The global next-generation communication devices market size is anticipated to expand at a significant CAGR during the forecast period, 2021-2028. The growth of the market is attributed to increasing technological and automation investments.
Next-generation communication technologies refer to the improvement and development of communication technology to high network speed. They are providing lot of services such as data and video and voice solutions at higher speed as compared to the normal communication technologies.
High speed communication technology is important in any organization or industry and even for personal usage. They are used in different applications such as automotive & automation, aerospace and defense, smart grid, healthcare, consumer electronics, and telecommunication industries.
The COVID-19 pandemic positively impacted on the next generation communication technologies due to online education and the trends of work from home that led to a mixed requirement for next generation wireless communication which includes Bluetooth, WI-Fi, 5G, 4G LTE, 3G, WiMAX, digital TV broadcasting, and wireless LAN.
Next-generation Communication Devices Market Trends, Drivers, Restraints and Opportunities
- Rising rapid penetration of mobile Internet is projected to drive the market growth during the forecast period.
- Growing connected cars and evolving smart home market is expected to boost the market growth in the coming years.
- Increasing demand for high data performance and easy access to high-quality videos is projected to drive the market growth during the forecast period.
- Rising public-private partnerships for next-generation network developments is anticipated to drive the market.
- Growing demand for faster connectivity planning is expected to spur the market growth.
- Increasing demand for high-speed data transfer and high responsive network is projected to drive the market growth during the forecast period.
- Rising number of smartphone users is expected to boost the market growth in the coming years.
- High cost of infrastructure and development is estimated to restrict the market growth.
- Lack of communication standards coupled with improved power consumption which sparks different environmental issues are major factors restraining the market growth in the coming years.
- Rapid globalization has enhanced interaction levels and next-generation communications, which is anticipated to create significant opportunities for the market players.
Scope of Next-generation Communication Devices Market Report
The report on the global next-generation communication devices market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Next-generation Communication Devices Market- Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2020
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Historic Data
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2018–2019
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Forecast Period
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2021–2028
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Segmentation
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Technologies (5G, Visible Light Communications /Li-Fi, Wireless Sensor Networks (WSN), and Others) and End-users (Manufacturing, Military & Defense, Automotive, and Others)
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Regions
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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Cisco Systems Inc.; Huawai Technologies Co. Ltd.; Netgear Inc.; Telefonaktiebolaget Lm Ericsson; and Koninklijke Philips NV
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Next-generation Communication Devices Market Segment Insights
Technologies Segment Analysis
Based on technologies, the market is divided into 5G, visible light communications / Li-Fi, wireless sensor networks (WSN), and others.
The 5G segment is anticipated to hold a key share of the market in the coming years due its ability to handle huge mobile data traffic volume and large number of connected devices, along with long network lifetime, with improved quality of services, such as high-transmission rate with low delay.
However, the wireless sensor networks (WSN) segment is anticipated to expand at a rapid pace during the forecast period owing to flexibility and scalability.
End-Users Segment Analysis
On the basis of end-users, the market is divided into manufacturing, military & defense, automotive, and others. The military & defense segment is expected to represent a major share of the market in the coming years, as it used to communicate among war fighters and security reasons during drills or in theater.
On the other hand, the automotive segment is anticipated to expand at a rapid pace during the forecast period owing to advanced safety features to reduce the chances of an accident.
Regional Segment Analysis
In terms of regions, the market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is expected to constitute a key share of the market during the projected period due to increase demand for advanced technologies, such as machine-to-machine communication, connected cars, and AI.
However, the market in Asia Pacific is anticipated to expand at a rapid pace during the forecast period. Emerging countries such as India and China play an integral role in advanced technologies such as the Internet of Things (IoT) and machine-to-machine communication (M2M), and other sectors such as smart cities, as well as in industrial automation.
Segments
The global next-generation communication devices market has been segmented on the basis of
Technologies
- 5G
- Visible Light Communications / Li-Fi
- Wireless Sensor Networks (WSN)
- Others
End-users
- Manufacturing
- Military & Defense
- Automotive
- Others
Regions
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
Competitive Landscape
Key players competing in the next-generation communication devices market includes Cisco Systems Inc.; Huawai Technologies Co. Ltd.; Netgear Inc.; Telefonaktiebolaget Lm Ericsson; and Koninklijke Philips NV.
Some of these players are engaging in business strategies such as mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to enhance their market share.
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