The 5G market is expected to reach $14.5 billion by 2023 (currently about RMB 98.165 billion) and is expected to rise to $37 billion by 2026 (currently about RMB 250.49 billion), with a compound annual growth rate of 11.0%, mainly driven by metaverse-related applications during the period. This will be driven by metaverse-related applications, further stimulating demand for 5G networks.
According to the report, 5G applications are mainly divided into industrial manufacturing, energy and equipment, medical, intelligent vehicle, public transportation and consumer electronics. Based on the $37 billion output value in 2026, industrial manufacturing accounts for 32% of the overall application output value, medical applications account for 15%, intelligent vehicles and public transportation together account for 25% of the output value, and consumer electronics account for 10%.
TrendForce has indicated that the metaverse is an emerging application service and manufacturers are still figuring it out, plus AR/VR, sensory operation and other technologies still need time to develop.
In addition, according to the report, from the perspective of global telecom operators and network equipment manufacturers, Nokia, Ericsson and Huawei are looking at metaverse business opportunities and have been investing development resources in network environment and network equipment optimization.
