5G technology market size to grow by USD 128.46 billion between 2021 and 2026; Growth driven by increasing R&D and deployment of 5G - Technavio
NEW YORK , April 6, 2023 /PRNewswire/ -- The 5G technology market is estimated to register an incremental growth of USD 128.46 billion, accelerating at a CAGR of 69.34% between 2021 and 2026. The market is driven by the increasing R&D and deployment of 5G network. The market is witnessing significant investments in R&D, along with trend-setting innovations in 5G. For instance, in January 2020, Huawei completed 5G New Radio testing using a 2.6 GHz spectrum during the 5G trial organized by the IMT-2020 (5G) promotion group. The company's findings and understandings after the test completion are expected to further accelerate innovations in 5G technologies. Thus, the advent of 5G technology will compel vendors to develop wireless test equipment that can support the technology effectively. Besides, governments across the world are setting up committees to work on the roadmap for the 5G rollout. Such developments are driving the growth of the global 5G technology market. The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. Request sample report
5G Technology Market 2022-2026: Vendor Analysis
The global 5G technology market is fragmented with several vendors providing 5G technology services. Major players hold a significant share of the market. As the market is still in the nascent stage, enterprises are still in the planning stage of implementation. However, large vendors will benefit from economies of scale. This is expected to hamper the entry of new players into the market. Some of the key vendors covered in the report include:
Cisco Systems Inc. - The company offers 5G technology that unifies multivendor mobile solutions into an open, cloud-native architecture.
CommScope Inc. - The company offers 5G technology in industrial campus networks that makes it possible to deliver predictive maintenance of machines or necessary changes in the production process can be made online.
Huawei Technologies Co. Ltd. - The company offers 5G technology that provides solutions for commercial feasibility analysis, service development planning and design, product or offering design and GTM guidance, service operation strategy and guidance, value operation consulting, and operation optimization consulting.
Nokia Corp. - The company offers 5G technology that helps achieve more precise indoor and outdoor radio network planning using technologies such as multi-dimensional valuable area selection.
Accenture Plc
Dell Technologies Inc.
Deutsche Telekom AG
Fujitsu Ltd.
HCL Technologies Ltd.
Intel Corp.
Qualcomm Inc.
Samsung Electronics Co. Ltd.
Siemens AG
T Mobile US Inc.
Tech Mahindra Ltd.
Telefonaktiebolaget LM Ericsson
Telstra Corp. Ltd.
TietoEVRY Corp.
TIM S.p.A.
Viavi Solutions Inc.
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Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The report covers the following areas:
Strategic collaboration among market participants will emerge as a key trend in the market. Many governments and private organizations are collaborating with market vendors to accelerate the deployment of 5G technologies. For instance, in May 2020, IBM, Samsung, and M1 collaborated to start smart manufacturing trials to find and explore ways to improve 5G connectivity in robotic arms and smart devices on factory floors in Singapore. Similarly, in May 2020, Samsung and Hyundai joined hands to discuss a potential collaboration in electric cars. Such strategic collaborations among vendors and end-users are expected to have a positive impact on the growth of the market during the forecast period.
The market growth in the software segment will be significant during the forecast period. Software-defined networking (SDN) uses software-based controllers or application programming interfaces (APIs) to communicate with the hardware infrastructure and direct traffic on a network. It ensures faster and superior quality in addition to better security guarantees in comparison with preceding technologies. Such benefits are driving the growth of the segment.
End-user
Manufacturing
Automotive
Energy and Utilities
Others
The manufacturing industry is the major end-user in the market. The rising focus on improving efficiency, productivity, and financial performance throughout end-to-end manufacturing operations are driving the growth of the segment.
Geography
North America
Europe
APAC
South America
Middle East and Africa
North America will account for 46% of the market growth during the forecast period. The increasing adoption of wireless technologies in the US is the major factor driving the growth of the regional market. In addition, the increasing need for high-speed and high-bandwidth networks to support the flow of data across industries is fueling the growth of the 5G technology market in North America.
