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Furthermore, increasing mobile broadband adoption and machine-to-machine communication in companies will fuel industry growth. High rates of data transfer along with low power consumption will also exhibit a positive impact.
Popularity of high-speed internet for enhanced real-time response will propel the global 5G technology industry in the years to come. However, the dependence of this technology on other technologies, such as millimeter wave propagation and IPv6 transmission protocol could restrict market performance.
The global industry is categorized on the basis of technologies, applications, and regions. The technology segment comprises Radio Access Technologies( RAT), Wi-Fi, High-Speed Package Access( HSPA), Global System for Mobile( GSM), and Worldwide Interoperability for Microwave Access( WiMAX). Applications include healthcare, government & utilities, retail, individual users, offices, and defense & military. Owing to high investments in research & development, the application segment is led by government & utilities.
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Geographically, the global 5G technology market is divided into Europe, North America, Asia Pacific, and Rest of the World. The U. S. market is estimated to grow robustly during the forecast period. This is because of increasing subscriptions in the region. The Asia- Pacific market too will register significant growth. Various countries such as China, Korea, and India will invest huge sums to support ongoing developments and initiatives in 5G technology. The government of United Kingdom is expected to launch its 5G strategy by 2017. In its recent budget, the government focused on the significance of mobile spectrum and prepared the nation to receive the new technology.
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