- 5G is an advanced wireless networking technology. To meet the demands of 5G-based low-latency applications, Radio Access Network (RAN) infrastructure along with multi-access cloud services. 5G-based transport networking infrastructure easily connects various network elements along with various service through multiple cloud locations.
- 5G-based transport networks help in various applications including enhanced Mobile Broadband (eMBB), massive Machine-Type Communications (mMTC), and ultra-reliable Low-latency Communications (URLLC), to achieve deterministic and low latency targets.
Impact of Coronavirus (COVID-19) on the 5G Transport Networks Market
Lockdowns across major regions (Europe, Asia, and North America) due to an increase in the spread of Coronavirus (COVID-19) negatively impacts the 5G transport networks market. Shutdown or delay of projects due to social distancing and closure of offices is expected to result in a significant dip in the deployment of 5G networks during the years 2020 and 2021, which is expected to restrain the 5G transport networks market.
Increasing Demand for 5G Network to Drive the Global 5G Transport Networks Market
- 5G technology is now in a testing phase and expected to be launched in some markets after 2019. The evolution of 5G creates significant opportunities for telecom providers as well as other sub markets that is likely to emerge. A number of different standards and industry bodies are active in the process of developing 5G standards.
- 5G offers extensive opportunities for technologies such as Big Data, and data analytics to grow during the forecast period. Similarly, industries such as automotive, healthcare, transportation, and mining that majorly use networking solutions, are expected to enhance their productivity and performance with the adoption of 5G networking.
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- In addition, the 5G market is anticipated to enhance the proximity services (ProSe) market i.e. device-to-device communication, which is considered an important new 5G feature. ProSe provides many potential benefits, such as lowering the latency in real-time circumstances, improving communications to devices that are difficult to connect to the base station, vehicle-to-vehicle messaging, IoT traffic reduction, and helping emergency communications and locally-targeted messaging.
- The impact of this driver is expected to be high during the forecast period. Adoption of 5G transport networks is increasing across the globe, owing to increasing demand for 5G network. This is expected to boost the global 5G transport networks market in the next few years.
Cost Issues of 5G infrastructure Expected to Hamper the 5G Transport Networks Market
- Cost is one of the most significant concerns in 5G-based infrastructure deployment. The deployment of 5G-based infrastructure generally entails huge investment in hardware and other related services that is difficult for small & mid-sized equipment vendors.
- The impact of this restraint is currently moderate but is projected to reduce with the introduction of security solutions being taken up by equipment providers to offer more secure hardware. Security challenges can be reduced to some extent with the use of mobile clouds, SDN, and Network Function Virtualization (NFV).
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North America to Account for Major Share of the Global 5G Transport Networks Market
- In terms of region, the global 5G transport networks market can be segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa
- North America is anticipated to account for major share of the global 5G transport networks market during the forecast period due to increase in investments for 5G. Europe is expected to follow North America in terms of share of the global 5G transport networks market from 2020 to 2030.