What is 5G Devices Market Size?

The global 5G devices market revenue was valued at USD 136.79 billion in 2023 and is poised to grow from USD 181.52 billion in 2024 to USD 2,395.83 billion by 2033, at a CAGR of 33.20% during the forecast period 2024 – 2033. The continuous expansion of the 5G network infrastructure all over the world is driving the 5G devices market exponentially. The Government, along with telecommunication companies, are investing huge amounts to roll out 5G networks to improve connectivity capacity.


Market Overview

The advanced-level tools used to communicate are 5G devices, which help connect people to fifth-generation wireless networks, providing faster and more consistent internet connection than earlier generations. 5G devices are comprised of routers, smartphones, tablets, and many other gadgets designed in a manner that connects the advantages of 5G technology. With improved speed and lower latency, 5G devices and networks help to download quickly, continuously stream, and enhance overall functioning for numerous applications.

One of the most likable features of 5G devices is their tendency to support advanced technology such as the Internet of Things (IoT) and augmented reality (AR). Additionally, it is predicted that the 5G network will inspire revolution and the acceptance of advanced technology in smart cities. Edge computing allows real-time analysis with quick answering time and hence improves overall presentation and trustworthiness.

This fast network provides effectual communication service between devices which enhances the chances of smart houses, linked vehicles, and various other applications across the market. As the 5G infrastructure rapidly expands worldwide 5G devices play a crucial role in progressing the way we connect, involved, and communicate with digital content in our everyday lives.

  • Increasing acceptance and accessibility: With the rising rollout of 5G networks all over the world, there has been an important growth in the acceptance and accessibility of 5G devices. Popular smartphone manufacturing companies are launching a variety of 5G network-empowered models of smartphones at a diverse price range, to make this technology available to a wider range of customer base.
  • Broadening of device types: Apart from smartphones in the 5G ecology, there are several other devices available, such as laptops, tablets, wearable gadgets, and the Internet of Things (IoT). This broadening is influenced by the requirement for high-speed connectivity in several applications extending from smart devices for home to industry-level Internet of Things (IoT) solutions.
  • Technological developments: The progression of highly advanced 5G antennas and chipsets has enabled the invention of minor, more power-effective 5G devices. This trend is important for enhancing battery life and dropping heat production, addressing a few primary apprehensions with 5G devices.
  • Incorporation with edge computing: As 5G networks allow ultra-low dormancy and high bandwidth, there is an emerging trend in the direction of incorporating 5G devices with edge computing capacities. This incorporation permits devices to process data more rapidly to the source, improving real-time applications such as virtual reality (VR), augmented reality (AR), and autonomous vehicles.

Demand for high-speed connectivity and rapid expansion drive the 5G devices market

The continuously growing customer for enhanced network supply and internet connectivity demand is working as a driving force for the growth of the 5G devices market. People are constantly becoming dependent on the internet to perform various activities such as gaming, working from home, streaming, and many more. To accomplish all such work, one needs high-speed internet, and a 5G network is the best option. Users want to experience quick downloads, buffer-less streaming, and fast response to their internet activities.

Due to this demand, the 5G device market is getting boosted exponentially. 5G technology suggests unmatched speed and low potential, meeting the hopes of handlers who desire to improve the internet experience. Whether it's downloading huge files in seconds or liking high-definition video calls without disturbances, the user craving for high-speed connectivity is pushing the acceptance of 5G devices, making them essential to meeting the developing connectivity requirements of modern customers.

Spectrum distribution and accessibility pose important limits on the market request for 5G devices. The distribution of exact radio frequencies, or range, for 5G networks is vital for safeguarding effective and high-speed wireless communication. However, controlling trials and restricted accessibility of appropriate spectrum can sluggish the positioning of strong 5G networks. This restraint is mainly obvious in areas where controlling outlines are still adjusting to the requests of 5G technology, causing to interruptions in spectrum auctions and distributions.

5G Devices Market Highlights

Report Attribute Key Statistics
Market Revenue in 2024 USD 181.52 Billion
Market Revenue by 2033 USD 2,395.83 Billion
Market CAGR 33.20% from 2024 to 2033
Quantitative Units Revenue in USD million/billion, Volume in units
Largest Market Asia-Pacific
Base Year 2023
Forecast Period 2024 to 2033
Regions Covered North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa

Top Companies in the 5G Devices Market

  • Huawei Technology Co. Ltd.
  • Nokia Corporation
  • Qualcomm Incorporated
  • Cisco Systems Inc.
  • Ericsson
  • ZTE Corporation
  • Intel Corporation
  • Samsung
  • Apple Inc.
  • Verizon
  • Media Tek Inc.
  • NEC Corporation
  • Airspan Networks
  • Bharti Airtel Limited
  • Broadcom Inc.
  • Motorola Solutions
  • Qorvo Inc.
  • Vodafone Group Plc
  • Sony Corporation
  • HFCL
  • Verizon Communications Inc.
  • LG Electronics Inc.
  • AT&T, Inc.

