How big is the global 5G technology market?
The global 5G technology market is expected to reach a staggering $357.1 billion by 2030, growing at a remarkable CAGR of 44.2% between 2023 and 2030.
What are the key drivers of the 5G market growth?
Rising demand for IoT-connected devices, mobile broadband penetration, device-to-device communication, and network virtualization are fueling the rapid expansion of the 5G market.
Who are the major players in the 5G market?
Global tech giants like AT&T, China Mobile, Huawei, and Ericsson are leading the way in 5G infrastructure development and network deployment. Smaller players and innovative startups are also emerging with niche solutions and applications.
Which region is expected to lead the 5G market in terms of growth?
The Asia-Pacific region, with its large populations and growing demand for IT, telecom, and MMTc services, is expected to hold the largest market share for 5G technology, reaching over 35% by 2030.