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

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. 

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. 

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. 

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.