The continuing digitization across industries and heightened demand for efficient cloud-based services to support hybrid working arrangements have boosted the market for 5G technology. The need for more bandwidth, lower latency, faster download speeds, and efficient performance makes 5G technology integral to several businesses.
Although ongoing supply chain disruptions are delaying the delivery of raw materials, and input costs have been rising lately, significant funding from last year’s bipartisan infrastructure bill brightens the industry’s long-term growth prospects. Investors’ interest in this space is evident in the Direxion Daily 5G Communications Bull 2X Shares ETF’s (TENG) 6.6% gains over the past month. And the 5G Technology market is expected to grow at a 71.9% CAGR to $248.40 billion by 2028.
