5g Technology Market Size, Industry Analysis Report, Competitive Market Share & Forecast by 2023: Global Market Insights, Inc.

5G Technology Market Size is projected to experience significant growth prospects from 2016 to 2023. Surging adoption of internet enabled devices across the globe is likely to drive industry growth over the forecast period.

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Persistently rising high speed and large network coverage demands from numerous industry applications such as distant learning, autonomous driving, multi-user gaming and video conferencing, opera live streaming, telemedicine, and augmented reality is anticipated to fuel 5G technology market growth. Furthermore, it is likely to enhance mobile network performance capabilities and is projected to have high contribution in establishing foundational infrastructure for smart city development.

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This technology offers very high bandwidth for mobiles and advanced features for various smart devices. In addition, it is considered to be extremely endurable for WWWW (Wireless World Wide Web). It is likely to support millimetre wave, M2M/IoT (Internet of Things), multiple-input and multiple-output (MIMO) application as well as device-centric network architectures, along with spectrum sharing functionalities.

Surging adoption of mobile broadband as well as growing machine-to-machine communication in organizations is expected to fuel the global 5G technology market size over the forecast period. Superior data transfer rates accompanied by less power consumption when compared to its predecessors is projected to positively impact demand from 2016 to 2023.

This technology offers internet speed between 10 Gbps and 100 Gbps and provides ultra low latency range from 1ms to 10ms when compared to 4G technology that offers low latency range from 40ms to 60ms. This enables users to live stream and watch sports matches and events over the...