PUBLISHER: Allied Market Research | PRODUCT CODE: 1414911
PUBLISHER: Allied Market Research | PRODUCT CODE: 1414911
According to a new report published by Allied Market Research, titled, "5G Equipment Market," The 5g equipment market was valued at $6.4 billion in 2022, and is estimated to reach $23.9 billion by 2032, growing at a CAGR of 14.5% from 2023 to 2032.
On the other hand, the 5G industry is preparing businesses to experience digital transformation with equipment manufacturers, playing a crucial role in developing high performance components to support reliable implementation. On the contrary, major challenges to be addressed by manufacturers include managing extreme thermal conditions within increasing smaller encapsulated components and delivering high performance at low power. These challenges can be overcome through the use of high-performance materials. Such factors are expected to provide the lucrative opportunities for the 5G equipment industry during the forecast period.
Factors such as increase in adoption of advanced technologies such as Internet of Things (IoT) across the globe and rise in digitalization, positively impact the growth of the 5G equipment market. In addition, rise in demand of 5G technology to enhance operation & productivity is anticipated to propel the growth of the market during the forecast period. Furthermore, increase in adoption of emerging technologies such as software-defined networking (SDN), network functions virtualization (NFV), and edge computing is anticipated to enhance the 5G equipment market growth in the upcoming years. However, security concern & costs budget and lack of standards hamper the 5G equipment market growth.
Furthermore, growth in deployment of virtualized software among enterprises including data center and service provider drives the growth of the market. In addition, growing internet penetration and rise in government initiatives are expected to provide lucrative growth opportunities for the 5G equipment market expansion.
The 5G equipment market is segmented into product, end-use, and region. By product, the market is segregated into macro cell, small cell, and others. By end-use, the market is classified into retail sector and non-retail sector. Region-wise, the 5G equipment market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The market players operating in the 5G equipment market are Cisco Systems, Inc., Samsung Electronics, NEC Corporation, Huawei Technologies Co., Ltd., AT&T Inc., Verizon Communication, Qualcomm Technologies, Telefonaktiebolaget LM Ericsson, ZTE Corporation, and Nokia Corporation. These major players have adopted various key development strategies such as business expansion, new product launches, and partnerships, which help to drive the growth of the 5G equipment market globally.
Key Benefits for Stakeholders
Additional benefits you will get with this purchase are:
Possible Customization with this report (with additional cost and timeline, please talk to the sales executive to know more)