5G Revolution Takes India 5G Market by Storm: Unleashing Limitless Possibilities with Revenue Opportunity of $168.8 Billion | Astute Analytica
India 5G Market is projected to offer a lucrative revenue opportunity worth US$ 1.68.8 Bn during 2023-2031 at a CAGR of 43.8% during the forecast period.
New Delhi, Feb. 02, 2023 (GLOBE NEWSWIRE) -- India is one of the largest telecom markets in the world with more than 1.2 billion mobile subscribers. The market is currently dominated by Reliance Jio, Airtel and Vodafone Idea (VI). As of 2023, India has approximately 10 million 5G connections and the number is expected to reach over 1 billion by the end of 2023. In terms of geographical coverage, 5G services are currently available in selected pockets across India, mainly in the metro cities. However, the government is planning to push the telecom operators to roll out nationwide 5G services by the end of 2024.
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Jio and Airtel are leading the 5G expansion in India. Currently, 5G technology is being used mainly for high-speed internet access, immersive gaming and video streaming, and connected devices in India 5G market. According to IDC, 5G subscription growth is expected to be driven by media and entertainment applications like Virtual Reality (VR) and Augmented Reality (AR).
5G networks are also expected to power new industries in India such as smart farming, autonomous vehicles, and smart manufacturing. Astute Analytica also estimates that 5G networks will account for 8.9% of all mobile subscriptions by the end of 2023, compared to only 0.9 percent in 2022. The Indian government has also taken steps to ensure that 5G deployment is successful in the country. It has allocated spectrum for 5G trials and established testbeds for 5G networks. The government has also increased private sector participation in the 5G sector, allowing telcos to partner with foreign companies to deploy 5G infrastructure.
All in all, the 5G industry in India is still in its early stages but it has the potential to revolutionize the telecom sector. With the right policies and investments in place, 5G can become a major driver of economic growth and development in India.
Reliance Jio is at Forefront of India 5G Market
Reliance Jio is indeed one of the frontrunners in the 5G deployment race in India. The company has made tremendous progress in a short span of time, deploying its 5G network in 100 Indian cities so far and they are likely to cover over 1000 Indian cities by the end of 2023. According to the recently released report, the country has climbed up 26 spots in rank globally for median mobile speeds due to the company's 5G rollout.
Moreover, the company in the India 5G market has completed its 5G deployment milestone in just three months, ahead of its competitors. Furthermore, Reliance Industries chairman Mukesh Ambani recently announced that the 5G services will be available for all users across India by 2023. He also shared that the move will help bridge the rural-urban divide in terms of internet access.
This is a major step forward for India's digital infrastructure as 5G network will enable faster data speeds and allow for seamless internet access. India's leapfrogging to 5G technology will aid its development and ensure that it remains competitive on the global stage.
Reliance Jio Taking all the Possible Action to Stay Relevant to the India 5G Market
Reliance Jio is one of India’s leading telecom companies and is paving the way for the development of 5G in the country. Recently, the company has partnered with Nokia and Ericsson to supply 5G equipment, in order to accelerate its rollout of the technology across India.
The deal with Nokia and Ericsson includes a multi-year contract to deploy energy-efficient 5G Radio Access Network (RAN) equipment in their respective networks. The two telecom giants are expected to support the company in deploying 5G networks in Mumbai and Maharashtra and build India's first 5G Standalone network. Additionally, Jio also has a deal with Motorola to ensure that its 5G smartphones support Jio's advanced standalone 5G technology.
Jio is currently looking to invest close to $6 billion in India 5G market and other related infrastructure projects in India. The company is also planning to acquire spectrum worth $3.3 billion in the upcoming 5G spectrum auction, which will be used for deploying their 5G rollout.
Jio is looking to collaborate with global telecom giants to develop indigenous 5G equipment for the Indian market. In addition to Ericsson and Nokia, Jio is also working with Qualcomm, Intel, and Samsung to explore the development of 5G technologies.
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Top Trends Shaping India 5G Market
Increased Mobile Subscriptions: The commercial rollout of 5G in India is likely to increase the median download speed by 10 times as compared to the existing 4G network, which will result in increased mobile subscriptions.
Growing IoT Ecosystem: The 5G technology is expected to play a major role in driving the growth of IoT ecosystem in India with more connected devices utilizing the 5G network for better performance.
Increased Data Usage: The introduction of 5G technology is anticipated to significantly increase the data usage of Indian consumers with average data usage expected to hit 50 GB per month in the India 5G market.
Improved Network Performance: 5G is offering faster download speed and reduced latency time along with much higher connection density of devices per km2, thereby improving the overall network performance.
Boost to Indian Economy: The 5G sector is expected to generate revenues of nearly $180 billion by 2030, making it a significant contributor to the Indian economy.
Growing Investments: With 5G being seen as the key driver of growth, new investments in network infrastructure, devices, services and applications are expected to pour into the Indian market in order to take advantage of the opportunities offered by 5G.
Enhanced Mobile Broadband (EMBB) Offer Revenue Opportunity Worth 93,549.8 million in India 5G market
Enhanced Mobile Broadband (eMBB) is expected to be the major revenue driver for the market. According to a recent study from Astute Analytica, eMBB services are projected to generate an estimated $93,549.8 million in revenue for the India 5G market by 2031. This will be about 56% of total 5G revenues in India. eMBB is an important service offering of 5G that seeks to deliver better data transfer speeds and decreased latency compared to existing 4G services. With the launch of 5G services in India, there is an increasing demand for high-speed internet services.
To meet this need, operators have started investing in 5G networks to provide enhanced mobile broadband services to their customers. This is contributing significantly to the growth of the India 5G market as well as the eMBB segment.
The study also predicts that by the end of 2022, the number of 5G users in India will reach 18%. This will create a further demand for eMBB services among consumers, and consequently, contribute to the overall growth of the 5G market in the country.
Some of the Top Market Players Are:
Bharti Airtel Ltd.
BT Group plc
Cisco Systems, Inc.
Samsung Electronics Co. Ltd.
Verizon Communications, Inc.
Other Prominent Players
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