5G is set to proliferate in 2020. The fifth-generation mobile network is touted to revolutionize the way in which we interact with technology, facilitating faster download speeds and seamless transfer of data.
Per Cisco’s Annual Internet Report, by 2023, the average 5G speed will be 575 megabits per second, or 13 times faster than the average mobile connection.
While global mobile operators are eyeing expansion of 5G network footprint, device manufacturers have leapfrogged their plans to roll out 5G-enabled devices for market dominance.
The global 5G technology market is estimated to be $5.53 billion in 2020 and reach $667.90 billion by 2026, witnessing a CAGR of 122.3% during 2021-2026, per an Allied Market Research report.
Rising consumer demand for bandwidth due to massive increase in video consumption and the ongoing digital transformation are aiding rapid proliferation of 5G. Low latency of 5G is a key catalyst in this regard.
Intensive infrastructure investments for 5G and favorable trial results are positives in this regard. Smart connected homes, hospitals, factories and cities along with self-driving vehicles remain key beneficiaries of 5G.
5G is expected to further facilitate rapid adoption of IoT and connected smart-based devices, along with emerging applications like AR, VR and AI. Moreover, 5G enables advanced technologies in the IoT space, for instance, extending sensor driven IoT capabilities to drones, actuators and robots.
As such, 5G infrastructure and market is expected to witness a CAGR of 67.1% to reach $47.78 billion by 2027, per a Research and Markets report. Moreover, according to Verified Market Research report, the global 5G chipset market is valued at $1.96 billion in 2020. The market is projected to reach $21.87 billion by 2026 at a CAGR of 44.1% during 2021-2026.
Technology Players Poised to Benefit From 5G
Let’s delve deep to find out what technology stalwarts are doing to bring 5G mainstream in 2020.
Qorvo (QRVO - Free Report) is currently supplying products for more than 20 5G field trials. The company has introduced Front-End Modules (FEMs) that can function on both pre-5G and 5G architecture. Its GaN technology also enables FEMs to support the emerging 5G infrastructure.
Qorvo recently unveiled gallium arsenide (or GaAs) FEM, QPF4010, to aid 5G millimeter wave (mmWave) base stations in supporting additional capacity.
In the last reported quarter, this Zacks Rank #1 (Strong Buy) increased shipments of 5G massive MIMO infrastructure solutions to various OEMs. Notably, the company commenced shipments of BAW filters to a top-tier infrastructure OEM supporting China Mobile’s 5G small-cell deployments.
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Qorvo, Inc. Revenue (TTM)