Taipei-based government-backed IT research institute MIC (Market Intelligence& Consulting Institute) of III (Institute for Information Industry) held a forum on September 25-27, 2019, to reveal our findings on 5G services and applications. “Global 5G applications in the energy sector are estimated to increase to US$21.6 billion in 2026, up from US$4.84 billion in 2020, with a CAGR of 28.4% from 2020 to 2026,” says Dai-you Gan, industry analyst of MIC’. “The top three 5G applications in the energy sector are inspection drones, dedicated communications networks, and electric vehicle charging stations which are expected to reach US$5.47 billion, US$3.93 billion, and US$3.31 billion, respectively.”
Global 5G Application Market Value for Energy Sector, 2020-2026
Source: MIC, September 2019
“The global market value of inspection drones is estimated at US$300 million in 2020. Thus far, the US, Brazil, Sweden, and China have started to set up their own 5G LTE dedicated networks so the global market value of 5G dedicated communications networks is expected to reach US$1.3 billion next year. On the other hand, Tesla, ABB, Siemens, and Schneider Electric have also launched their own 4G EV charging stations.”
To see more about this topic, please visit: Global Agricultural Drone Market Development and Top Three Brands' Product Strategy, Development of 5G Industrial IoT and Global Chipmakers' Product Strategies, New Consumer Drones: Development Trends, Product Features, and Market Potential, Unmanned Aerial Vehicle: Patent Distribution, Market Opportunity, and Brand Strength
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Market Intelligence & Consulting Institute (MIC), based in Taipei, Taiwan, was founded in 1987. MIC is Taiwan's premier IT industry research and consulting firm providing intelligence, in-depth analysis, and strategic consulting services on global IT product and technology trends, focusing on markets and industries in Asia-Pacific. MIC is part of the Institute for Information Industry.