Semiconductors & Electronics Industry 5G Technology Market Insights, 2024 | Page 2

Hexa Research

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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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