The global 5G network infrastructure, which is the software and hardware resources that facilitate 5G connections, operations, communication and management of enterprise networks, is expected to have a CAGR of 70 percent during 2016-2023, according to report by Research and Markets.
The net market revenue is projected to reach up to $28 billion. 5G technology can add up to approximately 34 percent in the telecommunications sector by 2026, as stated by Ericsson. The deployment of 5G technology provides several advantages such as high-speed data transmission, more efficiency than 3G and 4G, and large bandwidth shaping. It will have applications across telecommunication, IT, education, retail etc. .
Countries currently working towards the advancement of 5G technology are United States, South Korea, Japan and China. The global 5G network infrastructure market is significantly influenced by the presence of major companies deploying 5G technology such as Samsung, Ericsson, Nokia, Qualcomm, Intel Corporation and others.
North America is expected to be the leading market for 5G network infrastructure technology, because of the growth of smart phone use in the United States. In 2016, 77 percent of Americans used smartphones
The United States is a strong player of the R&D of 5G, as well, with carriers such as T-Mobile have plans for establishing 5G network infrastructure here. Also, the U.S.- based market players such Verizon Communication and AT&T have successfully done 5G trials to ensure the deployment of 5G technology by 2023.
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