Next Generation Communication Technologies Market Size, Share, Growth, And Industry Analysis, By Type (Wired Communication Technology, Wireless Communication Technology and Next Generation Communication Technologies), By Application (Telecommunication, Consumer Electronics, Healthcare, Security & Surveillance, Automotive, Industrial, Military & Defense and Others), Forecast From 2024 To 2031

Next Generation Communication Technologies Market Report Overview

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The global next generation communication technologies market size was USD 230820 million year was 2022 and is expected to reach USD 1443000.4 million in 2031, exhibiting a CAGR of 22.6% during the forecast period.

The term "next-generation communication technologies" refers to convergence infrastructure that can provide numerous services, like video, data, and voice, at a faster rate than traditional communication technologies. The market's focus is only on network technologies that enable infrastructure, like 5G, Li-Fi, and wireless sensor networks. Technological advancements such as the Internet of Things (IoT), e-commerce, and big data are factors that are fuelling the expansion of the market for next-generation communication technology, which in turn is leading to an increase in demand for advanced communication technology. The market for mobile and wireless communications is expanding quickly, which helps the market for next-generation communication technology grow as well.

COVID-19 Impact: Pandemic Hamper the Demand of Communication Technologies to Market Growth

The global COVID-19 pandemic has been unprecedented and staggering, with the next generation communication technologies market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden spike in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.

Due to the COVID-19 outbreak and subsequent lockdown, companies, as well as online and brick-and-mortar establishments, have been forced to close, endangering supply chains and exacerbating the gap between supply and demand. The COVID-19 has a significant impact on manufacturers of Next generation communication technologies because of supply chain disruptions and frequent lockdowns. Additionally, the geopolitical unrest and economic depression slowed the Next Generation Communication Technologies market growth in some regions. Governments are trying to address the issue by passing helpful programs and policies like financial packages, lower loan rates, and tax exemptions in response to COVID-19's long-term effects. The next-generation communication technologies market is anticipated to rebound to a significant level throughout the projected period, despite the world's efforts to find a COVID-19 breakthrough.

Latest Trends

"Developing Connected Vehicles in Some Regions to Boost Market Growth"

One new trend where Next Generation Communication Technologies have recently gained popularity is connected autos. To create these linked automobiles, which have opened up new potential for market expansion, Google, Inc. and a few other top corporations are collaborating and partnering with the automotive industry. The rate of technological development in the car infotainment market has accelerated dramatically. The next generation communication technologies markethas fully developed. These next generation communication technologies are expected to be replaced in the upcoming years by In-Vehicle Systems (IVS) and smartphone apps that come with pre-installed and self-updating maps.

Next Generation Communication Technologies Market Segmentation

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• By Type Analysis

According to type, the next generation communication technologies market can be segmented into Wired Communication Technology, Wireless Communication Technology and Next Generation Communication Technologies.

In terms of type, the wired communication technology is anticipated to be the largest segment during the forecast period.

• By Application Analysis

Based on application, the next generation communication technologies market can be divided into Telecommunication, Consumer Electronics, Healthcare, Security & Surveillance, Automotive, Industrial, Military & Defense and Others.

In terms of application, Telecommunication market is projected to hold the largest market share through 2028.

Driving Factors

"Artificial Intelligence's Rapid Adoption inManufactures Industry to Fuel Market Growth "

The manufacturing sector has seen an increase in the usage of AI and IoT technology. Manufacturers may stand out from the crowd by gathering precise data and creating original AI applications. Mobility limitations, severe lockdowns, and a staff shortage forced manufacturers to improve their production procedures. The application of AI and IoT in manufacturing processes has increased as a result. Artificial intelligence (AI) and machine learning (ML) algorithms were used in manufacturing plants to perform tasks like condition monitoring and equipment maintenance in the absence of a regular staff. During the anticipated term, this is assisting the market's growth.

"Rapid Growth in Wireless TechnologiesLed to Boost Market Demand "

Networking technology, especially wireless technology, is the foundation of the Internet of Things. By linking several devices and sensor nodes to the Internet, these technologies make machine-to-machine communication possible. Large-scale data collection for improved decision-making is also made possible by these technologies. There are many different wireless communication technologies available, each with different connectivity ranges, power needs, and data transfer rates. Cellular technologies are being used more frequently in the industrial sector for machine-to-machine communication. Throughout the anticipated term, this will contribute to market growth.

Restraining Factors

"The hefty infrastructure expenditures related to 5G's rollout and coverage are impeding the Market Growth"

Although 5G delivers a huge improvement in speed and bandwidth, its shorter range necessitates additional infrastructure. Although 5G antennas and base stations are smaller than previous generations, more of them would need to be put on structures like homes or buildings to make up for their reduced range. Cities must implement additional repeaters to spread out the waves and improve range while still maintaining consistent speeds in more densely populated regions. Because this demands expensive infrastructure deployment, the market's growth is negatively impacted.

Next Generation Communication Technologies Market Regional Insights

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North America is expected to lead the next generation communication technologies market share with major operators stating their intentions to deploy 5G. Smartphone OEMs and telecom firms in the area are quickly preparing for the shift as 5G network rollouts increase. In collaboration with service providers, smartphone component manufacturers like Qualcomm Technologies Inc. are creating 5G modem chipsets.

Additionally, compared to other regions, the region has the highest increase in demand for innovative technologies including machine-to-machine communication, linked autos, and AI. Therefore, it is predicted to present a wide range of prospects for thenext-generation communication technologies market.

Key Industry Players

"Adoption Experiential Marketing Services by Key Players Influencing Market Development"

The top key players in the market areToshiba, Energizer, Camelion Battery, Seiko, NANFU, Maxell (Hitachi), EVE Energy, Sony, Duracell, Panasonic. Most of the top players hold next-generation communication technologies market shares. In addition, the strategies to develop new technologies, capital investment in R&D, improve product quality, acquisitions, mergers, and compete for the next-generation communication technologies market growth in the competition help them to perpetuate their position and value in the market. Besides, collaboration with other companies & extensive possession of market shares by the key players stimulates the next-generation communication technologies market.

LIST OF TOP NEXT GENERATION COMMUNICATION TECHNOLOGIES COMPANIES

• GP Batteries (China) AT&T (China)
• Verizon(U.S.)
• Huawei Technologies (China)
• Devicescape Software (U.S.)
• Green Packet Berhad (Malaysia)

Report Coverage

This report examines an understanding of the next-generation communication technologies market’s size, share, growth rate, segmentation by type, application, key players, and previous and current market scenarios. The report also collects the market’s precise data and forecasts by market experts. Also, it describes the study of this industry’s financial performance, investments, growth, innovation marks, and new product launches by the top companies and offers deep insights into the current market structure, competitive analysis based on key players, key driving forces, and restraints that affect the demand for growth, opportunities, and risks.

Furthermore, the post-COVID-19 pandemic’s effects on international market restrictions and a deep understanding of how the industry will recover, and strategies are also stated in the report. The competitive landscape has also been examined in detail to provide clarification of the competitive landscape.

This report also discloses the research based on methodologies that define price trend analysis of target companies, collection of data, statistics, target competitors, import-export, information, and previous years’ records based on market sales. Moreover, all the significant factors which influence the market such as small or medium business industry, macro-economic indicators, value chain analysis, and demand-side dynamics, with all the major business players have been explained in detail. This analysis is subject to modification if the key players and feasible analysis of market dynamics change.