5G New Radio

Global 5G New Radio Market to Reach US$291.7 Billion by 2030

The global market for 5G New Radio estimated at US$59.9 Billion in the year 2024, is expected to reach US$291.7 Billion by 2030, growing at a CAGR of 30.2% over the analysis period 2024-2030. 5G New Radio Hardware, one of the segments analyzed in the report, is expected to record a 33.1% CAGR and reach US$195.9 Billion by the end of the analysis period. Growth in the 5G New Radio Software segment is estimated at 27.2% CAGR over the analysis period.

The U.S. Market is Estimated at US$15.7 Billion While China is Forecast to Grow at 28.5% CAGR

The 5G New Radio market in the U.S. is estimated at US$15.7 Billion in the year 2024. China, the world`s second largest economy, is forecast to reach a projected market size of US$43.6 Billion by the year 2030 trailing a CAGR of 28.5% over the analysis period 2024-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 28.0% and 25.8% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 20.6% CAGR.

Global 5G New Radio Market - Key Trends & Drivers Summarized

What Is Driving the Growth of the 5G New Radio Market?

The rapid deployment of 5G networks worldwide is a primary driver of the 5G New Radio market. As telecom operators expand their 5G infrastructure, 5G NR technology is being adopted as the global standard for radio access. Its ability to deliver ultra-reliable low-latency communication, massive device connectivity, and high-speed data transfer makes it a critical enabler for advanced applications such as autonomous vehicles, smart cities, and industrial IoT. The increasing demand for enhanced connectivity across industries is propelling the adoption of 5G NR solutions.

Another significant driver is the growing reliance on high-bandwidth applications, including video streaming, online gaming, and virtual reality (VR). These applications require fast and reliable networks to provide seamless user experiences, and 5G NR delivers the necessary capabilities. The technology’s use of wide frequency bands, including millimeter-wave (mmWave) spectrum, ensures higher data transfer speeds and capacity, making it ideal for supporting bandwidth-intensive applications.

The integration of 5G NR with IoT ecosystems is also accelerating market growth. IoT devices, ranging from smart appliances to industrial sensors, require robust and scalable networks for reliable operation. 5G NR supports massive machine-type communication (mMTC) and ultra-reliable low-latency communication (URLLC), enabling IoT deployments across various industries. This capability is particularly valuable for use cases such as remote monitoring, predictive maintenance, and autonomous systems, driving the demand for 5G NR solutions.

How Are Technological Advancements Shaping the 5G New Radio Market?

Advancements in antenna technology and network architecture are significantly shaping the 5G New Radio market. One of the most notable innovations is the deployment of Massive Multiple Input, Multiple Output (Massive MIMO) technology. Massive MIMO uses multiple antennas to transmit and receive signals, enhancing network capacity and efficiency. This technology is critical for improving spectral efficiency and ensuring reliable connectivity in densely populated urban areas, where network demand is high.

The adoption of dynamic spectrum sharing (DSS) is another key trend. DSS allows telecom operators to use existing LTE infrastructure to deploy 5G NR, enabling a smooth and cost-effective transition to 5G. By sharing spectrum resources between 4G and 5G, DSS reduces the need for additional spectrum investments and accelerates the rollout of 5G networks. This capability is helping operators expand their 5G coverage while maintaining service quality for existing LTE users.

The evolution of standalone (SA) 5G architecture is also driving innovation in the market. Unlike non-standalone (NSA) 5G, which relies on 4G infrastructure, SA 5G uses a dedicated 5G core network, offering enhanced performance and flexibility. SA 5G architecture enables advanced features such as network slicing, ultra-low latency, and improved energy efficiency, making it ideal for mission-critical applications and industrial use cases. As more operators adopt SA 5G, the demand for 5G NR solutions is expected to grow significantly.

What Are the Benefits of 5G New Radio for Industries and Consumers?

For industries, 5G New Radio provides unparalleled opportunities to enhance efficiency, productivity, and innovation. The technology supports advanced applications such as industrial automation, real-time monitoring, and remote operations. In manufacturing, for example, 5G NR enables the deployment of IoT sensors and robotics, improving production efficiency and reducing downtime. In healthcare, it supports telemedicine, remote surgeries, and connected medical devices, enhancing patient care and outcomes. By delivering reliable and high-speed connectivity, 5G NR empowers industries to adopt smart technologies and optimize operations.

