5G Infrastructure Market to be Worth $95.88 Billion by 2030: Grand View Research, Inc.
SAN FRANCISCO, May 9, 2022 /PRNewswire/ -- The global 5G infrastructure market size is estimated to reach USD 95.88 billion by 2030, registering a CAGR of 34.2% from 2022 to 2030, according to a new study by Grand View Research, Inc. Significant investments by communication service providers to deploy 5G infrastructure across the globe to offer improved data services are estimated to drive the market. Additionally, robust innovation in next-generation 5G network equipment and deployment module will help in bringing down the overall deployment costs for service providers, thus boosting 5G infrastructure deployment during the forecast period.
The significantly growing demand for high bandwidth connectivity for several use cases, such as accessing ultra-high definition (UHD) videos, cloud-based AR/VR gaming, and HD video meetings, is expected to boost the market growth during the forecast period. Moreover, a wide range of industries, including manufacturing, oil and gas, mining, and energy and utility, are investing a massive amount in deploying 5G networks.
Key Insights & Findings from the report:
Read 150-page market research report, "5G Infrastructure Market Size, Share & Trends Analysis Report By Component (Hardware, Services), By Spectrum (Sub-6 GHz, mmWave), By Network Architecture, By Vertical, By Region And Segment Forecasts, 2022 - 2030", published by Grand View Research.
5G Infrastructure Market Growth & Trends
The 5G network helps industrial facilities to enhance their overall productivity and operational efficiency. Thus, the growing need for high bandwidth capacity to establish unified connectivity to millions of Industrial IoT (IIoT) devices is expected to foster market growth through 2030. With the emergence of 5G technology, the transportation and logistics industry is shifting towards a significant transformation in order to build an autonomous ecosystem. The deployment of a 5G network will help in delivering seamless data speed for various transport applications, including ships and ports, Vehicle-to-Everything (V2X), and drone connectivity.
Moreoer, a notable demand for high-speed bandwidth capacity for emergency healthcare applications, such as remote patient surgeries, is estimated to strengthen the market growth from 2022 to 2030. Besides, robust demand for 5G data services in rapidly building several smart cities for energy management and cloud storage applications is further anticipated to expand the market growth.
The ongoing COVID-19 pandemic has had an adverse impact on the market for 5G infrastructure. Several telecom equipment manufacturers across the globe have temporarily halted the production and export of 5G equipment. Additionally, federal governments across key countries such as the U.S., France, the U.K., and Australia have temporarily postponed 5G spectrum auctions in their countries. Further, the escalating trade war between the two largest economies, coupled with the rising security concerns, is estimated to hinder the market growth.
5G Infrastructure Market Segmentation
Grand View Research has segmented the global 5G infrastructure market on the basis of component, spectrum, network architecture, vertical, and region:
5G Infrastructure Component Outlook (Revenue, USD Million, 2018 - 2030)
5G Infrastructure Market - Spectrum Outlook (Revenue, USD Million, 2018 - 2030)
5G Infrastructure Market - Network Architecture Outlook (Revenue, USD Million, 2018 - 2030)
5G Infrastructure Market - Vertical Outlook (Revenue, USD Million, 2018 - 2030)
5G Infrastructure Market - Regional Outlook (Revenue, USD Million, 2018 - 2030)
List of Key Players in the 5G Infrastructure Market
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.