Global 5G Testing Equipment Market Insights 2024, Forecast To 2033
17 Apr, 2024
The 5G testing equipment market size has seen significant growth in recent years, with a rise from $2.25 billion in 2023 to $2.48 billion in 2024, reflecting a compound annual growth rate (CAGR) of 10.3%. This growth is primarily fueled by increased bandwidth demand, the emergence of IoT and connected devices, global standardization efforts, rapid 5G infrastructure deployment, and the necessity for quality of service (QoS) and quality of experience (QoE). Looking ahead, the market is poised for continued robust expansion, projected to reach $3.48 billion in 2028, showcasing a CAGR of 8.9%. Factors contributing to this growth include the ongoing expansion of 5G networks, heightened adoption of 5G devices, the emergence of vertical industries, the transition to standalone (SA) 5G networks, and the deployment of private 5G networks. Noteworthy trends in the forecast period encompass the integration of AI and machine learning, expanded millimeter wave testing, emphasis on network slicing testing, the ascent of cloud-native testing solutions, and enhanced security testing capabilities.
Global 5G Testing Equipment Market Key Driver
The increasing number of autonomous automobiles is expected to propel the growth of the 5G testing equipment market in the coming years. An autonomous automobile, additionally referred to as a self-driving car or a driverless vehicle, is a vehicle that operates without human involvement, perceives its surroundings, and carries out vital activities without human intervention. The number of autonomous automobiles is increasing due to technological advancements, market demand for safer and more efficient transportation, and regulatory initiatives promoting autonomous vehicle deployment. 5G testing equipment in autonomous vehicles offers dependable and low-latency connections for real-time data transmission, resulting in improved vehicle communication, navigation, and safety features. For instance, in December 2022, according to a report published by the Insurance Institute for Highway Safety, a US-based non-profit organization, it is expected that there will be 3.5 million autonomous vehicles or self-driving cars on American roads by 2025, and 4.5 million autonomous vehicles by 2030. Therefore, the increasing number of autonomous automobiles drives the 5G testing equipment market. In 2023, the market size for 5G testing equipment was significant, and it is poised to further expand in 2024 and 2028.
Get A Free Sample Of The Global 5G Testing Equipment Market ReportGlobal 5G Testing Equipment Market Segments
The 5G testing equipment market covered in this report is segmented –
1) By Equipment Type: Oscilloscopes, Signal Generators, Spectrum Analyzers, Network Analyzers, Other Equipment Types
2) By Revenue Source: New, Rental
3) By Application: Lab Testing, Performance Testing, Wireless And RF Testing
4) By End-User: Telecom Equipment Manufacturers, Original Device Manufacturers (ODMs), Telecom Service Providers, Other End-Users
By Geography:The regions covered in the 5G testing equipment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
North America was the largest region in the 5G testing equipment market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the 5G testing equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Major 5G Testing Equipment Market Industry Players
AT&T Inc., Tektronix, Keysight Technologies Inc, Intertek Group plc, Molex LLC, Rohde & Schwarz, VIAVI Solutions Inc., Trex Enterprises Corporation, MACOM Technology Solutions, Spirent Communications plc, LitePoint, EXFO Inc., Inseego Corp., Microlease PLC, SIGLENT Technologies, ETS Lindgren ltd, Prisma Telecom Testing, Azimuth Systems, TMY Technology Inc., Anritsu Corporation, PCTEST Engineering Laboratory In, Calnex Solutions Ltd., Amarisoft, RADX Technologies, Boonton Electronics, ThinkRF Corp., Fibocom Wireless Inc.
Get The Full Global 5G Testing Equipment Market Report5G Testing Equipment Market Overview
5G testing equipment involves a variety of tools and instruments used to evaluate, analyze, and validate the efficiency, performance, and compatibility of 5G network components, devices, and services. These testing solutions guarantee the accuracy, effectiveness, and quality of 5G infrastructure and associated technologies.
5G Testing Equipment Global Market Report 2023 provides data on the global 5g testing equipment market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The 5g testing equipment market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.