TrendForce forecasts that the value of the global 5G market will reach USD 14.5 billion by 2023 thanks to the promotion of 5G private networks by enterprises and the upgrade of equipment for small cells and 5G FWA. Then, the global 5G market will grow further to USD 37 billion in 2026, and the CAGR for the period 2023~2026 will reach 11.0%. Metaverse-related applications will help stimulate demand for 5G networks during the period.

TrendForce states that the main market application segments for 5G networks are industrial manufacturing, energy and utilities, medical solutions, smart vehicles, public transportation, and consumer electronics. Regarding the distribution of the total projected market value of US$37 billion in 2026 per application,…