India 5G Market
India 5G Market to Witness Accelerated Growth at High CAGR of 71.5% during 2022–2030
Published | 21 October 2022
India 5G market is expected to witness exhilarating growth due to a highly lucrative combination of favorable demographics, massive adoption of high-speed network, and exponential growth in data usage in the country.
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, expects India 5G Market size to expand at a robust CAGR of 71.5% during the forecast period between 2022 and 2030. The world is becoming more interconnected. Demand for effective network infrastructure is growing as smartphones, wearables, homes, smart cities, internet of things (IoT), artificial intelligence (AI), and augmented reality (AR) become more widely adopted. During the forecast period, technology advancements and expanding infrastructures are expected to hasten the exponential growth of India 5G market. Rising demand for no-buffer live video streaming, increased social media usage, and other similar services are significantly boosting the expansion of India 5G market. However, the excessive cost of upgrading legacy infrastructure to 5G infrastructure as well as privacy and security concerns could limit the growth of India 5G market. On the other hand, government initiatives to strengthen communication infrastructure is expected to provide a plethora of growth opportunities for India 5G market participants.
India 5G Market – Overview
The next-generation wireless access technology, known as 5G, can connect billions of devices and promises higher data capacities and speeds of more than 10 gigabytes (GB) per second. Mobile networks today must accommodate a wider range of requirements than ever before in the "Everything on Mobile" era. Globally, 5G is expected to redefine various industry verticals, including transportation, healthcare, and logistics. In contrast to 3G and 4G, which improved data transfer speeds for smartphones, 5G will enable communication between an infinite number of connected devices. The key feature includes a throughput speed of up to 10 GB per second, a dramatic reduction in latency to less than 1 millisecond (ms) from the current 50 ms, and an exponential rise in the number of connections. Higher throughput translates to faster consumer network speeds. Applications that would not have been possible with slower response times will now be made possible. For instance, due to their remoteness, a sizable portion of the population in India is outside the typical reach of specialists. The 5G network's low latency may even make remote robotic surgeries possible.
For many decades, technology advancements have resulted in profound changes in human lives. The mobile data revolution has been the most significant in India over the last decade. India is expected to lead the digital revolution for several valid reasons. Applications and services based on technologies, such as IoT, automation, and AI will drive the growth of Indian economy. India wants to build 100 smart cities with sophisticated utilities and power systems. The services sector is expected to benefit from all these applications, as more industries demand cloud computing, Big Data, AI, and machine-learning (ML) applications. India-based large new-age companies, such as Ola, Flipkart, and Zomato, have demonstrated their ability to develop competitive applications and compete with international giants fairly. India businesses will have an opportunity to experiment alongside their international rivals with 5G.
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India 5G Market – Technology Advancements
By the end of 2028, 5G is expected to account for about 40% of mobile subscriptions—500 million. By then, smartphone users in India are expected to consume an average of 50GB of data per month. Even though 5G has officially been launched most recently, there is already a solid foundation for 5G adoption in India. Consumers are interested in adopting 5G. 40 million smartphone users are expected to use 5G in its first year of availability. The India 5G market has segments, such as Phantom Cell, Access/Backhaul Integration, Device-to-Device Communication, and Flexible Duplex Communication based on the component; into North India, South India, East India, and West India based on the region; into Consumer Electronics, Automotive, Retail, Home Automation, Energy, Healthcare, Utility, and others based on the application. Consumer electronics under the application category is projected to dominate India 5G market, accounting for most of the market share.
A framework for 5G networks based on open standards and interfaces is developing, allowing multiple operators or different stakeholders to run any application function on the edge and core following service requirements. Through open-source platforms, standards, interfaces, automation, and intelligence in the RAN controller (RAN Intelligence Controller (RIC)), Open RAN pushes the 5G network toward this goal. RIC uses microservices and analytics to make the 5G market more accessible to outside parties or other stakeholders. Moreover, remote areas across the country will have seamless coverage thanks to 5G technology. Energy, spectrum, and network efficiency will all rise as a result. Additional technology advancements brought on by 5G include Virtual Reality (VR), and AR.
Impact of COVID-19 on India 5G Market
Businesses have observed significant changes in their operational activities during the COVID-19 pandemic period. When the network services were not properly maintained, the situation became worse. The rise of the work-from-home trend coincided with significant adoption of the 5G market. According to the communication providers' standards, the services were offered to the industrial verticals. Because consumers were so aware of the benefits of adopting it, 5G technology emerged. The pandemic has given the market numerous growth opportunities to demonstrate its value. More growth opportunities are expected to emerge for India 5G market.
Prominent players in India 5G market include Bharti Airtel Limited, Bharat Sanchar Nigam Limited, Reliance Jio Infocomm Limited, Vodafone Idea Limited, AT&T INC., Cisco Systems, Inc., Ericsson, and Nokia Corporation. These companies use various strategies, including increasing investments in their R&D activities, mergers and acquisitions, joint ventures, collaborations, licensing agreements, and new product and service releases to further strengthen their position in India 5G market.
The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of India 5G Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in India 5G Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.
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