5G Devices Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

5G Devices Market is Segmented by Form Factor (Modules, CPE (Indoor/Outdoor), Smartphone, Hotspots, Laptops, Industrial Grade CPE/Router/Gateway), Spectrum Support (Sub-6 GHz, mmWave, Both Spectrum Bands), and Geography.

Market Snapshot

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Study Period: 2018- 2026
Base Year: 2021
Fastest Growing Market: Asia Pacific
Largest Market: North America
CAGR: 74.98 %

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Market Overview

The 5G devices market is expected to grow at 74.98% CAGR during the forecast period of 2021-2026. 5G technology will offer ultra-high speeds network coverage and enable numerous new applications with the help of IoT. The COVID-19 pandemic has resulted in a delayed widespread deployment of 5G. As per November 2020 Ericsson mobility report, the net addition of mobile subscriptions stood at 11 million in Q3 2020. This is attributed to the pandemic and associated lockdown restrictions globally. It has forecasted 8.8 billion mobile subscriptions by the end of 2026. The pandemic’s immediate effects have been felt in every industry, causing widespread layoffs, record unemployment, and severely curtailing consumer spending. As for the entire 2020, 5G expectations of both operators and OEMs have been unmet. The spread of COVID-19 resulted in a significant supply chain disruption impeding the 5G buildout process in the short & medium term. The major 5G hardware delays and general effects of the economic slowdown thus, apply. In the shorter term, the Federal Communications Commission (FCC) has instructed the service providers to offer additional bandwidth to the households for 60 days to handle the immediate crisis. However, in the long-term, it is expected that 5G connectivity could ease the stress on network connectivity.

  • The growing adoption of connectivity, digital applications, and wearable technology is expected to drive growth for players in the 5G devices market. Moreover, upgrading existing supporting infrastructure, including modems, towers, and other supporting infrastructure, will present significant opportunities for new players. The 5G devices market's growth is expected to drive significant opportunities as the adoption of 5G technology has received positive signals worldwide.
  • Emerging applications and business models and falling device costs have been instrumental in driving IoT adoption, consequently increasing the number of connected devices and endpoints globally. 5G offers massive machine-type communication (mMTC), which is poised to support tens of billions of network-enabled devices to be wirelessly connected. Modern communication systems already serve several MTC applications. However, the characteristic properties of mMTC, i.e., the massive number of devices and the tiny payload sizes, require novel concepts and approaches. 5G allows a density of approximately one million devices per square kilometer.
  • Major chip makers also focus on 5G device component development to boost device penetration in the market. For example, Qualcomm has made its 5G baseband commercially available and after releasing its fully multimode 5G/4G/3G/2G modem X55. The company was also releasing an integrated 5G system-on-chip with Snapdragon 765G and 765 and announced in February 2020 its third generation of 5G modem with x60. This x60 will notably bring the possibility to aggregate sub 6GHz and mm-wave frequency bands.
  • The market is witnessing multiple innovations at the component and device level, increasing the usage of 5G devices. For instance, several manufacturers such as Qualcomm and MediaTek are introducing chipsets that support 5G, which multiple smartphone manufacturers are using. Previously, 5G support is confined to only flagship mobiles, and now, the mid-level smartphones are also supporting 5G to introduce cheaper chipsets making in the market.
  • Global standardization body 3GPP is considerably delaying adopting a pair of essential releases for 5G specifications. Release 17 and Release 16 have both been significantly pushed back, and the association has canceled all in-person meetings since February to limit the spread of the COVID-19. Release 16 will also extend 5G New Radio (NR) equipment to operate in unlicensed spectrum in addition to features of importance to industrial IoT.

Scope of the Report

The study tracks the current market scenario and competitive landscape for the various types of 5G devices considered as part of the scope, such as modules, smartphones, hotspots, laptops, etc. The key categories, segments, enablers, and market influencers in each category are analyzed in detail, in relation to their role in the overall market landscape. The study also focuses on the impact of COVID-19 on the market ecosystem. In the report scope, the existing technology provider landscape also covered, which consists of major players operating in the market.

