Netscribes, Inc.,a global market intelligence firm, released its Global 5G Market Report recently. According to Netscribes, the global 5G market will grow at an overall compound annual growth rate (CAGR) of 97% and will be worth USD 251 billion by 2025.
5G is expected to meet the rising need for bandwidth, advanced application services, and the rising inculcations of the Internet of Things (IoT). 5G networks are expected to not only drive us towards a more connected society, but also bring about socio-economic transformation in many ways – increasing productivity, sustainability, and well-being. The fifth-generation mobile technology (5G) is on its way to becoming the next big thing in the global digital connected ecosystem.
According to Netscribes, a clean and regulatory business environment, along with well-defined 5G standards are essential in order to make the most of 5G services. Some of the key challenges facing developing nations on the road to 5G adoption include inadequate spectrum, stiff competition, and lack of infrastructure.
Key highlights from the report:
- There is a rise in consumer demand for low latency network and high-speed mobile broadband experience. The advent of 5G services will cater to this need across all mobile devices and interfaces.
- The adoption of 5G will lead to the integration of mass-scale cloud architectures that will infuse mobile networks with capabilities for delivering services at unprecedented speeds, making way for a globally-connected digital society.
- Subscriber growth will be majorly witnessed from Asia, accounting for more than half of new subscribers globally.
- Margins in developing countries will remain under pressure, reflecting growth and competitive challenges coupled with increased regulatory action and ongoing network investments to roll out 4G.
For more information, download the Netscribes Global 5G Market Report.