Global 5G Equipment Market

5G Equipment Market Size, Share, Growth Analysis, By Type(SDN, NFV, and MEC), By Application(Automotive, Commercial, Consumer Electronics, Manufacturing), By Region - Industry Forecast 2024-2031


Report ID: SQMIG45A2276 | Region: Global | Published Date: April, 2024
Pages: 199 |Tables: 65 |Figures: 72

5G Equipment Market Insights

Global 5G Equipment Market size was valued at USD 6.4 Billion in 2022 and is poised to grow from USD 7.44 Billion in 2023 to USD 21.99 Billion by 2031, growing at a CAGR of 14.5% in the forecast period (2024-2031).

Increasing adoption of connectivity, digital applications and wearable technologies is expected to drive growth of the market. Furthermore, existing support infrastructure including modems, towers, and other support systems a the upgrade will create greater opportunities for new players who are expected to adopt 5G technologies get positive signals in many local markets around the world.

Major chipmakers are also focusing on developing 5G device components to increase the market penetration of the devices. In this chipset vendors are competing in volume-driven markets as they introduce more models for mass deployment. In May last year, MediaTek launched the Dimensity 1050 mm (about 3.44 ft) Wave SoC and related accessories to highlight 5G connectivity across devices.

Additionally, emerging applications, business models, and falling device costs are driving the adoption of IoT, resulting in globally connected devices and endpoints offering 5G massive machine-type communication (mMTC), they are ready to support tens of billions of network-enabled devices up to connect you wirelessly. Modern communication systems already serve several MTC applications. However, the characteristic characteristics of mMTC, namely the number of devices and smaller payload sizes, require new designs and techniques 5G allows a density of around one million devices per square kilometre.

Market Snapshot - 2024-2031

Global Market Size

USD 6.4 Billion

Largest Segment

SDN

Fastest Growth

NFV

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

Based on type, the global 5G equipment market is divided into SDN, NFV, and MEC. Based on application, the global market is segmented into automotive, commercial, consumer electronics, manufacturing, and others. Based on region, the global market is bifurcated into North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa.

Analysis by Type

SDN or software-defined networking is the dominating segment in the market, an essential part of the overall 5G infrastructure and is particularly recognized to achieve scalability and agility. Its main role is to create architecture for network programmability, which helps create different network hierarchies. Simply put, SDN is direct control of the entire network using its software entity called ‘controller’, shifting the focus away from hardware-based operations.

 

One of the main reasons for the adoption of this technology is the high cost of 5G hardware devices. As network infrastructure expands, the demand for specific network equipment also increases, increasing overall operating costs. According to our forecast, total capex costs will increase from 60% by 2019 to 90% by 2025. Also, these costs are estimated to vary according to geographical variation. The SDN model will help drive the overall network performance high by providing scalability with high performance.

NFV segment is the fastest growing segment which enables network operators to virtualize network functions, such as routing, firewalls and load balancing, which were traditionally dedicated hardware appliances. This allows for rapid deployment and scaling of critical network services for dynamic needs of 5G networks. By virtualizing network functions, NFV reduces reliance on expensive proprietary hardware. Instead, it uses standard off-the-shelf hardware to reduce the cost of capital (CapEx) for network operators. Additionally, NFV facilitates infrastructure efficiency, allowing operators to allocate infrastructure based on demand, further improving cost efficiencies.

Analysis by Application

The automotive industry is the dominant segment which uses 5G technology for a variety of applications, including connected cars, autonomous driving, vehicle-to-vehicle (V2V) and vehicle-to-infrastructure (V2I) connectivity 5G provides seamless communication, period self-internal data exchange and development of safety features in vehicle systems. It supports features such as Advanced Driver Assistance Systems (ADAS), vehicle telecommunications, and in-car entertainment, making vehicles smarter and safer.

 

The commercial is the fastest growing segment. There are companies of all sizes that are using 5G technology to improve connectivity, productivity and personal experiences. 5G enables faster and more reliable data transfer for organizations, supporting applications such as video conferencing, cloud computing, and remote work. It also facilitates the deployment of private 5G networks in commercial environments for enhanced security and tailored connectivity solutions.

Global 5G Equipment Market By Type (%), 2022 (%)

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5G Equipment Market Regional Insights

North America is the dominant region in the market. Service providers in the region have already launched commercial 5G services with a focus on mobile broadband. The introduction of 5G devices that support all three spectrum bands will accelerate the deployment of the technology in the region. Currently, 5G services are bundled with 4G services or handed over from 5G to 4G when a customer moves from an area with 5G services to an area without. According to the Ericsson Mobility Report 2021, about 64 million 5G subscriptions were added in 2021 because migration from 4G to 5G subscriptions increased significantly, 5G subscriptions are expected to reach 250 million in the current year end with 400 million by 2027, which is 100 percent of 90 phone subscriptions.

Similarly, the report also states that North America experienced the strongest growth in fixed wireless access (FWA) rates, with nearly 60% of all service providers surveyed offering FWA Such local launches provide infrastructure support for increased 5G deployment, sufficient locations in North America for new users they receive.

