BANGALORE, India, Aug. 26, 2020 /PRNewswire/ — Major factors that are driving the Small Cell 5G Network Market size are increased network densification, increased mobile data traffic, and the introduction of the Citizens Broadband Radio Service (CBRS) band. Furthermore, the increased spending in 5G networks by many countries also boosts the market growth.
The small cell 5G network market size was valued at USD 344 Million in 2018 and is projected to reach USD 6,876 Million by 2026, growing at a CAGR of 45.3% from 2019 to 2026.
COVID IMPACT ON MAJOR REGIONS
In North America, the COVID-19 outbreak is expected to heavily impact the US small cell 5G network market due to its dependence on China as a major supplier of chips and equipment to the telecommunications industry. Furthermore, the blacklisting of Huawei Technologies has led to high tensions between the two countries, which will further affect market growth.
In APAC, China has retained its dominant position as a global 5G pioneer, despite being the epicenter of COVID-19. The number of COVID-19 cases slowing down in China, the country is relaxing restrictions, and manufacturing firms are resuming their manufacturing facilities. Coronavirus outbreak is expected to result in increasing industrial automation implementation across processes and separate manufacturing, eCommerce, and the logistics and transport sectors.
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TRENDS INFLUENCING THE SMALL CELL 5G NETWORK MARKET SIZE
Many of the biggest countries, such as the US and China, are projected to invest heavily in health care. Furthermore, the COVID-19 pandemic has encouraged many key countries to develop more robust healthcare capabilities by investing in advanced technologies such as 5G networks. Thus, the demand to deliver constant data connectivity in telemedicine and remote patient surgeries is expected to drive the growth of small cell 5G network market size.
The CBRS (Citizens Broadband Radio Service) band is the main component that drives the demand for the small cell 5G network market. Using CBRS indoor spectrum band frees up precious licensed spectrum that would otherwise need to be reserved for indoor use. CBRS small cell allows multi-operator support and provides cost-effective mobile coverage solutions for third party neutral network providers and large businesses. CBRS’s small cell network simplifies network integration activities and offers a better user experience.
The growing adoption of 5G technology drives the small cell 5g market size. Small cells blend well with the 5 G transition as they have improved storage efficiency and support mobile providers in reducing operating costs by minimizing costly roof structures and upgrades or leasing costs. The small cell 5G network also helps improve mobile phones’ efficiency, as it transmits at a lower frequency, which essentially decreases the capacity of cell phones and improves their battery life.
The advent of the Internet of Things (IoT) and preference for ultra-reliable low-latency communications are expected to provide lucrative market expansion opportunities.
Small cell backhaul issues and small cell implementation problems are likely to impede the development of the small cell 5 G network industry.
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SMALL CELL 5G NETWORK MARKET SHARE ANALYSIS
North America held the largest small cell 5G network market share in 2018 and is expected to remain dominant during the forecast period as well. This region’s dominance is attributed to the rise in strategic trails to launch 5G technologies and equipment in this region.
Asia-Pacific is expected to grow at the fastest pace during the forecast period. This is attributed to a steady rise in mobile usage. Further, the increase in demand for higher bandwidth applications creates the need for 5G technology, thereby increasing the small cell 5G network market size.
SMALL CELL 5G NETWORK MARKET KEY SEGMENTS
BY RADIO TECHNOLOGY
BY FREQUENCY BAND
- Millimeter Wave
BY CELL TYPE
- Indoor Applications
- Outdoor Applications
KEY MARKET PLAYERS
- Airspan Networks Inc.
- Cisco Systems, Inc.
- Fujitsu Limited
- Huawei Technologies
- NEC Corporation
- Nokia Corporation
- Samsung Electronics Co., Ltd.
- ZTE Corporation
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