5G System Integration Market Size To Grow With Stupendous CAGR of 23.8% By 2027, Owing To Rapidly Increasing Investment To Incorporate 5G Network Globally | Million Insights

February 15 07:10 2021
5G System Integration Market Size To Grow With Stupendous CAGR of 23.8% By 2027, Owing To Rapidly Increasing Investment To Incorporate 5G Network Globally | Million Insights

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According to new report available with Million Insights, the global 5G system integration industry report includes in-depth market analysis by recent technologies, market size, share, trends, opportunities, challenges, key players and business strategies considering types, segment and future analysis.

The global 5G system integration market size is projected to touch USD 31.41 billion by the end of 2027, as per the report released by Million Insights. The market is projected to register a CAGR of 23.8% over the forecast duration. The rapid rise in investment to incorporate 5G network in various nations such as Japan, U.S., and China, has surged the demand for embedding 5G network across enterprises. The process of integration will assist enterprises to work as a consolidated platform that helps in lowering the complexity of the system. Thus, rapid investments in creating 5G infrastructure and increasing demand for a 5G-driven eco-system are predicted to augment the product demand in the upcoming years.

Rapidly developing smart cities has increased the preference for several IoT devices worldwide. IoT devices use improved bandwidth to operate efficiently. Thus, to offer high-speed broadband by assisting 5G New Radio (NR), such as mmWave frequency bands and sub-6GHz, the complete infrastructure across the smart cities requires an upgrade to work on this latest technology. Therefore, it also anticipated that the rise in the market is driven by the development of smart cities over the forecast years. Further, with the growth of industry 4.0, the application of industrial sensors and collaborative robots are earning wide acceptance in the manufacturing segment worldwide. Therefore, to deliver a unified network to various devices, it is expected that 5G systems demand would increase to transform manufacturing facilities attuned with assisting 5G NR.

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A steady rise in digitalization has disrupted the functioning of the manufacturing segment. This has surged the trend for M2M communication to supplement overall productivity and efficiency along with streamlining the entire process. This has resulted in further expanding the requirement for high broadband to ship uninterrupted connectivity to robots and industrial sensors. Therefore, the rising requirement for high broadband services to incorporate unified communication between various machines is projected to boost the demand for 5G systems over the estimated period. Moreover, the growth of new technologies, such as Software-Defined Networking (SDN) and slicing is predicted to fuel market growth in the upcoming years. Additionally, to manage and deploy a 5G system, skilled professionals are required. This factor is expected to plummet the growth of the market in the coming years.

Further, COVID-19 outbreak is significantly affecting the market growth as several operations have been shut down across the world. Owing to this pandemic, network operators have postponed the deployment of 5G network infrastructure. However, major countries are planning to reopen their economy with new norms, which, in turn, is estimated to augment the 5G system integration market.

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Further key findings from the report suggest:

• North America market is projected to hold over 30% market shares in 2019. Factors such as increasing spending and deployment of the latest technologies are predicted to fuel market growth from 2020 to 2027.

• Manufacturing segment is expected to foresee considerable growth in the coming years, owing to increasing demand for 5G systems to offer unified communication between robots and sensors.

• Large enterprises are emphasizing on creating a 5G-driven ecosystem, owing to high competition. Thereby, it is projected to drive the product demand from 2020 to 2027.

• Key players are concentrating on making alliances and taking various strategic initiatives to strengthen their market presence and enhance their product offerings.

• Leading players of the market are ALTRAN; Accenture Inc.; Tata Consultancy Services Limited; Keysight Technologies; Huawei Technologies Co., Ltd.; Infosys Limited; Oracle Corporation; Radisys Corporation; Samsung Electronics Co., Ltd.; IBM Corporation; ECI TELECOM; HCL Technologies Limited; AMDOCS; CA Technologies; HPE; Cisco Systems, Inc.; Sigma Systems; Wipro Limited;and Ericsson.

Million Insights has segmented the global 5G system integration market on the basis of services, vertical, application, and region:

5G System Integration Services Outlook (Revenue, USD Million, 2019 – 2027)
    • Consulting
    • Infrastructure Integration
    • Application Integration

5G System Integration Vertical Outlook (Revenue, USD Million, 2019 – 2027)
    • Manufacturing
    • Energy & Utilities
    • Media & Entertainment
    • IT & Telecom
    • Transportation & Logistics
    • BFSI
    • Healthcare
    • Retail
    • Others

5G System Integration Application Outlook (Revenue, USD Million, 2019 – 2027)
    • Smart City
    • Collaborate Robot/ Cloud Robot
    • Industrial Sensors
    • Logistics & Inventory Monitoring
    • Wireless Industry Camera
    • Drone
    • Home and Office Broadband
    • Vehicle-to-everything (V2X)
    • Gaming and Mobile Media
    • Remote Patient & Diagnosis Management
    • Intelligent Power Distribution System
    • P2P Transfers/ mCommerce
    • Others

5G System Integration Regional Outlook (Revenue, USD Million, 2019 – 2027)
    • North America
        • U.S.
        • Canada
    • Europe
        • U.K.
        • Germany
        • France
        • Russia
        • Italy
    • Asia Pacific
        • China
        • India
        • Japan
        • South Korea
    • Latin America
        • Brazil
        • Mexico
    • Middle East & Africa (MEA)

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