Hyderabad, Aug. 18, 2023 (GLOBE NEWSWIRE) -- According to a new market research report titled "5G Devices Market Report (2023-2028)," the market volume is estimated at 3 billion units in 2023. It is expected to register a CAGR of 61.76% during the forecast period.
5G devices are growing in popularity due to the growing adoption of digital applications and upgrading of existing infrastructure. The fifth generation of mobile network equipment refers to 5G. The devices include machines, objects, and gadgets.
Report Summary:
| Report Attribute | Details |
| Market Volume (2023) | 3 billion units |
| Market Volume (2028) | 33.24 billion units |
| CAGR (2023-2028) | 61.76% |
| Study Period | 2018-2028 |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
| Forecast Units | Volume (billion units) |
| Report Scope | Market Dynamics, Revenue Forecast and Segmentation, Competitive Landscape, and Recent Developments, Market Growth, Future Opportunities, and Trends |
| Key Market Drivers | The growth of emerging applications and business models. |
| The growing use of smartphones. |
Who are the Top Companies in the 5G Devices Market?
The market is moderately competitive, with established players who have made substantial investments in products and adopted partnerships to gain a competitive edge.
The significant players in the 5G devices market are,
- ZTE Corporation
- Cisco Systems Inc
- Nokia Corporation
- Huawei Technologies Co. Ltd
- Samsung Electronics Co. Ltd
- Xiaomi Corporation
- Motorola Mobility LLC (Lenovo Group Limited)
- BBK Electronics Corporation
- Keysight Technologies Inc.
Other Reports That Might Be of Your Interest:
- 5G Connections Market Report - The 5G connections market value is estimated at USD 106.64 billion in 2023. It is expected to reach USD 990.33 billion by 2028, registering a CAGR of 56.16% during the forecast period (2023-2028).
- 5G Market in Aviation Report - The 5G market in aviation size is estimated at USD 7.32 billion in 2023. It is expected to reach USD 10.02 billion by 2028, registering a CAGR of 6.49% during the forecast period (2023-2028).
Key Highlights from the 5G Devices Market Report:
Demand for Smartphones to Drive the Market
- The demand for ultra-high bandwidth, low latency, and massive connectivity are offering growth opportunities to the market.
- Various smartphone manufacturers are adopting strategic launches to cater to market demand. Samsung plans to launch more smartphones in India after massive sales of its 5G-enabled foldable devices.
North America to Register High Growth
- North American service providers are launching commercial 5G devices to focus on mobile broadband. 5G devices that support all three spectrums are enabling the early adoption of the technology in the region.
- Various companies are launching 5G connectivity in the region. Nokia extended its portfolio of user equipment to enable wireless network connectivity.
What are the Latest Developments in the 5G Devices Market?
- In September 2022, Nokia and Telia Finland launched commercial 5G standalone networks with network slicing for fixed wireless access services.
- In September 2022, ZTE Corporation and the Fujian Branch of China Mobile launched the first trails of the 5G industrial comprehensive emulator and analyzer in Fuzhou.
Mordor Intelligence has Segmented the 5G Devices Market Based on Form Factor, Spectrum Support, and Geography:
- By Form Factor (Market Size and Forecast based on Volume (billion units), 2018-2028)
- Modules
- CPE (Indoor/Outdoor)
- Smartphone
- Hotspots
- Laptops
- Industrial Grade CPE/Router/Gateway
- Other Form Factors
- By Spectrum Support (Market Size and Forecast based on Volume (billion units), 2018-2028)
- Sub-6 GHz
- mmWave
- Both Spectrum Bands
- By Geography (Market Size and Forecast based on Volume (billion units), 2018-2028)
- North America
- United States
- Canada
- Europe
- Germany
- United Kingdom
- France
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- Rest of Asia-Pacific
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- Middle East & Africa
- UAE
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
- North America
In a nutshell, the Mordor Intelligence market research report is a must-read for start-ups, industry players, investors, researchers, consultants, business strategists, and all those who are looking to understand this industry. Get a glance at the 5G Devices Market Report (2023-2028).
Mordor Intelligence constantly tracks industry trends. Some relevant market reports from the analysts that might be of interest to you:
- 5G Infrastructure Market Report - The 5G infrastructure market size is estimated at USD 6.69 billion in 2023. It is expected to reach USD 46.78 billion by 2028, registering a CAGR of 47.51% during the forecast period (2023-2028).
- 5G Services Market Report - The 5G services market is expected to register a CAGR of 25.30% during the forecast period (2023-2028).
- 5G Enterprise Market Report – The 5G enterprise market is expected to register a CAGR of 42.00% during the forecast period (2023-2028).
About Mordor Intelligence:
Mordor Intelligence is a market intelligence and advisory firm. At Mordor Intelligence, we believe in predicting butterfly effects that have the potential to change or significantly impact market dynamics.
Our market research reports are comprehensive and provide exclusive data, facts and figures, trends, and the competitive landscape of the industry.
Attachment
