The surge of the COVID-19 disease has positively impacted the global 5G infrastructure market growth in 2020. This is due to a rapid increase in mobile data traffic to boost the growth of the 5G infrastructure market amidst the COVID-19 pandemic.
New York, USA, April 14, 2021 (GLOBE NEWSWIRE) -- A latest report on the global 5G infrastructure market by Research Dive unfolds the impact of COVID-19 pandemic on the current and future growth of the global industry. The report is drafted by closely evaluating important factors like prime industry drivers & limitations, current trends & advances, regional market conditions, and size & scope of the industry in the course of the pandemic. The report states that the COVID-19 pandemic has made an optimistic impact on the industry growth.
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Factors Impacting the Market Growth Prior to After the COVID-19 Pandemic
The market is expected to be driven by rising demand for high-speed internet services among users around the world during the forecast period. The 5G technology is expected to improve data speed by encouraging data processing capabilities in real time and enhancing the overall user experience. Furthermore, rising IoT adoption among users is expected to be one of the major driving factors for the market during the forecast period. Furthermore, the rise in mobile data traffic is expected to propel the growth of the 5G infrastructure market during the analysis period. Massive infrastructure with a wide range of towers and equipment is needed, which raises the infrastructure cost significantly. Furthermore, because of higher infrastructure costs, the expansion of 5G networks to rural and developing countries has been reduced, which is expected to be one of the most important constraints that would hamper the growth of the 5G infrastructure market
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Highlights of the Report
1. The global 5G infrastructure market CAGR, as projected before the rise of the COVID-19 pandemic, was 68.3% in the forecast period, 2019—2027.
2. The global 5G infrastructure market CAGR, as projected post the rise of the COVID-19 pandemic, is anticipated to be 69.6% during the course of the forecast period, 2019—2027.
3. The global 5G infrastructure market sector size in 2019, as projected before the commencement of the COVID-19 pandemic, was USD 2,147.3 Million.
4. The current market size (2020), tolerating the impacts of the COVID-19 pandemic, is USD 1,993.9 Million.
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Present Picture of the Market due to COVID-19 Disaster:
It has been discovered that the majority of smartphones currently in use do not embrace 5G technology, which is expected to hamper the growth of the 5G infrastructure market in 2020. Owing to the lockdown, several smart device manufacturers have ceased production, affecting the 5G technology market in 2020. Furthermore, the pandemic is expected to have an effect on the industry due to the delay in the rollout of 5G spectrum. The majority of telecom regulators in different countries around the world have delayed the 5G spectrum and implementation plan in their respective countries, which has affected the 5G infrastructure market. For example, the Indian government has postponed the auction of 5G spectrum. These decisions made by telecom authorities during the pandemic are likely to hinder the market growth during the forecast period. Furthermore, instability in the supply chain of produced 5G technology products is expected to have an effect on the 5G technology industry during the analysis period.
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Future Scope of the Industry:
According to the report, the global 5G infrastructure market will witness significant growth in 2020 and is anticipated to follow the trend until the end of the analysis period. Presence of various channels which are assisting in developing the telecommunication sector within several regions across the world is anticipated to boost the growth of the market in the analysis period. The growing demand for higher bandwidth data at faster speeds among users is expected to drive the 5G technology market during the analysis period. The growing demand for 5G in media and entertainment centers is expected to significantly drive the market during the analysis timeframe.
Top Companies Leading the Market
2. Siklu Communication
3. Comba Telecom Systems
8. Nokia Networks
For instance, in April 2020, Hawkeye Systems, a technology holding company, announced that it has developed the future subsidiary radiant images used in an 8K live stream of the 2020 NFL Pro Bowl into projection domes through a 5G network, marking the first-ever 5G broadcast of a major sports event.
The report offers many strategies and ideas of the top industry players functioning in the industry such as the current strategic plans & developments, financial performance, SWOT analysis, and product/service range. Click Here to Get Absolute Top Companies Development Strategies Summary Report
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