5G infrastructure market to soar

September 03, 2019 //By Jean-Pierre Joosting
5G infrastructure market to soar
In their latest report, Fortune Business Insights details how the Internet of things (IoT) industry is rapidly evolving and is driving the global 5G infrastructure market at a rapid rate.

The report suggests that the global market will rise at a high CAGR of 76.29% during the forecast period, covering 2018 through to 2026. There is a massive demand for high speed internet among end-use industries and 5G infrastructure plays a crucial role in deploying such high speed internet services.

The analysts in the report predict that the global market is anticipated to reach US$ 50,640.4 Mn by 2026, as against US$720.6 Mn in 2018.

"5G technology is expected to positively influence connected agriculture, smart cities, machine-to-machine communication, and home automation," says a lead analyst at Fortune Business Insights. "Moreover, some of the prominent challenges faced by organizations with regards to improving reliability, performance, and connectivity can be resolved through 5G infrastructure," he added. 5G connectivity offers several advantages such as higher efficiency and high-spped data transmission than 3G or 4G networks. 

North America is anticipated to maintain its dominance in the global 5G infrastructure market. Further, the market covered a value of US$ 266.0 Mn in the year 2018. Increasing number of infrastructure projects in the U.S. is the primary factor responsible for driving the market. Early adoption of advanced technologies such as automation, IoT are significant factors driving growth. Growth in this region is also attributable to the rising demand for on-demand video services and rising trend of smart cities.

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