Form Factor
Modules
CPE (Indoor/Outdoor)
Smartphone
Hotspots
Laptops
Industrial Grade CPE/Router/Gateway
Other Form Factors
Spectrum Support
Sub-6 GHz
mmWave
Both Spectrum Bands
Geography
North America
Europe
Asia Pacific
Latin America
Middle East & Africa

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Key Market Trends

Smartphone Segment is Expected to have the Highest Growth

  • The increasing technological advancements and growing demand for ultra-high bandwidth, ultra-low latency, and massive connectivity are expected to offer growth opportunities to the market. Moreover, the rising demand for high-speed data connectivity for integrated IoT (Internet of Things) applications, such as energy management, smart home products, is anticipated to propel the adoption of 5G smartphones over the forecast period.
  • Samsung expects that 2021 will see a strong movement toward Standalone 5G networks and further develop the 5G ecosystem, including applications that will more fully utilize 5G’s transformational possibilities. In April 2020, Samsung revealed the Galaxy A51 5G and Galaxy A71 5G smartphones, adding 5G connectivity and enhanced innovations to the popular Galaxy A range. The newly developed products are packed with the latest features, including an Infinity-O display, quad camera, and connectivity through 5G. The A51 5G and A71 5G are designed to create exciting and accessible mobile experiences every day.
  • Players in the market are focusing on providing the best-in-class 5G smartphones experience to the customers. For instance, in January 2021, OPPO India announced that it aims to launch more than six 5G-enabled devices in India this year, as 5G-ready and Internet of Things (IoT) product categories become important for smartphone players in the country.
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North America Expected to Hold a Significant Share

  • Service providers in the region have already launched commercial 5G services, focused on mobile broadband. The introduction of 5G devices that support all 3 spectrum bands will enable early adoption of the technology in the region. As of now, 5G services are integrated with 4G services, or with hand-off from 5G to 4G when a customer moves from an area where 5G service is available to one where it is not.
  • According to the Ericson Mobility Report, 80% of North America’s mobile subscriptions will be dependent on 5G by 2026. The accelerating 5G deployments and the number of subscriptions are expected to grow significantly with the increased availability of 5G-capable devices. North America witnessed a total of 3.4 million 5G connections and over half a billion LTE connections, by the end of Q3 2020. For the region, this amounted to 47% quarterly growth in 5G, with an increase of over 1 million 5G connections over the quarter.
  • There have been multiple product launches to enable 5G connectivity across the region recently. In October 2020, Verizon launched 5G Home Internet in Minneapolis & St. Paul, bringing fast 5G Home Internet service to customers in eight cities, along with its newly designed hardware. The newest 5G Home hardware, 5G Internet Gateway, is a company’s first-to-market MMwave 5G CPE/Router. 5G Internet Gateway advanced to allow customers to experience speeds of up to 1 Gbps, which enables multiple devices running at the same time.
  • In September 2020, Verizon and Inseego announced the launch of the Inseego MiFi M2100 5G UW mobile hotspot, built to deliver blazing-fast speeds across Verizon’s 5G Ultra Wideband and 4G LTE network.
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Competitive Landscape

The 5G devices market is moderately competitive and consists of a significant number of global and regional players. These players account for a considerable share in the market and focus on expanding their customer base. These vendors focus on the research and development investment in introducing new solutions, strategic partnerships, and other organic & inorganic growth strategies to earn a competitive edge over the forecast period.

  • September 2020 - Verizon and Inseego announced the launch of the Inseego MiFi M2100 5G UW mobile hotspot, built to deliver blazing-fast speeds across Verizon’s 5G Ultra Wideband and 4G LTE network.
  • February 2021 - Qualcomm Technologies Inc. launched its next generation of Qualcomm RF Front End (RFFE) solutions for high-performance 5G mobile devices. The products are designed to support power-efficiency and advanced performance capabilities in the Qualcomm Snapdragon X62 and X65 5G Modem-RF Systems, bringing together modem, RF front-end components, RF transceiver with artificial intelligence (AI) assistance, and mmWave antenna modules to enable OEMs to design flagship 5G devices.