In the Asia Pacific region, China, Japan, South Korea and India have some of the world’s largest and fastest growing countries and these countries have huge demand for 5G technology to support their growing populations, digital infrastructure and expanding services. Many Asia-Pacific countries are leading the way in 5G deployment and adoption. For example, South Korea was one of the first countries to deploy commercial 5G services, while China has aggressively deployed 5G infrastructure in cities and major regions This rapid adoption has raised demand for 5G equipment.

Global 5G Equipment Market By Geography, 2024-2031
  • Largest
  • Fastest

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5G Equipment Market Dynamics

Drivers

Growing Utilization of Data-intensive Applications

  • Increasing demand for 5G devices due to high data-intensive applications is driving the market growth. Accordingly, the increasing use of connected devices such as smartphones and tablets are fueling the growth of the market. Additionally, individuals and organizations rely on data-driven services. In addition to this, high-quality video streaming, cloud-based applications and online sports all require sufficient bandwidth. Additionally, the increasing need for improved and faster connectivity due to increasing remote work culture, online learning and telemedicine for better market outlook. Furthermore, 5G can provide higher data rates and latency output ground enabling users to achieve smooth and efficient connectivity to their devices and applications. The increasing adoption of 5G devices in interested organizations contributes to the market's growth. Data-intensive applications running in the cloud require high-speed connectivity for optimal performance.

Increasing Adoption Of 5G Technology

  • The increasing adoption of 5G technology is driving the demand for 5G devices, driving growth of the market. The number of global 5G wireless connections grew by a whopping 76% between the end of 2021 and the end of 2022, reaching 1.05 billion According to the latest data from Omdia, there are 455 million new global 5G connections by 2022.
  • Global 5G network growth is expected to peak by 2024, with an estimated 2.23 billion connections. By the end of 2027, this number is expected to reach 5.9 billion. As more telecom companies upgrade their infrastructure to support 5G networks, the need for compatible equipment such as base stations, antennas, routers and switches increases.

Restraints

  • High Initial Investment

The large initial investment required for the 5G equipment market includes a variety of costs, including upgrading existing infrastructure, deploying new hardware, and implementing advanced technologies This significant financial commitment is often a barrier to entry for many companies. Additionally, the costs are broader than just purchasing equipment. They include costs associated with spectrum acquisition, regulatory compliance and talent acquisition to manage the complex 5G ecosystem.

 

Such investments require careful budgeting and can have a negative impact on the bottom line of telecommunication companies, especially smaller ones. In addition, uncertainty about the return on this investment makes decision-making more difficult. Consequently, although the potential benefits of 5G technology are enticing, reasonable up-front costs often require strategic planning. Wider adoption may be delayed until economic benefits become more apparent.

Technological Challenges Hampering Market Growth

  • 5G technology brings new technological challenges related to network infrastructure, networking, and integration with existing infrastructure. Network operators and equipment manufacturers must overcome these challenges to ensure smooth deployment and use of the 5G network.

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5G Equipment Market Competitive Landscape

The market players operating in the 5G equipment market are Cisco Systems, Inc., Samsung Electronics, NEC Corporation, Huawei Technologies Co., Ltd., AT&T Inc., Verizon Communication, Qualcomm Technologies, Telefonaktiebolaget LM Ericsson, ZTE Corporation, and Nokia Corporation. These major players have adopted various key development strategies such as business expansion, new product launches, and partnerships, which help to drive the growth of the 5G equipment market globally.

Top Player’s Company Profiles

  • 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
  • Ericsson
  • Verizon Vodafone Limited
  • Qorvo INC.
  • HTC Corporation Intel Corporation
  • Analog Devices INC.
  • SK TELECOM CO. LTD.

Recent Developments

  • In September 2022, HMD Global launched the new Nokia X30 5G smartphone and a few Nokia products at IFA 2022 in Berlin, Germany, featuring about a dozen 5G players.
  • In August 2022, Bharti Airtel (Airtel) signed 5G network agreements with Ericsson, Nokia and Samsung and announced 5G deployment by August 2022. Partnership with Samsung will provide it with 5G devices and solutions will be launched in 2022, as will old partners Nokia by Ericsson. The 5G partnership will closely follow a series of spectrum auctions conducted by the Department of Telecom in India, where Airtel bid and acquired 19867.8 MHz of spectrum in 900 MHz, 1800 MHz, 2100 MHz, 3300 MHz and 26 GHz frequencies.
  • In September 2022, Nokia and Telia Finland launched one of the first commercial 5G standalone (SA) networks with network slicing for Fixed Wireless Access (FWA) services. Telia will introduce 5G SA in its 5G Fixed Wireless Access (FWA) home broadband service and can start offering a range of broadband connections with guaranteed service levels to its customers in Finland. The solution will enable Telia to build on its existing platform, providing increased connectivity and capacity benefits for its customers through continuous implementation.

