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Global 5G New Radio Market to reach USD 251.37 billion by the end of 2030.

Global 5G New Radio Market Size study & Forecast, by Offering (Hardware, Software, Service) by Operating Frequency (Sub-6 GHz, mmWave), by Architecture (Non-Standalone (NSA), Standalone (SA)), by Application (Enhanced Mobile Broadband (eMBB), Ultra-reliable Low-Latency Communications (URLLC), Massive Machine-type Communications (mMTC)), by Industry(Telecom & IT, Manufacturing, Automotive, Healthcare, Retail, Others) and Regional Analysis, 2023-2030

Product Code: ICTICTI-93187532
Publish Date: 20-07-2023
Page: 200

Global 5G New Radio Market is valued approximately at USD 32.6 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 29.1% over the forecast period 2023-2030. 5G New Radio (NR) is a standard for wireless communication and is a key component of 5G networks. It is designed to enable faster data rates, lower latency, and support a massive number of connected devices compared to previous generations of wireless technology. 5G NR operates in a wide range of frequency bands, including low-frequency bands (sub-1 GHz), mid-frequency bands (1-6 GHz), and high-frequency bands (above 6 GHz). The use of high-frequency bands, such as millimeter waves, allows for greater bandwidth and faster data rates.. The 5G New Radio Market is being driven by factors such as surge in data traffic and increasing use of advanced radio units such as massive MIMO and beamforming.

The 5G NR offers significantly faster data speeds and greater network capacity to meet these increasing data demands. With the proliferation of smartphones, Internet of Things (IoT) devices, and other connected devices, there has been an exponential increase in data consumption worldwide. People are using more data-intensive applications such as video streaming, online gaming, and virtual reality, which require faster and more reliable network connectivity. 5G NR technology is designed to meet these growing demands by providing ultra-fast download and upload speeds, reducing latency for real-time applications, and supporting a massive number of simultaneous connections. According to IDC, the amount of data produced was estimated to reach 35 zettabytes by 2020, but it reached that level in 2018, and in 2020, approximately 59 zettabytes of data were created. IDC predicts that by 2025, newly created data will reach 175 zettabytes, representing a 146-fold increase between 2010 and 2025. This exponential growth in data creation has led to the data processing and storage market’s valuation estimated to grow from USD 56 billion in 2020 to USD 90 billion by 2025. Thus, increasing data traffic and data consumption is fueling the growth of the market. In addition to global connectivity & cross-industry collaboration and government initiatives of deployment & adoption of 5G new radio create lucrative opportunities for the market. However, the high cost of 5G infrastructure and regulatory and environmental concerns hinders market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global 5G New Radio Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. Asia Pacific dominated the market in 2022 owing to the presence of prominent manufacturers such as Huawei Technologies Co., Ltd. and Samsung. These manufacturers, known for their expertise in telecommunications and mobile technologies, contribute to the growth and development of 5G networks in the region. Additionally, there is a notable increase in investment aimed at establishing automated factories in the region. Asia Pacific is expected to be the fastest growing region during the forecasted period due to strong focus on technological advancements and industrial automation.

Major market player included in this report are:
Huawei Technologies Co., Ltd.
Qualcomm Technologies, Inc
Telefonaktiebolaget LM Ericsson
Samsung Electronics Co., Ltd
Intel Corporation
Cisco Systems Inc.
Fujitsu Limited
NEC Corporation
Verizon Communications Inc.
Keysight Technologies

Recent Developments in the Market:
Ø In November 2023, Ericsson introduced the Ercisson Reduced Capability (RedCap) Radio Access Network (RNA) solution, which aims to unlock new 5G use cases for devices like smartwatches, wearables, and industrial sensors. This innovative solution simplifies network complexities and extends battery life, enabling efficient and optimized connectivity for these devices. With the RedCap RNA solution, Ericsson addresses the specific requirements of these low-power and resource-constrained devices, opening up possibilities for enhanced connectivity and extended battery performance in various industries and applications.

