Authored By: Sarah
29 Aug 2023

5G Technology Market to become a Billion-Dollar sector with revenue of USD 440.19 Bn | APAC to Dominate Market Growth through 2023-2027

The Global 5G Technology Market is a billion-dollar market in making with a phenomenal revenue growth of USD  440.19 Bn progressing at a CAGR of  93.25% from 2023 to 2027. Increasing R&D and deployment of the 5G network, government initiatives for high-speed network connectivity, and lastly the growing adoption of smartphones and demand for better connectivity are some of the major growth contributors of this 5G industry. Get to know all the details through Technavio's report which captures the growth trajectory of the market and is traced through a detailed analysis of the prevalent market forces, trends, and drivers along with competitive benchmarking. 

APAC to dominate the market growth of the 5G Technology Market: When it comes to the fastest-growing region APAC is estimated to contribute 49% to the growth of the global market during the forecast period owing to the growing number of mobile subscribers in the region followed by the launching of 5G-enabled smartphones in markets especially in countries like India. 

The rise in disposable income has been instrumental in the sales of smartphones in the region, which has led to a rise in the number of mobile subscribers with Internet access. 

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Fastest growing geography of the 5G Technology Market at a Glance

Core companies of the 5G Technology Market

Some of the prominent names comprise Accenture Plc, Cisco Systems Inc., CommScope Holding Co. Inc., Dell Technologies Inc., Deutsche Telekom AG, Fujitsu Ltd., Huawei Technologies Co. Ltd., Intel Corp., Nokia Corp., Siemens AG, Samsung Electronics Co. Ltd., T Mobile US Inc., Tech Mahindra Ltd., Telefonaktiebolaget LM Ericsson, Telstra Ltd., Tietoevry, etc.

Organizations like HCL Technologies Ltd. offer 5G technology, such as a 5G network for the retail and automotive industry. Our report includes qualitative and quantitative analyses of core companies with a wider understanding of the business ecosystem. Download  our sample report on the 5G Technology Market

Technavio's research report provides insights into the top market players and their product portfolio along with a pipeline analysis of upcoming developments and growth opportunities. The growth of the players depends on several factors market players must distinguish their product and service offerings through a clear and unique value proposition.

5G Technology Market: Key Highlights of the Report for 2023-2027

  • CAGR of the market during the forecast period 2023-2027
  • Detailed information on factors that will drive 5G Technology Market growth during the next five years
  • Precise estimation of the 5G Technology Market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the 5g technology industry across APAC, Europe, MEA, North America, and South America
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of 5G Technology Market vendors
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