5G Equipment Key Market Trends

  • Advances in SDN and NFV Requirements: SDN and NFV represent transformational technologies that enable greater flexibility, scalability and efficiency in network management. With the advent of 5G networks of higher data speeds and lower latency, the need for an agile and programmable infrastructure becomes paramount SDN allows centralized control of network resources, and enables dynamic planning and customization is flexible to meet requirements. NFV supports this by virtualizing traditional network services and enabling administrators to deploy and manage network services more efficiently. As the 5G landscape evolves, the integration of SDN and NFV is increasingly important for delivering the variety and customization of services that 5G promises. 5G equipment market is driven by the need to seamlessly deliver and manage hardware and solutions that incorporate SDN and NFV. A faster, more flexible, more efficient 5G network will be used to meet the demands of digitally connected world.

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.

Increasing consumer demand for high-speed Internet, driven by streaming services, online gaming and remote work applications, is driving the uptake of 5G networks. The proliferation of IoT devices in various industries including construction, healthcare, transportation and smart cities is fueling the need for 5G connectivity to greatly support machine-to-machine communication and enable real-time data analytics. To boost economic growth, foster innovation and enhance digital connectivity, governments around the world are investing in the implementation and deployment of 5G infrastructure These initiatives include spectrum auctions, legislation flexibility and financial incentives to encourage network rollout. Infrastructure, including infrastructure upgrades and fiber deployment, optic networks, require significant investment. High costs associated with infrastructure deployment pose challenges to network operators and governments. The spectrum bands suitable for 5G deployment vary from region to region, and the availability of sufficient spectrum is critical for building an efficient 5G network. Spectrum allocation policy, regulatory framework, and spectrum sales could affect the speed and scale of 5G deployment.

Report Metric Details
Market size value in 2022 USD 6.4 Billion
Market size value in 2031 USD 21.99 Billion
Growth Rate 14.5%
Base year 2023
Forecast period 2024-2031
Forecast Unit (Value) USD Billion
Segments covered
  • Type
    • SDN, NFV, and MEC
  • Application
    • Automotive, Commercial, Consumer Electronics, Manufacturing, and Others
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
  • 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
  • Ericsson
  • Verizon Vodafone Limited
  • Qorvo INC.
  • HTC Corporation Intel Corporation
  • Analog Devices INC.
  • SK TELECOM CO. LTD.
Customization scope

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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
  • 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
  • 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
  • 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(%)

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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FAQs

5G Equipment Market size was valued at USD 6.4 Billion in 2022 and is poised to grow from USD 7.44 Billion in 2023 to USD 21.99 Billion by 2031, growing at a CAGR of 14.5% in the forecast period (2024-2031).

The market players operating in the 5G equipment market are Cisco Systems, Inc., Samsung Electronics, NEC Corporation, Huawei Technologies Co., Ltd., AT&T Inc., Verizon Communication, Qualcomm Technologies, Telefonaktiebolaget LM Ericsson, ZTE Corporation, and Nokia Corporation. These major players have adopted various key development strategies such as business expansion, new product launches, and partnerships, which help to drive the growth of the 5G equipment market globally. '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', 'Ericsson', 'Verizon Vodafone Limited', 'Qorvo INC.', 'HTC Corporation Intel Corporation', 'Analog Devices INC.', 'SK TELECOM CO. LTD.'

Increasing demand for 5G devices due to high data-intensive applications is driving the market growth. Accordingly, the increasing use of connected devices such as smartphones and tablets are fueling the growth of the market. Additionally, individuals and organizations rely on data-driven services. In addition to this, high-quality video streaming, cloud-based applications and online sports all require sufficient bandwidth. Additionally, the increasing need for improved and faster connectivity due to increasing remote work culture, online learning and telemedicine for better market outlook. Furthermore, 5G can provide higher data rates and latency output ground enabling users to achieve smooth and efficient connectivity to their devices and applications. The increasing adoption of 5G devices in interested organizations contributes to the market's growth. Data-intensive applications running in the cloud require high-speed connectivity for optimal performance.

Advances in SDN and NFV Requirements: SDN and NFV represent transformational technologies that enable greater flexibility, scalability and efficiency in network management. With the advent of 5G networks of higher data speeds and lower latency, the need for an agile and programmable infrastructure becomes paramount SDN allows centralized control of network resources, and enables dynamic planning and customization is flexible to meet requirements. NFV supports this by virtualizing traditional network services and enabling administrators to deploy and manage network services more efficiently. As the 5G landscape evolves, the integration of SDN and NFV is increasingly important for delivering the variety and customization of services that 5G promises. 5G equipment market is driven by the need to seamlessly deliver and manage hardware and solutions that incorporate SDN and NFV. A faster, more flexible, more efficient 5G network will be used to meet the demands of digitally connected world.

North America is the dominant region in the market. Service providers in the region have already launched commercial 5G services with a focus on mobile broadband. The introduction of 5G devices that support all three spectrum bands will accelerate the deployment of the technology in the region. Currently, 5G services are bundled with 4G services or handed over from 5G to 4G when a customer moves from an area with 5G services to an area without. According to the Ericsson Mobility Report 2021, about 64 million 5G subscriptions were added in 2021 because migration from 4G to 5G subscriptions increased significantly, 5G subscriptions are expected to reach 250 million in the current year end with 400 million by 2027, which is 100 percent of 90 phone subscriptions.

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