Investment in 5G Technology Fuels the Growth of Telecommunication Market

Posted on: Oct-2017 | By: QY Research | IT & Telecommunications

The worldwide telecommunications market is constantly changing on account of the continuing developments and innovations taking place constantly and at a rapid pace. The 5G trials and its exploitation in the market will be a major focus in the coming years. As everyday life seems to be gradually becoming dependent on usage of the telecom services and products, the worldwide telecommunication market is expected to grow at an extraordinary rate in the near future.

Services offered by the foremost players in the market comprise offering storage area networks, storage products, entry level servers, storage networking services, 3G services, enterprise networking services, broadband networks, calling cards, and application networking services.

There is a range of factors propelling the market growth, including intense market competition, the advanced technology, and high expenditure in new telecommunication technologies such as satellite & wireless communication. Few other factors contributing to the market growth consist of the affordability of services, requirement for high-speed internet, and inventive services such as e-education & e-agriculture.

Apart from the above-mentioned factors, the mounting popularity of IoT (Internet of Things) has also considerably contributed to the growth of the market. Smart devices such as tablets, smartphones, smart meters, smart monitoring devices smart watches, smart buildings, and sensors are being progressively deployed around the world. The smart cities projects globally are one illustration where smart devices such as smart meters and sensors are utilized.

The rising recognition of IoT has facilitated machine-to-machine communication, thereby connecting numerous smart devices such as refrigerators, air conditioners, food processors, music systems, and the similar devices. All this has encouraged the demand in the market for telecommunication. Also, factors such as amplified satellite coverage, cloud computing, and the development of 3G and 4G cellular networks have also considerably contributed to the growth of the market.

On the contrary, the high price of value-added services and strict government regulations can function as a barricade to the growth of the market. Also, maintaining safety measures will also present a challenge. Nevertheless, the escalating use of intelligent transportation systems is expected to stimulate the need for these services, canceling out the negative effects of these limitations.