Next-Gen Communication Protocols Market Growing At A CAGR Of 20.9% - 2032

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Next-Gen Communication Protocols Market

Expansion of 5G networks and the development of Internet of Things (IoT) devices

WILMINGTON, NEW CASTLE, DE, UNITED STATES, January 31, 2025 /EINPresswire / -- The global Next-Gen Communication Protocols Market was valued at $45.8 billion in 2023, and is projected to reach $259.3 billion by 2032, growing at a CAGR of 20.9% from 2024 to 2032. Increase in demand for high-speed and reliable communication networks to support emerging technologies and growth in adoption of cloud-based services and the need for secure and efficient data transmission are the factors expected to propel the growth of the global next-gen communication protocols market. However, high initial investment costs for implementing new communication protocols and infrastructure upgrades are anticipated to hamper the growth of the global market.

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By end user, the telecom segment accounted for the largest share in 2023, owing to the widespread use of communication technologies in everyday life. Telecom companies provide services such as phone calls, messaging, and internet access to a large number of consumers, which is further expected to propel the overall market growth. However, the military and security & surveillance segment is expected to attain the largest CAGR from 2024 to 2032 and is projected to maintain its lead position during the forecast period, owing to rapid growth due to increasing concerns about national security and the need for advanced communication technologies in these sectors. Governments and organizations are investing in cutting-edge communication systems to enhance security measures and surveillance capabilities, thereby driving the growth of this segment in the global next-gen communication protocols market.

By technology, the wireless communication technologies segment held the highest market share in 2023, owing to increase in demand for mobile devices and the convenience of wireless connectivity. People rely on smartphones, tablets, and other wireless devices for communication and internet access, which is further expected to propel the overall market growth.

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However, the wired communication technologies segment is expected to attain the largest CAGR from 2024 to 2032 and is projected to maintain its lead position during the forecast period, owing to the need for reliable and high-speed internet connections in homes and businesses. Wired connections can offer more stability and faster speeds compared to wireless options, making them a preferred choice for certain applications, which is driving the growth of this segment in the global next-gen communication protocols market.

The key players profiled in this report include

NTT DoCoMo, SK Telecom, Huawei Technologies Co., Ltd., ZTE Corp., Qualcomm, Nokia, Samsung, Verizon, Ericsson, AT&T Inc.

The report provides a detailed analysis of these key players in the next-gen communication protocols market . These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different countries. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.

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Regional Analysis:

By region, North America held the highest market share in terms of revenue in 2023, owing to the presence of major tech companies, strong infrastructure, and high adoption rates of advanced communication technologies in countries such as the U.S. and Canada, anticipated to propel the growth of the market in this region. However, Asia-Pacific is projected to attain the highest CAGR from 2024 to 2032, owing to rapid technological advancements, increase in internet penetration, and a growth in population of tech-savvy consumers in countries such as China, India, and Japan. The region's expanding economy and focus on digital transformation drive the demand for next-gen communication technologies, is further expected to contribute to the growth of the market in this region.

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