5G Network Equipment Market Predicted to Grow at a CAGR of 18.4% from 2023 to 2033

By the end of 2033, it is anticipated that the market for 5G network equipment will have increased to US$ 17,456.1 Mn from its 2022 valuation of US$ 2,732.2 Mn. In 2023, the market for 5G network equipment is anticipated to be worth US$3,224.2 Mn. , with a CAGR of 18.4% expected from 2023 to 2033.

5G will act as the missing piece in delivering a seamless user experience, transforming how telephony, computing, and IoT is delivered and experienced by end users. It does this by connecting various devices, technologies, and communication ways.

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The 5G network equipment market refers to the market for hardware and software products that are used to build and operate 5G wireless networks. This market is expected to be a significant growth area in the coming years, as demand for high-speed, low-latency wireless connectivity increases.

The market for 5G network equipment is expected to be driven by a number of factors, including the increasing demand for data-intensive applications, the proliferation of internet of things (IoT) devices, and the growing demand for enhanced mobile broadband services. Some of the key players in the 5G network equipment market include Ericsson, Huawei, Nokia, Samsung, and ZTE.

Key Takeaways from Market Study

• The South Asia & Pacific region is expected to create lucrative growth opportunities for players in the market, due to rise in digital IT infrastructure and shifting focus toward digital technologies in the region.
• Growing trend of cost-effective 5G network equipment along with technological advancements is creating new growth opportunities for end users.
• Key players in the market are focusing on acquisitions to complement their product portfolios, so as to cater to the needs of a variety of customers. Market participants are also focusing on providing products directly to end users to improve direct customer relations.
• The market in the U.S. is projected to expand at a CAGR of 47% through 2031, while that in Germany at close to 50%.
• Market growth in China, Japan, and India is expected to be much higher, at around 58.6%, 63.5%, and 75.1%, respectively.

"Rise in demand for 5G networks and effective utilization of cloud-RAN technology in order to deploy 5G network technology will propel demand growth of 5G network equipment," says a Persistence Market Research analyst.

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Key Companies Profiled

ZTE Corporation
Nokia
Ericsson AB
Cisco Systems, Inc.
CommScope
Airspan Networks, Inc.
Equinix, Inc.
Qorvo, Inc.

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Expert analysis, actionable insights, and strategic recommendations - the Electronics, Semiconductor, and ICT team at Persistence Market Research helps clients from all over the globe with their unique business intelligence needs. With a repository of over 500 reports on electronics, semiconductors, and ICT, of which, 100+ reports are specific for ICT, the team provides end-to-end research and analysis on regional trends, drivers for market growth, and research development efforts in the electronics, semiconductor, and ICT industry.

This release was published on openPR.