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5G Technology Market 2022-2026: Key Highlights
CAGR of the market during the forecast period 2022-2026
Detailed information on factors that will assist 5G technology market growth during the next five years
Estimation of the 5G technology market size and its contribution to the parent market
Predictions on upcoming trends and changes in consumer behavior
The growth of the 5G technology market
Analysis of the market's competitive landscape and detailed information on vendors
Comprehensive details of factors that will challenge the growth of 5G technology market vendors
The 5G MmWave technology market size is expected to increase to USD 674.1 million from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 31.8%. The market is segmented by application (wired/fiber connection replacement, cellular backhaul/fronthaul, and others) and geography (North America, Europe, APAC, Middle East and Africa, and South America).
The 5G testing equipment market is estimated to grow at a CAGR of 7.84% and the size of the market is forecasted to increase by USD 515.76 million between 2022 and 2027. The market is segmented by application (oscilloscopes, signal generators, signal analyzers, network analyzers, and others), end-user (telecom equipment manufacturers, original device manufacturers, and telecom service providers), and geography (North America, Europe, APAC, Middle East and Africa, and South America).
5G Technology Market Scope
Report Coverage
Details
Base year
2021
Forecast period
2022-2026
Growth momentum & CAGR
Accelerate at a CAGR of 69.34%
Market growth 2022-2026
USD 128.46 billion
Market structure
Fragmented
YoY growth 2021-2022(%)
67.81
Regional analysis
North America, Europe, APAC, South America, and Middle East and Africa
Performing market contribution
North America at 46%
Key countries
US, China, Japan, Germany, and UK
Competitive landscape
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks
Key companies profiled
Accenture Plc, Cisco Systems Inc., CommScope Inc., Dell Technologies Inc., Deutsche Telekom AG, Fujitsu Ltd., HCL Technologies Ltd., Huawei Technologies Co. Ltd., Intel Corp., Nokia Corp., Qualcomm Inc., Samsung Electronics Co. Ltd., Siemens AG, T Mobile US Inc., Tech Mahindra Ltd., Telefonaktiebolaget LM Ericsson, Telstra Corp. Ltd., TietoEVRY Corp., TIM S.p.A., and Viavi Solutions Inc.
Market dynamics
Parent market analysis, market growth inducers and obstacles, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market condition analysis for the forecast period.
Customization purview
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.
Customization purview
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.
Exhibit 141: Telefonaktiebolaget LM Ericsson - Overview
Exhibit 142: Telefonaktiebolaget LM Ericsson - Business segments
Exhibit 143: Telefonaktiebolaget LM Ericsson - Key news
Exhibit 144: Telefonaktiebolaget LM Ericsson - Key offerings
Exhibit 145: Telefonaktiebolaget LM Ericsson - Segment focus
11.11 Telstra Corp. Ltd.
Exhibit 146: Telstra Corp. Ltd. - Overview
Exhibit 147: Telstra Corp. Ltd. - Business segments
Exhibit 148: Telstra Corp. Ltd. - Key offerings
Exhibit 149: Telstra Corp. Ltd. - Segment focus
11.12 TIM S.p.A.
Exhibit 150: TIM S.p.A. - Overview
Exhibit 151: TIM S.p.A. - Business segments
Exhibit 152: TIM S.p.A. - Key offerings
Exhibit 153: TIM S.p.A. - Segment focus
12 Appendix
12.1 Scope of the report
12.2 Inclusions and exclusions checklist
Exhibit 154: Inclusions checklist
Exhibit 155: Exclusions checklist
12.3 Currency conversion rates for US$
Exhibit 156: Currency conversion rates for US$
12.4 Research methodology
Exhibit 157: Research methodology
Exhibit 158: Validation techniques employed for market sizing
Exhibit 159: Information sources
12.5 List of abbreviations
Exhibit 160: List of abbreviations
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Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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