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5G Devices Market Report and Forecast 2024-2032

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    Report

  • 213 Pages
  • July 2024
  • Region: Global
  • Expert Market Research
  • ID: 5990273
According to the report, the global 5G devices market size reached approximately USD 13.25 billion in 2023. Aided by the growing adoption of 5G smartphones, the market is projected to grow at a CAGR of 47.2% between 2024 and 2032, reaching a value of around USD 429.85 billion by 2032.

5G devices are electronic gadgets designed to operate on fifth-generation wireless networks, providing faster data speeds, lower latency, and enhanced connectivity compared to previous generations. They are often integrated with improved battery management systems to support the higher power demands of 5G connectivity.

The global 5G devices market is experiencing rapid and transformative growth, driven by several pivotal trends that reflect technological advancements and evolving consumer demands in the telecommunications sector. As 5G technology continues to roll out globally, the market for 5G-enabled devices is expanding significantly, impacting various sectors from smartphones to industrial IoT applications.

One of the primary 5G devices market trends is the accelerating adoption of 5G smartphones. Leading smartphone manufacturers are rapidly integrating 5G capabilities into their flagship and mid-range devices to meet the growing consumer demand for high-speed connectivity and enhanced mobile experiences. The launch of affordable 5G smartphones has broadened market accessibility, making 5G technology available to a wider audience. This trend is expected to continue as competition among manufacturers intensifies, driving innovation and reducing prices for consumers.

Another significant trend propelling the global 5G devices market growth is the proliferation of 5G-enabled wearables. Smartwatches, fitness trackers, and augmented reality (AR) glasses are increasingly incorporating 5G technology to deliver real-time data transfer, improved connectivity, and enhanced user experiences. The integration of 5G in wearables is enhancing their functionality, enabling features such as live streaming, seamless communication, and more accurate health monitoring. This trend reflects a broader shift towards interconnected, smart devices that leverage 5G’s low latency and high-speed capabilities.

The expansion of 5G technology into other consumer electronics is also a notable trend aiding the 5G devices market expansion. Beyond smartphones and wearables, 5G is being integrated into home appliances, entertainment systems, and even automobiles. Smart home devices, including smart speakers and security systems, are benefiting from the increased bandwidth and faster speeds of 5G, leading to more reliable and responsive smart home ecosystems. Similarly, automotive manufacturers are incorporating 5G technology into vehicles to enable advanced features such as real-time navigation updates, enhanced in-car entertainment, and vehicle-to-everything (V2X) communication, which improves road safety and traffic management.

In the enterprise sector, there is increasing investment in 5G-enabled industrial equipment, including robotics, sensors, and drones. These devices benefit from 5G’s high-speed data transfer and low latency, which are critical for applications such as real-time monitoring, automated processes, and remote operations. The ability of 5G to support massive device connectivity is particularly advantageous for smart factories and Industry 4.0 initiatives, where seamless communication between machines and systems is essential for operational efficiency and innovation.

The rise of 5G infrastructure and network deployment is also influencing the global 5G devices market expansion. As 5G networks continue to expand globally, the availability and coverage of 5G services are improving, which, in turn, stimulates demand for 5G-compatible devices. Network operators are investing heavily in 5G infrastructure to enhance network capacity and speed, which supports the broader adoption of 5G devices. The rollout of 5G networks is particularly impactful in urban areas and developed regions, but it is also gradually extending to rural and underserved areas, further boosting the market growth.

Consumer awareness and education about 5G technology are playing a crucial role in shaping the 5G devices market dynamics. As consumers become more informed about the benefits of 5G, including faster speeds, lower latency, and increased connectivity, they are more likely to seek out 5G-enabled devices. Marketing efforts by device manufacturers and network operators are focused on highlighting these benefits and demonstrating the value of upgrading to 5G technology. This increased awareness is driving consumer interest and accelerating the adoption of 5G devices across various segments.

The competitive landscape of the 5G devices market is marked by rapid technological advancements and innovation. Leading technology companies are continually developing and releasing new 5G-enabled devices with enhanced features and capabilities. This innovation is driven by the need to differentiate products in a crowded market and meet the evolving needs of consumers and businesses. Strategic partnerships, mergers, and acquisitions are also shaping the competitive landscape, as companies seek to expand their 5G portfolios and leverage complementary technologies.

Challenges in the 5G devices market include concerns related to the cost of 5G technology and the availability of compatible devices. While the prices of 5G devices are gradually decreasing, they remain higher than their 4G counterparts, which can be a barrier for some consumers. Additionally, the availability of 5G devices varies by region, with some areas experiencing delays in the rollout of compatible products. Addressing these challenges is crucial for ensuring widespread adoption and maximising the potential of 5G technology.

Market Segmentation

The global 5G devices market can be divided based on form factor, spectrum support, and region.

