Increasing Number of Smart Device Users Boosts 5G Technology Market

San Francisco, California, March 26, 2018: A recent report by TMR Research, titled, “5G Technology Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 – 2025”, projects this market to portray an outstanding growth on the basis of a booming smartphone industry.

The widespread proliferation of improved telecom services, especially to fulfil the need portrayed by millions of smart device customers to utilize fast network from around the globe is a chief driver of the global 5G technology market. With each year, many important apps need fast networks to function. This has been putting a strain on countries to develop faster networks than the currently existing 4G network. Investments made by numerous companies for expansion of 5G networks also has been primarily driving the market.

From a geographical perspective, the global market for 5G services is segmented into Latin America, Asia Pacific, the Middle East and Africa, Europe, and North America. Owing to a high adoption rate, high disposable income, and widespread proliferation of smart devices that require fast connections in North America, this region has shown maximum lucrativeness in terms of revenue gained. Extensive research and technological innovations in leading countries such as U.S. and Canada are expected to make this region depict a good performance in future.

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When it comes to the vendor landscape, the competition is highly fierce as several renowned and highly experienced companies are operating in the global 5G technology market. Most companies are focusing on research and development. Pursuing the goal of mergers and acquisitions with other telecom, radio, and other sectors as well as fellow competitors is another key strategy utilized by most market players to expand their reach. BMW Group Research and Technology, Orange S.A., Ericsson, Nokia Siemens Networks, Deutsche Telekom AG, Qualcomm Inc., Telecom Italia, and BMW Group Research and Technology are some of the key players operating in the global 5G technology market.

Author: Rohit Bhisey

As Head of Marketing at TMR Research, Rohit brings to the table over a decade of experience in market research and Internet marketing. His dedication, perseverance, and passion for perfection have enabled him to achieve immense success in his field. Rohit is an expert at formulating new business plans and strategies to help boost web traffic. His interests lie in writing news articles on technology,healthcare and business.

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