Global 5G Module market expected to generate a revenue of $468,271.9 million by 2028

According to the Research Dive, the global 5G module market is expected to garner a revenue of $468,271.9 million by 2028, growing exponentially at a CAGR of 70.8% during the forecast period 2021-2028.

Dynamics of the 5G module market
The growing prevalence of IoT (internet of things) connected devices and their integration with 5G services for enhanced speed and efficiency is expected to drive the growth of the 5G module market during the forecast period. In addition, the growing demand for IoT use cases in numerous end-use industries to drive automation is further expected to create ample opportunities for the growth of the market during the forecast period. However, the high cost of investment in 5G is expected to impede the growth of the 5G module market during the forecast period.

COVID-19 Impact on the 5G module market
The outbreak of COVID-19 has had an unfavorable impact on the growth of the global 5G module market, owing to the occurrence of lockdowns in numerous countries across the globe. Lockdowns adversely halted all the ongoing 5G infrastructure projects during the pandemic. Persistent initiatives were taken by the telecommunication providers on 5G trials, but they were soon halted during the lockdowns. In addition, the ongoing activities on the creation of 5G foundation were also halted apart from postponing the spectrum auctions. Thus, coronavirus has had a negative impact on the market.

Segments of the 5G module market

• By applications, the internet of vehicles sub-segment is expected to be have the fastest growth rate, and hence grow rapidly at a CAGR of 71.8% during the forecast period. Growing demand for security, tracking, and sharing of crucial information, especially accidents, to the emergency contacts is expected to bolster the growth of the 5G module market sub-segment during the forecast period.
• By end-users, the transportation & logistics sub-segment is expected to be most profitable, and generate a revenue of $138,765.8 million during the forecast period. Impeccable use of 5G connectivity enables the incorporation of comprehensive electronic traffic signaling systems for attaining enhanced traffic flow management. This factor is expected to stimulate the growth of the sub-segment during the forecast period.
• By region, the Asia-Pacific region is expected to have the fastest growth rate, and generate a revenue of $106,719.2 million during the forecast period. The extensive prevalence of blockchain, edge computing, and 5G core technologies along with the expansive mobile subscriber base in this region is expected to drive the growth of the market during the forecast period. In addition, the huge presence of illustrious network providers in this region is further expected to accelerate the growth of the regional 5G module market during the forecast period.

CT Bureau