Global 5G New Radio Market is valued approximately at USD 32.6 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 29.1% over the forecast period 2023-2030. 5G New Radio (NR) is a standard for wireless communication and is a key component of 5G networks. It is designed to enable faster data rates, lower latency, and support a massive number of connected devices compared to previous generations of wireless technology. 5G NR operates in a wide range of frequency bands, including low-frequency bands (sub-1 GHz), mid-frequency bands (1-6 GHz), and high-frequency bands (above 6 GHz). The use of high-frequency bands, such as millimeter waves, allows for greater bandwidth and faster data rates.. The 5G New Radio Market is being driven by factors such as surge in data traffic and increasing use of advanced radio units such as massive MIMO and beamforming.
The 5G NR offers significantly faster data speeds and greater network capacity to meet these increasing data demands. With the proliferation of smartphones, Internet of Things (IoT) devices, and other connected devices, there has been an exponential increase in data consumption worldwide. People are using more data-intensive applications such as video streaming, online gaming, and virtual reality, which require faster and more reliable network connectivity. 5G NR technology is designed to meet these growing demands by providing ultra-fast download and upload speeds, reducing latency for real-time applications, and supporting a massive number of simultaneous connections. According to IDC, the amount of data produced was estimated to reach 35 zettabytes by 2020, but it reached that level in 2018, and in 2020, approximately 59 zettabytes of data were created. IDC predicts that by 2025, newly created data will reach 175 zettabytes, representing a 146-fold increase between 2010 and 2025. This exponential growth in data creation has led to the data processing and storage market's valuation estimated to grow from USD 56 billion in 2020 to USD 90 billion by 2025. Thus, increasing data traffic and data consumption is fueling the growth of the market. In addition to global connectivity & cross-industry collaboration and government initiatives of deployment & adoption of 5G new radio create lucrative opportunities for the market. However, the high cost of 5G infrastructure and regulatory and environmental concerns hinders market growth throughout the forecast period of 2023-2030.
The key regions considered for the Global 5G New Radio Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. Asia Pacific dominated the market in 2022 owing to the presence of prominent manufacturers such as Huawei Technologies Co., Ltd. and Samsung. These manufacturers, known for their expertise in telecommunications and mobile technologies, contribute to the growth and development of 5G networks in the region. Additionally, there is a notable increase in investment aimed at establishing automated factories in the region. Asia Pacific is expected to be the fastest growing region during the forecasted period due to strong focus on technological advancements and industrial automation.
Major market player included in this report are:
- Huawei Technologies Co., Ltd.
- Qualcomm Technologies, Inc
- Telefonaktiebolaget LM Ericsson
- Samsung Electronics Co., Ltd
- Intel Corporation
- Cisco Systems Inc.
- Fujitsu Limited
- NEC Corporation
- Verizon Communications Inc.
- Keysight Technologies
Recent Developments in the Market:
- In November 2023, Ericsson introduced the Ercisson Reduced Capability (RedCap) Radio Access Network (RNA) solution, which aims to unlock new 5G use cases for devices like smartwatches, wearables, and industrial sensors. This innovative solution simplifies network complexities and extends battery life, enabling efficient and optimized connectivity for these devices. With the RedCap RNA solution, Ericsson addresses the specific requirements of these low-power and resource-constrained devices, opening up possibilities for enhanced connectivity and extended battery performance in various industries and applications.
Global 5G New Radio Market Report Scope:
- Historical Data: 2020 - 2021
- Base Year for Estimatio: 2022
- Forecast period: 2023-2030
- Report Coverage: Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
- Segments Covered: Offering, Operating Frequency , Architecture, Application, Industry, Region
- Regional Scope: North America; Europe; Asia Pacific; Latin America; Middle East & Africa
- Customization Scope: Free report customization (equivalent up to 8 analyst's working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Offering:
- Hardware
- Software
- Service
By Operating Frequency:
By Architecture:
- Non-Standalone (NSA)
- Standalone (SA)
By Application:
- Enhanced Mobile Broadband (eMBB)
- Ultra-reliable Low-Latency Communications (URLLC)
- Massive Machine-type Communications (mMTC).