Consumers also benefit significantly from 5G New Radio. The technology delivers faster download and upload speeds, reduced latency, and improved network reliability, ensuring a superior connectivity experience. These features are particularly valuable for activities such as streaming high-definition videos, online gaming, and using VR applications. 5G NR also enhances the performance of smart home devices and wearables, enabling seamless integration and operation. By providing consistent and high-quality connectivity, 5G NR transforms how consumers interact with technology and access digital services.

Additionally, 5G NR supports the development of smart cities by enabling real-time data exchange and communication between connected devices. This capability improves urban infrastructure, transportation, and public safety, enhancing the quality of life for city residents. The technology’s ability to support large-scale IoT deployments also ensures efficient resource management and sustainability, making it a key enabler of future urban ecosystems.

What Are the Key Market Drivers for 5G New Radio?

The global rollout of 5G networks is the most significant driver of the 5G New Radio market. As telecom operators upgrade their infrastructure to support 5G capabilities, the demand for 5G NR solutions is increasing. The technology’s ability to deliver ultra-fast, low-latency connectivity and support diverse applications makes it a cornerstone of 5G deployment strategies.

The rising adoption of high-bandwidth applications and IoT devices is another major driver. From video streaming to industrial automation, these applications require reliable and high-capacity networks to function effectively. 5G NR’s ability to handle massive data traffic and connect millions of devices simultaneously positions it as an essential technology for modern communication systems.

Finally, advancements in 5G architecture, such as Massive MIMO, DSS, and standalone networks, are accelerating the adoption of 5G NR. These innovations improve the efficiency, scalability, and cost-effectiveness of 5G deployments, enabling operators to expand their coverage and services. Combined with government initiatives and investments in 5G infrastructure, these drivers are propelling the 5G New Radio market toward significant growth in the coming years.

SCOPE OF STUDY:

The report analyzes the 5G New Radio market in terms of units by the following Segments, and Geographic Regions/Countries:

Segments:
Component (5G New Radio Hardware, 5G New Radio Software, 5G New Radio Services); Application (Enhanced Mobile Broadband, Ultra-Reliable Low-Latency Communications, Massive Machine-Type Communications); End-Use (IT and Telecom End-Use, Manufacturing End-Use, Automotive End-Use, Healthcare End-Use, Retail End-Use, Other End-Uses)

Geographic Regions/Countries:
World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; and Rest of Europe); Asia-Pacific; Rest of World.

Select Competitors (Total 39 Featured) -

• Airspan Networks, Inc.
• Cisco Systems, Inc.
• Fujitsu Ltd.
• Huawei Technologies Co., Ltd.
• Keysight Technologies, Inc.
• Mavenir Systems, Inc.
• NEC Corporation
• Nokia Corporation
• NybSys
• Qualcomm Technologies, Inc.
• Samsung Electronics Co., Ltd.
• Telefonaktiebolaget LM Ericsson

TARIFF IMPACT FACTOR

Our new release incorporates impact of tariffs on geographical markets as we predict a shift in competitiveness of companies based on HQ country, manufacturing base, exports and imports (finished goods and OEM). This intricate and multifaceted market reality will impact competitors by artificially increasing the COGS, reducing profitability, reconfiguring supply chains, amongst other micro and macro market dynamics.

We are diligently following expert opinions of leading Chief Economists (14,949), Think Tanks (62), Trade & Industry bodies (171) worldwide, as they assess impact and address new market realities for their ecosystems. Experts and economists from every major country are tracked for their opinions on tariffs and how they will impact their countries.

We expect this chaos to play out over the next 2-3 months and a new world order is established with more clarity. We are tracking these developments on a real time basis.

As we release this report, U.S. Trade Representatives are pushing their counterparts in 183 countries for an early closure to bilateral tariff negotiations. Most of the major trading partners also have initiated trade agreements with other key trading nations, outside of those in the works with the United States. We are tracking such secondary fallouts as supply chains shift.

To our valued clients, we say, we have your back. We will present a simplified market reassessment by incorporating these changes!

APRIL 2025: NEGOTIATION PHASE

Our April release addresses the impact of tariffs on the overall global market and presents market adjustments by geography. Our trajectories are based on historic data and evolving market impacting factors.

JULY 2025 FINAL TARIFF RESET

Complimentary Update: Our clients will also receive a complimentary update in July after a final reset is announced between nations. The final updated version incorporates clearly defined Tariff Impact Analyses.

Reciprocal and Bilateral Trade & Tariff Impact Analyses:

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JAPAN
INDIA
176 OTHER COUNTRIES.

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