The next generation wireless communication global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Next Generation Wireless Communication Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size -
The next
generation wireless communication market size has grown exponentially in
recent years. It will grow from $31.35 billion in 2023 to $37.70
billion in 2024 at a compound annual growth rate (CAGR) of 20.3%. The
growth in the historic period can be attributed to increasing demand for
high-speed connectivity, evolution of mobile devices, growing internet
penetration, spectrum efficiency improvements, demand for seamless
connectivity.
The next generation wireless communication market size is expected to see rapid growth in the next few years. It will grow to $76.21 billion in 2028 at a compound annual growth rate (CAGR) of 19.2%. The growth in the forecast period can be attributed to proliferation of IoT (internet of things) devices, rising demand for ultra-reliable low-latency communication (URLLC), deployment of 5G networks, increasing need for massive machine type communication (mMTC), growth of edge computing. Major trends in the forecast period include exponential growth in connected devices, enhanced security measures, development of new business models, acceleration of remote work and virtual collaboration, evolution towards autonomous and connected vehicles.
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Scope Of Next Generation Wireless Communication Market
The Business Research Company's reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market's historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Next Generation Wireless Communication Market Overview
Market Drivers -
The
growing demand for faster communication technology is expected to
propel the growth of the next generation wireless communication market
going forward. Faster communication technology refers to advanced
systems and solutions that significantly reduce latency, increase data
transfer rates, and enhance overall speed in transmitting information
across various networks and devices. The growing demand for faster
communication technology is primarily driven by the need for seamless
connectivity, rapid data transmission, and support for
bandwidth-intensive applications. The next generation of wireless
communication provides higher data speeds, lower latency, and increased
network capacity, meeting the evolving needs of users and enabling the
seamless adoption of bandwidth-intensive applications and services. For
instance, in June 2023, according to 5G Americas, a US-based wireless
industry trade association, global 5G connections reached 1.2 billion in
the first half of 2023 and are anticipated to grow to 1.9 billion by
the end of the same year, with a projected further increase to 6.8
billion by the end of 2027, while North American 5G connections,
currently at 36% population penetration, are expected to reach 601
million by the end of 2027, averaging roughly 100 million additions per
year. Therefore, the growing demand for faster communication technology
is driving the growth of the next generation wireless communication
market.
Market Trends -
Major companies operating in the
objectives and key results (OKR) software market are focused on
developing innovative OKR management software, such as OKR Board for
Jira, to enable alignment toward goals. OKR Board for Jira is an OKR
management software program that helps firms develop, track, and achieve
their goals using the OKR framework. For instance, in October 2023,
Oboard Ltd., a Germany-based provider of OKR software for businesses and
organizations, launched the OKR Board for Jira software, a simple
application that allows enterprises to set, manage, and report on OKRs
directly from Atlassian's project tracking platform, Jira. The OKR Board
for Jira is commended for its user-friendly arrangement and ease of
utilization. Users can use the OKR framework directly in Jira,
eliminating the requirement for extra apps or components outside the
Atlassian ecosystem. The tool includes enterprise-level capabilities
such as dedicated account managers, onboarding help, custom security
reviews, roles and permissions, and a public API (application
programming interface).
The next generation wireless communication market covered in this report is segmented –
1) By Device: Smartphones, Tablets, Laptops, Wearables
2) By Services: Voice, Data, Multimedia
3) By Technology: 5G, Wi-Fi 6, Li-Fi, Zigbee, Bluetooth 5.0, LTE-A, WiMAX 2.1
4)
By Application: Consumer Electronics, Telecommunication, Aerospace And
Defense, Retail, Automotive, Healthcare, Other Applications
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Regional Insights -
North
America was the largest region in the next generation wireless
communication market in 2023. Asia-Pacific is expected to be the
fastest-growing region in the forecast period. The regions covered in
the next generation wireless communication market report are
Asia-Pacific, Western Europe, Eastern Europe, North America, South
America, Middle East and Africa.
Key Companies -
Major
companies operating in the next generation wireless communication market
are Apple Inc., Alphabet Inc. (Google), Samsung Electronics Co. Ltd.,
Microsoft Corporation, China Mobile Limited, Verizon Communications
Inc., AT&T Inc., Deutsche Telekom AG, Facebook Inc., Reliance
Industries Limited, Huawei Technologies Co. Ltd., T-Mobile International
AG, Sony Corporation, LG Electronics Inc., Intel Corporation, Panasonic
Corporation, IBM Corporation, Vodafone Group plc, Cisco Systems Inc.,
Qualcomm Technologies, Telefónica S.A., Xiaomi Corporation, Broadcom
Corporation, BT Group plc, Ericsson AB, Nokia Corporation, NEC
Corporation, MediaTek Inc., ZTE Corporation, Bharti Airtel, Telenor ASA
Table of Contents
1. Executive Summary
2. Next Generation Wireless Communication Market Report Structure
3. Next Generation Wireless Communication Market Trends And Strategies
4. Next Generation Wireless Communication Market – Macro Economic Scenario
5. Next Generation Wireless Communication Market Size And Growth
…..
27. Next Generation Wireless Communication Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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