5G Testing Equipment Market to Surpass USD 3.51 Billion by 2030, exhibiting a CAGR of 9.7%
As per the report by Fortune Business Insights, the global 5G testing equipment market size is projected to reach USD 3.51 billion in 2030, at a CAGR of 9.7% during the forecast period, 2023-2030
5G Testing Equipment Market
Pune, India, Sept. 11, 2023 (GLOBE NEWSWIRE) — Global 5G testing equipment market size was valued at USD 1.69 billion in 2022 and is projected to reach USD 3.51 billion by 2030, exhibiting a CAGR of 9.7% during the forecast period. Fortune Business Insights presents this information in their latest report titled “Global 5G Testing Equipment Market Forecast, 2023-2030.”
5G testing equipment plays a crucial role in measuring and evaluating the infrastructure of 5G devices. The convenience of using 5G test equipment is enhanced by the growing availability of large data centers. Furthermore, the demand for 5G test equipment is expected to be driven by ongoing research and development efforts aimed at making 5G infrastructure more user-oriented and compliant with industry standards.
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Key Industry Development
June 2023: Keysight Technologies, Inc. launched PathWave Advanced Design System (ADS) 2024, which is capable of accelerating the 5G mmWave product development and testing by providing chip manufacturers with new millimeter wave, sub terahertz wave, and sub-THz frequency abilities.
Key Takeaways
- 5G testing equipment market size in North America was USD 0.56 billion in 2022
- Increased Adoption of Advanced Applications and IoT Connectivity Propels 5G Traffic
- Rising Network Traffic and Expanding Applications Drove Market Amid Pandemic
- Wireless and RF Testing Segment to Witness Higher CAGR due to Increased Wireless Spectrum Usage
Discover the Leading Players Featured in the Report:
“Companies leading the global 5G testing equipment market are Keysight Technologies (U.S.), Anritsu (Japan), VIAVI Solutions Inc. (U.S.), NATIONAL INSTRUMENTS CORP. (U.S.), TEKTRONIX, INC. (U.S.), Artiza Networks, Inc. (Japan), Mobileum (U.S.), Teradyne Inc. (U.S.), Spirent Communications (U.K.), EXFO Inc. (Canada).”
Report Scope & Segmentation
| Report Coverage | Details |
| Forecast Period | 2023 to 2030 |
| Forecast Period 2023 to 2030 CAGR | 9.7% |
| 2030 Value Projection | USD 3.51 Billion |
| Base Year | 2022 |
| 5G Testing Equipment Market Size in 2022 | USD 1.69 Billion |
| Historical Data for | 2019 to 2021 |
| No. of Pages | 160 |
| Segments covered | Equipment Type, Application, End User and Geography |
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Drivers and Restraints
Rising Demand for Fast Mobile Communications Drives Growth in the 5G Market
The demand for fast mobile communications has grown to ensure secure connectivity for connected devices. High-speed internet connectivity supports communication among large-scale IoT devices, and the adoption of advanced multimedia applications has increased 5G traffic. By the end of 2023, an estimated 438 million devices will be connected using 5G, as per Thales Group webinar, driving the market.
However, the high cost of testing and technological complexities are expected to stifle 5G testing equipment market growth.
Segmentation
By Equipment Type
- Oscilloscope
- Signal Generator
- Spectrum Analyzer
- Network Analyzer
- Others (Power Analyzer, Logic Analyzer)
By Application
- Lab Testing
- Performance Testing
- Wireless and RF Testing
By End-User
- Telecom Equipment Manufacturers
- IDMs & ODMs
- Others (Telecom Service Providers)
By Region
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
Regional Insights
North America Dominates the Market Fueled by Extensive Infrastructure Deployment
North America held a significant 5G testing equipment market share in 2022 due to widespread 5G infrastructure deployment and the presence of major network service providers. Early-stage implementations by telecom service providers and ongoing technological advancements contribute to the region’s market dominance.
Europe is poised to witness strong demand for 5G testing services due to the increasing need for higher data transfer speeds in residential and commercial settings.
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Competitive Landscape
Key Players Drive Growth through Strategic Acquisitions and Partnerships
Prominent 5G testing equipment players in the global market are focused on supporting a larger user base and facilitating network connectivity for multiple devices by transitioning to 5G connections. These companies strategically acquire small and local firms to expand their business presence. Additionally, mergers, acquisitions, strategic partnerships, and significant investments in 5G technologies contribute to the increasing demand.
FAQs
How big is the 5G testing equipment market?
The global 5G testing equipment market size was USD 1.69 billion in 2022. It is expected to reach USD 3.51 billion by 2030.
How fast is the 5G testing equipment market growing?
The global 5G testing equipment market will exhibit a CAGR of 9.7% during the forecast period, 2023-2030.
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