NEWARK, Del, Jan. 24, 2024 (GLOBE NEWSWIRE) -- The global 5G testing market is estimated at nearly US$ 3.6 billion. The market research report hints the year-on-year growth in demand for 5G testing equipment and services is likely to be 8.2% CAGR through 2034. The research report further forecasts the worldwide 5G testing industry value to reach US$ 7.8 billion by 2034 end.
The 5G testing market valuation was assessed to be around US$ 2.1 billion in 2019. The market expanded with a robust CAGR of 11.4% during the historical period. In congruence with these numbers, the worth of the market in 2023 was figured out to be around US$ 3.2 billion.
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Key Takeaways from the 5G Testing Market Report:
- The United States, with leading 5G testing service providers, dominates the global market and is expected to advance further at 8.4% CAGR through 2034.
- In Europe, the United Kingdom is currently the leading market for 5G network testing solutions and is likely to progress at 8.6% CAGR through 2034.
- China, the pioneer of 5G technology in Asia, is expected to witness an expansion of its regional market at 9.2% CAGR between 2024 and 2034.
- Japan follows China in the 5G testing equipment and solution market and is projected to follow a higher CAGR of 9.3% through the projected years.
- South Korea is growing remarkably in 5G testing services in Asia currently, with an estimated CAGR of 9.5% till 2034.
"The 5G testing market is witnessing significant growth driven by the rapid adoption of 5G technology globally. As the demand for high-speed connectivity and low-latency communication intensifies, businesses and telecommunications operators invest in robust testing solutions to ensure the seamless deployment of 5G networks. Our findings indicate a burgeoning market with diverse opportunities for key players to innovate and meet the evolving testing requirements within the dynamic landscape of 5G technology." - says Sudip Saha, Managing Director and Co-Founder at Future Market Insights.
Scope of Report:
| Attribute | Details | |
| Estimated Market Size (2024) | US$ 3.6 billion | |
| Projected Market Size (2034) | US$ 7.8 billion | |
| Anticipated Growth Rate (2024 to 2034) | 8.2 % | |
| Forecast Period | 2024 to 2034 | |
| Historical Data Available for | 2019 to 2023 | |
| Market Analysis | US$ million or billion for Value and Units for Volume | |
| Key Regions Covered | North America, Latin America, Europe, the Middle East & Africa (MEA), East Asia, South Asia and Oceania | |
| Key Countries Covered | United States, Canada, Brazil, Mexico, Germany, Spain, Italy, France, United Kingdom, Russia, China, India, Australia & New Zealand, GCC Countries, and South Africa | |
| Key Segments Covered | By Offering, By End Use, and By Region | |
| Key Companies Profiled |
| |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives | |
| Customization & Pricing | Available upon Request | |
Competitive Landscape for the 5G Testing Market Participants:
- The market is highly fragmented as numerous players have cropped up with the 5G network devices and services expansion in the last few years. However, the 5G testing equipment segment is relatively consolidated as a few leading players have the capacity and capital to keep up with the market trends.
- The leading 5G testing equipment manufacturers are putting a lot of effort into advancing the technology to remain competitive with the fast-evolving cellular network technologies. To secure their position, new market players are collaborating and partnering with 5G technology research and development institutes.
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Recent Developments by the 5G Testing Industry Players:
In May 2023, Tektronix Incorporation introduced the Double Pulse Test solution called WBGDPT to measure wide bandgap devices repeatedly and autonomously. Tektronix is a global supplier of test and measurement solutions, and the WBGPTD system is aimed at supporting significant developments in solar energy, electric cars, and industrial controls.
Anritsu Corp. and Artiza Networks Company teamed up in March 2023 to provide an Open RAN test solution to facilitate multi-vendor sourcing. The Open RAN idea leverages network point standards and the ongoing development of AI applications as a source of business opportunities.
5G Testing Market Segmentation:
By Offering:
- Hardware
- Services
By End-use Industries:
- IDMs & ODMs
- Telecom Equipment Manufacturers
- Telecom Service Providers
- Other End-use Industries
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia and the Pacific
- The Middle East and Africa (MEA)
Authored By:
Sudip Saha is the managing director and co-founder at Future Market Insights, an award-winning market research and consulting firm. Sudip is committed to shaping the market research industry with credible solutions and constantly makes a buzz in the media with his thought leadership. His vast experience in market research and project management across verticals in APAC, EMEA, and the Americas reflects his growth-oriented approach to clients.
He is a strong believer and proponent of innovation-based solutions, emphasizing customized solutions to meet one client's requirements at a time. His foresightedness and visionary approach recently got him recognized as the ‘Global Icon in Business Consulting’ at the ET Inspiring Leaders Awards 2022.
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