Blockchain Press Releases
5G New Radio Market to be Worth $251.37 Billion by 2030: Grand View Research, Inc.
SAN FRANCISCO, July 11, 2023 /PRNewswire/ — The global 5G new radio market size is expected to reach USD 251.37 billion by 2030, registering a CAGR of 29.1% from 2023 to 2030, according to a new report by Grand View Research, Inc. The 5G New Radio (NR) market is being driven by a number of factors, including the increasing demand for high-speed and low-latency connectivity, the growth of the Internet of Things (IoT) and Machine-to-Machine (M2M) communications, and the increasing adoption of cloud-based technologies. Additionally, the need for faster and more reliable communication networks to support emerging applications such as autonomous vehicles, augmented reality and virtual reality, and remote healthcare is also driving the growth of the 5G New Radio market.
Key Industry Insights & Findings from the report:
- The hardware segment dominated the market in 2022 owing to the growing need for sophisticated radio units like as massive MIMO and beamforming, which provide higher coverage and capacity while also assisting in resource optimization, is a crucial element driving the segment growth.
- The Sub-6 GHz segment dominated the market in 2022 owing to Sub-6 GHz spectrum bands ability to provide a strong combination of coverage and capacity, making them suited for offering high-speed connection to large numbers of users, is a primary driver driving sector expansion.
- The Standalone (SA) segment is projected to expand at the highest CAGR owing to the advantages over Non-Standalone (NSA), including faster network performance and lower latency.
- The Ultra-reliable Low-latency Communications (URLLC) segment is expected to grow significantly over the forecast period. The growing need for mission-critical applications requiring high reliability and low latency is propelling the URLLC segment in the 5G New Radio (NR) market
- The manufacturing segment is projected to expand at the highest CAGR over the forecast period. The potential of 5G NR technology to provide real-time monitoring and management of industrial processes, which leads to higher efficiency and productivity, is a key element influencing the segment growth.
- Asia Pacific dominated the regional market in 2022. The region has a sizable population and a rising number of mobile customers, which is fueling demand for innovative apps and high-speed internet services
Read full market research report, “5G New Radio Market Size, Share & Trends Analysis Report By Offering, By Operating Frequency, By Architecture, By Application, By Industry, By Region, And Segment Forecasts, 2023 – 2030“, published by Grand View Research.
5G New Radio Market Growth & Trends
The rising usage of massive Multiple-Input Multiple-Output (MIMO) technology which involves the use of a large number of antennas at both the transmitter and receiver ends, which can significantly increase the data throughput and improve network capacity is a significant factor contributing to the growth of the market. Additionally, there is a growing focus on the development of compact and lightweight radio units that can be easily deployed in a variety of settings, including urban and rural areas. This is particularly important for enabling the deployment of 5G networks in areas where traditional infrastructure is not readily available.
Increasing demand for the high speed mobile internet among consumers is also contributing to the market growth. As the need for high-speed mobile internet grows, 5G New Radio (NR) technology will become increasingly vital in meeting these expectations. 5G New Radio technology, with higher data transfer rates and lower latency, can provide a better user experience for mobile internet consumers. The growing popularity of Virtual Reality/Augmented Reality (VR/AR) applications is driving the demand for 5G New Radio technology, as these applications require high-speed data transfer rates and low latency to provide a seamless user experience. With its ability to support Enhanced Mobile Broadband (eMBB), 5G New Radio can enable high-quality VR/AR applications on mobile devices.
The outbreak of the COVID-19 pandemic had a moderate impact on the market. The pandemic had disrupted the supply chains and caused delays in the deployment of 5G networks in some regions. However, as the market started recovering, the pandemic has accelerated the demand for 5G NR solutions, as more people have been working remotely, and there has been an increased need for connectivity and high-speed data transfer. This has led to a rise in demand for 5G-enabled devices, such as smartphones, tablets, and laptops, and has also increased the need for network infrastructure to support the increased data traffic. Such factors are anticipated to create more demand for the market over the coming years.
5G New Radio Market Report Scope
|
Report Attribute |
Details |
|
Market size value in 2023 |
USD 42.16 billion |
|
Revenue forecast in 2030 |
USD 251.37 billion |
|
Growth rate |
CAGR of 29.1% from 2023 to 2030 |
|
Base year of estimation |
2022 |
|
Historical data |
2019 – 2021 |
|
Forecast period |
2023 – 2030 |
5G New Radio Market Segmentation
Grand View Research has segmented the global 5G New Radio Market based on offering, operating frequency, architecture, application, industry, and region.
