Investments by communication service providers to deploy 5G infrastructure in a bid to provide improved data services across multiple industry verticals is driving the market growth. Multitude of research and advances in the field of network technologies is expected to bring down the overall installation costs for next generation 5G network equipment and deployment modules. This, in turn, is expected to boost the deployment of 5G technology and related infrastructure.
Key suggestions from the report include:
- The RAN segment is estimated to reach a market size of USD 214.7 billion by 2027, expanding at a CAGR of 112.3% from 2020 to 2027, owing to a significant rise in investments for deploying 5G cloud or centralized RAN across key countries such as U.S., U.K., Japan, and China.
- With the growing need to provide unified connectivity across IIoT devices and collaborative robots, the demand for 5G technology and related infrastructure in industrial segment is anticipated to witness considerable growth over the forecast period.
- Huge investments made by infrastructure providers in installing a 5G standalone network to deliver ultra-reliable low latency connectivity for connected vehicle applications is expected to drive market growth over the forecast period.
- The sub-6 GHz segment is expected to account for the largest market size of USD 302.4 billion by 2027, largely attributed to the governments focus on releasing sub-6 GHz frequency bands for high-speed data services across major developed economies.