USD 6.4 Billion
5G Equipment Market Size, Share, Growth Analysis, By Component(Radio Access Network (RAN), Core Network, Transport Network), By Frequency Band(Low-Band (Sub-1 GHz), Mid-Band (1-6 GHz), High-Band (Above 6 GHz)), By Deployment Model(Traditional Macrocell, Small Cell, Massive MIMO), By Application(Enhanced Mobile Broadband (eMBB), Ultra-Reliable Low-Latency Communications (URLLC), Massive Machine-Type Communications (mMTC)), By Vertical(Consumer, Enterprise, Industrial), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG45A2276 |
Region:
Global |
Published Date: October, 2024
Pages:
199
|Tables:
65
|Figures:
72
5G Equipment Market Insights
5G Equipment Market size was valued at USD 6.42 billion in 2022 and is poised to grow from USD 7.35 billion in 2023 to USD 21.73 billion by 2031, growing at a CAGR of 14.51% during the forecast period (2024-2031).
Growing demand for high bandwidth communication around the world is projected to boost sales of 5G equipment over the coming years. Increasing investments in the development of 5G infrastructure around the world are also slated to bolster global 5G equipment market growth in the future. Advancements in 5G technologies and increasing migration from 3G and 4G communications are also presenting new opportunities for 5G equipment providers. Growing use of connected devices and rapid adoption of automation in homes and industries are also expected to bolster the demand for 5G equipment across the study period. On the contrary, compatibility issues, spectrum allocation concerns, high costs of advanced 5G equipment, and cybersecurity concerns are slated to slow down the growth potential for companies in the long run.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Traditional Macrocell
Fastest Growth
Massive MIMO
Growth Rate
14.5% CAGR
Global 5G Equipment Market ($ Bn)
Country Share for North America Region (%)
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5G Equipment Market Segmental Analysis
Global 5G Equipment Market is segmented by Component, Frequency Band, Deployment Model, Application, Vertical and Region. Based on Component, the market is segmented into Radio Access Network (RAN), Core Network, Transport Network. Based on Frequency Band, the market is segmented into Low-Band (Sub-1 GHz), Mid-Band (1-6 GHz), High-Band (Above 6 GHz). Based on Deployment Model, the market is segmented into Traditional Macrocell, Small Cell, Massive MIMO. Based on Application, the market is segmented into Enhanced Mobile Broadband (eMBB), Ultra-Reliable Low-Latency Communications (URLLC), Massive Machine-Type Communications (mMTC). Based on Vertical, the market is segmented into Consumer, Enterprise, Industrial. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
Analysis by Deployment Model
Increasing investments in the deployment of 5G networks around the world are projected to help traditional macrocell account for a major share in the future. Traditional macrocell acts as a 5G base station to provide radio coverage over a large area making it suitable for 5G deployment in large geographical areas. Faster response times and wireless deployment of traditional macrocells are expected to aid the dominant global 5G equipment market share of this segment in the future. Macrocells are also highly effective to use in areas with weak signal to enhance connectivity coverage over a large area.
On the other hand, the use of massive MIMO is expected to rise at a notable CAGR across the forecast period and beyond. Better signal strength, improved user experience, and enhanced spectral efficiency are some of the key benefits that are promoting the adoption of massive MIMO in the long run. Moreover, the use of multi-user massive MIMO allows companies to share and imrpove the overall resource utilization to boost revenue generation. Reduced interference and low risk of signal loss are also key factors that are anticipated to bolster the demand for massive MIMO deployment over the coming years.
Analysis by Vertical
Consumer segment is forecasted to account for a prominent chunk of the global 5G equipment market share going forward. Rapidly increasing sales of smartphones and consumer electronics requiring high speed connectivity and data transfer speeds are expected to help cement the dominance of this segment. Growing demand for high-speed data among consumers and rising disposable income are also expected to indirectly help this segment bring in the most revenue for 5G equipment providers going forward. Extensive use of 5G networks in automotive, smart city, and remote monitoring applications is also expected to bolster revenue generation via this segment in the future.
On the other hand, the demand for 5G equipment in the industrial segment is slated to rise at a notable pace in the long run. Rapid surge in adoption of automation in industrial settings around the world owing to the Industry 4.0 trend is slated to help create new opportunities via this segment. Growing demand for remote monitoring, autonomous robots, and connected devices and sensors in industrial applications is providing lucrative business scope for 5G equipment suppliers. Moreover, the adoption of smart manufacturing technologies such as digital twins and need for real-time analytics are also slated to bolster the sales of 5G equipment in the future.
Global 5G Equipment Market By Deployment Model
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5G Equipment Market Regional Insights
North America is forecasted to account for a substantial share of the global 5G equipment industry going forward. The presence of leading 5G technology providers, high availability of 5G devices, and rising demand for better data transfer speeds from consumers are helping this region hold sway over others. Rapidly increasing spending on launching new 5G networks and improving internet connectivity are slated to help boost the demand for 5G equipment over the coming years. The United States and Canada are slated to emerge as the most opportune markets for 5G equipment vendors focusing on making a mark in this region through 2031 and beyond.
