According to the research report, the global 5G devices market in 2019 was approximately USD 2.67 billion. The market is expected to grow at a CAGR of 38% and is anticipated to reach around USD 26.1 billion by 2026.
The Global 5G Devices Market Is Driven by Rapid Integration of 5G Technology into Smartphones, Tablets, And Different Communication Devices and Adoption of IoT Devices Across Different Industry Verticals.
5G is referred to as fifth-generation technology for cellular networks. 5G is a successor to 4G, fourth-generation cellular network technology. In 5G networks, 5G network service areas are divided into cells, small geographical areas. Every 5G device belonging to a cell is connected to the telephone network or the Internet through an antenna present in the cell. One of the main advantages of the 5G technology is that it has higher bandwidth and hence offer high internet speed as well as download speed. 5G networks can give download speeds up to 10 gigabits per second. This higher spending is achieved by using high-frequency radio waves. The frequency of these waves is higher than the previous cellular network technologies. High-frequency radio waves have a shorter physical range, hence 5G networks operate in three different frequency bands such as low, medium, and high. 5G networks comprise three different cell types, each type will need a specific antenna and each type will provide different download speeds. Low-frequency radio waves use a frequency range of 600-850 MHz, which is similar to the 4G cellular network. Medium frequency radio waves operate in a frequency range of 2.5-3.7 GHz. This frequency range provides download speeds of 100-900 Mbit/s. 5G network with medium frequency bands is widely deployed by many cellular network companies. High-frequency radio waves operate in a frequency range of 25–39 GHz. To meet these standards, smartphone companies and telecom operators are introducing their 5G devices products.
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Top Market Players
Some of the essential players operating in the 5G devices market, but not restricted to include Verizon Communications, Analog Devices, NEC, Cavium, Huawei, Cisco, Intel, Nokia, Leapfrog 5G Devices, Qorvo, Ericsson, Samsung, SK Telecom, ZTE, Korea Telecom, Mediatek, MACOM, T-Mobile, among others.
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5G is considered to be the next cellular network standard, which will succeed 4G cellular network. 5G devices were first introduced by companies like Samsung and Huawei in 2019. In a few years, widespread deployment of 5G technology is expected to drive the 5G devices market. With the introduction of 5G technology, 5G subscriptions are expected to increase rapidly. 5G mobile subscriptions around the world are expected to reach a value of more than 2.7 billion by the end of 2025 and the Asia Pacific is expected to lead the market is terms of 5G mobile subscriptions, with North-East Asia expected to have 5G mobile subscriptions of nearly 1.4 billion by end of 2025. This increase in the number of 5G mobile subscriptions is estimated to drive the global 5G devices market. Further, growth in the Internet of Things (IoT) market is also expected to fuel the 5G devices market. Internet of Things (IoT) can integrate with 5G technology for enhancing the range of IoT devices. 5G technology has the ability to support a large number of static IoT and mobile IoT devices with high speed and bandwidth. Integration of IoT devices with 5G technology can also boost market growth. Further, the adoption of 5G technology for applications like autonomous cars due to low latency and faster connectivity offered by 5G technology is expected to create new opportunities for the global 5G devices market.
In terms of geography, Asia Pacific is expected to dominate the global 5G devices market in years ahead followed by North America. The growth in the Asia Pacific market is attributable to the rise in the number of mobile connections. In the future, mobile connections in North America and the Asia Pacific are expected to account for more than 50% of the number of mobile connections globally, which is expected to drive the 5G devices market.
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The taxonomy of the 5G devices market by its scope and segmentation is as follows:
Global 5G Devices Market: Device Type Analysis
- Hotspot Devices
Global 5G Devices Market: Frequency Band Analysis
- Low-band (sub 1 Gz)
- Mid-band (sub 6 Gz)
- High-band (mmWave)
Global 5G Devices Market: End User Analysis
Key Insights from Primary Research
- With the rise of 5G technology, there has been an increase in the interest shown by consumers in new smartphones and other 5G devices and this has created new opportunities for smartphone and telecom companies in the global market.
- One of the primary growth driving factors for the global 5G devices market is the rapid integration of 5G technology into smartphones, tablets, and different communication devices.
- Based on device types, the smartphone segment is expected to grow at the highest pace in the global 5G devices market over the forecasted period 2020-2026.
- In terms of region, the Asia Pacific region held the majority of the share in the global 5G devices market in 2019, mainly due to the presence of key vendors operating in the region.
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