The global next-generation wireless communication market is predicted to grow at a healthy CAGR between 2019- 2027, states the recent Market Research Future (MRFR) analysis. Next-generation wireless communication, simply put, is an advanced module of the latest communication. The wireless communication offers a choice of eliminating the traditional deployment system that needs multiple systems and wires. The next-generation wireless communication can work wonders in exchanging data at an immensely high speed, thereby cutting down the data exchange time. Owing to its alluring features and excellent benefits, the next-generation wireless communication has wide applications in Wi-Fi and Bluetooth, 4G LTE, WiMAX, 5G, 3G, wireless LAN, digital TV broadcasting, and others.
Various factors are propelling the global next-generation communication market share. As per the current MRFR report, such factors include rising technological advances like big data, internet of things, and e-commerce, growing demand for advanced communication technology, rapid growth in wireless communication and mobile markets, rising consumer demand, & constant introduction of new services and products.
The COVID-19 outbreak has resulted in different countries shutting down businesses except for the essential service and imposing lockdowns. Other businesses are directed in practicing work from home that has resulted in mixed demands for the next-generation wireless communication such as Bluetooth, Wi-Fi, 5G, 4G LTE, WiMAX, digital TV broadcasting, wireless LAN, among others.
On the contrary, high development & infrastructure cost, coupled with the ongoing COVID-19 impact are factors that may impede the global next-generation wireless communication market growth over the forecast period.
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The MRFR report offers an inclusive segmental analysis of the global next-generation wireless communication market based on technology and application.
Based on application, the global next-generation wireless communication market is segmented into healthcare, aerospace and defence, automotive, retail, consumer electronics, telecommunication, and industrial.
Based on technology, the global next-generation wireless communication market is segmented into Wi-Fi and Bluetooth, 4G LTE, WiMAX, 5G, 3G, wireless LAN, digital TV broadcasting, and others.
Based on the region, the global next-generation wireless communication market report covers the growth opportunities and recent trends across the Asia Pacific (APAC), North America, Europe, & the Rest of the World (RoW). Among these, North America will have the lions share in the market over the forecast period. High technological advances, infrastructural investments in communication technologies in Canada & the US, technological development, the presence of global players, the high availability of bandwidth, wide network coverage, and growth in IoT are adding to the global next-generation wireless communication market growth in the region.
The global next-generation wireless communication market in Europe is predicted to have the second-largest share over the forecast period.
The global next-generation wireless communication market in the APAC region is predicted to grow at a fast pace over the forecast period. The presence of many developing countries namely China, Japan, and India, coupled with the continuous development of Asian countries, are adding to the global next-generation wireless communication market growth in the region.
The global next-generation wireless communication market in the RoW is predicted to have sound growth over the forecast period.
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Eminent players profiled in the global next-generation wireless communication market report include Ericsson (U.S.), ZTE Corporation (China), Intel Corporation (U.S.), Netgear Inc. (U.S.), NEC (Japan), Cisco Systems (U.S.), IBM Corporation (U.S.), AT&T (U.S.), Huawei (China), and Qualcomm (U.S.), among others. Industry players have encompassed different strategies to remain at the forefront and also cater to the consumers surging needs. Such strategies comprise yet are not restricted to acquisitions, mergers, new product launches & new product development, strategic alliances, contracts, geographic expansions, extensive research and development activities, partnerships, joint ventures, collaborations, and many others.
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