5G Devices Market (By Form Factor: Phones, CPE, Modules, Hotspots, Switches & Routers, Laptop, Tablets, Others; By Spectrum: sub-6 GHz, mmWave, sub-6 GHz + mmWave) - Global Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2024-2033
The global 5G devices market size was valued at USD 136.79 billion in 2023 and is expected to hit around USD 2,395.83 billion by 2033, poised to grow at a CAGR of 33.20% from 2024 to 2033.
To Access our Exclusive Data Intelligence Tool with 15000+ Database, Visit: Precedence Statistics
The Asia Pacific 5G devices market size was valued at USD 51.98 billion in 2023 and is expected to reach around USD 924.18 billion by 2033, growing at a CAGR of 33.40% from 2024 to 2033.
In 2023, Asia-Pacific held the largest market share of 38% in 5G devices market due to its rapid adoption of 5G technology. Countries like China, South Korea, and Japan are leading in deploying extensive 5G infrastructure, fostering a significant demand for 5G-enabled devices. The large population, coupled with increasing smartphone penetration, drives the region's dominance. Additionally, government initiatives, substantial investments by telecom operators, and a tech-savvy consumer base contribute to the robust growth of the 5G devices market in the Asia-Pacific region.
North America is poised for rapid growth in the 5G devices market due to robust infrastructure development, substantial investments, and widespread consumer adoption. The region's advanced technological ecosystem, coupled with strong support from governments and telecom operators, creates a favorable environment. Increasing demand for high-speed connectivity, coupled with a competitive landscape driving innovation, positions North America as a key player in the global 5G devices market. This growth is further propelled by the integration of 5G in various industries and the rising popularity of advanced applications and services.
Meanwhile, Europe is experiencing notable growth in the 5G devices market due to widespread network deployments and increasing consumer demand. The region's proactive approach to 5G infrastructure development, supportive regulatory frameworks, and collaborations among telecom operators and device manufacturers have fueled the market's expansion. As 5G networks become more accessible across European countries, consumers are adopting 5G-enabled devices to enjoy faster internet speeds, low latency, and improved connectivity. This growing demand, coupled with strategic investments and technological advancements, is driving the robust growth of the 5G devices market in Europe.
5G devices are advanced communication tools that connect to the fifth-generation wireless network, offering faster and more reliable internet connectivity compared to previous generations. These devices include smartphones, tablets, routers, and other gadgets designed to harness the benefits of 5G technology. With enhanced speed and lower latency, 5G devices enable quicker downloads, seamless streaming, and improved overall performance for various applications. One notable aspect of 5G devices is their ability to support innovative technologies like augmented reality (AR) and the Internet of Things (IoT).
This means faster and more efficient communication between devices, opening up possibilities for smart homes, connected vehicles, and diverse applications across industries. As the 5G infrastructure continues to expand globally, 5G devices play a pivotal role in transforming the way we connect, communicate, and engage with digital content in our daily lives.
Report Coverage | Details |
Growth Rate from 2024 to 2033 | CAGR of 33.20% |
Global Market Size in 2023 | USD 136.79 Billion |
Global Market Size by 2033 | USD 2,395.83 Billion |
Base Year | 2023 |
Forecast Period | 2024 to 2033 |
Segments Covered | By Form Factor and By Spectrum |
Regions Covered | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
Driver
Consumer demand for high-speed connectivity
The surge in consumer demand for high-speed connectivity is a driving force behind the growing market demand for 5G devices. As people increasingly rely on the internet for activities like streaming, gaming, and remote work, there is a heightened need for faster and more reliable connections. Consumers seek to experience seamless downloads, buffer-free streaming, and quick responsiveness in their online activities.
In response to this demand, the 5G devices market has witnessed a significant boost. 5G technology offers unparalleled speed and low latency, meeting the expectations of users who crave enhanced internet experiences. Whether it's downloading large files in seconds or enjoying high-definition video calls without disruptions, the consumer appetite for high-speed connectivity is propelling the adoption of 5G devices, making them integral to meeting the evolving connectivity needs of modern users.
