Fortune Business Insights in a new report suggests that the global market will rise at a whopping CAGR of 76.29% during the forecast period, 2018-2026.
There is a skyrocketing demand for high speed internet among end-use industries. 5G infrastructure plays a crucial role while deploying high speed internet service. The analysts in the report predict that the global market is anticipated to reach US$ 50,640.4 Mn by 2026, as against US$720.6 Mn in 2018.
Rising demand for mobile bandwidth among consumers worldwide is augmenting demand for 5G infrastructure network. With the growing trend of smart city, demand for IoT connectivity sensor devices is increasing. This, in turn, is contributing to the development of 5G infrastructure. Some of the emerging applications such as self-driving cars and augmented reality (AR) also support the development of 5G infrastructure. All these factors are expected to drive the market in the forecast years.
The burgeoning demand for smartphones, laptops, and computers and other connected devices is creating demand for advanced network alternatives.
Under Industry 4.0, IoT devices, vehicles, equipment, and machinery are connected to each other. This requires high speed internet coverage and network solution. The current 4G network cannot fulfil all the requirements of advanced technologies that require high-speed internet network. Here, 5G infrastructure comes into existence as radio access technology can overcome the challenges faced by 4G technology. Furthermore, distributed antenna systems of 5G infrastructure offer several advanced services. Spurred by these factors, the global 5G infrastructure market is expected to grow at a rapid rate in the forecast period.
Lead Analyst, Fortune Business Insights
5G technology is expected to positively influence connected agriculture, smart cities, machine-to-machine communication, and home automation. Moreover, some of the prominent challenges faced by organizations with regards to improving reliability, performance, and connectivity can be resolved through 5G infrastructure.
