The global small cell 5G network market size is estimated to reach USD 28,476.4 million by 2027, registering a CAGR of 77.6% from 2020 to 2027, according to a new study by Grand View Research.
The market attained a volume of 215 thousand units in 2019. Significant growth in the global mobile network traffic due to the massive adoption of smartphones across the globe has raised the rapid demand for high-speed data bandwidth among consumers. To deliver uninterrupted enhanced internet connectivity to consumers, Communication Service Providers (CSP) must opt for network densification and low-cost network solutions, said the market research firm. This, in turn, is estimated to fuel the deployment of small cell 5G networks globally over the forecast period.
Significantly growing demand for high bandwidth capacity across a wide range of use cases such as accessing Ultra-high Definition (UHD) videos, cloud-based AR/VR gaming, and continual HD video meetings are expected to drive adoption of small-cell 5G network during the forecast period. Besides, to cater to the robust demand for improving data coverage and capacity in several crowded public places such as stadiums, airports, and malls, the deployment of small cell 5G networks is expected to see considerable growth over the forecast period. Moreover, the rising trends for telemedicine, remote patient monitoring, and remote surgeries across key countries such as the U.S., China, the U.K., and Japan, have surged the demand for faster data bandwidth in a bid to deliver unified connectivity in such critical applications. Also, the massive investments by federal governments in deploying advanced technologies across healthcare facilities is further anticipated to boost the installation of small cell 5G network globally.
Asia Pacific captured the largest market share of more than 30% in 2019 and is estimated to grow at a CAGR of 72.8% from 2020 to 2027. The growth is attributed to the rapid investments in deploying 5G infrastructure by major telecom operators across key countries such as China, Japan, and South Korea.
