The 5G testing market valuation was assessed to be around US$ 2.1 billion in 2019. During the historical period, the market expanded with a robust CAGR of 11.4%. In congruence with these numbers, the worth of the market in 2023 was figured out to be around US$ 3.2 billion.
In 2024, the global market for 5G testing is estimated to be nearly US$ 3.6 billion. The market research report hints the year-on-year growth in demand for 5G testing equipment and services is likely to be 8.2% through 2034. The research report further forecasts the worldwide 5G testing industry value to reach US$ 7.8 billion by 2034 end.
“Rising demand for high-speed or low-latency mobile network services has surged the use of 5G network and testing services for its performance. As applications of 5G continue to increase with the advancement of smart devices, IoT, wearables, and linked devices, global 5G testing services are likely to grow steadily,” says an FMI analyst.
Key Takeaways
- The United States, with leading 5G testing service providers, dominates the global market and is expected to advance further at 8.4% CAGR through 2034.
- In Europe, the United Kingdom is currently the leading market for 5G network testing solutions and is likely to progress at 8.6% CAGR through 2034.
- China, the pioneer of 5G technology in Asia, is expected to witness an expansion of its regional market at 9.2% CAGR between 2024 and 2034.
- Japan follows China in the 5G testing equipment and solution market and is projected to follow a higher CAGR of 9.3% through the projected years.
- South Korea is growing remarkably in 5G testing services in Asia currently, with an estimated CAGR of 9.5% till 2034.
Competitive Landscape for the 5G Testing Market Participants
The market is highly fragmented as numerous players have cropped up with the 5G network devices and services expansion in the last few years. However, the 5G testing equipment segment is relatively consolidated as a few leading players have the capacity and capital to keep up with the market trends.
The leading 5G testing equipment manufacturers are putting a lot of effort into advancing the technology to remain competitive with the fast-evolving cellular network technologies. To secure their position, new market players are collaborating and partnering with 5G technology research and development institutes.
Recent Developments by the 5G Testing Industry Players
In May 2023, Tektronix Incorporation introduced the Double Pulse Test solution called WBGDPT to measure wide bandgap devices repeatedly and autonomously. Tektronix is a global supplier of test and measurement solutions, and the WBGPTD system is aimed at supporting significant developments in solar energy, electric cars, and industrial controls.
Anritsu Corp. and Artiza Networks Company teamed up in March 2023 to provide an Open RAN test solution to facilitate multi-vendor sourcing. The Open RAN idea leverages network point standards and the ongoing development of AI applications as a source of business opportunities.
Key Segments Covered by 5G Testing Industry Survey Report
By Offering:
- Hardware
- Services
By End-use Industries:
- IDMs & ODMs
- Telecom Equipment Manufacturers
- Telecom Service Providers
- Other End-use Industries
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia and Pacific
- The Middle East and Africa (MEA)
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