(MENAFN- iCrowdNewsWire)5G system integration market witnessed for USD 7412 million in 2020, growing at a robust CAGR of 25.5% during forecast period. GMI Research thoroughly analyzes the market trends, dynamics, and restrain and encounters that the 5G system integration market will undergo in an accumulation in demand during the forecast period owing to the high adoption of advanced technologies like IoT, IIoT, Machine learning, and Artificial Intelligence.
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Introduction of the 5G System Integration Market Report
5G System Integration combines physical and virtual components of an enterprise with modern applications or upgraded systems to work over the new 5G network. The 5G system integration offers coherent connectivity, and ultra-high internet speed has been used by many industries, including IT, manufacturing, retail, telecommunication, and energy.
Key Players of the Market
- Verizon Communication Inc.
- AT&T Inc.
- BT Group Plc
- Vodafone Group Plc
- Qualcomm Technologies, Inc.
- Oracle Corporation
- International Business Machines Corporation
- Cognizant Technology Solutions Corporation
- Amdocs Limited
- Wipro Limited
5G System Integration Market Dynamic
The significant drivers contributing to the growth of the global 5G system integration market size is the rising demand for high-speed bandwidth ability, industrial digitization, and the growing deployment of upgraded network infrastructure among organizations. Furthermore, the increasing acceptance of advanced technologies, including the Industrial Internet of Things (IIoT), Internet of Things (IoT), Machine Learning (ML), Artificial Intelligence (AI), robotics, cloud computing, big data, social media, and wireless communication among business enterprises is further bolstering 5G system integration market size during the forecast period. Moreover, as per the global 5G system integration market forecast and according to the GSM Association, 5G connections is projected to reach 1.1 billion, some 12% of total mobile connections, by 2025 and the overall operator revenues to rise at a CAGR of 2.5% to reach $1.3 trillion in 2025. These factors act as stimulants to boost the market growth.
Restraint in the 5G System Integration Market
On the other hand, rapid growth in the database over the cloud, the growing privacy and security concerns related to crucial enterprise data and rising cyber-attacks incidents and data breaches in businesses among enterprises are anticipated to restrain the market growth during the forecast period.
Service – Segment Analysis
According to the 5G system Integration market research , the infrastructure integration segment speculates a significant share in the 5G system integration market . It is due to the surging demand for the integration of legacy network infrastructure with the next-generation network infrastructure to approach high bandwidth capacity with low latency and reduce the overall response time for increasing operational efficiency. Various companies like Verizon Communication Inc., AT&T Inc., BT Group Plc, Vodafone Group Plc, and others are offering 5G infrastructure integration services, which is expected to contribute to the market growth.
Application – Segment Analysis
The home and office broadband segment is projected to hold a notable market share during the forecast period because of the surging adoption of IoT devices across metropolitan cities and rising demand for enhanced Mobile Broadband (eMBB) connectivity among enterprises and customers. Furthermore, as per the World Bank, in 2018, approximately 51% of the global population used the internet via a personal digital assistant, mobile phone, digital TV, computer, and games machine. It is again speculated to surge the market growth.
Industry Vertical – Segment Analysis
Based on the industry vertical, the retail segment envisages growing at a substantial rate during the forecast period mainly due to the increasing adoption of automation, IoT, and big data analytics in the retail sector and high acceptance for flawless connectivity for several applications such as consecutive business network to tackle peak-time traffic, high personalization, real-time product tracking, AR/VR shopping experiences, access to central systems, etc. In addition, according to the United Nations Conference on Trade and Development, in 2018, e-commerce sales reached $25.6 trillion worldwide, with an increase of 8% from the previous year. It is further expected to complement market growth.
Regional – Segment Analysis:
Based on region, Asia-Pacific is forecasted to rise at a fast CAGR during the forecast period. It can be attributed to the boom in the acceptance of digital technologies, such as AI, robots, cloud computing, and IoT in retail, manufacturing, telecommunication, and IT industries. Moreover, as per the 5G system integration market report and to the India Brand Equity Foundation (IBEF), the online penetration of retail is estimated to reach 10.7% by 2024 compared with 4.7% in 2019, and the e-commerce business in India is anticipated to reach $99 billion by 2024, rising at a CAGR of 27% over 2019. It is forecasted to fuel the high-speed network demand, thus supporting the growth of the 5G system integration market in Asia-Pacific.
5G System Integration Segmentation
Segmentation By Service
- Consulting
- Infrastructure Integration
- Application Integration
Segmentation By Application
- Collaborate Robot
- Industrial Sensors
- Logistics & Inventory Monitoring
- Wireless Industry Camera
- Home and Office Broadband
- Gaming and Mobile Media
- Remote Patient & Diagnosis Management
- Intelligent Power Distribution Systems
- P2P Transfers /mCommerce
- Others
Segmentation By Vertical
- Manufacturing
- Energy & Utilities
- Media & Entertainment
- IT & Telecom
- BFSI
- Healthcare
- Retail
- Others
Segmentation By Region
- North America
- United States of America
- Canada
Europe
- The United Kingdom
- Germany
- France
- Spain
- Rest of Europe
Asia Pacific
- China
- India
- Japan
- Rest of APAC
Rest of World
- Brazil
- South Africa
- Saudi Arabia
- UAE
- Rest of world
Introduction of GMI Research
GMI Research is an emerging leader of marketing intelligence that gives a thorough analysis of profiles of the market players. We offer research-related solutions for businesses and enable our clients to make beneficial investment decisions and increase revenue. We give extensive research-based reports and other consulting services based on insight facts to reassure our clients to gain success by invading the competitors.
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