5G New Radio Market to be Worth $251.37 Billion by 2030: Grand View Research, Inc.

Read full market research report, "5G New Radio Market Size, Share & Trends Analysis Report By Offering, By Operating Frequency, By Architecture, By Application, By Industry, By Region, And Segment Forecasts, 2023 - 2030", published by Grand View Research.

5G New Radio Market Growth & Trends

The rising usage of massive Multiple-Input Multiple-Output (MIMO) technology which involves the use of a large number of antennas at both the transmitter and receiver ends, which can significantly increase the data throughput and improve network capacity is a significant factor contributing to the growth of the market. Additionally, there is a growing focus on the development of compact and lightweight radio units that can be easily deployed in a variety of settings, including urban and rural areas. This is particularly important for enabling the deployment of 5G networks in areas where traditional infrastructure is not readily available.

Increasing demand for the high speed mobile internet among consumers is also contributing to the market growth. As the need for high-speed mobile internet grows, 5G New Radio (NR) technology will become increasingly vital in meeting these expectations. 5G New Radio technology, with higher data transfer rates and lower latency, can provide a better user experience for mobile internet consumers. The growing popularity of Virtual Reality/Augmented Reality (VR/AR) applications is driving the demand for 5G New Radio technology, as these applications require high-speed data transfer rates and low latency to provide a seamless user experience. With its ability to support Enhanced Mobile Broadband (eMBB), 5G New Radio can enable high-quality VR/AR applications on mobile devices.

The outbreak of the COVID-19 pandemic had a moderate impact on the market. The pandemic had disrupted the supply chains and caused delays in the deployment of 5G networks in some regions. However, as the market started recovering, the pandemic has accelerated the demand for 5G NR solutions, as more people have been working remotely, and there has been an increased need for connectivity and high-speed data transfer. This has led to a rise in demand for 5G-enabled devices, such as smartphones, tablets, and laptops, and has also increased the need for network infrastructure to support the increased data traffic. Such factors are anticipated to create more demand for the market over the coming years.

5G New Radio Market Report Scope       

5G New Radio Market Segmentation

Grand View Research has segmented the global 5G New Radio Market based on offering, operating frequency, architecture, application, industry, and region.

5G New Radio (NR) Market - Offering Outlook (Revenue, USD Billion, 2019 - 2030)

5G New Radio (NR) Market - Operating Frequency Outlook (Revenue, USD Billion, 2019 - 2030)

5G New Radio (NR) Market - Architecture Outlook (Revenue, USD Billion, 2019 - 2030)

5G New Radio (NR) Market - Application Outlook (Revenue, USD Billion, 2019 - 2030)

5G New Radio (NR) Market - Industry Outlook (Revenue, USD Billion, 2019 - 2030)

5G New Radio (NR) Market - Regional Outlook (Revenue, USD Billion, 2019 - 2030)

List of Key Players in the 5G New Radio (NR) Market

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About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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