“Global 5G Testing Equipment Market to reach a market value of USD 3.84 Billion by 2031 growing at a CAGR of 6.7%”
The Global 5G Testing Equipment Market size is expected to reach $3.84 billion by 2031, rising at a market growth of 6.7% CAGR during the forecast period.
The North America region is driven by early adoption of 5G technologies, substantial investments in telecommunications infrastructure, and the presence of leading telecom operators and equipment manufacturers. The region's proactive approach to deploying 5G networks, supported by government initiatives and private sector innovation, has created a high demand for advanced testing equipment. Additionally, the rapid growth of applications such as IoT, autonomous vehicles, and smart cities has further fueled the need for reliable and precise 5G testing tools, solidifying North America’s leadership in the market. Thus, the North America segment procured 43% revenue share in the market in 2023.
The deployment of 5G networks is accelerating at an unprecedented pace globally. According to estimates by the GSM Association, 5G will add as much as $950 billion to the global economy by 2030, with an increasing share from developing countries toward the end of this decade.
The growth of the Internet of Things (IoT) and smart devices has transformed the technological landscape, driving unprecedented demand for reliable, high-performance networks. From industrial sensors and vehicles to wearable fitness monitors and smart home appliances, IoT devices necessitate seamless connectivity. Thus, this growth will also drive the expansion of the market.
However, developing and deploying 5G testing equipment requires substantial capital investment, which poses a significant challenge for small and medium enterprises (SMEs). Designing equipment capable of testing 5G technologies involves advanced components, cutting-edge software, and intricate engineering to support high-frequency bands, massive MIMO, and low-latency applications. Consequently, the high cost associated with this technology can lead to hesitation among potential buyers, particularly those with limited budgets, slowing down market adoption.
The leading players in the market are competing with diverse innovative offerings to remain competitive in the market. The above illustration shows the percentage of revenue shared by some of the leading companies in the market. The leading players of the market are adopting various strategies in order to cater demand coming from the different industries. The key developmental strategies in the market are Acquisitions, and Partnerships & Collaborations.
Based on source, the market is bifurcated into rental and new. The new segment procured 46% revenue share in the market in 2023. Companies investing in new 5G testing equipment benefit from ownership, which allows for greater customization and the ability to conduct frequent or continuous testing without recurring rental fees.
On the basis of equipment, the market is classified into vector signal generators, network analyzers, signal & spectrum analyzers, oscilloscopes, and others. The vector signal generators segment acquired 25% revenue share in the market in 2023. As 5G networks operate on higher frequencies and rely on advanced technologies like beamforming and massive MIMO, accurate signal generation is crucial for validating system performance.
By end use, the market is divided into telecom service providers, telecom equipment manufacturers, original device manufacturers (ODMs), and others. The telecom service providers segment witnessed 37% revenue share in the market in 2023. The telecom service providers segment is primarily driven by the critical need to deploy, optimize, and maintain 5G networks to meet growing consumer and enterprise demands for high-speed connectivity.
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Region-wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The Europe segment acquired 27% revenue share in the market in 2023. The Europe segment is primarily driven by its strong regulatory framework, which emphasizes high-quality standards for 5G networks and necessitates advanced testing equipment.
| Report Attribute | Details |
|---|---|
| Market size value in 2023 | USD 2.32 Billion |
| Market size forecast in 2031 | USD 3.84 Billion |
| Base Year | 2023 |
| Historical Period | 2020 to 2022 |
| Forecast Period | 2024 to 2031 |
| Revenue Growth Rate | CAGR of 6.7% from 2024 to 2031 |
| Number of Pages | 240 |
| Number of Tables | 370 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Porter’s 5 Forces Analysis, Company Profiling, Companies Strategic Developments, SWOT Analysis, Winning Imperatives |
| Segments covered | Source, Equipment, End Use, Region |
| Country scope |
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| Companies Included | Anritsu Corporation, Artiza Networks Inc., EXFO, Inc. (G. Lamonde Investissements Financiers Inc.), Ceragon Networks Ltd., Intertek Group PLC, Keysight Technologies, Inc., MACOM Technology Solutions Holdings, Inc., Rohde & Schwarz GmbH & Co. KG, Teradyne, Inc. and Viavi Solutions, Inc. |
By Source
By Equipment
By End Use
By Geography
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