The market for 5G network equipment was valued at over US$ 1.6 billion in 2020, and, according to the findings of a recently updated market research analysis by Persistence Market Research, it is anticipated to rise at a CAGR of more than 55% by the forecast year of 2031.
Innovative features including higher bandwidth, increased 5G spectrum capacity, speed enhancements, and other capabilities are built into 5G network equipment. Over the upcoming years, market expansion will be driven by the dependability of such features.
5G network equipment offers various benefits such as easy setup and assembly, increased speed and bandwidth, as well as improved user performance, efficiency, and workflow. Huge adoption of advanced applications such as augmented reality, Internet of things, autonomous vehicles, and various technological enhancements is expected to result in steady demand growth for 5G network equipment.
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Key Takeaways from Market Study
The South Asia & Pacific region is expected to create lucrative growth opportunities for players in the market, due to rise in digital IT infrastructure and shifting focus toward digital technologies in the region.
Growing trend of cost-effective 5G network equipment along with technological advancements is creating new growth opportunities for end users.
Key players in the market are focusing on acquisitions to complement their product portfolios, so as to cater to the needs of a variety of customers. Market participants are also focusing on providing products directly to end users to improve direct customer relations.
The market in the U.S. is projected to expand at a CAGR of 47% through 2031, while that in Germany at close to 50%.
Market growth in China, Japan, and India is expected to be much higher, at around 58.6%, 63.5%, and 75.1%, respectively.
“Rise in demand for 5G networks and effective utilization of cloud-RAN technology in order to deploy 5G network technology will propel demand growth of 5G network equipment,” says a Persistence Market Research analyst.
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Technology Advancements Creating New Growth Opportunities
Continuous developments and implementation of new technologies/products such as 5G technology and wireless technologies in 5G network equipment are creating opportunities for market players.
New 5G network equipment standards enable higher performance and promise convenience for users, as well as simplicity for provider and manufacturers. Advantages such as lower latency in 5G, growth in mobile data traffic, and growing adoption of virtual networking architecture in telecommunications are factors driving sales of 5G network equipment.
Increasing smartphone adoption and developing technology-friendly nature of the population in the Middle East, Africa, and Latin America regions, put forward a lucrative market for telecom infrastructure providers, which is largely untapped. With an effort to overcome the barriers to establish strong business alliances, a profitable business opportunity can emerge from these regions.
Find More Valuable Insights
Persistence Market Research puts forward an unbiased analysis of the global market for 5G network equipment market, providing historical demand data (2016-2020) and forecast statistics for the period 2021-2031.
To understand the opportunities in the market, it has been segmented on the basis of products (small cells, AAU (active antenna units), BBU (baseband units), energy supply equipment, macro cells, RRU (remote radio units),RF filters, phase shifters, and others) and end use (commercial, industrial, government & defense, and residential), across major regions of the world (North America, Latin America, Europe, East Asia, South Asia & Pacific, and MEA).
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