5G New Radio (NR) Market – Offering Outlook (Revenue, USD Billion, 2019 – 2030)
- Hardware
- Base Stations
- Customer Premises Equipment (CPE)
- Radio Units
- Antennas
- Others
- Software
- Services
5G New Radio (NR) Market – Operating Frequency Outlook (Revenue, USD Billion, 2019 – 2030)
- Sub-6 GHz
- mmWave
5G New Radio (NR) Market – Architecture Outlook (Revenue, USD Billion, 2019 – 2030)
- Non-Standalone (NSA)
- Standalone (SA)
5G New Radio (NR) Market – Application Outlook (Revenue, USD Billion, 2019 – 2030)
- Enhanced Mobile Broadband (eMBB)
- Ultra-reliable Low-Latency Communications (URLLC)
- Massive Machine-type Communications (mMTC).
5G New Radio (NR) Market – Industry Outlook (Revenue, USD Billion, 2019 – 2030)
- Telecom & IT
- Manufacturing
- Automotive
- Healthcare
- Retail
- Others
5G New Radio (NR) Market – Regional Outlook (Revenue, USD Billion, 2019 – 2030)
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- Spain
- Asia Pacific
- China
- India
- Japan
- South Korea
- Australia
- Latin America
- Brazil
- Mexico
- Middle East & Africa
- Kingdom of Saudi Arabia (KSA)
- UAE
- South Africa
List of Key Players in the 5G New Radio (NR) Market
- Huawei Technologies Co., Ltd.
- Qualcomm Technologies, Inc
- Telefonaktiebolaget LM Ericsson
- Samsung
- Intel Corporation
- Cisco Systems Inc.
- Fujitsu
- NEC Corporation
- Verizon Communications Inc.
- Keysight Technologies
Check out more related studies published by Grand View Research:
- Cognitive Radio Market – The global cognitive radio market size is expected to reach USD 24.69 billion by 2030 and is expected to expand at a CAGR of 18.6% from 2022 to 2030. The emergence of 5G technology and increasing demand for advanced wireless communication devices in the government and defense sector is expected to fuel the demand for cognitive radios in the forecasted period. The demand for cognitive radios has increased owing to its benefits, such as optimized radio frequency spectrum and integration with Artificial Intelligence (AI) and Machine Learning (ML), making the system more efficient. Furthermore, the ability to overcome radio spectrum scarcity to improve satellite communications and enhance service quality is resulting in the faster adoption of cognitive radios worldwide, consequently driving the market globally.
- Software Defined Radio Market – The global software defined radio market size is anticipated to reach USD 47.74 billion by 2030, registering an estimated CAGR of 8.2% from 2022 to 2030, according to a new report by Grand View Research, Inc. Software defined radio (SDR) is a technology that aids in the transmission and reception of high-frequency signals over long distances. It offers benefits while resolving spectrum and wireless communication restrictions. Furthermore, the technology has progressed to the point that software defined radio systems with large bandwidth applications that provide high-quality services are now possible. Countries with a significant modern military presence like the U.S., Japan, Germany, South Korea, and Australia are upgrading their communication systems by integrating software defined radio as the new norm.
- 5G Infrastructure Market – The global 5G infrastructure market size is estimated to reach USD 95.88 billion by 2030, registering a CAGR of 34.2% from 2022 to 2030, according to a new study by Grand View Research, Inc. Significant investments by communication service providers to deploy 5G infrastructure across the globe to offer improved data services are estimated to drive the market. Additionally, robust innovation in next-generation 5G network equipment and deployment module will help in bringing down the overall deployment costs for service providers, thus boosting 5G infrastructure deployment during the forecast period.
Browse through Grand View Research’s Next Generation Technologies Research Reports.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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Grand View Research, Inc.
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DUBAI, UAE, Nov. 15, 2024 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, opens up the November arena for the Bybit Crypto Titans trading competition. Available for users in select regions, a prize pool of 55,000 USDT will be available for a limited time only.
From now to Nov. 30, eligible traders can level up their trading strategies and amplify their winning chances by inviting friends to share two prize pools in two simple steps: register for the event at the Grand Arena, and invite friends and trade.
Battlefields: Once in the Arena, users can pick their battlefields. Up to 30,000 USDT are up for grabs in the Team Battlefield ranked by total trading volume, while another 15,000 USDT is reserved for traders in the Solo Battlefield competing by PnL(%).