High investments of telecommunication companies to expand their 5G networks in the Asia Pacific region are helping it emerge as the fastest expanding regional market. Launch of 5G networks in multiple Asian countries, presence of leading 5G equipment providers, and supportive government initiatives offer new opportunities in this region. Japan, Taiwan, Hong Kong, and China are slated to be the most opportune markets for 5G equipment suppliers in the Asia Pacific. Growing internet penetration and smartphone use in India is also expected to boost sales of 5G equipment over the coming years.
Global 5G Equipment Market By Region
- Largest
- Fastest
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5G Equipment Market Dynamics
5G Equipment Market Drivers
High Investments in 5G Infrastructure Development
-
Rapidly increasing digital transformation is bolstering the importance of low latency and high bandwidth networks around the world. 5G technology makes all of this accessible and this is why investments in 5G network infrastructure development are rising at a rapid pace thereby creating new opportunities for global 5G equipment market growth in the future.
Surge in Use of IoT and Connected Devices
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Increasing use of advanced Internet of Things (IoT) technologies and connected devices is forecasted to boost the sales of 5G equipment over the coming years. 5G equipment plays a critical role in supporting the connectivity demands of these IoT ecosystems used in smart homes, cities, and industrial applications with its enhanced capacity and reliability.
5G Equipment Market Restraints
Spectrum Allocation Issues
-
The limited availability of spectrum for purchase and delays in regulatory approvals can impede the rollout of 5G networks from communication providers in the future. Competitive bidding for spectrum licenses also inflates the cost of purchase for network operators resulting in higher investments thereby negatively impacting 5G equipment demand.
Compatibility with Legacy Systems
-
Transitioning from 4G to 5G requires extensive network upgrades, which can be challenging for operators owing to the novel nature of 5G technology. Ensuring compatibility between new 5G equipment and existing infrastructure can incur additional costs and even require technical expertise to ensure proper compatibility.
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5G Equipment Market Competitive Landscape
5G equipment companies are projected to focus on launching new hardware and services to make 5G connectivity more accessible and affordable for all users. Targeting the developing regions with growing need for internet connectivity is expected to provide lucrative opportunities for 5G equipment providers in the long run. Ensuring compatibility with legacy infrastructure should also be a prime focus of all companies involved in this market.
Top Player’s Company Profiles
- Airspan Networks
- Cisco Systems Inc.
- CommScope
- Fujitsu Limited
- Huawei Technologies Co. Ltd.
- NEC Corporation
- Nokia Corporation
- Qualcomm Inc.
- Samsung Electronics Co. Ltd.
- Telefonaktiebolaget LM Ericsson
- ZTE Corporation
- Ericsson
- Verizon Vodafone Limited
- Qorvo INC.
- HTC Corporation
- Intel Corporation
- Analog Devices INC.
- SK TELECOM CO. LTD.
- Ceragon Networks
- Ciena Corporation
- Juniper Networks
Recent Developments
- In December 2024, Nokia, a leading Finnish multinational telecommunications giant announced the launch of world’s first 5G 360° camera for industrial applications. The new camera offers an impressive resolution of 8K and spatial audio with 5G, Wi-Fi, and Ethernet connectivity capabilities.
- In September 2024, Vodafone Idea, a leading telecommunications provider based in India announced that it had signed a USD 3.6 billion deal with Nokia, Ericsson & Samsung. The deal is to supply 4G and 5G equipment to Vodafone Idea for 3 years as it focuses on launching 5G networks and expand its business scope.
- In October 2024, HFCL, a renowned Indian technology company announced the launch of two new unlicensed band radios for 4G/5G backhauling and point-to-multipoint connectivity. The newly launched solutions also claimed to have better efficiency and lower latency.
5G Equipment Key Market Trends
- Use of Open RAN Technology: 5G equipment companies can focus on utilizing Open RAN technology to maximize their business scope as it improves the scope of interoperability of 5G equipment from different operators and vendors. Focusing on this 5G equipment market trend can help companies reduce costs, increase competition, and drive innovation across the study period and beyond.
- Demand for Private 5G Networks: 5G equipment providers can focus on deployment of private 5G networks for enterprises across industries such as manufacturing, healthcare, and logistics. These private 5G networks provide secure, high-speed, and low-latency communication. Companies can develop specialized 5G equipment to maximize their revenue generation potential via this trend in the long run.
5G Equipment Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, rising investments in expansion of 5G networks around the world and a growing use of connected devices are estimated to be key factors to drive the global 5G equipment market outlook in the future. However, spectrum allocation issues and compatibility with legacy systems are expected to impede 5G equipment demand over the coming years. North America is estimated to spearhead the global 5G equipment demand outlook owing to rising deployment of high-speed 5G commercial networks in this region. Use of Open RAN technology and deployment of private 5G networks are slated to offer new business scope for companies in the long run.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 6.42 billion |
| Market size value in 2031 | USD 21.73 billion |
| Growth Rate | 14.51% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on 5G Equipment Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on 5G Equipment Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the 5G Equipment Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the 5G Equipment Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the 5G Equipment Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the 5G Equipment Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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