5G, a fifth generation wireless data communication technology, is undergoing rapid evolutions and is anticipated to reach a stage of commercialization in the near future. The speed of 5G technologies are anticipated to exceed 3G and 4G counterparts with substantial margins, and is also expected to eat into the major market shares of 2G and 3G technologies in the years ahead.

5G technology developers are looking to integrate WIFI and LTE segments with innovative mechanisms to meet the high standards and requirements of emerging technologies of augmented reality and machine learning among others.

Increased use of tools such as portable internet and inter machine connectivity are key factors that are driving the imminent growth of 5G technology infrastructure to achieve applications such as multi-player gaming, autonomous transport, remote schooling, and internet based healthcare among other end uses. Some of the other major trends that are influencing the global 5G technology market include:

  1. Governments and private players are intensely collaborating to set up the requisite infrastructure for 5G technologies in separate regional markets. 5G technology is expected to have a particularly strong reception in countries such as China, India, the United States, and the United Kingdom among others.
  2. Rising focus on internet-based software and apps for mobile devices are increasing the importance of internet connectivity, which is expected to open up widespread opportunities for 5G service providers around the globe. In addition, advanced technologies including state-of-the-art semiconductor and sensor technology are expected to assist in the proliferation of 5G, boosting connectivity on a global scale.
  3. Emerging technologies such as industrial internet of things, autonomous vehicles, and machine learning require faster access to data transmission speeds to react to real time situations effectively, boosting the requirement for 5G technology.
  4. Currently, the market for 5G tech is largely being led by major European countries including the UK, Germany, and France. This can be attributed to the high levels of research activities being carried out by market players in the region, which is anticipated to give these countries access to 5G services, before other regions around the globe.

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