Next Generation Communication Technologies Market will grow steadily at a CAGR of 26.63% to reach size of $313.57 million by 2023.
Based on geography, America was the largest market for next generation communication technologies, with a share of 39% in 2017. Now, the American market holds a share of 37% for the forecast year. However, Asia-Pacific will emerge out to be the market leader in 2023. The next generation advanced communication technologies market for Europe is expected to grow at a CAGR of 28.3% from $13.37 billion in 2017 to reach $60.08 billion in 2023. In European regions, latest technologies into the healthcare system will be one of the major factors towards the growth of the market. In Asia-Pacific next generation communication technologies market, the technical developments, such as 4G technology, is increasing consumers spending’s, and expanding investments in communication infrastructure has led to important growth. The APAC market is anticipated to grow at a CAGR of 32.6% to reach a size of $70.72 billion by 2023 from $13.01 billion from 2017. The maximum number of growth is expected to be in the regions of China and India.
Selected Wireless Communication done in the full Report:
The market by Technology Communication segment includes, Wireless Sensor Network (WNS), Bluetooth, LTE, Wimax, Wi-Fi and Zigbee. The study states among all, the Wireless Sensor Network will be the fastest growing segment in the forecast period. The WNS segment will strongly witness a CAGR of 64.75% to reach $219.07 million by 2023 from $12 million in 2017. Smart buildings and smart cities are playing an important role in smart homes, and has increased the focus on connected technologies which has resulted in the growth of WSN segment. LTE is another segment which has been leading since 2015. The market size for LTE segment in 2017 was $36.90 million. The LTE market is expected to grow a CAGR of 21.06% to reach $79.26 million in 2023. The market always remained dominant, since the WSN is the fastest growing segment, and it might dominate the market in the coming years. The next generation communication technologies market is projected to see the fastest growth in military and security and surveillance end use industries. Telecom industry held the major share in the global market and is projected to hold its dominance till 2023.
Excerpts on Market Growth Factors
The upcoming 5G technologies are expected to play a significant role in 5G networks, which will have a significant role in the Internet of Things (IoT) in the near future.
The communication governing boards across the globe are taking initiatives to improve the present communication networks which would help to drive the market to adopt new and effective wireless communication technologies.
Surge in security systems opportunities for IoT hardware/software products have made continuous growth in innovative and disruptive WSN products which is one of the major drivers of this market.
Increasing use of wireless devices in imaging distribution drive the need for network upgrades to offer more robust and secure network infrastructure. Applications like remote patient monitoring using mobile devices play an important role in healthcare delivery.
Key players of the Next Generation Communication Technologies Market
The Next Generation Communication Technologies are well occupied by the players as follows: Qualcomm Inc., ZTE Corporation, Samsung Electronics, Huawei tech Co. Ltd., Ericsson Telefon ABLM and others. Huawei offers products and services like Mobile and fixed broadband networks, consultancy and managed services, multimedia technology, smart phones, tablets, computers, dongles. ZTE Corporation is known to provide telecommunication service providers and enterprises, Mobile phones, smartphones, and table computers. Ericsson leads in serving Mobile Broadband, cloud systems, Support Systems, Radio Systems, Television and Media Management. The on-going developments are the reason which will have continuous amount of patents to be launch in the coming years.
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