According to the Fortune Business Insights report, titled "5G Small Cell Market Size, Share & Industry Analysis, By Application (Residential & SOHO, Enterprises and Others), By Communication Infrastructure (Femtocell, Metrocell, Picocell and Microcell), and Regional Forecast, 2019-2026", the market value stood at USD 175.2 Million in 2018. The report also incorporates an in-depth assessment and analysis of the various factors, trends, and dynamics that will shape the market so as to enable businesses to design their strategies conducive to their growth.
The global 5G small cell market size is set to reach USD 15,951.7 Million by 2026, displaying an astounding CAGR of 81.9% during the forecast period. Growing awareness about the advantages of small cell technology will be one of the primary drivers of the growth of this market. 5G encounters various hindrances when providing internet to users and therefore, consumers may not be able to avail 5G speeds. To overcome these obstacles, small cells are deployed. These cells are basically low-power mini base stations located in the region to be served, are managed by telecom operators, and result in improved coverage. Users can enjoy faster data services owing to the low latency of this technology. Furthermore, these cells are small in size and are extremely convenient to install and dismantle. Lastly, they consume less power, making them environment-friendly. These advantages have resulted in pushing up the demand for these cells, which bodes well for the 5G small cell base station market.
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List of Key Companies Profiled in the 5G Small Cell Market Research Report are:
Integration of 5G with Internet of Things (IoT) Technology to Favour Growth
There is an increasing demand for high-speed mobile data and 5G is expected to usher in a new era of mobile internet technology. With the technology getting launched in 2020, there is growing anticipation among consumers. Industry pundits are expecting a significant expansion of the market size in the next few years. According to Ericsson AB, by 2022, there will be 550 million 5G subscriptions. More importantly, 5G is seen as the foundation for IoT to flourish and become more accessible. The combined force of these two technologies will not only enlarge the web of connectivity among people, but it will also revolutionize business processes, particularly in the manufacturing and service sectors. For example, Imaginalis is on its way to integrate 5G and IoT for remote diagnosis services which will be achieved through smooth image transfers and fast data analysis. These benefits will outweigh the initial high costs of 5G small cell installation across regions and shape the 5G small cell market trends.
Well-Established Communication Infrastructure to Fuel the Market in North America
Having generated USD 59.8 million in terms of revenue in 2018, North America is set to dominate the global 5G small cell market share till 2026. Increasing demand for fast data and growing advancements in Virtual Reality (VR) and Augmented Reality (AR) platforms are the main factors driving the growth of the market in North America. Europe is expected to grow at a considerable pace owing to increasing research in the region. Increasing smartphone penetration and rising adoption of advanced communication technologies by governments will accelerate the 5G small cell market growth in Asia-Pacific.
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Increasing Investment in Innovation to Invigorate Competitive Spirits
Key players in this market are intensely focusing on developing new and innovative products to better entrench their position as well as give consumers a wider choice of products. For example, Ericsson developed its palm size base station for indoor connectivity called Radio Dot. In July 2019, Ericsson and Swisscom collaborated to install this small cell base station in the latter's commercial office space in the Swiss town of Liebefeld. Similarly, Spanish technology start-up company, Celling 5G, recently joined the 5TONIC co-creation lab in Madrid to conduct research and find optimal solutions for outdoor 5G small cell tower deployment.
Since the beginning of 2017, the global small cell 5G network market has been obtaining a huge growth from the IT and telecom industry. This substantial growth in small cell 5G Network Market is mainly driven by the evolution of core wireless technologies, namely short-distance communication, tele-cloud, and others. One of the primary reasons for the overall development of small cell 5G networks is rising demand for mobile data volume across the globe. According to the various valid sources, total mobile data traffic is expected to rise by a decent growth rate of 5% over the next six years, reaching around 136EB/month (ExaByte) by the end of 2024. Annual mobile data traffic volume per smartphone remains to increase in all regions, mainly driven by enhanced IoT smart devices, reasonable data plans, and increase in overall data-intensive content
IoT solutions are used to create a local network between advanced smart devices including smartphones, drones, machines, robots, wearable devices, and other smart objects by gathering different access methods. small cell 5G network helps to connect and link autonomously with the help of precise available network architecture. Also, 5G networks help to establish a dense complex network that helps to connect millions of other smart devices with the help of IoT technologies.
The major driver resulting in the growth of the market is the rising adoption of Internet of Things technology by various telecom organizations in IT industry. By providing an advanced unified communications platform, IoT technology has the capability of operating as a catalyst for the overall growth of small cell 5G networks. According to the sources, the volume of smart devices based on internet of things extending from connected sensors to autonomous connected vehicles and others is expected to reach around 50 - 60 Billion by the end of 2020. Global players, namely IBM Corporation, Microsoft Azure, and others are increasing their investment in IoT technology to enhance small cell 5G network infrastructure features, thereby delivering increased security and compatibility with all smart devices.
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Based on applications, the scope of study is distributed into residential & SOHO, enterprises and others (government & defense and others). The enterprise segment is expected to be the largest in small cell 5G Network Market share. The next-generation 5G network would help to discover new opportunities for enterprises in upcoming years. Cloud computing based enterprise solutions for massive data analysis requiring significantly high speed can be easily fulfilled by 5G.
For enterprise applications, the Cisco system offers "Ultra Cloud Core" a full-featured (in-line services) packet core platform, that helps to securely integrate 3G/4G/5G/IoT/Wi-Fi connected services. Similarly, Telefonaktiebolaget LM Ericsson offers cutting-edge standalone New Radio (NR) software for enterprises to enables super-fast response times, rapidly extend 5G coverage.
Key offerings of small cell 5G network are:
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