The global next-generation wireless network market is projected to amass a revenue of about US$ 56,782.0 million by 2032, up from US$ 28,578.0 million in 2022 moving forward with a CAGR of 7.1% during the forecast period (2022–2032).
Radio waves are used in wireless technology to send and receive data. It is utilized to transmit data. Wireless technology is currently undergoing continual development, moving from 0G (such as radio telephony) through 5G, the next generation of wireless technology.
The upcoming 5G wireless network will use extremely high frequencies, have a huge capacity, and very little latency.
More services are emerging as a result of the expanding IoT (Internet of Things) connectivity. Two services, Sigfox and LoRa technology, are revolutionizing IoT communication in the low power wide area network to substantially reduce cost and energy usage.
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Another technology RPMA (Random Phase Multiple Access) is developed which has excellent upload and download capacity and coverage.
Wireless Technology is used in various applications like GPS, cellular phones, Home entertainment system control boxes, satellite television, wireless LAN, and many others.
Next Generation Wireless Network Market: Drivers and Restraints
The factors driving the market of next-generation wireless networks are high speed, low prices, and increasing applications and usage.
Also, internet of things is driving the growth of the market massively. These next-generation wireless network also provides more coverage and secured access than existing networks.
The increasing applications of wireless technology like self-driving cars, drones, household appliances and industrial machines are significantly influencing the market growth of next generation wireless network.
The significant challenges faced in the next generation wireless network market are the trade between the flexibility of use and the platforms.
Interoperability with existing technology, compatibility issues with old devices, and high initial investment are some of the challenges hampering the growth of next generation wireless network.
Leading Key Players:
- Qualcomm Technologies, Inc.
- IBM Corporation
- Cisco Systems, Inc.
- AT&T Inc.
- Idea cellular
- Nokia Corporation
- Semtech Corporation
- Sigfox technology
- Verizon Digital Media Services
- T-Mobile International AG
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Regional Overview
By geography, the market of next generation wireless network is largest in North America since many large companies like Qualcomm Technologies, Cisco Systems, Inc., AT&T Inc., are investing in next generation wireless network due to the high availability of bandwidth, the growth of IoT in the region and wide network coverage.
Asia Pacific region is also expected to grow since many companies in this region are investing in their next generation wireless network research and development.
Next Generation Wireless Network Market Segmentation:
By Type:
- Fixed wireless
- Mobile wireless
- Portable wireless
- IR wireless
By End Use:
- Telecommunications
- Healthcare
- Banking
- IT services
- Automotive
- Security systems
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific
- Japan
- The Middle East and Africa
Author By:
Sudip Saha is the managing director and co-founder at Future Market Insights, an award-winning market research and consulting firm. Sudip is committed to shaping the market research industry with credible solutions and constantly makes a buzz in the media with his thought leadership. His vast experience in market research and project management across verticals in APAC, EMEA, and the Americas reflects his growth-oriented approach to clients.
He is a strong believer and proponent of innovation-based solutions, emphasizing customized solutions to meet one client’s requirements at a time. His foresightedness and visionary approach recently got him recognized as the ‘Global Icon in Business Consulting’ at the ET Inspiring Leaders Awards 2022.
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