Global 5G Technology Market to Witness Rising Demand from Developed Countries

Published By : 17 Feb 2016 | Published By : QYRESEARCH

Technology is evolving at a rapid pace. This is particularly true in case of mobile technology and the internet connectivity. Advent of new technologies is witnessed at least once in every decade. These technologies are designed to fix the flaws of their predecessors. Now ahead of a new decade, the advent of fifth generation (5G) technology holds promise to usher the next big change in the virtual world. Experiments are still underway to study the viability of the fifth generation of wireless technology. However, several companies as well as government enterprises have already started laying foundations to support the 5G technology infrastructure. 

5G technology will seemingly provide better and faster network connectivity than its predecessors. Furthermore, the novel technology is anticipated to provide such benefits over 4G and 3G technology at lesser power consumption. 

Major Breakthroughs in Wireless Network Technology will Boost Global 5G Technology Market

Based on technology, the global 5G technology market can be segmented into worldwide interoperability for microwave access (WiMAX), radio access technologies (RAT), Wi-Fi, high speed package access (HSPA), and global system for mobile (GSM). RAT systems need to be completely redesigned in order to accommodate the novel technology and mobile access paradigm. The market for 5G technology is therefore, poised to witness major breakthroughs in wireless network. These developments will support faster network speeds and massive capacity, subsequently boosting the market for 5G technology. 

Developed Countries Boast Lucrative Prospects for 5G Technology    

Regionally, the global 5G technology market is spread across Asia Pacific, Europe, Latin America, the Middle East and Africa, and North America.  The 5G technology sees maximum potential for growth in developed economies with already established mobile network infrastructure such as the U.S. and Japan. In the meantime, developing economies such as Korea and China also exhibits lucrative prospects for the proliferation of 5G technology in their network landscape.

The leading companies operating in the wireless network market are planning to launch compatible with 5G technology by the end of 2020. Some of the most prominent companies and universities operating in the market are Deutsche Telekom AG, MW Group Research and Technology, Alcatel-Lucent S.A., Huawei Technologies Co. Ltd., Aalborg University, NTT DOCOMO Inc., and others.

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