Rise in need for high data speeds across different industry verticals and demand for low latency networks are the major factors that drive growth of the 5G Monetization Market. In addition, need for a reliable and secure communication is expected to supplement the market growth. However, lack of expertise and high implementation cost hampers the market growth. Furthermore, adoption of internet of things (IoT) and Industry 4.0. is expected to provide lucrative opportunities for the global 5G monetization market.
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5G is the 5th generation mobile network, which is designed to offer higher multi-Gbps data peak rated network. It provides various features such as better reliability, ultra-low latency, huge network power, improved availability, and improves users’ experience. 5G services allow operators to expand their value proposition by providing enhanced services to their consumers, businesses, and service partners.
5G connectivity is being used in a variety of applications such as autonomous vehicles, remote surgery, and immersive mobile VR and AR. Presently, businesses are adopting 5G connectivity across the globe to give better user experience and higher revenue generation, which is expected to help drive the5G monetization market growth in the future.
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North America is expected to have the highest 5G monetization market share during the forecast period, owing to early technology advancements and wide number of 5G technology service providers present in the region. In addition, large number of enterprises are integrating 5G technology in their business models for better productivity.
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COVID-19 Scenario Analysis:
- Since the COVID-19 virus outbreak in December 2019, the disease has spread to almost 180+ countries around the globe with the World Health Organization declaring it a public health emergency. The global impacts of the corona virus disease 2019 are already starting to be felt, and are expected to significantly affect the 5G monetization market in 2020.
- 5G network would help IoT-focused businesses by impacting IoT devices to provide infrastructure diagnostics and deeper data insights.
- 5G network would also help businesses to create multiple virtual networks with one physical system, improving their efficiency and making their network more flexible.
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