hardware-based network equipment and divert the focus on software and server-based infrastructure.

The rising penetration of the Internet of Things (IoT) is having a positive influence on the global 5G equipment market. 5G equipment players in the market are conducting trials on 5G technology by partnering with network equipment providers such as Nokia, Ericsson, and Huawei Technologies. Players in the market are developing newer and faster wireless technologies so as to meet the changing demands of clients. Although players come under high pressure owing to dynamic customer requirements, this is expected to help the market grow and intensify competition in the market. Thus, technological innovations and strategic partnerships are expected to give a boost to the global 5G equipment market. Some of the key players in the market are AT&T, China Mobile, KT, NTT DOCOMO, Orange Business Services, Singtel, SK Telecom, Sprint, and Telenor.

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It is estimated that by 2020 the number of customers using LTE technology will scale up to 2.2 bn owing to an increase in the number of high bandwidth applications and data capable devices. This is expected to aid the growth of the market. In addition to this, the rapid deployment of smart grid systems will increase, which will aid the growth of the market. Devices such as smart energy meters, supervisory control and data acquisition (SCADA) systems, and similar other communication networks are being used to control and manage complex smart devices and reduce the risk of outages and grid failure. This in turn is expected to create a need for sophisticated control systems to manage different assets. Moreover, smart grids help control the demand for power generated by distributed and interconnected power producers with the support of a 5G network. This is expected to fuel the adoption of 5G fast and secure network in the coming years. 

The report segments the global 5G equipment market on the basis of geography into the Americas, Asia Pacific, and EMEA. Of these, the Americas is leading the market at present and is expected to continue to do so, owing to the rising use of IoT solutions for business efficiency. In addition to this, the penetration of social media and online applications is creating a heightened need for telecom operators to provide high quality services, thus driving the 5G equipment market. 

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