Restraint
Spectrum allocation and availability
Spectrum allocation and availability pose significant restraints on the market demand for 5G devices. The allocation of specific radio frequencies, or spectrum, for 5G networks is crucial for ensuring efficient and high-speed wireless communication. However, regulatory challenges and limited availability of suitable spectrum can slow down the deployment of robust 5G networks. This limitation is particularly evident in regions where regulatory frameworks are still adapting to the demands of 5G technology, leading to delays in spectrum auctions and allocations.
The scarcity of spectrum can result in congestion and compromises in the quality of 5G services, impacting the overall user experience. In addition, different countries may adopt varying spectrum bands for 5G, creating challenges for device manufacturers to produce devices that are compatible across diverse regional standards. Addressing these spectrum-related challenges requires international collaboration, effective regulatory policies, and timely spectrum auctions to ensure a steady and widespread deployment of 5G networks, subsequently driving the demand for 5G devices.
Opportunity
Emergence of smart cities
The emergence of smart cities presents significant opportunities in the market for 5G devices. 5G technology plays a pivotal role in the development of smart urban infrastructure by providing high-speed, low-latency connectivity. This enables the seamless integration of various smart city components, such as intelligent transportation systems, connected street lighting, and smart grids. As cities worldwide invest in becoming more connected and efficient, the demand for 5G devices grows. Devices like sensors, cameras, and communication hubs embedded in urban infrastructure rely on 5G networks to transmit real-time data, optimizing city services and enhancing the overall quality of life for residents.
Opportunities in the 5G devices market extend to the development of smart city-centric applications, including connected vehicles, automated surveillance systems, and environmental monitoring devices. Manufacturers of 5G devices can explore partnerships with urban planners and technology providers to create innovative solutions tailored for the evolving needs of smart cities, driving technological advancements, and contributing to the ongoing transformation of urban landscapes.
The phones segment held the highest market share at 52% in 2022. In the 5G devices market, the phones segment refers to 5G-enabled smartphones. These devices leverage 5G technology to deliver faster internet speeds, reduced latency, and enhanced connectivity. A prominent trend in this segment includes the increasing availability of affordable 5G phones, enabling a broader consumer base to access the benefits of 5G connectivity. As more manufacturers launch diverse 5G smartphone models, the market witnesses a growing demand for feature-rich devices, contributing to the widespread adoption of 5G technology in the mobile phone industry.
The laptop segment is anticipated to witness rapid growth at a significant CAGR of 34.9% during the projected period. The laptop segment in the 5G devices market refers to portable computers equipped with integrated 5G connectivity. These laptops leverage 5G technology to offer users high-speed internet access on the go. The trend in this segment involves the increasing demand for laptops that combine the convenience of mobility with the enhanced connectivity of 5G networks. Users seek seamless video conferencing, fast downloads, and smooth online experiences, driving the adoption of 5G-enabled laptops as an essential tool for productivity and connectivity in various work and personal settings.
The sub-6 GHz segment has held a 68% market share in 2023. In the 5G devices market, the sub-6 GHz spectrum refers to a frequency band that facilitates reliable and widespread 5G coverage. Devices operating in this spectrum offer a balance between range and data speed. The sub-6 GHz segment is crucial for urban and suburban deployments, providing enhanced connectivity for a broad range of applications. A trend in the market is the widespread adoption of sub-6 GHz technology, driven by its ability to deliver extended coverage and improved penetration through obstacles, making it a preferred choice for many 5G devices.
The mmWave segment is anticipated to witness rapid growth over the projected period. In the context of 5G devices, the mmWave (millimeter wave) spectrum refers to a range of radio frequencies above 24 GHz. This high-frequency spectrum offers increased data transfer rates, enabling exceptionally fast and responsive 5G connections. The mmWave segment is key for delivering enhanced mobile broadband services. Despite its shorter range compared to lower-frequency bands, mmWave's increasing adoption is notable for urban deployments, providing ultra-fast speeds and supporting applications like augmented reality and high-definition video streaming in the 5G devices market.
