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5G Device Testing Market Report 2024: Size, Share, Growth, Trends, Forecast, Competitive Landscape to 2033
5G Device Testing Market Report
According to The Business Research Company's, The 5g device testing market size has grown strongly in recent years. It will grow from $1.49 billion in 2023 to $1.63 billion in 2024 at a compound annual growth rate (CAGR) of 9.1%. The growth in the historic period can be attributed to growing consumer demand,network capacity, quality assurance, network optimization.
The 5g device testing market size is expected to see strong growth in the next few years. It will grow to $2.32 billion in 2028 at a compound annual growth rate (CAGR) of 9.3%. The growth in the forecast period can be attributed to expansion of internet of things (iot), network slicing, global expansion, wider adoption of 5g. Major trends in the forecast period include customized testing solutions, cybersecurity testing, advanced test automation, ai in testing.
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Market Drivers and Trends:
The increasing usage of IoT (Internet of Things) and connected devices is expected to propel the growth of the 5G device testing market going forward. IoT and connected devices refer to a network of physical objects, or things, which are embedded with sensors, software and other technologies to connect and exchange data over the internet. These connected devices can collect and share information, perform actions based on that data and communicate with each other and with central systems. 5G device testing often relies on IoT and connected devices to simulate real-world scenarios, collect data, ensure the functionality and performance of 5G-enabled devices and boost the credibility and market acceptance of IoT devices. For instance, in February 2022, according to the GSM Association, a UK-based non-profit organization, IoT connections will reach 23.3 billion globally by 2025, up from 15.1 billion in 2021. Therefore, the increasing usage of IoT and connected devices is driving the growth of the 5G device testing market.
Major companies operating in the 5G device testing market focus on innovating new technological products, such as one box tester, to sustain and attain a better position in the market. A one-box tester is a powerful test platform used for simplified device testing. It combines several testing capabilities into a single box, making complex test configurations for all 5G NR deployments more quickly and efficiently. For instance, in February 2022, Rohde & Schwarz USA Inc., a Germany-based telecommunications company, introduced the R&S CMX500 one-box tester, an innovative and powerful 5G test platform that simplifies device testing. It is a single, integrated platform that can assess all aspects of 5G devices, including RF, protocol and application layer testing. This makes it a more efficient and cost-effective solution than traditional ones requiring multiple testers. Moreover, the future-proof design supports high data rates and includes a user-friendly web-based graphical interface, making 5G testing simple and accessible for device manufacturers.
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Major Key Players of the Market:
ZTE Corporation, CommScope Holding Company Inc., Keysight Technologies, Intertek Group PLC, Teradyne Inc., Rohde & Schwarz GmbH & Company KG, National Instruments Corp., Viavi Solutions Inc., Trex Enterprise Corporation, NETGEAR Inc., NetScout Systems Inc., Tektronix Inc., Cohu Inc., Anritsu Corporation, MACOM Technology solutions, Spirent Communications PLC, InfoVista, LitePoint Corp., Teledyne LeCroy Inc., MPI Corporation, Artiza Networks Inc., JDS Uniphase Corporation, EXFO Inc., eMite, Accedian, GL Communications Inc., Narda Safety Test Solutions GmbH.
5G Device Testing Market 2024 Key Insights:
• The 5g device testing market is expected to grow to$2.32 billion in 2028 at a compound annual growth rate (CAGR) of 9.3%.
• Rising Adoption Of Iot And Connected Devices Energizes The 5G Device Testing Market
• Innovation In 5G Device Testing
• North America was the largest region in the 5G device testing market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period.
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