The global 5G infrastructure market size is anticipated to reach USD 95.88 billion by 2030, registering a CAGR of 22.9% from 2024 to 2030, according to a new report by Grand View Research, Inc. A surge in demand for 5G connections globally is vital in driving industry growth. The demand for a 5G network is high due to its ability to offer high-speed & low-latency internet connectivity. Businesses across the globe are increasingly focusing on leveraging the Internet of Things (IoT) ecosystem to optimize their operations and improve overall performance. IoT comprises a network of interconnected devices equipped with sensors, software, and network connectivity, enabling them to gather and share information.
The rapidly increasing number of Industrial Internet of Things (IIoT) devices is expected to generate massive demand for enhanced data connectivity. As a result, it is anticipated to boost the adoption of 5G services in industrial applications, which, in turn, is expected to spur market growth. Key market players are partnering to offer 5G solutions to consumers. For instance, in June 2023, Nokia and Virgin Media O2 extended their ongoing partnership by three years. In this deal, Nokia will continue to supply its RAN equipment from its AirScale portfolio. With this agreement, Virgin Media O2 will continue to offer improved connectivity to its customers in the UK. The COVID-19 pandemic significantly impacted the global economy and 5G infrastructure deployment.
Gather more insights about the market drivers, restrains and growth of the Global 5G Infrastructure Market
Lockdown measures in countries like the U.S., China, and India caused supply chain disruptions and delayed deployments of 5G infrastructure. Spectrum auctions for 5G frequencies were also postponed by telecom authorities and governments, including in the UK, France, Italy, and Spain. These delays further hampered the global rollout of next-generation network infrastructure, limiting the industry growth. Asia Pacific is expected to dominate the global industry over the forecast period owing to the rapid rollout of 5G in several countries of the region. In addition, the high demand for digital transformation across Asia Pacific will support the regional market growth.
5G Infrastructure Market Report Highlights
The hardware component segment dominated the market in 2023 owing to a significant rise in investments in deploying centralized RAN or 5G cloud across key countries, such as the U.S., the UK, China, and JapanThe private type segment dominated the market in 2023. The growing demand for enhanced security, low latency, and customized solutions from industries, such as manufacturing and healthcare, are driving the segment's growthThe sub-6 GHz spectrum segment dominated the market in 2023. The segment growth is attributed to the high focus on releasing sub-6 GHz frequency bands by federal governments across key countries to deliver high-speed data servicesThe standalone network architecture segment is expected to register the highest CAGR from 2024 to 2030. Growing investments in installing a standalone 5G network to deliver ultra-reliable low-latency connectivity for applications, such as connected vehicles, are estimated to drive segment growthIn terms of vertical, the industrial segment is expected to register a significant CAGR from 2024 to 2030 owing to the growing need to provide unified connectivity to several industrial sensors and collaborative robotsAsia Pacific dominated the global market in 2023. Favorable government initiatives and growing deployment & adoption of the 5G network in countries, such as South Korea, China, and India, are propelling the regional market growthIn February 2023, Fujitsu Ltd., a communication technology company, announced a new 5G vRAN solution that combined Fujitsu Ltd.'s virtualized DU (vDU) and virtualized CU (vCU) with NVIDIA's GPU technologyWith the new solution, Fujitsu Ltd. aims to support the worldwide expansion of open 5G networks in collaboration with telecom operators, such as NTT DOCOMO, which also facilitated the performance verification and evaluation tests for the solutionList of Key Players in the 5G Infrastructure Market
Huawei Technologies Co., Ltd.Samsung Electronics Co., Ltd.Nokia CorporationTelefonaktiebolaget LM EricssonZTE CorporationNEC CorporationCisco Systems, Inc.Fujitsu LimitedCommScope Inc.Comba Telecom Systems Holdings Ltd.AltiostarAirspan NetworksCasa SystemsHewlett Packard Enterprise Development LPMavenirParallel WirelessJMA WirelessCeragonAviat Networks, Inc.Order a free sample PDF of the 5G Infrastructure Market Intelligence Study, published by Grand View Research.