By Industry:
- Telecom & IT
- Manufacturing
- Automotive
- Healthcare
- Retail
- Others
By Region:
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Spain
- Italy
- ROE
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- RoAPAC
- Latin America
- Brazil
- Mexico
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
Table of Contents
Chapter 1. Executive Summary
- 1.1. Market Snapshot
- 1.2. Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Billion)
- 1.2.1. 5G New Radio Market, by region, 2020-2030 (USD Billion)
- 1.2.2. 5G New Radio Market, by Offering, 2020-2030 (USD Billion)
- 1.2.3. 5G New Radio Market, by Operating Frequency, 2020-2030 (USD Billion)
- 1.2.4. 5G New Radio Market, by Architecture, 2020-2030 (USD Billion)
- 1.2.5. 5G New Radio Market, by Application, 2020-2030 (USD Billion)
- 1.2.6. 5G New Radio Market, by Industry, 2020-2030 (USD Billion)
- 1.2.7.
- 1.3. Key Trends
- 1.4. Estimation Methodology
- 1.5. Research Assumption
Chapter 2. Global 5G New Radio Market Definition and Scope
- 2.1. Objective of the Study
- 2.2. Market Definition & Scope
- 2.2.1. Industry Evolution
- 2.2.2. Scope of the Study
- 2.3. Years Considered for the Study
- 2.4. Currency Conversion Rates
Chapter 3. Global 5G New Radio Market Dynamics
- 3.1. 5G New Radio Market Impact Analysis (2020-2030)
- 3.1.1. Market Drivers
- 3.1.1.1. Increasing data traffic
- 3.1.1.2. Increasing use of advanced radio units such as massive MIMO and beamforming
- 3.1.2. Market Challenges
- 3.1.2.1. High cost of 5G infrastructure
- 3.1.2.2. Regulatory and Environmental Concerns
- 3.1.3. Market Opportunities
- 3.1.3.1. Government Initiatives of deployment and adoption of 5G NR
- 3.1.3.2. Global Connectivity and Cross-Industry Collaboration
Chapter 4. Global 5G New Radio Market: Industry Analysis
- 4.1. Porter's 5 Force Model
- 4.1.1. Bargaining Power of Suppliers
- 4.1.2. Bargaining Power of Buyers
- 4.1.3. Threat of New Entrants
- 4.1.4. Threat of Substitutes
- 4.1.5. Competitive Rivalry
- 4.2. Porter's 5 Force Impact Analysis
- 4.3. PEST Analysis
- 4.3.1. Political
- 4.3.2. Economic
- 4.3.3. Social
- 4.3.4. Technological
- 4.3.5. Environmental
- 4.3.6. Legal
- 4.4. Top investment opportunity
- 4.5. Top winning strategies
- 4.6. COVID-19 Impact Analysis
- 4.7. Disruptive Trends
- 4.8. Industry Expert Perspective
- 4.9. Analyst Recommendation & Conclusion
Chapter 5. Global 5G New Radio Market, by Offering
- 5.1. Market Snapshot
- 5.2. Global 5G New Radio Market by Offering, Performance - Potential Analysis
- 5.3. Global 5G New Radio Market Estimates & Forecasts by Offering 2020-2030 (USD Billion)
- 5.4. 5G New Radio Market , Sub Segment Analysis
- 5.4.1. Hardware
- 5.4.2. Software
- 5.4.3. Service
Chapter 6. Global 5G New Radio Market, by Operating Frequency
- 6.1. Market Snapshot
- 6.2. Global 5G New Radio Market by Operating Frequency , Performance - Potential Analysis
- 6.3. Global 5G New Radio Market Estimates & Forecasts by Operating Frequency 2020-2030 (USD Billion)
- 6.4. 5G New Radio Market , Sub Segment Analysis
- 6.4.1. Sub-6 GHz
- 6.4.2. mmWave
Chapter 7. Global 5G New Radio Market, by Architecture
- 7.1. Market Snapshot
- 7.2. Global 5G New Radio Market by Architecture, Performance - Potential Analysis
- 7.3. Global 5G New Radio Market Estimates & Forecasts by Architecture 2020-2030 (USD Billion)
- 7.4. 5G New Radio Market , Sub Segment Analysis
- 7.4.1. Human Non-Standalone (NSA)
- 7.4.2. Standalone (SA)
Chapter 8. Global 5G New Radio Market, by Application
- 8.1. Market Snapshot
- 8.2. Global 5G New Radio Market by Application, Performance - Potential Analysis
- 8.3. Global 5G New Radio Market Estimates & Forecasts by Application 2020-2030 (USD Billion)
- 8.4. 5G New Radio Market , Sub Segment Analysis
- 8.4.1. Enhanced Mobile Broadband (eMBB)
- 8.4.2. Ultra-reliable Low-Latency Communications (URLLC)
- 8.4.3. Massive Machine-type Communications (mMTC).