More perks: Additionally, top traders and leaders will receive extra perks. Participants will receive a bonus 5 USDT for every new qualified referee, and the first 50 Team Leaders whose team exceeds a threshold amount in trading volume will be entitled to a 100 USDT bonus.
“As trading volumes overall are climbing, we are seeing so many talented traders in our community with a knack for navigating fast-moving markets. This event gives some of them an incentive to share their passion with their friends, and there is room for rewards for the solo trading pros to shine as well,” said Joan Han, Sales and Marketing Director of Bybit.
Market sentiment and activities have been trending up in recent weeks globally, and the enthusiasm is shared among users in niche markets. While traders rush to capture opportunities in a heated market, the Crypto Titans competition encourages users to bring out the best trading game and hone their trading skills for healthier returns.
Find out more about Bybit’s Crypto Titans: November Showdown, terms and conditions apply.
#Bybit / #TheCryptoArk
About Bybit
Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving over 50 million users. Established in 2018, Bybit provides a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle Red Bull Racing team.
For more details about Bybit, please visit Bybit Press
For media inquiries, please contact: [email protected]
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With thousands of press releases published each week, it can be difficult to keep up with everything on PR Newswire. To help finance journalists and consumers stay on top of the week’s most newsworthy and popular releases, here’s a recap of some major stories from the week that shouldn’t be missed.
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- Prosperity or catastrophe: #Insurance2040 study reveals four possible futures for the industry
By 2040, technological innovation driven by customer centricity could pave the way to greater climate resilience and more personalized offerings by the insurance industry. Alternatively, insurance could become a luxury afforded only to the wealthiest few. - Cardinal Health announces two strategic additions to its portfolio
Cardinal Health will acquire a majority stake in GI Alliance (GIA), the country’s leading gastroenterology (GI) management services organization (MSO), from a combination of GIA physician owners and funds managed by affiliates of Apollo. Cardinal Health will also acquire the Advanced Diabetes Supply Group (ADSG), one of the country’s leading diabetic medical supplies providers, for approximately $1.1 billion in cash. - BlackRock Launches New BUIDL Share Classes Across Multiple Blockchains to Expand Access and Potential of BUIDL Ecosystem
This initiative represents the next step in the evolution of the tokenization market, by enabling BUIDL to be used within leading blockchain-based financial products and infrastructure across ecosystems. - Primo Brands Corporation Announces Successful Completion of Merger of Primo Water and BlueTriton Brands
“I believe Primo Brands is positioned to be a leader in the healthy hydration beverage category, thanks to the strength of its iconic, sustainably-sourced brands, its robust operations and extensive North American network, and its responsible operation of numerous springs across the country,” said Dean Metropoulos, Non-Executive Chairman of the Board of Directors of Primo Brands. - Jackson Hewitt Tax Services Expands Workforce, Offering Job Opportunities Nationwide for Upcoming Tax Filing Season
The week-long event will launch the combined hiring of 18,000 employees to prepare for the upcoming tax filing season. The Jackson Hewitt hiring events are open to the public and include on-site interviews. Qualified candidates could receive a job offer immediately. - PNC Bank to Double Planned Branch Openings to More Than 200 Across Six States This announcement brings the bank’s total investment to approximately $1.5 billion to open more than 200 new branch locations in 12 cities across the U.S. over the next five years, while completing the renovations of 1,400 existing branches during the same time period.
- Alchemy Pay Expands Virtual Card Functionality with Google Pay Support The new card BINs added will significantly enhance the capabilities of crypto cards, expanding their support for a broader range of payment scenarios and improving transaction success rates. This advancement is particularly impactful when paired with Google Pay, one of the most popular and widely used digital payment platforms, trusted by millions for its convenience and security.
- Finaya Unveils Nationwide Homeownership Platform
From providing rich and current information about home values and property conditions, to finding helpful repair and remodeling providers, to shopping for and securing the right insurance, the platform simplifies the homeownership process, making it more accessible, convenient and efficient. - GenAI predicted to inspire revenue growth in 76% of businesses, but only 4% qualify as “leaders” in AI and analytics
Kearney’s report confirms that businesses are not only aware of how big data, AI, and analytics will impact revenue generation and enhance business strategies, but they are investing to stay ahead of the curve, too. - GameAbove Sports Acquires Meaningful Ownership Stake in Brisbane Bullets with NBA Legend George Gervin as Part of Ownership Team
This move marks a significant milestone for GameAbove Sports, a CapStone Holdings Inc. company, as it expands its influence on international basketball ahead of the Brisbane 2032 Olympics. - Most US shoppers are encountering generative AI while shopping without realizing it
A survey of 700 online shoppers in the US shows 71% are unaware of having used generative AI while shopping online even though most had recently shopped at retailers currently using it. 41% of customers say they would feel comfortable using a generative AI tool from a brand they trust.
