5G Development Market Growth in Korea, United States, China, Europe and Japan | Valuates Reports
BANGALORE, India, Oct. 16, 2020 /PRNewswire/ -- Major factors driving the growth of 5G development market size include the rising adoption of virtual networking architectures in telecommunications and the rise in mobile data traffic. It is also projected that growing M2M connexions across different industries would fuel the growth of 5G development market size during the forecast period.
This report summarises the recent significant developments in the implementation of 5G in five major regions, including Korea, China, Europe, Japan, and the United States, and analyses potential impacts.
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COVID IMPACT ON 5G DEVELOPMENT MARKET
The pandemic has affected the speed and timeline for global 5G commercialization. Different isolation mechanisms also made the introduction of 5G base stations more difficult. The extension of 5G spectrum bidding plans has been announced by some nations, which has also decreased customers' ability to embrace 5G.
REGION WISE 5G DEVELOPMENT MARKET SIZE ANALYSIS
The introduction of 5G is expected to bring about massive transformations in the U.S., technology, media, and telecom industries in the nation; the U.S. is expected to get a substantial market share. The U.S. government is making strides in promoting the 5G industry with new spectrum allocations.
During the forecast period, the United States (U.S.) 5G development market size is anticipated to show a double-digit growth rate. The United States was the first nation to offer commercial 5 G services. By the end of 2018, numerous telecommunications providers in the U.S. intend to introduce 5G wireless services around the world.
In the United States, sales growth has been higher than any of the other mature markets. This trend has been driven largely by higher use of both voice and messaging services, as well as a more recent rise in user engagement, leading to higher data use levels.
South Korea has established itself as the early market-leader for 5G development due to funding from various private and public entities. It is expected that most of these investments will concentrate on the implementation of next-generation media and entertainment infrastructure, transport and logistics, healthcare, and manufacturing. Such investments are estimated to propel South Korea's demand growth over the projected period.
China has emerged as one of the most active 5G-promoting countries and is projected to be one of the top four markets driving 5G growth in Asia. During the forecast period, China is projected to become the largest 5G market in the world.
The European 5G development market is improving the usability of M2M / IoT connexions and the rise in demand for mobile broadband services in Europe. However, the slow speed of digitization is hindering business growth. On the other hand, the growth in government programs for the creation of smart cities drives the growth of the 5G development market size.
Analysis of Change in Chinese Telecoms 5G Deployment Plans Following China's Early 5G Commercialization.
China MIIT (Ministry of Industry and Information Technology) granted 5G licenses to China's three major telecom operators, including China Mobile, China Telecom, and China Unicom, as well as China Broadcasting Network, allowing them to provide commercial 5G services.
This move marks the commercialization of 5G six months ahead of schedule. The Chinese government's decision to grant 5G licenses ahead ofschedule is to keep up with the U.S., Korea, Switzerland, and the U.K., which have launched commercial 5G services. By doing so, the Chinese government hopes to boost domestic demand to help Huawei overcome the U.S. ban, which has affected its business dramatically.
This report provides an overview of 5G service licenses granted to three major Chinese telecom operators as well as looks at their 5G network coverage and examines how their 5G network structure has shifted from S.A. (Standalone) 5G N.R. to NSA (Non-standalone) 5G architecture.
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China has demonstrated its dedication to 5G communications technology from governments to businesses, aiming to play a more important role in the next round of the competition.
Since 2014, China has launched a series of 5 G development support policies, allowing the technology to take a major leap forward.
China's top three telecoms in the industrial sector, China Telecom, China Unicom, and China Mobile, have joined forces with Huawei and ZTE, China's two leading 5 G equipment manufacturers, and other foreign suppliers to accelerate 5 G field trials scheduled to take place between 2017 and 2019. China aims to promote the growth of 5 G technology and the introduction of 5 G networks through these trials.
? 5G Market
The 5G market size was USD 38 Million in 2018 and will hit USD 671.2 Million by 2025, with a CAGR of 41.9 percent over the forecast period.
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The 5G Tester market was valued at USD 548.4 Million in 2018 and is projected to reach USD 1442.8 Million by 2025, at a CAGR of 14.8% during the forecast period.
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