Much like customers, partners also require guidance on the key technologies and markets to pursue. Read the Channel Roadmap to build a blueprint for future success.
- 14 January 2021 01:44
Global 5G in Defense Market to Display 57.50% CAGR Through 2027
Global 5G in Defense Market is valued approximately USD 40.53 million in 2019 and is anticipated to grow with a healthy growth rate of more than 57.50 % over the forecast period 2020-2027. The 5G technology offers advanced communications and networking along with improved data rates, potential energy savings and lower latency over 4G.
Request a sample Report of 5G in Defense Market at: https://www.marketstudyreport.com/request-a-sample/3110278/?utm_source=IDG.com/&utm_medium=SP
The integration of 5G in the defense sector offers these benefits at lower costs providing fast communication between defense equipment such as tanks, fighter jets and others driving the market growth. Thus, the rapid investments in the military owing to swelling expenditure drives the market growth. As per the Stockholm International Peace research institute (SPIRI) United States increased their defense spending by 5.3% reaching a total of USD 732 billion in 2019 as compared to their spending in 2018. Accounting for 38% of the global defense spending. Also, increasing government focus towards modernization of the defense systems augments the market growth. As in October 2020, the Department of Defense, US, announced to award of USD 600 million in contracts to 15 prime contractors to perform testing and evaluation of 5G technologies at 5 military bases across the US. This modernization has resulted in increased procurement of autonomous and connected devices and vehicles in the military which necessitate the use of 5G for efficient operations. However, lack of standards and protocols for use of 5G impedes the growth of the market over the forecast period of 2020-2027. Although, growth in IoT and ML presents a lucrative opportunity for the market.
Major market player included in this report are:
- Nokia Networks
- Thales Group
- L3Harris Technologies Inc
- Raytheon Technologies
- Ligado Networks
- Wind River Systems, Inc.
The regional analysis of global 5G in Defense market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the early adoption of technology and well established infrastructure. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027. Factors such as rapidly increasing penetration of IoT would create lucrative growth prospects for the 5G in Defense market across Asia-Pacific region.
By Communication Infrastructure:
Radio Access Network (RAN)
By Core network technology:
Software-Defined Networking (SDN)
Fog Computing (FC)
Mobile Edge Computing (MEC)
Network Functions Virtualization (NFV)
By End user:
For More Details on 5G in Defense Market Report at: https://www.marketstudyreport.com/reports/global-5g-in-defense-market-size-research?utm_source=IDG.com/&utm_medium=SP
Market Study Report, LLC. is a hub for market intelligence products and services.
We streamline the purchase of your market research reports and services through a single integrated platform by bringing all the major publishers and their services at one place.
Our customers partner with Market Study Report, LLC. to ease their search and evaluation of market intelligence products and services and in turn focus on their company’s core activities.
If you are looking for research reports on global or regional markets, competitive information, emerging markets and trends or just looking to stay on top of the curve then Market Study Report, LLC. is the platform that can help you in achieving any of these objectives.
Market Study Report LLC.
4 North Main Street,
Selbyville, Delaware 19975
US Toll Free: 1-866-764-2150