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 News

  • 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.
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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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Global 5G Equipment Market

Report ID: SQMIG45A2276