Market Trends of Vo5G Industry
This section covers the major market trends shaping the Voice-over-5G Market according to our research experts:
5G Commercialization is Driving the Market Studied
- In 2019, Nokia made the world’s first commercially deployed, live, cloud-based 5G radio access network in North America.
- In August 2017, Huawei signed a memorandum of understanding (MOU) with Festo, to jointly explore the 5G network application in the manufacturing industry and to promote the digital transformation of the manufacturing industry with the 5G network slicing technology. This MoU was mainly based on 5G cloud robotics to test the Robot-as-a-Service (RaaS) concept, which is also a part of offering voice-based services in smart factories.
- In August 2019, Samsung Electronics and SK Telecom demonstrated the use of 5G technology for enhancing live motor racing experiences, with the help of Samsung’s end-to-end 5G mmWave solutions, including 5G New Radio (NR) base stations. The same equipment has been in commercial operation in the United States since the first half of 2019. The companies used the live video streaming capability to broadcast multiple views of the race in real-time over T Live Caster 5G, SK Telecom’s live broadcasting solution.
- In May 2019, Samsung Electronics signed an expansion contract with KT Corporation to offer public safety (PS-LTE) network solutions based on 3GPP standard Release 13 for ten major metropolitan regions in South Korea, including Seoul, by 2020.
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Asia-Pacific is Expected to Register a Significant Growth Rate Over the Forecast Period
- Asia-Pacific is one of the significant markets for Vo5G, owing to the highly developing telecom sector and large customer base. Furthermore, the region is increasingly investing in the 5G market. Countries, like China, India, Japan, Australia, Singapore, and South Korea, are increasingly investing in the development of the domestic 5G market, which is also expected to drive the Vo5G market in the region.
- According to GSMA, China is set to become one of the world’s leading 5G markets over the next few years, with Chinese mobile operators expected to invest an additional USD 58 billion in 5G network rollouts, over the next two years.
- The end-user applications of the 5G network are also increasing in the region, which is also expected to develop a space for the market studied. For instance, China Unicom, which is increasingly investing in 5G deployment, made a strategic collaboration with Intel for the Winter Olympics in Beijing in 2022, with a focus on smart applications for the venue.
- Large telecom markets, like India, are also emerging as the fastest-growing markets for M2M services. In February 2018, the Department of Telecommunications (DoT) (India) issued a policy document that offers guidelines to enable the introduction of machine-to-machine (M2M) communication services in India.
- The India-based company, Tech Mahindra, is building 5G use cases with US-based hospitals, in order to help manage remote surgeries that may require seamless network connectivity.
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