For more news like this, check out all of the latest finance-related releases from PR Newswire.
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Blockchain Press Releases
Blockchain for Good Alliance Hosts Web3 Oscar, Celebrating Innovators Advancing UN’s Sustainable Development Goals
DUBAI, UAE, Nov. 14, 2024 /PRNewswire/ — The highly anticipated Web3 Oscar, a prestigious event hosted by the Blockchain for Good Alliance (BGA), celebrating blockchain projects driving real-world impact aligned with the UN’s 17 Sustainable Development Goals (SDGs). Industry leaders gathered in Bangkok to honour innovators shaping a sustainable future.
The event was part of BGA’s November lineup, featuring two major initiatives for global change through blockchain: the Sustainable Innovation Summit and the Web3 Oscar Awards.
Sustainable Innovation Summit: A Hackathon for Social Impact
Held from September 9 to November 11, 2024, the Sustainable Innovation Summit hosted a hackathon with a $100,000 prize pool, inviting participants worldwide to create blockchain solutions addressing key issues such as poverty, clean water access, and gender equality. The summit concluded with a Demo Day at the Grand Hyatt Erawan in Bangkok, where finalists showcased their projects to blockchain pioneers, investors, and industry leaders, with opportunities for incubation support and equity-free funding.
Rising Stars
In a cinematic presentation style, 10 shortlisted projects from across the globe, participating in the Sustainable Innovation Summit’s 17 SDGs Challenge, took the stage. Each team presented their blockchain solutions to address sustainability challenges, telling the story of a “hero” confronting a global crisis (one of the 17 SDGs), with blockchain as the “tool” they wield for change.
Winners for the 17 SDGs Challenge:
- 1st Place: Grand Social Impact Award 🥇 EthicHub
- 2nd Place: Outstanding Social Innovation Award 🥈 Plastic Odyssey
- 3rd Place: Emerging Impact Award 🥉 ResearchHub
Rising Star Awards (top 10 projects, in no specific order):
- Wavy Health
- LAKE (LAK3)
- KulaDAO
- erable°
- arkreen
- UCO Network
- Edu3Labs
Web3 Oscar Awards: Honouring Leaders in Blockchain for Social Good
Coinciding with the hackathon’s Demo Day on November 11, the BGA Web3 Oscar Award recognizes individual contributions to blockchain for social good across three categories, with up to 7 total winners.
Each category highlights individual efforts aligning with BGA’s mission.
The Collaboration Bridge Award honours individuals who have played a vital role in guiding the strategic direction of the Blockchain for Good Alliance (BGA). This year’s recipients are:
- Harn, CEO of Trigger Asset Management
- Mariana de la Roche Wills from INATBA (International Association for Trusted Blockchain Applications) and de la Roche W. Consulting
The Public Welfare Contribution Award celebrates individuals who have harnessed #BlockchainForGood. This award was presented to:
- BreeAnne Yek, Consultant at The Verdant Room
- Milica Dimitrijevic from Positiveblockchain.io
These individuals have demonstrated remarkable dedication, guidance, and pioneering work, significantly advancing the mission of the Blockchain for Good Alliance (BGA) in promoting sustainable development through blockchain technology.
In her closing remarks, Helen Liu, Co-founder and COO of Bybit and founder of BGA, explained how blockchain can bring people together to make a real difference worldwide. Her vision for leveraging blockchain to create worldwide impact was both inspiring and forward-thinking.
About Blockchain for Good Alliance (BGA)
The Blockchain for Good Alliance (BGA) is a long term collaborative non-profit initiative with key partners with the main aim to contribute to societal good by using blockchain technology to solve real world problems. By convening leaders, innovators, and organisations from across the blockchain community, BGA seeks to drive innovation, collaboration, and action towards a more sustainable and equitable world.
For more information
Email: [email protected]
Website: www.blockchainforgood.xyz
Twitter: www.twitter.com/chainforgood
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