Global 5G Equipment Market Size, Share, Growth Analysis, By Type(SDN, NFV), By Application(Automotive, Commercial) - Industry Forecast 2024-2031

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.