Small Cell 5G Network Market to Reach $6.87 Bn, Globally, by 2026 at 45.3% CAGR, Says Allied Market Research
Surge in network densification, growing mobile data traffic, emergence of Citizens Broadband Radio Service (CBRS) band are the major factors driving the growth of the global Small Cell 5G Network Market. North America region dominated the market in 2018
PORTLAND, Oregon, Nov. 20, 2019 /PRNewswire/ -- Allied Market Research recently published a report, titled, "Small Cell 5G Network Market by Component (Solution and Service), Radio Technology (Standalone and Non-standalone), Frequency Band (Low-band, Mid-band, and Millimeter Wave), Cell Type (Femtocells, Picocells, and Microcells), and Application (Indoor Application and Outdoor Application): Global Opportunity Analysis and Industry Forecast, 2019-2026". According to the report, the global Small Cell 5G Network industry accounted for $344 million in 2018 and is projected to reach $6.87 billion by 2026, registering a CAGR of 45.3% from 2019 to 2026.
Driving factors for the market
Rise in network densification, growing mobile data traffic, emergence of Citizens Broadband Radio Service (CBRS) band, and surge in investment in 5G infrastructure by several economies have boosted the growth of the global Small Cell 5G Network Market. However, small cell deployment challenges and concerns related to fiber backhaul are the factors that hamper the market growth. On the contrary, emergence of Internet of Things (IoT), and rise in demand for ultra-reliable low latency communications are expected to create lucrative opportunities in the near future.
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The solutions segment held the lion's share
The solutions segment held the largest share in 2018, contributing to more than two-thirds of the global Small Cell 5G Network Market, owing to its ability to converge various hyperdense network architectures into the advance scalable architectures. However, the services segment is projected to register the fastest CAGR of 48.4% during the forecast period, owing to its ability to increase capacity in operator networks across an array of locations and addresses.
The millimeter wave segment to portray the fastest growth through 2026
The millimeter wave segment is expected to manifest the fastest CAGR of 51.5% during the study period, owing to featurs including ubiquitous coverage, ultra-high capacity, ultra-wide bandwidth to support flexible & compatible services. However, the mid-band segment held the largest share in 2018, accounting for nearly half of the global Small Cell 5G Network Market, as with surge in number of 4G and subscriber data speeds the exponential value of ten Kbps to several Mbps has evolved from several Mbps to hundreds of Mbps.
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North America dominated the market in 2018
The global Small Cell 5G Network Market across North America region dominated the market in 2018, contributing to nearly half of the market and is anticipated to maintain its dominance throughout the forecast period. This is due to the factors including high number of players, rise in strategic trails to launch 5G technologies, and equipment in this region. Moreover, Asia-Pacific is expected to register the fastest CAGR of 52.3% through 2026. This is due to the mobile cellular industry in the region is rolling out diverse technical and commercial solutions with the arrival of small cells for 5G networks.
Major market players
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