The 5G device market is anticipated to grow at a CAGR of 6.38% from US$498.563 billion in 2022 to US$722.525 billion by 2028.

NOIDA, UTTAR PARDESH, INDIA, January 2, 2024 /EINPresswire.com/ -- According to a new study published by Knowledge Sourcing Intelligence, the 5G device market is projected to grow at a CAGR of 6.38%, between 2022 and 2028 to reach US$722.525 billion by 2028.

The ongoing deployment of 5G network infrastructure is one of the main forces fueling the market. Telecommunications businesses and governments worldwide are investing extensively in the deployment of 5G networks, which will increase coverage and capacity. As these networks become more accessible, the demand for 5G devices such as smartphones, tablets, and IoT devices grows organically. This expansion enables faster internet rates, lower latency, and broader connection, which appeals to both consumers and companies.

The next wave of communication is represented by 5G devices, which promise higher speeds and more capabilities. These gadgets, which range from industrial routers to smartphones, are the gateway to a brand-new era of seamless communication and innovative applications. 5G devices are essential to the way we connect and engage in this rapidly evolving digital world. They promote innovation in a range of sectors and improve user experiences. The growing need for high-speed connection among consumers is a major market driver. Faster and more dependable connections are becoming more and more necessary as people use their devices for a variety of purposes, such as online gaming and streaming high-definition video. To meet this need, 5G technology offers unmatched data speeds and decreased latency, improving user experience all around. Device vendors are being pushed by this spike in customer demand to release more 5G-compatible devices which is eventually aiding the market growth.

The market is witnessing multiple collaborations and technological advancements, for instance, in August 2022, MediaTek revealed the T830 platform, which is designed for 5G fixed wireless access (FWA) routers and mobile hotspot customer-premise equipment (CPE). The T830 is equipped with MediaTek's M80 modem, which includes improved Release 16 capabilities for sub-6GHz band functionalities, making it ideal for worldwide 5G networks.

Access sample report or view details: https://www.knowledge-sourcing.com/report/global-5g-device-market

Based on device type the global 5G device market is divided into smartphones, industrial routers, FWA CPE, modules, and others. Among these, the smartphone category is anticipated to expand at a high CAGR over the forecast period. Mobile phones have become an essential component of modern life, with millions of users worldwide. The shift to 5G not only offers faster and more dependable data rates, but also opens the potential for numerous applications, such as Augmented Reality (AR), Virtual Reality (VR), and the Internet of Things (IoT), which are best experienced on mobile devices. Furthermore, phone makers have realized the enormous market potential and have been aggressively investing in 5G technology integration, pushing the segment's growth in the market.

Based on deployment the global 5G device market is divided into standalone (SA) and non-standalone (NSA). The standalone (SA) deployment in the 5G device market is predicted to have a dominant share in the future years due to its inherent benefits in offering a fully independent and robust 5G network experience. SA design provides end-to-end 5G communication without depending on old 4G infrastructure, resulting in higher performance, lower latency, and increased network dependability. As 5G technology develops and networks expand, the industry is likely to see increased investments in SA deployments, fueled by consumer demand for advanced use cases.

Based on geography the Asia Pacific region is poised to capture a major market share and is anticipated to grow at a significant CAGR over the forecast period. The region's large population, notably in China and India, has created a huge demand for 5G equipment. Considering growing urbanization and smartphone penetration, customers are keen to take advantage of the benefits of high-speed 5G networks. Furthermore, Asia Pacific is home to some of the world's major 5G device manufacturers, including top smartphone manufacturers and network equipment suppliers. These local businesses are well-positioned to produce a diversified selection of 5G devices that appeal to a wide range of consumer preferences and pricing ranges. Furthermore, Asian nations such as China and South Korea were at the forefront of 5G network launches, propelling the region's growth even further.

As a part of the report, the major players operating in the global 5G device market, that have been covered are Apple Inc., Samsung Electronics Co., Ltd, Fibocom, MediaTek Inc., Fujikura Ltd, Telit Communications PLC, Siemens, Lenovo.

The market analytics report segments the 5G device market using the following criteria:

• BY DEVICE TYPE

o Smartphones
o Industrial Routers
o FWA CPE
o Modules
o Others

• BY DEPLOYMENT

o Standalone (SA)
o Non-Standalone (NSA)

• BY GEOGRAPHY

o Americas

• United States
• Others

o Europe, Middle East, and Africa

• Germany
• UK
• Others

o Asia Pacific

• China
• Japan
• South Korea
• Others

Companies Profiled:

• Apple Inc.
• Samsung Electronics Co., Ltd
• Fibocom
• MediaTek Inc.
• Fujikura Ltd
• Telit Communications PLC
• Siemens
• Lenovo

Explore More Reports:

• Global 5g Services Market: https://www.knowledge-sourcing.com/report/global-5g-services-market

• 5G Device Testing Equipment Market: https://www.knowledge-sourcing.com/report/5g-device-testing-equipment-market

• 5G Network Security Market: https://www.knowledge-sourcing.com/report/5g-network-security-market

Ankit Mishra
Knowledge Sourcing Intelligence LLP
+1 850-250-1698
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