5G Technology Market Regional Analysis:
North America Market Insights
The North America 5G technology market is poised to account for a dominant revenue share of 46.7% throughout the forecast period. The North America market’s growth curve is attributed to substantial investments in mmWave 5G infrastructure. In February 2024, Verizon deployed over 130,000 0-RAN-capable radios across more than 14,500 virtualized sites. Additionally, in August 2023, Pivotal Commware, a leader in 5G mmWave infrastructure products, announced the closing of a USD 100 million Series D funding round.
The U.S. 5G technology market is projected to maintain its leading share in North America. The U.S. is at the forefront of advancements in 5G technology as well as deployment. The trends are supported by the rising consumer demand for faster data speeds. The U.S. market is also impacted by major investments, such as the Public Wireless Supply Chain Innovation Fund, which allocated USD 1.5 billion to develop open and interoperable networks in August 2022. The table below highlights key stats related to 5G for the U.S. market as highlighted by Ericsson’s report.
|
Metric |
Value |
Date |
|---|---|---|
|
Total Cell Sites (all tech) |
350,100–400,100 |
January 2024 |
|
Estimated 5G-Enabled Sites |
~245,100–280,100 (70% of total) |
January 2024 |
|
Small Cell Installations |
~175,200 |
January 2024 |
|
Low-Band 5G Population Coverage |
~301 million (90% of the U.S. population) |
December 2023 |
|
Mid-Band 5G Coverage |
210–301 million |
December 2023 |
APAC Market Insights
Asia Pacific region is set to witness significant growth till 2035. The growth in APAC is primarily attributed to the explosion of high-average revenue per user (ARPU) 5G services, especially in countries such as China and India with a large volume of users. Additionally, APAC has had the largest smartphone user base, and GSMA projects that there will be over 3 billion smartphone connections by 2030. This is expected to create substantial investments in the market.
The China 5G technology market is estimated to hold a leading revenue share in APAC. GSMA estimates that more than 90% of mobile subscriptions will be on 5G networks in China by 2029. The China 5G technology market’s expansion is further attributed to the massive investments in 5G infrastructure, with the MIIT reporting the deployment of more than 4 million 5G base stations in 2024, with the number expected to increase to 4.5 million by the end of 2025.
