In Europe the market is expected to grow at a considerable rate owing to the presence of well-established 5G infrastructure providers. For instance, Vodafone is planning to roll out 5G technology tests in Birmingham, Manchester, Liverpool, Glasgow, Bristol, London, and Cardiff.
In 2018, the market in Asia Pacific was valued at US$ 162.1 Mn and is expected to grow at a substantial rate in the forthcoming years mainly due to rising support from government and private industries.
Rising demand for mobile bandwidth among consumers worldwide is augmenting demand for 5G networks. Smart city growth and demand for IoT connectivity sensor devices is increasing. This, in turn, is contributing to the development of 5G infrastructure. Some of the emerging applications such as self-driving cars and augmented reality (AR) also support the development of 5G infrastructure.
The burgeoning demand for smartphones, laptops, and computers and other connected devices is creating demand for advanced networks. Under Industry 4.0, IoT devices, vehicles, equipment, and machinery are connected to each other – all requiring high speed internet coverage. Today, current 4G networks cannot deliver the speeds and latency required for such technology, whereas 5G is poised to fill the gap. Furthermore, distributed antenna systems used in 5G infrastructure enable several advanced services.
To highlight the potential of 5G, Nokia partnered with T-Mobile in July 2018 to build a 5G wireless network – a multi-year agreement valued at $3.5 billion.