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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
5G Devices Market Growth
5G stands for fifth generation and 5G device refers to electronic devices including mobile phones that use the fifth-generation mobile network to connect machines, devices, and objects virtually and are engineered to increase the speed and responsiveness of wireless networks. Examples of 5G devices include smartphones, tablets, laptops with 5G modems, Internet of Things (IoT) devices, and fixed wireless access points.
Infrastructural development such as the upgradation of existing modems and towers, among others, along with the growing adoption of wearable technologies is supporting the 5G devices market development. The rising requirement for speed data connectivity owing to the increase in work-from-home is also fuelling the market growth. The demand for 5G devices from the healthcare and automobile sectors is rising rapidly owing to their capability to support high-speed data transfer rate, consistent connectivity, and low latency. Moreover, government initiatives to develop smart cities are further boosting the requirement for 5G infrastructure to allow device connectivity and deployment of sensors. 5G also allows for industrial automation and smart manufacturing by enabling multiple advances including computer vision and machine learning, among others.
5G Devices Market Report Snapshots
5G Devices Market Regional Analysis
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The market reached a value of approximately USD 13.25 billion in 2024.
The market is projected to grow at a CAGR of 47.2% between 2025 and 2034.
The market is estimated to witness a healthy growth in the forecast period of 2025-2034 to reach USD 429.85 billion by 2034.
The major market drivers include development of smart cities and increasing utilisation of 5G devices for industrial automation.
The key trends fuelling the growth of the market rising demand from automobile and healthcare sectors and growing speed data connectivity owing to increase in work from home.
The major regions in the market are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The significant spectrum supports include sub-6 GHz, mmWave, and both spectrum bands.
The major players in the market are ZTE Corporation, Samsung Electronics Co. Ltd, Xiaomi Corporation, Lenovo Group Limited, Nokia Corporation, Huawei Technologies Co., Ltd., Apple Inc., Telefonaktiebolaget LM Ericsson, Cisco Systems, Inc., and Qualcomm Technologies, Inc., among others.
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