Global 5G New Radio Market Report Scope:
ü Historical Data – 2020 – 2021
ü Base Year for Estimation – 2022
ü Forecast period – 2023-2030
ü Report Coverage – Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
ü Segments Covered – Offering, Operating Frequency , Architecture, Application, Industry, Region
ü Regional Scope – North America; Europe; Asia Pacific; Latin America; Middle East & Africa
ü Customization Scope – Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Offering:

By Operating Frequency:
Sub-6 GHz

By Architecture:
Non-Standalone (NSA)
Standalone (SA)

By Application:
Enhanced Mobile Broadband (eMBB)
Ultra-reliable Low-Latency Communications (URLLC)
Massive Machine-type Communications (mMTC).

By Industry:
Telecom & IT

By Region:

North America


Asia Pacific
South Korea

Latin America

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Billion)
1.2.1. 5G New Radio Market, by region, 2020-2030 (USD Billion)
1.2.2. 5G New Radio Market, by Offering, 2020-2030 (USD Billion)
1.2.3. 5G New Radio Market, by Operating Frequency, 2020-2030 (USD Billion)
1.2.4. 5G New Radio Market, by Architecture, 2020-2030 (USD Billion)
1.2.5. 5G New Radio Market, by Application, 2020-2030 (USD Billion)
1.2.6. 5G New Radio Market, by Industry, 2020-2030 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global 5G New Radio Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Industry Evolution
2.2.2. Scope of the Study
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global 5G New Radio Market Dynamics
3.1. 5G New Radio Market Impact Analysis (2020-2030)
3.1.1. Market Drivers Increasing data traffic Increasing use of advanced radio units such as massive MIMO and beamforming
3.1.2. Market Challenges High cost of 5G infrastructure Regulatory and Environmental Concerns
3.1.3. Market Opportunities Government Initiatives of deployment and adoption of 5G NR Global Connectivity and Cross-Industry Collaboration
Chapter 4. Global 5G New Radio Market: Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.2. Porter’s 5 Force Impact Analysis
4.3. PEST Analysis
4.3.1. Political
4.3.2. Economic
4.3.3. Social
4.3.4. Technological
4.3.5. Environmental
4.3.6. Legal
4.4. Top investment opportunity
4.5. Top winning strategies
4.6. COVID-19 Impact Analysis
4.7. Disruptive Trends
4.8. Industry Expert Perspective
4.9. Analyst Recommendation & Conclusion
Chapter 5. Global 5G New Radio Market, by Offering
5.1. Market Snapshot
5.2. Global 5G New Radio Market by Offering, Performance – Potential Analysis
5.3. Global 5G New Radio Market Estimates & Forecasts by Offering 2020-2030 (USD Billion)
5.4. 5G New Radio Market , Sub Segment Analysis
5.4.1. Hardware
5.4.2. Software
5.4.3. Service
Chapter 6. Global 5G New Radio Market, by Operating Frequency
6.1. Market Snapshot
