The introduction of 5G is expected to drive significant new opportunities for smartphone manufacturers, thanks to rising interest among consumers and application developers alike. 5G technology will enable ultra-high speeds, and enable various new applications with the help of internet of things. The growing adoption of connectivity, digital applications, and wearable technology is also expected to drive growth for players in the 5G devices market. Moreover, up gradation of existing supporting infrastructure including modems, towers, and other supporting infrastructure will present major opportunities for new players. The growth of 5G devices market is expected to drive significant opportunities as adoption of 5G technology has received positive signals around the world.
US, Apple, Huawei, and Intel – A Tale of Competition
Recently, US banned Huawei from operations in the US. The Chinese giant known for its advanced 5G equipment is also banned from cooperating with US companies. On the other hand, Apple also acquired the 5G division of Intel. Apple with its big pockets can benefit incredibly from the growth of 5G technology. It can also act as a competitor to Huawei in providing option to European markets. While countries like Germany has sent positive signals in acquiring 5G technology from Huawei, the adoption has not materialised yet. the good news for Huawei is several US companies have applied for a license to work with Huawei. Among major companies that have expressed a desire to work with Huawei, Google is also present. This makes way for a possible adoption of Huawei technology across the US as well. The end to the trade conflicts, the on-going development of 5G technology, and growing demand in various sectors for 5G technology is expected to drive significant opportunities for players in the 5G devices market. sectors like Telecom, Automobile, banking, and technologies like 3D printing, virtual reality are expected to drive growth.
5G Devices Market - Introduction
- 5G technology is the next generation wireless connectivity solution that delivers faster and most secured wireless network to users. 5G technology will change the way users communicate, connect, compute, and control their connected devices, network, and services.
- Smart device manufacturing companies are integrating 5G technology into mobiles, tablets, and other communication devices to increase performance through quality communication services and fast Internet services.
- 5G devices manufacturing companies offer services such as fast document sharing, super secure hotspot, and controlled & secure connectivity to enhance customer experience
- 5G technology is expected to be adopted by the commercial sector to increase the communication speed, better connectivity with employees, and connectivity with centralized system with Internet
- Smartphone manufacturing companies are expected to adopt this advanced technology as next generation communication solution
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Key Drivers of Global 5G Devices Market
- Increase in adoption of mobiles and tablets in residential and commercial sectors and rise in demand for network capacity to access connected devices are projected to fuel the growth of the market. 5G devices manufacturers’ offers technologically advanced communication devices to provide strong network connectivity for commercial and personal application which is expected to increase the demand for 5G devices in the market during forecast period.
- Increase in use of smart devices with advanced connectivity solutions is expected to create opportunities for 5G devices manufacturers as well as 5G network providers.
- The key players are expected to provide more advanced communication and network access solutions in 5G devices to maintain dominance and market position during the forecast period.
Increase in Operational Expenses to Hamper Market Growth
- Rise in usage of advanced technological solutions indirectly increases the operational expenses of enterprises which is expected to hamper the growth of the global 5G devices market. Industries such as pharmaceutical, IT, and retail are adopting 5G devices to increase the quality of operation. Companies are investing in 5G devices and network equipment to provide advanced communication infrastructure which increases their operational expenses.
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North America to Capture Major Share of Global 5G Devices Market
- North America is projected to account for significant share of the global 5G devices market due to the presence of key players in the region. Increase in demand for advanced communication devices to increase the efficiency of employees is anticipated to drive demand for 5G devices in North America.
- The 5G devices market in Asia Pacific and Europe is expected to expand at high CAGR during the forecast period. This is attributed to increase in adoption of smart devices in order to enhance the performance of industrial operations. Moreover, surge in the number of IoT products and cloud solutions which require high connectivity is expected to boost the 5G devices market in the two regions.
Key Players Operating in Global 5G Devices Market:
Samsung Group is a global leader in enterprise information and mobility solutions. The company provides enterprise products and services which help customers in digital businesses. It offers solutions in mobile devices, TV & AV, home appliances, and computing solutions to the commercial and residential sectors. Samsung Group provides 5G enabled smartphones with advanced security system and communication technology.
Keysight Technologies is a leading company that provides electronic measurement & test equipment and supporting software. The company offers solutions for 5G, cloud, connected car, data center infrastructure, energy ecosystem, IoT, network security, and network visibility. It offers products and services to aerospace, automotive, communication, education, and services providers.
Other players in the global 5G devices market include Telefonaktiebolaget LM Ericsson, Qualcomm Incorporated, ZTE Corporation, Huawei Technologies Co., Ltd., AT&T, Inc., and Verizon Communications.
Global 5G Devices Market: Research Scope
Global 5G Devices Market, by Device Type
- Networking Equipment
Global 5G Devices Market, by End-use
Global 5G Devices Market Segmentation, by Region
- North America
- Rest of North America
- Nordic Countries
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
- South America
- Rest of South America
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.