Segments Covered in the Report
By Form Factor
By Spectrum
By Geography
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology (Premium Insights)
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. COVID 19 Impact on 5G Devices Market
5.1. COVID-19 Landscape: 5G Devices Industry Impact
5.2. COVID 19 - Impact Assessment for the Industry
5.3. COVID 19 Impact: Global Major Government Policy
5.4. Market Trends and Opportunities in the COVID-19 Landscape
Chapter 6. Market Dynamics Analysis and Trends
6.1. Market Dynamics
6.1.1. Market Drivers
6.1.2. Market Restraints
6.1.3. Market Opportunities
6.2. Porter’s Five Forces Analysis
6.2.1. Bargaining power of suppliers
6.2.2. Bargaining power of buyers
6.2.3. Threat of substitute
6.2.4. Threat of new entrants
6.2.5. Degree of competition
Chapter 7. Competitive Landscape
7.1.1. Company Market Share/Positioning Analysis
7.1.2. Key Strategies Adopted by Players
7.1.3. Vendor Landscape
7.1.3.1. List of Suppliers
7.1.3.2. List of Buyers
Chapter 8. Global 5G Devices Market, By Form Factor
8.1. 5G Devices Market Revenue and Volume, by Form Factor, 2024-2033
8.1.1. Phones
8.1.1.1. Market Revenue and Volume Forecast (2021-2033)
8.1.2. CPE
8.1.2.1. Market Revenue and Volume Forecast (2021-2033)
8.1.3. Modules
8.1.3.1. Market Revenue and Volume Forecast (2021-2033)
8.1.4. Hotspots, Switches & Routers
8.1.4.1. Market Revenue and Volume Forecast (2021-2033)
8.1.5. Laptop
8.1.5.1. Market Revenue and Volume Forecast (2021-2033)
8.1.6. Tablets
8.1.6.1. Market Revenue and Volume Forecast (2021-2033)
8.1.7. Others
8.1.7.1. Market Revenue and Volume Forecast (2021-2033)
Chapter 9. Global 5G Devices Market, By Spectrum
9.1. 5G Devices Market Revenue and Volume, by Spectrum, 2024-2033
9.1.1. sub-6 GHz
9.1.1.1. Market Revenue and Volume Forecast (2021-2033)
9.1.2. mmWave
9.1.2.1. Market Revenue and Volume Forecast (2021-2033)
9.1.3. sub-6 GHz + mmWave
9.1.3.1. Market Revenue and Volume Forecast (2021-2033)
Chapter 10. Global 5G Devices Market, Regional Estimates and Trend Forecast
10.1. North America
10.1.1. Market Revenue and Volume Forecast, by Form Factor (2021-2033)
10.1.2. Market Revenue and Volume Forecast, by Spectrum (2021-2033)
10.1.3. U.S.
10.1.3.1. Market Revenue and Volume Forecast, by Form Factor (2021-2033)
10.1.3.2. Market Revenue and Volume Forecast, by Spectrum (2021-2033)
10.1.4. Rest of North America
10.1.4.1. Market Revenue and Volume Forecast, by Form Factor (2021-2033)
10.1.4.2. Market Revenue and Volume Forecast, by Spectrum (2021-2033)
10.2. Europe
10.2.1. Market Revenue and Volume Forecast, by Form Factor (2021-2033)
10.2.2. Market Revenue and Volume Forecast, by Spectrum (2021-2033)
10.2.3. UK
10.2.3.1. Market Revenue and Volume Forecast, by Form Factor (2021-2033)
10.2.3.2. Market Revenue and Volume Forecast, by Spectrum (2021-2033)
10.2.4. Germany
10.2.4.1. Market Revenue and Volume Forecast, by Form Factor (2021-2033)
10.2.4.2. Market Revenue and Volume Forecast, by Spectrum (2021-2033)
10.2.5. France
10.2.5.1. Market Revenue and Volume Forecast, by Form Factor (2021-2033)
10.2.5.2. Market Revenue and Volume Forecast, by Spectrum (2021-2033)
10.2.6. Rest of Europe
10.2.6.1. Market Revenue and Volume Forecast, by Form Factor (2021-2033)
10.2.6.2. Market Revenue and Volume Forecast, by Spectrum (2021-2033)
10.3. APAC
10.3.1. Market Revenue and Volume Forecast, by Form Factor (2021-2033)
10.3.2. Market Revenue and Volume Forecast, by Spectrum (2021-2033)
10.3.3. India
