According to the firm, the rise in network densification, growing mobile data traffic, the emergence of the Citizens Broadband Radio Service (CBRS) band, and a surge in investment in 5G infrastructure by several economies have boosted the growth of the global small cell 5G network market.
However, the report found that small cell deployment challenges and concerns related to fiber backhaul are the factors that hamper the market growth. On the contrary, the emergence of the Internet of Things (IoT), and the rise in demand for ultra-reliable low latency communications are expected to create lucrative opportunities in the near future.
The report, titled, "Small Cell 5G Network Market” divides the market by Component (Solution and Service), Radio Technology (Standalone and Non-standalone), Frequency Band (Low-band, Mid-band, and Millimeter Wave), Cell Type (Femtocells, Picocells, and Microcells), and Application (Indoor Application and Outdoor Application).
The solutions segment held the largest share in 2018, contributing to more than two-thirds of the global market, owing to its ability to converge various hyperdense network architectures into the advance scalable architectures. However, the services segment is projected to register the fastest CAGR of 48.4% during the forecast period, owing to its ability to increase capacity in operator networks across an array of locations and addresses.