Market Overview

The global 5G equipment market size was valued at USD 23.4 Billion in 2024 and is expected to reach USD 277.0 Billion by 2033. The market is forecasted to grow at a CAGR of 30.01% during the 2025-2033 period. Growth is driven by increasing data-intensive applications, low latency requirements in fields like autonomous vehicles, remote surgery, and augmented reality, and rising adoption of IoT devices. North America currently holds the largest market share due to a robust technological ecosystem and significant manufacturers.

Study Assumption Years

  • Base Year: 2024
  • Historical Years: 2019-2024
  • Forecast Period: 2025-2033

5G Equipment Market Key Takeaways

  • Current Market Size: USD 23.4 Billion in 2024
  • CAGR: 30.01% (2025-2033)
  • Forecast Period: 2025-2033
  • The market is witnessing robust growth fueled by increased data usage and smart city initiatives.
  • Technological advancements in 5G equipment improve efficiency, lower energy consumption, and enhance performance.
  • Applications span telecommunications, automotive, healthcare, manufacturing, and entertainment industries.
  • Geographically, North America leads with well-developed telecommunications infrastructure; Asia Pacific is a fast-growing region.
  • Challenges include security concerns; opportunities exist in sustainable and cost-effective 5G solutions.

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Market Growth Factors

There are several factors driving the growth of 5G equipment including the increasing popularity of data-intensive applications and smartphones, tablets and other connected devices, as well as the growing demand for high definition video streaming, cloud applications, and online gaming that require higher bandwidth and connectivity. Likewise, remote working, online education, and telemedicine require low-latency connectivity.

The low latency of 5G enables many real-time applications such as autonomous vehicles, remote surgery, and augmented reality. The virtually instantaneous communication between vehicles and infrastructure allows for increased safety and efficiency for autonomous vehicles. Surgeons are enabled to perform with remote telemetry and little time delay using augmented and virtual reality. In the financial and algorithmic trading industries, low latency allows for high-frequency trading and reduces the chance of loss.

The growing Internet of Things (IoT) devices from smart homes, wearable devices, industrial sensors and smart city infrastructure are anticipated to drive the market growth. 5G is intended to support massive connections with high capacity and low power consumption, making it ideal for IoT devices. Because of the huge amounts of data that IoT generates and that need to be analyzed, 5G is the leading technology for industrial and consumer IoT use cases.

Market Segmentation

By Technology:

  • Network Function Virtualization (NFV): NFV virtualizes traditional hardware network functions, providing flexibility, scalability, and reduced reliance on specialized hardware, representing the largest market share.
  • Software Defined Networking (SDN): SDN separates control and data planes for centralized network management, enabling dynamic resource allocation and optimization.
  • Multi-access Edge Computing (MEC): MEC extends cloud capabilities to the network edge, crucial for low-latency applications like AR, autonomous vehicles, and IoT by enabling real-time processing.

By Equipment:

  • Macrocell: Large-scale cellular base stations covering wide geographic areas, essential for outdoor 5G services and high-density user support, holding the largest market share.
  • Small Cell: Compact, low-power base stations deployed for localized coverage and capacity enhancement in urban, indoor, and high-user-density environments.

By Architecture:

  • 5G Standalone (NR + Core): Fully independent 5G networks with dedicated 5G radio and core, offering low latency, increased capacity, and broad use cases, representing the largest segment.
  • 5G NR Non-Standalone (LTE Combined): Combines 5G NR with existing LTE infrastructure, providing enhanced broadband and faster 5G adoption.

By Frequency:

  • Sub 6 GHz: Frequencies below 6 GHz used for balanced coverage and capacity in urban and suburban areas, constituting the largest segment.
  • Above 6 GHz: Millimeter wave bands with high data speeds but limited range, suited for dense urban environments and ultra-high-speed applications.

By Application:

  • Automotive: Supports connected vehicles, autonomous driving, and safety systems via low-latency communication.
  • Consumer Electronics: Includes smartphones, tablets, smart TVs, and wearables, delivering faster downloads and enhanced IoT connectivity, holding the largest market share.
  • Commercial: Enhances organizational connectivity, productivity, and supports private 5G networks.
  • Industrial: Facilitates automation, remote monitoring, robotics, and Industrial IoT connectivity in manufacturing, logistics, and healthcare.

Regional Insights

North America leads the global 5G equipment market due to its advanced telecommunications infrastructure and concentration of major manufacturers and operators. Favorable government initiatives and high adoption rates of digital and IoT services reinforce this dominance. Asia Pacific is rapidly growing, driven by investments in 5G infrastructure and rising demand for reliable high-speed connectivity. Europe, Latin America, and Middle East & Africa hold significant but smaller market shares.

Recent Developments & News

In October 2024, T-Mobile launched "5G on Demand," a portable 5G private network and services solution including installation, teardown, and management. In September 2024, Vodafone Idea Limited awarded a three-year contract to Nokia, aimed at modernizing and expanding its 4G network and deploying Nokia’s 5G AirScale portfolio.

Key Players

  • Airspan Networks
  • Cisco Systems Inc
  • CommScope
  • Fujitsu Limited
  • Huawei Technologies Co. Ltd.
  • NEC Corporation (AT&T Inc.)
  • Nokia Corporation
  • Qualcomm Inc.
  • Samsung Electronics Co. Ltd.
  • Telefonaktiebolaget LM Ericsson
  • ZTE Corporation

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