The US 5G testing market is expected to grow rapidly at a CAGR of 8.4% (2024-2034) due to the influence of the advanced telecommunications sector. This dynamic growth is fueled by robust 5G network validation solutions and represents a promising technological leap forward.
NEWARK, Del., Jan. 24, 2024 (Globe Newswire) — The global 5G testing market is 3.6 billion USD. Market research reports suggest that the demand for 5G test equipment and services is likely to increase year-on-year. 8.2% CAGR The research report further predicts the value of the global 5G Testing industry to reach. 7.8 billion USD By the end of 2034.
The 5G testing market was valued at approximately USD 2.1 billion in 2019. The market expanded with steady growth. CAGR 11.4% in a historical era.Consistent with these numbers, the market value in 2023 is approximately 3.2 billion dollars.
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Key takeaways from the 5G Testing Market Report:
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The US, with its leading 5G testing service providers, dominates the global market and is expected to further advance at a CAGR of 8.4% until 2034.
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In Europe, the UK is currently the leading market for 5G network testing solutions and is expected to grow at a CAGR of 8.6% until 2034.
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China, a pioneer in 5G technology in Asia, is expected to see its regional market expand at a CAGR of 9.2% between 2024 and 2034.
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Japan follows China in the 5G test equipment and solutions market and is expected to follow a higher CAGR of 9.3% in the coming years.
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South Korea is currently experiencing impressive growth in 5G testing services in Asia, with an estimated CAGR of 9.5% until 2034.
“The 5G testing market is experiencing significant growth due to the rapid adoption of 5G technology globally. As the demand for high-speed connectivity and low-latency communication increases, enterprises and carriers are looking to ensure seamless deployment of 5G. Our findings show that leading companies have diverse opportunities to innovate and meet evolving test requirements in the dynamic landscape of 5G technology. This shows that it is a rapidly growing market. ” – says Sudip Saha, Managing Director and Co-Founder, Future Market Insights.
Report scope:
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detail |
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Estimated market size (2024) |
3.6 billion USD |
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Predicted market size (2034) |
7.8 billion USD |
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Expected growth rate (2024-2034) |
8.2% |
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Forecast period |
From 2024 to 2034 |
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Historical data available |
From 2019 to 2023 |
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market analysis |
Amount is in million or billion US dollars, quantity is in unit |
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Main regions covered |
North America, Latin America, Europe, Middle East and Africa (MEA), East Asia, South Asia, Oceania |
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Main countries covered |
USA, Canada, Brazil, Mexico, Germany, Spain, Italy, France, UK, Russia, China, India, Australia, New Zealand, GCC countries, South Africa |
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Main segments targeted |
By offering, by end use, and by region |
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Overview of major companies |
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Report scope |
Market forecast, company share analysis, competitive intelligence, DROT analysis, market dynamics and challenges, and strategic growth initiatives |
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Customization and pricing |
We also accept requests |
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Competitive environment for 5G test market participants:
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With the expansion of 5G network devices and services over the past few years, a large number of players have entered the market, making the market highly fragmented. However, the 5G test equipment segment is relatively consolidated as a few large companies have the capacity and capital to keep up with market trends.
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Leading 5G test equipment manufacturers are making significant efforts to advance technology in order to remain competitive with rapidly evolving cellular network technology. To secure their position, new market participants are cooperating and partnering with his 5G technology research and development institutions.
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Recent developments from 5G testing industry stakeholders:
In May 2023, Tektronix introduced a double-pulse test solution called WBGDPT to repeatedly and autonomously measure wide bandgap devices. Tektronix is a global supplier of test and measurement solutions, and its WBGPTD systems are intended to support important developments in solar energy, electric vehicles, and industrial controls.
Anritsu Corporation and Artiza Networks Company partnered in March 2023 to provide open RAN test solutions that facilitate multi-vendor procurement. The Open RAN idea leverages network point standards and the continued development of AI applications as a source of business opportunity.
5G Testing Market Segmentation:
By providing:
By end-use industry:
By region:
author:
Sudip Saha is Managing Director and Co-Founder of Future Market Insights, an award-winning market research and consulting firm. Sudip is committed to shaping the market research industry with trusted solutions and is consistently in the media for his thought leadership. His extensive experience in market research and project management in APAC, EMEA and the Americas reflects his growth-oriented approach to clients.
He is a strong believer in innovation-based solutions and emphasizes customized solutions that meet one customer’s requirements at a time. For his foresight and visionary approach, he was recently recognized as a ‘Global Icon in Business Consulting’ at the ET Inspiring Leaders Awards 2022.
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About Future Market Insights (FMI):
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