- The stock price of Borqs Technologies Inc (NASDAQ: BRQS) increased by over 10% pre-market today. This is why.
The stock price of Borqs Technologies Inc (NASDAQ: BRQS) increased by over 10% pre-market today. Investors have been responding positively to news from last week.
Borqs Technologies offered the following updates on the company:
Borqs has successfully signed a set of revised licensing agreements with Qualcomm, which includes purchasing the 5G patent licensing agreement. These agreements enable the Company to design and manufacture 5G products based on Qualcomm’s latest technologies for customers worldwide. And the proliferation of 5G usage in connection with the Qualcomm 5G platforms will continue to make 5G more robust for adaptations beyond smartphones and extend into home connectivity, computing, industrial equipment, power grid management, and more.
According to market research, the global 5G services market size is estimated to reach $1.67 trillion by 2030, registering a CAGR of 52% from 2022 to 2030, according to a new study by Grand View Research. And the rapidly rising demand for ultra-reliable and low-latency data networks capable of providing enhanced mobile connectivity is estimated to boost the market growth over the forecast period.
The U.S. is anticipated to dominate the North American regional market from 2022 to 2030 owing to the rising demand for higher data speeds for several end-use applications including M2M communications, energy & utility management, and smart mobility management. And the need to ensure strong, seamless and uninterrupted connectivity with autonomous vehicles is estimated to drive the adoption of 5G services.
With the robust deployment of 5G network infrastructure is estimated to improve the operational efficiencies in several IoT use cases, including smart homes, smart cities, and industry 4.0. Plus the rising need for high bandwidth to provide reliable communication to IoT devices is expected to elevate the overall market growth over the forecast period. In some countries like the U.S., China, and Japan, the trend of monitoring energy systems of buildings remotely is rising gradually. And this is expected to open new opportunities for rolling out 5G services over the forecast period, including smart control systems for Borqs’ solar power + storage subsidiary.
Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.