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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
5G Devices Market Share
Demand for smartphones is increasing due to the growing launch of new 5G models as well as the rise in 5G network plans
Smartphones are expected to account for a significant market share over the forecast period. This growth can be attributed to the increasing popularity of various data-intensive applications including gaming and video streaming, among others. The growing technological advancements and rising demand for massive connectivity, ultra-high bandwidth, and ultra-low latency in smartphones are further supporting the segment growth. The increased requirement for high-speed data for IoT applications is further propelling the requirement for 5G smartphones.
CPE is anticipated to grow at a sizeable rate in the 5G devices market in the coming years. CPE includes devices such as indoor and outdoor routers, gateways, and fixed wireless access points that enable 5G connectivity in homes and businesses. With the deployment of 5G networks, there is a growing demand for 5G CPE to provide high-speed internet access in areas where traditional wired broadband is not available or is less reliable.
The sub-6 GHz segment maintains its dominance in the market as a wide variety of devices offer support to sub-6 GHZ frequencies
Sub-6 GHz holds a significant share of the 5G devices market. The majority of 5G devices currently in the market support Sub-6 GHz frequencies. This is because Sub-6 GHz bands offer a good balance of coverage and capacity, making them suitable for a wide range of applications and environments. Sub-6 GHz frequencies can penetrate buildings and other obstacles more effectively than mmWave frequencies, providing more extensive and reliable coverage.
Both Spectrum Bands segment is anticipated to witness sizeable growth in the forecast period. Devices that support both Sub-6 GHz and mmWave frequencies are becoming increasingly popular, especially in markets where mmWave 5G deployment is expanding as these devices offer the best of both worlds: the extensive coverage of Sub-6 GHz and the ultra-high speeds of mmWave.
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 2023.
The market is projected to grow at a CAGR of 47.2% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach USD 429.85 billion by 2032.
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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