The global 5G wireless ecosystem market reached a robust valuation of US$ 84,076.7 Mn in 2020. The market will exhibit strong growth, rising at 25.21% CAGR during the 2021-2029 period, as demand for data continues to grow. The rising adoption of advanced technologies like AI, machine learning, and cloud migration will create enormous opportunities for current players in the global 5G wireless ecosystem market.
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Consumer Preference for High-End Models Remains a Promising Driver of Growth
Benefits of 5G technology including high-volume data transfer, real-time video conferencing, new avenues of entertainment, and productivity, as well as consumer willingness to purchase high-end models is a clear emerging trend in the global 5G wireless ecosystem market. In the U.S., wherein 5G infrastructure development has reached its peak, the iPhone 12 Pro, the most expensive Apple phone till date has become the most popular 5G phone in 49 out of its 50 states. Furthermore, Apple also became the fastest selling OEM in China, surpassing even local manufacturers with 32% YoY growth in the first quarter of 2021. On the other hand, more economic brands like Vivo, and Xiaomi have witnessed a dip in their market share in China during the same period. Ericsson stated in its reportin 2020, that the 5G mobile subscriptions will exceed 580 million users by 2021 end, rising from nearly 70 million in the first quarter. The company also anticipates the total users to reach 3.5 billion by 2026 end, covering 60% of the global population. As 5G infrastructure development steamrolls to accommodate rising demand for data, and mobile manufacturers launch economic models to meet global hunger for internet access, the 5G wireless ecosystem will create robust opportunities for growth for new players in the global landscape. The report also anticipates that North-East Asia will become the largest home to global 5G mobile subscribers, with 1.4 billion users by 2026.
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Enhanced Mobile Broadband Likely to Retain Largest Share of Revenues
Enhanced mobile broadband services will likely remain ahead of the curve, owing to the growing demand for reliable, and high-output access geared towards high productivity. The demand for such access among enterprises remains high, as cloud migration continues to be a key trend driving digitalization in many sectors. Microsoft, a key player in the cloud migration sector has noted that financial services are ahead of the industry curve when it comes to cloud migration. The low-cost distribution channel, rising productivity enhancement tools, and growing availability of a reliable, and safe service are key drivers of cloud migration for financial services. The 5G deployment around the world is likely to exhibit strong growth in financial sector as demand for applications like video conferencing, virtual reality, 3D video capturing technology, and supporting hardware like 4K television sets make their way in the market. Major expansion plans of telecom giants like Verizon and AT&T will likely leave behind rural population for some time. The current infrastructure deployments will largely cover metro areas first, and will expand to rural areas later. This is a notable restraint that will limit adoption of 5G services in rural areas till end of 2024. Additionally, the covid-19 pandemic has also pushed conventional medical practices to become digital, thanks to growing demand for telemedicine. This will be a notable trend in the global arena. In key countries like the US, notable inequalities exist in the rural and urban healthcare infrastructure. Such inequalities cannot be addressed with conventional healthcare infrastructure as pharmacies continue to experience closures in rural area, and public investment in healthcare around the globe continues to remain notably low. The growing demand for equal access to healthcare, increased burden of life-threatening conditions like cancer, and growing efficacy of telemedicine will drive major growth of the 5G wireless ecosystem market.
Telecom Sector Pledges Large Investments to Drive 5G Infrastructure Development
The GSMA association is a global industry group of 12000 telecom operators worldwide. This association has pledged $400 billion investment during 2020-2025 around the world. Its members will engage in robust infrastructure for 5G deployment during the 2020-25 period, most of it will be spent in Asia Pacific region. Julian Gorman, head of APAC for GSMA noted that Asia Pacific is quickly gaining grounds in 5G deployment globally, as nine countries in the region have launched commercial mobile 5G services, and 12 have announced plans to do so in the near future. He has also called on government bodies around the world to support a favorable business environment to encourage investment to reach every Asian citizen in the near future. These factors are driving the demand for 5G wireless ecosystem market.
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The Impact of Covid-19 on the Global 5G Wireless Ecosystem Market
The covid-19 pandemic has been the bearer of some really good news, and bad new for investors. On one hand, the covid-19 pandemic has delayed 5G-related infrastructural developments around the world. Moreover, due to the fall in individual incomes globally, the sales of 5G mobiles have also taken a beating. On the other hand, the pandemic has also reiterated the need for a strong push to enable trends like remote working, AI to support automated manufacturing, and to build a digital economy. For example, the European Union has committed a major portion of €150 billion digital budget to finance 5G network infrastructure. In its report, the commission anticipates €500 billion annual revenues through added 5G infrastructure. As of January, 2021, Europe is home to 478 5G-enabled cities in the world. Moreover, this infrastructure development is just the tip of the iceberg, as 63.8% of the total 5G spectrum is yet to be allocated. Countries like China, Korea, and the US have taken a strong lead in the 5G deployment as median download speeds in China today have reached 301.60 Mb/s. The strong vaccination drives around the world will likely result in robust economic recovery by 2021 end, and open up tremendous opportunities for players in the 5G wireless ecosystem market.
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5G Wireless Ecosystem Market:
By Components
- Chipsets
- FPGA
- Others
- Wireless Devices
- Enterprise Access Equipment
- Macro Base Stations
- Small Cell Infrastructure
- 5G Communication Service
- Network Switches and Routers
- Others
By End Users
- Enterprise
- Individuals
By Region:
- North America
- U.S.
- Canada
- Mexico
- Rest of North America
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Nordic Countries
- Denmark
- Finland
- Iceland
- Sweden
- Norway
- Benelux Union
- Belgium
- The Netherlands
- Luxembourg
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- New Zealand
- Australia
- South Korea
- Southeast Asia
- Indonesia
- Thailand
- Malaysia
- Singapore
- Rest of Southeast Asia
- Rest of Asia Pacific
- Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
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