10.3.3.1. Market Revenue and Volume Forecast, by Form Factor (2021-2033)
10.3.3.2. Market Revenue and Volume Forecast, by Spectrum (2021-2033)
10.3.4. China
10.3.4.1. Market Revenue and Volume Forecast, by Form Factor (2021-2033)
10.3.4.2. Market Revenue and Volume Forecast, by Spectrum (2021-2033)
10.3.5. Japan
10.3.5.1. Market Revenue and Volume Forecast, by Form Factor (2021-2033)
10.3.5.2. Market Revenue and Volume Forecast, by Spectrum (2021-2033)
10.3.6. Rest of APAC
10.3.6.1. Market Revenue and Volume Forecast, by Form Factor (2021-2033)
10.3.6.2. Market Revenue and Volume Forecast, by Spectrum (2021-2033)
10.4. MEA
10.4.1. Market Revenue and Volume Forecast, by Form Factor (2021-2033)
10.4.2. Market Revenue and Volume Forecast, by Spectrum (2021-2033)
10.4.3. GCC
10.4.3.1. Market Revenue and Volume Forecast, by Form Factor (2021-2033)
10.4.3.2. Market Revenue and Volume Forecast, by Spectrum (2021-2033)
10.4.4. North Africa
10.4.4.1. Market Revenue and Volume Forecast, by Form Factor (2021-2033)
10.4.4.2. Market Revenue and Volume Forecast, by Spectrum (2021-2033)
10.4.5. South Africa
10.4.5.1. Market Revenue and Volume Forecast, by Form Factor (2021-2033)
10.4.5.2. Market Revenue and Volume Forecast, by Spectrum (2021-2033)
10.4.6. Rest of MEA
10.4.6.1. Market Revenue and Volume Forecast, by Form Factor (2021-2033)
10.4.6.2. Market Revenue and Volume Forecast, by Spectrum (2021-2033)
10.5. Latin America
10.5.1. Market Revenue and Volume Forecast, by Form Factor (2021-2033)
10.5.2. Market Revenue and Volume Forecast, by Spectrum (2021-2033)
10.5.3. Brazil
10.5.3.1. Market Revenue and Volume Forecast, by Form Factor (2021-2033)
10.5.3.2. Market Revenue and Volume Forecast, by Spectrum (2021-2033)
10.5.4. Rest of LATAM
10.5.4.1. Market Revenue and Volume Forecast, by Form Factor (2021-2033)
10.5.4.2. Market Revenue and Volume Forecast, by Spectrum (2021-2033)
Chapter 11. Company Profiles
11.1. Qualcomm
11.1.1. Company Overview
11.1.2. Product Offerings
11.1.3. Financial Performance
11.1.4. Recent Initiatives
11.2. Huawei Technologies Co., Ltd.
11.2.1. Company Overview
11.2.2. Product Offerings
11.2.3. Financial Performance
11.2.4. Recent Initiatives
11.3. Samsung Electronics Co., Ltd.
11.3.1. Company Overview
11.3.2. Product Offerings
11.3.3. Financial Performance
11.3.4. Recent Initiatives
11.4. Ericsson
11.4.1. Company Overview
11.4.2. Product Offerings
11.4.3. Financial Performance
11.4.4. Recent Initiatives
11.5. Nokia Corporation
11.5.1. Company Overview
11.5.2. Product Offerings
11.5.3. Financial Performance
11.5.4. Recent Initiatives
11.6. Intel Corporation
11.6.1. Company Overview
11.6.2. Product Offerings
11.6.3. Financial Performance
11.6.4. Recent Initiatives
11.7. MediaTek Inc.
11.7.1. Company Overview
11.7.2. Product Offerings
11.7.3. Financial Performance
11.7.4. Recent Initiatives
11.8. Cisco Systems, Inc.
11.8.1. Company Overview
11.8.2. Product Offerings
11.8.3. Financial Performance
11.8.4. Recent Initiatives
11.9. Verizon Communications Inc.
11.9.1. Company Overview
11.9.2. Product Offerings
11.9.3. Financial Performance
11.9.4. Recent Initiatives
11.10. AT&T Inc.
11.10.1. Company Overview
11.10.2. Product Offerings
11.10.3. Financial Performance
11.10.4. Recent Initiatives
Chapter 12. Research Methodology
12.1. Primary Research
12.2. Secondary Research
12.3. Assumptions
Chapter 13. Appendix
13.1. About Us
13.2. Glossary of Terms
No cookie-cutter, only authentic analysis – take the 1st step to become a Precedence Research client