6.2. Global 5G New Radio Market by Operating Frequency , Performance – Potential Analysis
6.3. Global 5G New Radio Market Estimates & Forecasts by Operating Frequency 2020-2030 (USD Billion)
6.4. 5G New Radio Market , Sub Segment Analysis
6.4.1. Sub-6 GHz
6.4.2. mmWave
Chapter 7. Global 5G New Radio Market, by Architecture
7.1. Market Snapshot
7.2. Global 5G New Radio Market by Architecture, Performance – Potential Analysis
7.3. Global 5G New Radio Market Estimates & Forecasts by Architecture 2020-2030 (USD Billion)
7.4. 5G New Radio Market , Sub Segment Analysis
7.4.1. Human Non-Standalone (NSA)
7.4.2. Standalone (SA)
Chapter 8. Global 5G New Radio Market, by Application
8.1. Market Snapshot
8.2. Global 5G New Radio Market by Application, Performance – Potential Analysis
8.3. Global 5G New Radio Market Estimates & Forecasts by Application 2020-2030 (USD Billion)
8.4. 5G New Radio Market , Sub Segment Analysis
8.4.1. Enhanced Mobile Broadband (eMBB)
8.4.2. Ultra-reliable Low-Latency Communications (URLLC)
8.4.3. Massive Machine-type Communications (mMTC).
Chapter 9. Global 5G New Radio Market, by Industry
9.1. Market Snapshot
9.2. Global 5G New Radio Market by Industry, Performance – Potential Analysis
9.3. Global 5G New Radio Market Estimates & Forecasts by Industry 2020-2030 (USD Billion)
9.4. 5G New Radio Market , Sub Segment Analysis
9.4.1. Telecom & IT
9.4.2. Manufacturing
9.4.3. Automotive
9.4.4. Healthcare
9.4.5. Retail
9.4.6. Others
Chapter 10. Global 5G New Radio Market, Regional Analysis
10.1. Top Leading Countries
10.2. Top Emerging Countries
10.3. 5G New Radio Market , Regional Market Snapshot
10.4. North America 5G New Radio Market
10.4.1. U.S. 5G New Radio Market Offering breakdown estimates & forecasts, 2020-2030 Operating Frequency breakdown estimates & forecasts, 2020-2030 Architecture breakdown estimates & forecasts, 2020-2030 Application breakdown estimates & forecasts, 2020-2030 Industry breakdown estimates & forecasts, 2020-2030
10.4.2. Canada 5G New Radio Market
10.5. Europe 5G New Radio Market Snapshot
10.5.1. U.K. 5G New Radio Market
10.5.2. Germany 5G New Radio Market
10.5.3. France 5G New Radio Market
10.5.4. Spain 5G New Radio Market
10.5.5. Italy 5G New Radio Market
10.5.6. Rest of Europe 5G New Radio Market
10.6. Asia-Pacific 5G New Radio Market Snapshot
10.6.1. China 5G New Radio Market
10.6.2. India 5G New Radio Market
10.6.3. Japan 5G New Radio Market
10.6.4. Australia 5G New Radio Market
10.6.5. South Korea 5G New Radio Market
10.6.6. Rest of Asia Pacific 5G New Radio Market
10.7. Latin America 5G New Radio Market Snapshot
10.7.1. Brazil 5G New Radio Market
10.7.2. Mexico 5G New Radio Market
10.8. Middle East & Africa 5G New Radio Market
10.8.1. Saudi Arabia 5G New Radio Market
10.8.2. South Africa 5G New Radio Market
10.8.3. Rest of Middle East & Africa 5G New Radio Market