Recent Developments

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions and Market Definition

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Impact of COVID-19 on the 5G Landscape

    3. 4.3 Market Drivers

      1. 4.3.1 Sustained Increase in Number of Devices and Endpoints Worldwide

      2. 4.3.2 Technological Innovations at a Component and Device Level to Aid Adoption

      3. 4.3.3 Key Benefits Offered by 5G Over Its Predecessors

    4. 4.4 Market Restraints

      1. 4.4.1 Regulatory and Standardization Delays

      2. 4.4.2 Design and Operational Challenges

    5. 4.5 Market Opportunities

      1. 4.5.1 Anticipated Rise in Demand from the Industrial Sector

      2. 4.5.2 Ongoing Efforts toward Introduction of 5G in Emerging Countries

    6. 4.6 Porters Five Force Analysis

      1. 4.6.1 Threat of New Entrants

      2. 4.6.2 Bargaining Power of Buyers/Consumers

      3. 4.6.3 Bargaining Power of Suppliers

      4. 4.6.4 Threat of Substitute Products

      5. 4.6.5 Intensity of Competitive Rivalry

    7. 4.7 5G Timeline and proliferation 5G enabled devices

    8. 4.8 5G and Beyond - The Path Ahead

    9. 4.9 Key Industry Regulations and Policies

  5. 5. TECHNOLOGY SNAPSHOT

  6. 6. 5G ADOPTION MARKET LANDSCAPE

    1. 6.1 Number of Operators Worldwide - Breakdown by Trials and Commercial Launches (Q2'18 - Q1'20)

    2. 6.2 Country-level coverage on 5G Adoption - Investment and Commercialization Trends

    3. 6.3 Total Cell-site Backhaul, Macro, and Small Cell-site Backhaul Usage - In Percentage (Microwave, Satellite, Sub-6 GHz)

    4. 6.4 Market Outlook

  7. 7. MARKET SEGMENTATION

    1. 7.1 Form Factor

      1. 7.1.1 Modules

      2. 7.1.2 CPE (Indoor/Outdoor)

      3. 7.1.3 Smartphone

      4. 7.1.4 Hotspots

      5. 7.1.5 Laptops

      6. 7.1.6 Industrial Grade CPE/Router/Gateway

      7. 7.1.7 Other Form Factors

    2. 7.2 Spectrum Support

      1. 7.2.1 Sub-6 GHz

      2. 7.2.2 mmWave

      3. 7.2.3 Both Spectrum Bands

    3. 7.3 Geography

      1. 7.3.1 North America

      2. 7.3.2 Europe

      3. 7.3.3 Asia Pacific

      4. 7.3.4 Latin America

      5. 7.3.5 Middle East & Africa

  8. 8. COMPETITIVE LANDSCAPE

    1. 8.1 Company Profiles

      1. 8.1.1 ZTE Corporation

      2. 8.1.2 Cisco Systems Inc

      3. 8.1.3 Nokia Corporation

      4. 8.1.4 Huawei Technologies Co. Ltd

      5. 8.1.5 Samsung Electronics Co. Ltd

      6. 8.1.6 Xiaomi Corporation

      7. 8.1.7 Motorola Mobility LLC (Lenovo Group Limited)

      8. 8.1.8 BBK Electronics Corporation

      9. 8.1.9 Keysight Technologies Inc.

    2. *List Not Exhaustive
  9. 9. INVESTMENT ANALYSIS

  10. 10. FUTURE OF THE MARKET

**Quantitative Analysis Subject to Availability

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Frequently Asked Questions

The 5G Devices Market market is studied from 2018 - 2026.

The 5G Devices Market is growing at a CAGR of 74.98% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

North America holds highest share in 2020.

ZTE Corporation, Nokia Corporation, Cisco Systems Inc, Huawei Technologies Co. Ltd, Samsung Electronics Co. Ltd are the major companies operating in 5G Devices Market.

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