Global 5G Equipment Market to Reach US$ 88.1 Billion by 2028, Stimulated by Rapid Emergence of Wireless Communication

July 03, 2023 | Technology & Media

According to the latest report by IMARC Group, titled “5G Equipment Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” the global 5G equipment market size reached US$ 12.9 Billion in 2022. 5G equipment refers to the hardware and infrastructure components required to support the implementation and operation of 5G networks. The equipment includes a range of devices and systems, such as base stations, antennas, routers, servers, and software-defined networks. It aims to provide faster data speeds, lower latency, and increased capacity compared to its predecessors. The equipment also incorporates fiber-optic cables to enable high-speed data transmission over long distances. This infrastructure upgrade helps overcome the limitations of previous wireless technologies and facilitates the delivery of ultra-fast connectivity and innovative services, including autonomous vehicles, smart cities, and Internet of Things (IoT) applications. It plays an important role in building and expanding 5G networks, enabling transformative experiences for individuals, industries, and society.  

Global 5G Equipment Market Trends:

The increasing demand for high-speed and reliable wireless communication networks is driving the global market. Moreover, the proliferation of bandwidth-intensive applications such as video streaming, virtual reality, augmented reality, and gaming is catalyzing the growth of the market. Besides, the rising adoption of Internet of Things (IoT) devices and smart technologies further supports the need for 5G equipment as the IoT ecosystem relies on efficient connectivity and massive device connectivity, which 5G networks can provide. Apart from this, the widespread adoption of the 5G equipment by various industries such as manufacturing, healthcare, transportation, and agriculture are creating a positive market outlook. Furthermore, governments and telecommunications companies worldwide are heavily investing in the deployment of 5G networks that aim to drive economic growth, enable digital transformation, and support emerging technologies such as autonomous vehicles and smart cities. This is also providing a boost to the market. Along with this, several major companies are constantly developing new solutions, such as advanced antennas, beamforming techniques, and network optimization algorithms, to enhance the performance and efficiency of 5G networks, thereby impacting the market favorably. Looking forward, the market value is projected to reach US$ 88.1 Billion by 2028, expanding at a CAGR of 36.2% during 2023-2028.    

Market Summary:

  • Based on the technology, the market has been segmented into network function virtualization (NFV), software defined networking (SDN), and multi-access edge computing (MEC). Currently, network function virtualization (NFV) represents the largest market segment.
  • On the basis of the equipment, the market has been divided into macrocell, smart cell, and others. Among these, macrocell exhibits a clear dominance in the market.
  • Based on the architecture, the market has been bifurcated into 5G standalone (NR + core) and 5G NR non-standalone (LTE combined). Among these, 5G Standalone (NR + Core) exhibits a clear dominance in the market.
  • On the basis of the frequency, the market has been categorized into sub 6GHz and above 6GHz. Among these, sub 6 GHz exhibits a clear dominance in the market.
  • Based on the application, the market has been segmented into automotive, consumer electronics, commercial, and industrial. Currently, consumer electronics represents the largest market segment.
  • Region-wise, the market has been bifurcated into North America (the United States and Canada), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Latin America (Brazil, Mexico, and others), and the Middle East and Africa. Among these, North America holds the leading position in the market.
  • The competitive landscape of the market has also been examined, with some of the key players being Airspan Networks, Cisco Systems Inc, CommScope, Fujitsu Limited, Huawei Technologies Co. Ltd., NEC Corporation (AT&T Inc.), Nokia Corporation, Qualcomm Inc., Samsung Electronics Co. Ltd., Telefonaktiebolaget LM Ericsson and ZTE Corporation.

Report Scope:

Report Features Details
Base Year of the Analysis 2022
Historical Period 2017-2022
Forecast Period 2023-2028
Units US$ Billion
Technologies Covered Network Function Virtualization (NFV), Software Defined Networking (SDN), Multi-access Edge Computing (MEC)
Equipments Covered Macrocell, Small Cell, Others
Architectures Covered 5G Standalone (NR + Core), 5G NR Non-Standalone (LTE Combined)
Frequencies Covered Sub 6 GHz, Above 6 GHz
Applications Covered Automotive, Consumer Electronics, Commercial, Industrial
Regions Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered Airspan Networks, Cisco Systems Inc, CommScope, Fujitsu Limited, Huawei Technologies Co. Ltd., NEC Corporation (AT&T Inc.), Nokia Corporation, Qualcomm Inc., Samsung Electronics Co. Ltd., Telefonaktiebolaget LM Ericsson, ZTE Corporation, etc.
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Global 5G Equipment Market to Reach US$ 88.1 Billion by 2028, Stimulated by Rapid Emergence of Wireless Communication
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