Chapter 9. Global 5G New Radio Market, by Industry
- 9.1. Market Snapshot
- 9.2. Global 5G New Radio Market by Industry, Performance - Potential Analysis
- 9.3. Global 5G New Radio Market Estimates & Forecasts by Industry 2020-2030 (USD Billion)
- 9.4. 5G New Radio Market , Sub Segment Analysis
- 9.4.1. Telecom & IT
- 9.4.2. Manufacturing
- 9.4.3. Automotive
- 9.4.4. Healthcare
- 9.4.5. Retail
- 9.4.6. Others
Chapter 10. Global 5G New Radio Market, Regional Analysis
- 10.1. Top Leading Countries
- 10.2. Top Emerging Countries
- 10.3. 5G New Radio Market , Regional Market Snapshot
- 10.4. North America 5G New Radio Market
- 10.4.1. U.S. 5G New Radio Market
- 10.4.1.1. Offering breakdown estimates & forecasts, 2020-2030
- 10.4.1.2. Operating Frequency breakdown estimates & forecasts, 2020-2030
- 10.4.1.3. Architecture breakdown estimates & forecasts, 2020-2030
- 10.4.1.4. Application breakdown estimates & forecasts, 2020-2030
- 10.4.1.5. Industry breakdown estimates & forecasts, 2020-2030
- 10.4.2. Canada 5G New Radio Market
- 10.5. Europe 5G New Radio Market Snapshot
- 10.5.1. U.K. 5G New Radio Market
- 10.5.2. Germany 5G New Radio Market
- 10.5.3. France 5G New Radio Market
- 10.5.4. Spain 5G New Radio Market
- 10.5.5. Italy 5G New Radio Market
- 10.5.6. Rest of Europe 5G New Radio Market
- 10.6. Asia-Pacific 5G New Radio Market Snapshot
- 10.6.1. China 5G New Radio Market
- 10.6.2. India 5G New Radio Market
- 10.6.3. Japan 5G New Radio Market
- 10.6.4. Australia 5G New Radio Market
- 10.6.5. South Korea 5G New Radio Market
- 10.6.6. Rest of Asia Pacific 5G New Radio Market
- 10.7. Latin America 5G New Radio Market Snapshot
- 10.7.1. Brazil 5G New Radio Market
- 10.7.2. Mexico 5G New Radio Market
- 10.8. Middle East & Africa 5G New Radio Market
- 10.8.1. Saudi Arabia 5G New Radio Market
- 10.8.2. South Africa 5G New Radio Market
- 10.8.3. Rest of Middle East & Africa 5G New Radio Market
Chapter 11. Competitive Intelligence
- 11.1. Key Company SWOT Analysis
- 11.1.1. Company 1
- 11.1.2. Company 2
- 11.1.3. Company 3
- 11.2. Top Market Strategies
- 11.3. Company Profiles
- 11.3.1. Huawei Technologies Co., Ltd.
- 11.3.1.1. Key Information
- 11.3.1.2. Overview
- 11.3.1.3. Financial (Subject to Data Availability)
- 11.3.1.4. Product Summary
- 11.3.1.5. Recent Developments
- 11.3.2. Qualcomm Technologies, Inc
- 11.3.3. Telefonaktiebolaget LM Ericsson
- 11.3.4. Samsung Electronics Co., Ltd
- 11.3.5. Intel Corporation
- 11.3.6. Cisco Systems Inc.
- 11.3.7. Fujitsu Limited
- 11.3.8. NEC Corporation
- 11.3.9. Verizon Communications Inc.
- 11.3.10. Keysight Technologies
Chapter 12. Research Process
- 12.1. Research Process
- 12.1.1. Data Mining
- 12.1.2. Analysis
- 12.1.3. Market Estimation
- 12.1.4. Validation
- 12.1.5. Publishing
- 12.2. Research Attributes
- 12.3. Research Assumption