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

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.