Cellular networks Market Insights:
The global cellular network market is expected to exhibit a robust 40% CAGR over the forecast period from 2018 to 2023, according to a new release from Market Research Future (MRFR). The global cellular network market is likely to be driven mainly by the growing demand for cellular connectivity in developing regions around the world. In addition, the development of 5G software and technology is likely to provide the global cellular networks market some direction, with many countries looking to implement wide-scale 5G services to improve their local connectivity and data exchange. This is likely to be the major driving factor for the global cellular networks market over the forecast period, according to the report. The report analyses these and other key drivers and restraints affecting the global cellular networks market, apart from providing a clear view into the present dynamics of the global market and the economic and competitive factors dominating the market’s movement.
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The global cellular networks market has grown steadily in line with the growing adoption of mobile internet services around the world. Especially in developing regions, the cellular networks market has grown at a rapid growth rate in recent years, as customers have become more aware of the benefits of cellular internet connectivity and the services have become more easily available, as both international and local cellular service providers have made great efforts to break into uncharted markets and make the most of the lucrative opportunity.
The development of 5G wireless communication technology is likely to be the dominant theme of the global cellular networks market over the forecast period. 5G communications technology has become one of the most widely researched topics in the communication sector thanks to the incremental advantages it provides over 4G and other wireless communication technologies. The high potential of 5G communication technology to revolutionize government and industrial sector operations and speed up communication and data exchange has led to steady funding for the development of 5G technology. This is likely to remain a major driver for the global cellular networks market over the forecast period.
Cellular networks Market – Competitive Analysis:
Leading players in the global cellular networks market include AT&T Inc., Alcatel Lucent, NTT Docomo, Singapore Telecommunications Ltd., China Mobile Ltd., Reliance Communications Ltd., Bharti Airtel Ltd., and Verizon Communications.
Cellular networks Market – Industry Updates:
At CES 2019, Samsung exhibited 5G-oriented products that are developed to support the widespread use of 5G technology in the near future.
Cellular networks Market – Segmentation:
The global cellular networks market is segmented on the basis of technology, frequency, application, type of connection, and region.
The global cellular networks market is segmented on the basis of technology into 2G and 3G, 4G, and 5G. 4G technology currently dominates the global cellular networks market due to its widespread adoption in the developing as well as the developed world. The 5G technology segment is still in its infancy, as foundational research and development has yet to take place, but is likely to exhibit a strong growth rate over the forecast period.
By frequency, the global cellular networks market is segmented into EDGE, UMTS, and LTE.
By application, the global cellular networks market is segmented into mobile devices, USB/power dongles, and modems and routers.
By type of connection, the market is segmented into prepaid and postpaid.
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Cellular networks Market – Regional Analysis:
The global cellular networks market is likely to be dominated by Asia Pacific over the forecast period due to the increasing adoption of cell phones in the region’s emerging economies. The increasing efforts from mobile phone manufacturers to cater to the low-price-high-volume market in emerging regions such as India, China, Indonesia, Malaysia, Thailand, Korea, and Vietnam have led to the availability of a large variety of mobile phones at affordable prices, leading to growing overall mobile phone ownership. This has been a major driver for the cellular networks market in the region and is likely to remain the key driver over the forecast period, as the cell phones market in Asia Pacific is showing no signs of slowing down and is likely to grow further over the coming years as local manufacturers also try to make the most of the market opportunities.
North America and Europe are also likely to play a leading role in the global cellular networks market over the forecast period due to the strong presence of research efforts aimed at the development of 5G technology. North America and Europe are matured markets for cellular network providers, which has led to the establishment of strong research channels for the development of progressive mobile communication technology, which is likely to drive the cellular networks market in the region over the forecast period.
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