By 2024, 60 percent of communications service providers should have commercialized 5G service in cities. The consultants point out that the development of 5G infrastructure in 2021 has accelerated as the COVID-19 pandemic increased demand for optimized and ultra-fast broadband connectivity to support work-from-home applications, such as streaming video, online gaming, and social media applications.
5G is the fastest-growing segment in the wireless network infrastructure market, while other sectors are falling, so only investments in 5G can prove to be highly profitable, which is why high growth will be achieved in this segment. Thus, revenues for 5G, which amounted to about $13.7 billion dollars in 2020, will rise to the expected 23.2 billion dollars in 2022, which is a jump of an incredible 80 percent, while revenues from LTE and 4G networks, for example, show the opposite trend. Thus, instead of last year’s $17.1 billion, only $12.1 billion is expected in 2022, while revenue from the 3G and 2G networks will be reduced to just a third, from the existing $3 billion to just $1 billion.
The growth of 5G infrastructure will also increase the total revenue from the complete wireless network, from last year’s $46.3 billion to almost $50 billion in 2022. According to their projection, China will remain the leader in global 5G revenue, but revenues in Western Europe and the United States will grow at rates higher than 50 percent.
The development of 5G has been driven by changing circumstances in the pandemic. Although consumers will return to their offices, they will not stop working from home, so they will continue to look for a faster and better network that can ensure the transfer of large amounts of data – Gartner reports.