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5G Testing Market Poised for Exponential Growth, Forecasted to Surpass $1.41 Billion by 2030
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With a projected CAGR of 12.4% from 2023 to 2030, the global 5G testing market is anticipated to soar to a staggering $1.41 billion by the end of the forecast period. This robust growth is underpinned by several factors, including the rapid expansion of the 5G market, escalating demand for vulnerability assessment of 5G devices, and the advent of favorable initiatives for 5G test services. Moreover, the standardization of 5G and the emphasis on applications such as enhanced mobile broadband (eMBB) are expected to present lucrative opportunities for market players. However, the scarcity of skilled labor resources poses a notable challenge to market expansion.
The comprehensive report delves into the segmentation of the global 5G testing market based on offering, application, end-user, and geography. Through an in-depth analysis, it evaluates industry competitors and scrutinizes regional and country-level markets.
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Key players profiled in the report include ANRITSU CORPORATION, Artiza Networks, Inc., EXFO Inc., PCTEL, Inc., Intertek Group plc, Keysight Technologies, Inc., MACOM Technologies Solutions Holdings, Inc., Rohde & Schwarz GmbH & Co. KG, Teradyne Inc., VIAVI Solutions Inc., Telefonaktiebolaget LM Ericsson, Trex Enterprises Corporation, Siklu Communications, Ltd., GL communications Inc., and Innowireless Co., Ltd.
The global 5G testing market is segmented into equipment, software, and outsourced services based on offering. In 2023, the equipment segment is expected to dominate the market, driven by the emergence of 5G technologies, minimal business risk factors, and heightened network traffic. Deployment of 5G testing equipment plays a pivotal role in averting potential infrastructure delays and issues, while also enabling telecom service providers to analyze system scenarios through network analytics.
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Application-wise, 5G small cell testing is anticipated to hold the largest market share in 2023, fueled by the escalating demand for high-speed mobile data connectivity. The deployment of 5G small cell networks is witnessing a surge across industrial, enterprise, and residential sectors, catering to the burgeoning mobile data traffic worldwide.
End-user segmentation includes telecom equipment manufacturers, TIC service providers, telecom service providers, government, and other end-users. In 2023, telecom equipment manufacturers are expected to dominate the market, leveraging 5G testing equipment to ensure adherence to international standards and deliver superior quality broadband services.
Geographically, North America is poised to lead the global 5G testing market in 2023, driven by the rapid deployment of 5G network infrastructure and the early adoption of 5G testing equipment by major network service providers.
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