According to SPER Market Research, The latest and most advanced technology for mobile networks is 5G, which boasts faster internet speeds, lower latency, and increased network reliability. The hardware and devices that support this fifth-generation technology are called 5G equipment and devices. These include smartphones, tablets, routers, and other mobile devices that are designed to communicate with 5G-enabled cellular towers responsible for data transmission and reception across the network.
- Forecast CAGR (2022-2032): 32.96%
- Forecast Market Size (2032): 573.95 billion
Compared to previous generations of mobile networks, 5G technology utilizes high-frequency radio waves that enable much faster data transfer rates. This translates to significantly faster data downloads and uploads, smoother video streaming with less buffering, and a seamless online experience for users.
North America 5G Equipment and Device Market Driving Factors and Challenges:
The North American 5G equipment and device market is expected to grow at a CAGR of 32.96% and reach US$ 573.95 Bn by 2032 due to several factors. These include the increasing demand for faster and more reliable internet connectivity, the need for increased network capacity to support the growing number of connected devices and data, the adoption of cloud and edge computing technologies, and the impact of the COVID-19 pandemic. These factors drive the demand for 5G technology to support the growing number of mobile devices, including IoT devices such as smart homes, wearables, and autonomous vehicles.
However, the North American 5G equipment and device market faces several challenges despite the growing demand. One of the primary challenges is the high cost of deploying and maintaining 5G infrastructure, which can be a significant barrier for smaller telecommunications companies and rural areas. Another challenge is ensuring the security of 5G networks due to the increased use of connected devices and the potential for cyberattacks, requiring robust cybersecurity measures and protocols to protect against unauthorized access or interference.
Impact of COVID-19 on North America 5G Equipment and Device Market:
The North American 5G Equipment and Device Market witnessed a positive impact from the Covid-19 pandemic because of the critical role played by the mobile industry. During the pandemic, people relied on mobile networks to access important services and stay connected, emphasizing their importance. The pandemic also hastened the adoption of remote work and online learning, which boosted the demand for high-speed internet connectivity and devices that are 5G-enabled.
North America 5G Equipment and Device Market Key Players:
The market study provides market data by the competitive landscape, revenue analysis, market segments and detailed analysis of key market players such as; Anritsu, AT&T Intellectual Property, BEC Technology, Cisco System Inc, Ericsson, Huawei Technologies Co. Ltd, NEC Corporation, Nokia, Samsung, Verizon, ZTE Corporation.
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North America 5G Equipment and Device Market Segmentation:
By Equipment vs Device: Based on the Equipment vs Device, North America 5G Equipment and Device Market is segmented as; Equipment, Device.
By Testing Equipment: Based on the Testing Equipment, North America 5G Equipment and Device Market is segmented as; Oscilloscopes, Signal and Spectrum Testing, Vector Signal Generator, Network analyzer, Others.
By Network Infrastructure: Based on the Network Infrastructure, North America 5G Equipment and Device Market is segmented as; Macro Cell, Small Cell.
By Frequency: Based on the Frequency, North America 5G Equipment and Device Market is segmented as; High-Band (mm Wave), Mid-Band (sub 6 Ghz), Low-Band (sub 1Ghz).
By Device: Based on the Device, North America 5G Equipment and Device Market is segmented as Smartphones, Tablets, 5G Hotspot Devices, Laptop, Others.
By End User: Based on the End User, North America 5G Equipment and Device Market is segmented as; Individual, Industrial/Commercial Organizations, Government.
By Region: This report also provides the data for key regional segments of the United States, Mexico, Canada, Rest of North America. The GSM Association report for 2022 stipulates that in the US, 5G technology accounted for 3% of the technology mix in 2020 and is projected to make up 68% of the technology mix by 2025.
This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.
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