The global next-generation wireless network market is expected to grow at a significant CAGR during the forecast period (2024-2031). Radio waves are used to send and receive data in wireless technology. Wireless technology is continually evolving, starting with 0G (such as radio-telephones) and progressing to 5G, the next-generation wireless technology. Owing to its high data transfer speed and stability, 4G LTE (4th Generation Long-Term Evolution) and WiMAX technologies are currently evolving and have a wide range of applications. The 5G wireless network, which will run on extremely high frequencies and have a large capacity and minimal latency will be the next generation of wireless networks.
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More services are emerging as IoT (Internet of Things) connection grows. Two services are available in the low-power wide-area network. Sigfox and LoRa technology is revolutionizing IoT connection by substantially reducing cost and energy consumption. Both technologies are designed for uplink-only broadcasts with a large number of endpoints. Another method, known as RPMA (Random Phase Multiple Access), has been developed, with outstanding upload and download capacity and coverage. GPS, cellular phones, home entertainment system control boxes, satellite television, wireless LAN, and many other applications use wireless technology. High speed, cost-effective pricing, and an increase in applications and consumption are pushing the market growth.
In addition, the internet of things (IoT) is propelling the market at a rapid pace. Apart from offering more coverage and secure access than existing networks, the next-generation wireless network also provides better coverage and security. The growing number of wireless applications, such as self-driving cars, drones, home appliances, and industrial equipment, is having a substantial impact on the demand for next-generation wireless networks. Some of the problems restricting the growth of the global next-generation wireless networks market include interoperability with existing technology, compatibility issues with older devices, and costly initial investment.
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Market Coverage
- Segment Covered-
o By Type
o By End-User
- Competitive Landscape: Qualcomm Technologies, Inc., IBM Corp., and Cisco Systems, Inc., 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 Wireless Network Market Report Segmentation
By Type
- Fixed Wireless
- Mobile Wireless
- Portable Wireless
- IR Wireless
By End-User
- Telecom & IT
- Healthcare
- BFSI
- Automotive
- Others
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