The global next-generation communication technologies market is expected to grow at a significant CAGR during the forecast period (2024-2031). The advancement and evolution of communication technologies to higher network speeds are referred to as next-generation communication technologies. Next-generation communication technology also refers to converged infrastructure that can provide a wider range of services, such as data, video, and voice, at a faster rate than traditional communication technologies. Technological advancements such as the Internet of Things (IoT), e-commerce, and big data are driving the demand for next-generation communication technologies which results in an increased demand for advanced communication technology. In addition, the demand for mobile and wireless communication technologies is quickly expanding, which is boosting the market growth.
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The Internet of Things (IoT) and Industrial 4.0 and increased technical and automation investments are driving the need for more efficient networks. Technologies that fulfill these needs, such as asset monitoring, security, and transportation, are supporting the demand for next-generation communication technologies, such as 5G, Li-Fi, and wireless sensors networks (WSN). For instance, visible light communication (VLC)/Li-Fi technology allows data transmission at high rates by light rather than radio waves by adjusting the intensity of the light. Therefore, this results in a high-speed Internet connection that’s more secure, stable, and capable of delivering capacity far beyond what traditional wireless communications such as Wi-Fi offers. As a result, they offer enormous potential in applications such as the military, where security and reliability are critical.
However, the Li-Fi sector is still in its infancy, with only a few publicly traded corporations investing in the technology and a growing number of startups entering the market. According to Cisco, a 5G connection will create 2.6 times more traffic than the average 4G connection by 2022. The increased data demand will be met by the efficient network quality required by the introduction of 5G. Companies are developing innovative techniques for 5G deployments in response to rising network demand. They can lower the cost of tiny cells and make them more appealing to mobile network operators (MNOs) and vertical organizations. Furthermore, network functions virtualization (NFV) and software-defined networking (SDN) are simplified and virtualized network choices that provide the foundation for expanded capabilities through function centralization.
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Market Coverage
- Segment Covered-
o By Technology
o By End-User
- Competitive Landscape: SolarWinds Worldwide, LLC, Cisco Systems, Inc., Microsoft Corp. among others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominates the market in base year?
- Which segment and region will project fastest growth in the market?
- How COVID-19 impacted the market?
o Recovery Timeline
o Deviation from pre-COVID forecast
o Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Next-Generation Communication Technologies Market – Segmentation
By Technology
- Wired Communication Technology
- Twisted Wire Communications
- Optical Fiber Communications
- Wireless Communication Technology
- LiMAX
- 4G LTE
- Wi-Fi
- Zigbee
- 5G
- WiMax
- Bluetooth
- Others
By End-User
- Industrial
- Telecom
- Military and Defense
- Automotive
- Consumer Electronics
- Healthcare
- Others
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