(MENAFN- America News Hour) Market Synopsis
The North America 5G Market is estimated to record a significant growth throughout the forecast period. The ICT sector constitutes 4.8% of the European economy. Europe's organization ERDF i.e. European Regional Development Fund has allotted approximately USD 23 billion for investments related to ICT during the funding period 2014-2020. ICT refers to the communication technologies including the internet, wireless networks, social networking, cell phones, video-conferencing, computers, software, and other media applications and services enabling users to access, retrieve, and manipulate information in a digital form.
The fifth generation of mobile technology (5G technology) is expected to cater to the demand and provide the business frameworks needed by and beyond 2020. In addition to driving a connected society, 5G wireless technology will bring about socio-economic transformations through productivity, sustainability and well-being. Mobile 5G seems to be the next big thing in the global digital connectivity ecosystem. T he North America 5G market is anticipated to expand at an overall compound annual growth rate (CAGR) of 77 % and will be worth of 127.96 Bn by 2025.
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Revenue growth in North America has been stronger than any of the other developed markets. This trend has been driven primarily by higher usage of both voice and messaging services, as well as, more recent growing consumer engagement, resulting in higher levels of data usage.
The North America 5G market is classified into SIM cellular connections and SIM M2M cellular connections. This is further divided into data per user, and 5G data traffic for each categories. In North America, SIM cellular connections hold 90% of the market share, whereas SIM M2M cellular connections are anticipated to exhibit triple-digit growth rate. For SIM cellular connections, 5G data usage per month per user is expected to be around 32GB which we have expected to be saturated till 2021. On the other hand, SIM M2M cellular connections will reach around 5.3GB by 2019 and is expected to grow at an increasing rate.
Based on region, the North America 5G market is classified into the U.S. 5G market and the Canada 5G market. The U.S. is expected to hold a significant market share because it is one of the first countries to launch commercial 5G services. The advent of 5G is expected to cause wide transformation in the U.S. technology, media, and telecom industries.
Key growth factors:
The major growth factors of the North America 5G market are broadened range of applications and services
Rapid population penetration: By 2020, it is expected that there will be more than 300 million mobile subscribers in North America, which will be 84% of North America's population
Threats and key players:
A major challenge that the North America 5G market will face is stiff price competition
The key players in this market are AT & T, Verizon, Comcast, Bell mobility, and Rogers Wireless
What's covered in the report?
1. Overview of the North America 5G market
2. The forecasted market size data for the North America 5G market
3. The forecasted market size for the segments of SIM cellular connections and SIM 2M cellular connections, and each segment's data usage (GB/month) and data traffic (EB/year)
4. The forecasted market size of the 5G market based on applications: Internet of Things, Robotics & Automation, Virtual Reality, and Others
5. Market trends in the North America 5G market
6. Market drivers and challenges in the North America 5G market
7. Current and forecasted market size data of the 5G market based on countries – U.S and Canada
8. Analysis of company profiles of the major players operating in the market
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1. Get a broad understanding of the North America 5G market and its segments based on countries and applications
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