Recent Development by Qualcomm Incorporated

  • In March 2024, Qualcomm Incorporated, which is an American multinational corporation, that designs and develops wireless telecommunication devices and services, announced to launch of a new chipset to enable an entry-level 5G smartphone at a price of sub-$99 to encourage 2G users to use 5G smartphones.

Recent Development by HFCL

  • In December 2023, HFCL (Himachal Futuristic Communications Limited), which is one of the largest private-sector Indian telecom companies, launched a 5G FWA (fixed wireless access) solution for Telcos.

Regional Insights

North America is expected to grow at the fastest rate during the forecast period because of strong organizational growth, considerable investments, and extensive user acceptance. The progressive technological environment of the region, combined with robust backing from governments and telecom operatives, generates a favorable atmosphere. Growing requests for high-speed connectivity, combined with a modest landscape driving revolution, make North America a significant player in the worldwide 5G devices market. This development is additionally pushed by the incorporation of 5G in numerous trades and the growing acceptance of progressive applications and facilities.

Bar Chart 222656

Asia-Pacific held the major market share in the 5G devices market in 2023 because of its fast acceptance of 5G technology. Countries such as South Korea, China, and Japan are foremost in positioning widespread 5G infrastructure, and development is an important request for 5G-allowed devices. The huge population attached to growing smartphone saturation drives the supremacy of the area. Moreover, government inventiveness, considerable investments by telecom workers, and a tech-savvy user base subsidize the strong development of the 5G devices market in the Asia-Pacific province.

In the meantime, Europe is facing prominent development in the 5G devices market because of widespread network positionings and growing user demand. The hands-on tactic of the region to 5G infrastructure growth, helpful monitoring outlines, and associations among telecom workers and device producers have fueled the development of the market. As 5G networks become more available across European countries, users are accepting 5G-permitted devices to appreciate faster internet speeds, low potential, and enhanced connectivity. This rising demand, joined with planned funds and technological progressions, is driving the strong development of the 5G devices market in the Europe region.

Bar Chart 725572

Market Potential and Growth Opportunity

Rise of smart cities

The appearance of smart cities offers important chances in the 5G devices market. 5G expertise plays a crucial role in the growth of keen city infrastructure by providing high-speed, low-potential connectivity. This allows the unified incorporation of numerous smart city workings, like intelligent transport arrangements, associated street lights, and smart networks. As cities universally capitalize on flattering more associated and effectual, the request for 5G devices rises. Devices such as sensors, communication hubs, and cameras fixed in city infrastructure depend on 5G networks to spread real-time data, enhancing city facilities and improving the complete worth of life for inhabitants.

Chances in the 5G devices market spread to the growth of smart city-centric requests, counting associated vehicles, automated observation systems, and ecological monitoring devices. Producers of 5G devices can discover corporations with city developers and technology benefactors to generate advanced solutions tailored to the developing requirements of smart cities, driving technological progressions and putting up the continuing alteration of city landscapes.

5G Devices Market News

  • In March 2024, Realme, which is a Chinese consumer electronic manufacturer, announced the launch of the Realme 12X 5G smartphone, which has features like 45W SuperVOOC fast charging and a full HD+ display with a 120 Hz refresh rate and is powered by MediaTek Dimensity 6100+ SoC.
  • In September 2023, Jio, which is an Indian telecommunication company and a subsidiary of Jio Platforms, launched the 5G fixed wireless access (FWA) service Jio Airfiber in eight different cities: Chennai, Hyderabad, Delhi, Kolkata, Bengaluru, Mumbai, Ahmedabad, and Pune.
  • In December 2023, Poco, which is a Chinese smartphone specialized brand, launched its latest M series smartphone in India, which is named Poco M6 5G.

Market Segmentation

By Form Factor

  • Phones
  • CPE
  • Modules
  • Hotspots, Switches & Routers
  • Laptop
  • Tablets
  • Others

By Spectrum

  • sub-6 GHz
  • mmWave
  • sub-6 GHz + mmWave

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