3 Key Trends Expanding Global 5G Infrastructure Market Size
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Loading... - Ursala Ahidjo
- 02 Sep 2022
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Global 5G infrastructure market share has shown tremendous growth in recent years, thanks to the robust demand for high-speed network connectivity. The ownership rate of smartphones is growing at a notable pace every year across both developed and developing economies.
According to the GSMA Mobile Economy 2022 report, in 2021, the number of mobile internet users globally reached 4.2 billion. The report further states that by 2025, 5G will reach at least a quarter of the total mobile connections. This scenario indicates the rapid installation of 5G infrastructure across the world.
The Global 5G infrastructure market value will surpass USD 60 billion by 2028. Following are the top trends that will foster the demand for 5G components:
1. E-Commerce Will Boost 5G Infrastructure Deployment
The advent of e-commerce platforms has completely transformed how people buy and sell products. 5G technologies can play a significant role in enhancing the efficiency and performance of this sector.
5G networks can help brands improve the shopping experience of their customers by using cutting-edge technologies like AR and VR to assist shoppers in finding the right product for their needs. Indian startup Lenskart, for example, was one of the first eyewear companies to introduce 3D try-ons to help customers find the right pair of glasses from the comfort of their homes.
To make high data-consuming technologies work smoothly on portable devices, the demand for 5G infrastructure will rise considerably.
2. 5G Technologies Will Support Expansion of Automotive Sector
The global automotive sector is growing substantially because of the increasing number of on-road vehicles. This growth will be strengthened by the rising adoption of innovative technologies in autonomous and semi-autonomous vehicles. While the idea of self-driving cars is still an evolving one, customers are lining up to get their hands on such innovative products.
With the help of 5G connectivity, cars can communicate with their components to help drivers better navigate through heavy traffic or detect blind spots while parking. Tesla, for instance, has installed eight cameras and 12 ultrasonic sensors in each of its self-driving cars. Read More...