Chapter 11. Competitive Intelligence
11.1. Key Company SWOT Analysis
11.1.1. Company 1
11.1.2. Company 2
11.1.3. Company 3
11.2. Top Market Strategies
11.3. Company Profiles
11.3.1. Huawei Technologies Co., Ltd. Key Information Overview Financial (Subject to Data Availability) Product Summary Recent Developments
11.3.2. Qualcomm Technologies, Inc
11.3.3. Telefonaktiebolaget LM Ericsson
11.3.4. Samsung Electronics Co., Ltd
11.3.5. Intel Corporation
11.3.6. Cisco Systems Inc.
11.3.7. Fujitsu Limited
11.3.8. NEC Corporation
11.3.9. Verizon Communications Inc.
11.3.10. Keysight Technologies
Chapter 12. Research Process
12.1. Research Process
12.1.1. Data Mining
12.1.2. Analysis
12.1.3. Market Estimation
12.1.4. Validation
12.1.5. Publishing
12.2. Research Attributes
12.3. Research Assumption

At Bizwit Research and Consultancy, we employ a thorough and iterative research methodology with the goal of minimizing discrepancies, ensuring the provision of highly accurate estimates and predictions over the forecast period. Our approach involves a combination of bottom-up and top-down strategies to effectively segment and estimate quantitative aspects of the market, utilizing our proprietary data & AI tools. Our Proprietary Tools allow us for the creation of customized models specific to the research objectives. This enables us to develop tailored statistical models and forecasting algorithms to estimate market trends, future growth, or consumer behavior. The customization enhances the accuracy and relevance of the research findings.
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Data Collection:
To determine the appropriate methods of data collection based on the research objectives, we consider both primary and secondary sources. Primary data collection involves gathering information directly from various industry experts in core and related fields, original equipment manufacturers (OEMs), vendors, suppliers, technology developers, alliances, and organizations. These sources encompass all segments of the value chain within the specific industry. Through in-depth interviews, we engage with key industry participants, subject-matter experts, C-level executives of major market players, industry consultants, and other relevant experts. This allows us to obtain and validate critical qualitative and quantitative information while evaluating market prospects. AI and Big Data are instrumental in our primary research, providing us with powerful tools to collect, analyze, and derive insights from data efficiently. These technologies contribute to the advancement of research methodologies, enabling us to make data-driven decisions and uncover valuable findings.
In addition to primary sources, we extensively utilize secondary sources to enhance our research. These include directories, databases, journals focusing on related industries, company newsletters, and information portals such as Bloomberg, D&B Hoovers, and Factiva. These secondary sources enable us to identify and gather valuable information for our comprehensive, technical, market-oriented, and commercial study of the market. Additionally, we utilize AI algorithms to automate the collection of vast amounts of data from various sources such as surveys, social media platforms, online transactions, and web scraping. And employ Big Data technologies for storage and processing of large datasets, ensuring that no valuable information is missed during the data collection process.
Data Analysis:
Our team of experts carefully examine the gathered data using suitable statistical techniques and qualitative analysis methods. For quantitative analysis, we employ descriptive statistics, regression analysis, and other advanced statistical methods, depending on the characteristics of the data. This analysis may also incorporate the utilization of AI tools and big data analysis techniques to extract meaningful insights.
To ensure the accuracy and reliability of our findings, we extensively leverage data science techniques, which help us minimize discrepancies and uncertainties in our analysis. We employ Data Science to clean and preprocess the data, ensuring its quality and reliability. This involves handling missing data, removing outliers, standardizing variables, and transforming data into suitable formats for analysis. The application of data science techniques enhances our accuracy, efficiency, and depth of analysis, enabling us to stay competitive in dynamic market environments.
Market Size Estimation:
Our proprietary data tools play a crucial role in deriving our market estimates and forecasts. Each study involves the creation of a unique and customized model. The model incorporates the gathered information on market dynamics, technology landscape, application development, and pricing trends. AI techniques, such as machine learning and deep learning, aid us to analyze patterns within the data to identify correlations, trends, and relationships. By recognizing patterns in consumer behavior, purchasing habits, or market dynamics, our AI algorithms aid us in more precise estimations of market size. These factors are simultaneously analyzed within the model, allowing for a comprehensive assessment. To quantify their impact over the forecast period, correlation, regression, and time series analysis are employed.
To estimate and validate the market size, we employ both top-down and bottom-up approaches. The preference is given to a bottom-up approach, where key regional markets are analyzed as separate entities. This data is then integrated to obtain global estimates. This approach is crucial as it provides a deep understanding of the industry and helps minimize errors.
In our forecasting process, we consider various parameters such as economic tools, technological analysis, industry experience, and domain expertise. By taking all these factors into account, we strive to produce accurate and reliable market forecasts. When forecasting, we take into consideration several parameters, which include:
Market driving trends and favorable economic conditions
Restraints and challenges that are expected to be encountered during the forecast period.
Anticipated opportunities for growth and development
Technological advancements and projected developments in the market
Consumer spending trends and dynamics
Shifts in consumer preferences and behaviors.
The current state of raw materials and trends in supply versus pricing
Regulatory landscape and expected changes or developments.
The existing capacity in the market and any expected additions or expansions up to the end of the forecast period.
To assess the market impact of these parameters, we assign weights to each one and utilize weighted average analysis. This process allows us to quantify their influence on the market and derive an expected growth rate for the forecasted period. By considering these various factors and applying a weighted analysis approach, we strive to provide accurate and reliable market forecasts.
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