Wilmington, Delaware, United States, Aug. 01, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The global 5G test equipment market was valued at US$ 5.3 Bn in 2022 and is projected to expand at a CAGR of 23.1% from 2023 to 2031. Increase in advancements in telecommunication networks and rise in adoption of 5G interconnected devices are fueling the global market.
5G is associated with new capabilities, features, and challenges that need to be addressed in the testing phase. This entails testing and validating various critical parameters that are crucial for the successful completion of 5G-enabled services.
Advent of 5G bandwidth is the beginning of a new era of communication that offers promising speeds, enhanced connectivity, and lower latency. Adoption of 5G testing equipment would ensure seamless integration and optimal performance of 5G networks and devices.
5G constitutes network slicing, where the network can be divided into multiple virtual networks to serve various services.
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Market Snapshot:
| Report Coverage | Details | |
| Market Revenue | US$ 5.3 Bn | |
| Estimated Value | US$ 34.3 Bn | |
| Growth Rate - CAGR | 23.1% | |
| Forecast Period | 2023-2031 | |
| No. of Pages | 168 Pages | |
| Market Segmentation | By Type, End-user | |
| Regions Covered | North America, Europe, Asia Pacific, Middle East & Africa, South America | |
| Companies Covered | Anritsu, Keysight Technologies, Rohde & Schwarz, Teradyne Inc., National Instruments Corp., Tektronix Inc., Viavi Solutions Inc., Artiza Networks Inc., EXFO Inc., MACOM, Spirent Communications, Gl Communications Inc. | |
Key Findings of Study
Increase in Advancements in Telecommunication Networks Driving Market Value – Launch of any wireless technology entails thorough testing before it is introduced to businesses or consumers. Testing procedures are becoming more detailed due to increase in advancements in wireless technologies,. This is expected to fuel the 5G test equipment industry in the near future.
5G technology is significantly complex than predecessor telecommunication technologies.
5G introduced several advancements, which include higher frequency bands, beamforming, Multiple-Input, Multiple-Output (MIMO), network slicing, and virtualization. The complexity of 5G is responsible for exciting opportunities as well as challenges, necessitating exhaustive testing & validation for successful deployment and superior performance in real world situations.
Rise in Number of 5G Interconnected Devices Fueling Market Expansion –. Rise in adoption of IoT and increase in demand for seamless & high-speed connectivity across various industries are propelling market demand for 5G test equipment.
Rapid adoption of IoT devices, such as wearables, smart appliances, industrial sensors, and autonomous vehicles, has led to substantial increase in the number of connected devices. 5G offers superior data speeds, higher capacity, and lower latency; hence, it is an ideal solution to provide bandwidth for massive data exchange by these devices.
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Rise in Adoption for Telecom Equipment from Telecom Equipment Manufacturers – Based on end-user, the telecom equipment manufacturers segment is anticipated to account for the leading market share during the forecast period. Telecommunication equipment testing comprises evaluation of the efficiency and dependability of various devices, including routers, modems, switches, and phones, which are used for transmitting and receiving data, voice, and video signals.
Manufacture of 5G devices requires telecommunication equipment companies to adhere to stringent compliance standards. These standards guarantee that the devices satisfy specific requirements and regulations pertaining to safety, performance, and interoperability. Failure to adhere to these standards can result in serious consequences, including high penalties, restricted access to market, and damage to the company’s reputation.
Growth Drivers
- Increase in advancements in telecommunication networks and launch of 5G are fueling the 5G test equipment market
- Rise in the number of 5G interconnected devices is augmenting market growth
Regional Landscape
Asia Pacific is anticipated to account for the leading share of the global 5G test equipment market during the forecast period. Growth of the electronics sector and rise in adoption of smartphones are fueling market statistics in the region.
Expansion of the semiconductor sector is augmenting market dynamics in Asia Pacific. South Korea and China are key manufacturers of a range of semiconductor devices that play critical role in the 5G ecosystem. Increase in adoption of IoT and connected devices is propelling demand for 5G networks, thereby propelling the 5G test equipment market size.
Competitive Analysis
The global landscape is consolidated, with a few large players controlling majority of the market share. Most companies in the 5G test equipment market are focusing on testing of innovative technologies and components to consolidate their position.
Prominent players in the 5G test equipment market include Anritsu, Rohde & Schwarz, National Instruments Corp., and GI Communications, Inc.
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The global 5G test equipment market has been segmented as follows:
Global 5G Test Equipment Market, by Type
- Oscilloscopes
- Vector Signal Generators
- Signal Analyzers
- Network Analyzers
- Conformance Test Systems
- Others
Global 5G Test Equipment Market, by End-user
- Telecom Equipment Manufacturers
- Original Device Manufacturers (ODMs)
- Telecom and Lab Service Providers
- Others
Global 5G Test Equipment Market, by Region
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
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