5G Infrastructure Market Size To Reach $95.88 Billion By 2030

5G Infrastructure Market Growth & Trends

The global 5G infrastructure market size is expected to reach USD 95.88 billion by 2030, growing at a CAGR of 28.4% from 2023 to 2030, according to a new report by Grand View Research, Inc. A surge in demand for 5G connections across the globe is a vital factor in driving the growth of 5G infrastructure. The increased demand for a 5G network is due to its ability to offer high-speed, low-latency internet connectivity. Businesses across the globe are increasingly focusing on leveraging the Internet of Things (IoT) ecosystem to optimize their operations and improve overall performance. IoT comprises a network of interconnected devices equipped with sensors, software, and network connectivity, enabling them to gather and share information.

The rapidly increasing number of Industrial Internet of Things (IIoT) devices is expected to generate massive demand for enhanced data connectivity. As a result, it is anticipated to boost the adoption of 5G services in industrial applications, which, in turn, is expected to spur the market growth over the forecast period. Key market players are partnering to offer 5G solutions to consumers. For instance, in June 2023, Nokia and Virgin Media O2 extended their ongoing partnership by three years. In this deal, Nokia will continue to supply its RAN equipment from its AirScale portfolio. With this agreement, Virgin Media O2 will continue to offer improved connectivity to its customers in the UK. The COVID-19 pandemic had a significant impact on the global economy and 5G infrastructure deployment.

Lockdown measures in countries like the U.S., China, and India caused disruptions in supply chains and resulted in delayed deployments of 5G infrastructure. Spectrum auctions for 5G frequencies were also postponed by telecom authorities and governments, including in the UK, France, Italy, and Spain. These delays further hampered the global rollout of next-generation network infrastructure, liming the industry growth. Asia Pacific is expected to dominate the global industry over the forecast period owing to the rapid rollout of 5G in several countries of the region. In addition, the high demand for digital transformation across Asia Pacific will support the region’s growth.

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 5G Infrastructure Market Report Highlights

• The hardware segment dominated the market in 2022 and is expected to witness the fastest CARG over the forecast period due to a rise in 5G deployment across the globe

• The mmWave segment is anticipated to register the fastest CAGR over the forecast period. mmWave includes higher radio frequency bands ranging from 24 GHz to 40 GHz

• The segment growth is attributed to the release of mmWave frequencies by countries to boost their data services

• The non-standalone segment is expected to dominate the market in 2022 due to the widespread adoption of non-standalone networks across the globe. Non-standalone is a cost-effective solution, which will fuel the adoption of this network architecture

• The industrial segment is anticipated to register the fastest CAGR over the forecast period due to the growing demand for 5G in Industry 4.0

• The increasing adoption of IoT devices, collaborative robots, and other advanced technologies is expected to boost the demand for 5G infrastructure in industries

5G Infrastructure Market Segmentation

Grand View Research has segmented the global 5G infrastructure market based on component, spectrum, network architecture, vertical, and region:

5G Infrastructure Component Outlook (Revenue, USD Million, 2018 - 2030)

• Hardware

  • RAN

  • Core Network

  • Backhaul & Transport

  • FrontHaul

  • MidHaul

• Services

  • Consulting

  • Implementation & Integration

  • Support & Maintenance

  • Training & Education

5G Infrastructure Spectrum Outlook (Revenue, USD Million, 2018 - 2030)

• Sub-6 GH

  • Low Band

  • Mid Band

• mmWave

5G Infrastructure Network Architecture Outlook (Revenue, USD Million, 2018 - 2030)

• Standalone

• Non-Standalone

5G Infrastructure Vertical Outlook (Revenue, USD Million, 2018 - 2030)

• Residential

• Enterprise/Corporate

• Smart City

• Industrial

• Energy & Utility

• Transportation & Logistics

• Public Safety & Defense

• Healthcare Facilities

• Retail

• Agriculture

• Others

5G Infrastructure Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

• Europe

  • UK

  • Germany

  • Italy

• Asia Pacific

  • China

  • India

  • Japan

  • South Korea

• Latin America

  • Brazil

  • Mexico

• Middle East & Africa

  • Kingdom of Saudi Arabia (KSA)

  • UAE

  • South Africa

List of Key Players in the 5G Infrastructure Market

• Altiostar

• Huawei Technologies Co., Ltd.

• Nokia Corp.

• Samsung Electronics Co., Ltd.

• Telefonaktiebolaget LM Ericsson

• ZTE Corp.

• Airspan Networks Holdings Inc.

• Fujitsu Ltd.

• CommScope Inc.

• Corning

• NEC Corp.

• Cisco Systems, Inc.

• Hewlett Packard Enterprise Development LP

• Ceragon

• Casa Systems

• Mavenir

• Comba Telecom Systems Holdings Ltd.