Market Breakup by Form Factor

  • Smartphones
  • Tablet
  • Modules
  • CPE (Indoor/Outdoor)
  • Hotspots
  • Industrial Grade CPE/Router/Gateway
  • Others

Market Breakup by Spectrum Support

  • Sub-6 GHz
  • mmWave
  • Both Spectrum Bands

Market Breakup by Region

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa

Competitive Landscape

The report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global 5G devices market. Some of the major players explored in the report are as follows:
  • 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.
  • Qualcomm Technologies, Inc.
  • Others

Table of Contents

1 Preface2 Report Coverage - Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global 5G Devices Market Analysis
8.1 Key Industry Highlights
8.2 Global 5G Devices Historical Market (2018-2023)
8.3 Global 5G Devices Market Forecast (2024-2032)
8.4 Global 5G Devices Market by Form Factor
8.4.1 Smartphones
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Tablet
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.4.3 Modules
8.4.3.1 Historical Trend (2018-2023)
8.4.3.2 Forecast Trend (2024-2032)
8.4.4 CPE (Indoor/Outdoor)
8.4.4.1 Historical Trend (2018-2023)
8.4.4.2 Forecast Trend (2024-2032)
8.4.5 Hotspots
8.4.5.1 Historical Trend (2018-2023)
8.4.5.2 Forecast Trend (2024-2032)
8.4.6 Industrial Grade CPE/Router/Gateway
8.4.6.1 Historical Trend (2018-2023)
8.4.6.2 Forecast Trend (2024-2032)
8.4.7 Others
8.5 Global 5G Devices Market by Spectrum Support
8.5.1 Sub-6 GHz
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 mmWave
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.5.3 Both Spectrum Bands
8.5.3.1 Historical Trend (2018-2023)
8.5.3.2 Forecast Trend (2024-2032)
8.6 Global 5G Devices Market by Region
8.6.1 North America
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Europe
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.6.3 Asia Pacific
8.6.3.1 Historical Trend (2018-2023)
8.6.3.2 Forecast Trend (2024-2032)
8.6.4 Latin America
8.6.4.1 Historical Trend (2018-2023)
8.6.4.2 Forecast Trend (2024-2032)
8.6.5 Middle East and Africa
8.6.5.1 Historical Trend (2018-2023)
8.6.5.2 Forecast Trend (2024-2032)
9 North America 5G Devices Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe 5G Devices Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific 5G Devices Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America 5G Devices Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa 5G Devices Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 ZTE Corporation
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 Samsung Electronics Co. Ltd
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 Xiaomi Corporation
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 Lenovo Group Limited
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 Nokia Corporation
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 Huawei Technologies Co., Ltd.
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 Apple Inc.
15.2.7.1 Company Overview
15.2.7.2 Product Portfolio
15.2.7.3 Demographic Reach and Achievements
15.2.7.4 Certifications
15.2.8 Telefonaktiebolaget LM Ericsson
15.2.8.1 Company Overview
15.2.8.2 Product Portfolio
15.2.8.3 Demographic Reach and Achievements
15.2.8.4 Certifications
15.2.9 Cisco Systems, Inc.
15.2.9.1 Company Overview
15.2.9.2 Product Portfolio
15.2.9.3 Demographic Reach and Achievements
15.2.9.4 Certifications
15.2.10 Qualcomm Technologies, Inc.
15.2.10.1 Company Overview
15.2.10.2 Product Portfolio
15.2.10.3 Demographic Reach and Achievements
15.2.10.4 Certifications
15.2.11 Other
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global 5G Devices Market: Key Industry Highlights, 2018 and 2032
2. Global 5G Devices Historical Market: Breakup by Form Factor (USD Billion), 2018-2023
3. Global 5G Devices Market Forecast: Breakup by Form Factor (USD Billion), 2024-2032
4. Global 5G Devices Historical Market: Breakup by Spectrum Support (USD Billion), 2018-2023
5. Global 5G Devices Market Forecast: Breakup by Spectrum Support (USD Billion), 2024-2032
6. Global 5G Devices Historical Market: Breakup by Region (USD Billion), 2018-2023
7. Global 5G Devices Market Forecast: Breakup by Region (USD Billion), 2024-2032
8. North America 5G Devices Historical Market: Breakup by Country (USD Billion), 2018-2023
9. North America 5G Devices Market Forecast: Breakup by Country (USD Billion), 2024-2032
10. Europe 5G Devices Historical Market: Breakup by Country (USD Billion), 2018-2023
11. Europe 5G Devices Market Forecast: Breakup by Country (USD Billion), 2024-2032
12. Asia Pacific 5G Devices Historical Market: Breakup by Country (USD Billion), 2018-2023
13. Asia Pacific 5G Devices Market Forecast: Breakup by Country (USD Billion), 2024-2032
14. Latin America 5G Devices Historical Market: Breakup by Country (USD Billion), 2018-2023
15. Latin America 5G Devices Market Forecast: Breakup by Country (USD Billion), 2024-2032
16. Middle East and Africa 5G Devices Historical Market: Breakup by Country (USD Billion), 2018-2023
17. Middle East and Africa 5G Devices Market Forecast: Breakup by Country (USD Billion), 2024-2032
18. Global 5G Devices Market Structure

Companies Mentioned

  • 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.
  • Qualcomm Technologies, Inc.

Methodology

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Table Information