The global market for 5G New Radio was estimated at US$59.9 Billion in 2024 and is projected to reach US$291.7 Billion by 2030, growing at a CAGR of 30.2% from 2024 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions. The report includes the most recent global tariff developments and how they impact the 5G New Radio market.
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.
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.
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.
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.
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.
The analysts continuously track trade developments worldwide, drawing insights from leading global economists and over 200 industry and policy institutions, including think tanks, trade organizations, and national economic advisory bodies. This intelligence is integrated into forecasting models to provide timely, data-driven analysis of emerging risks and opportunities.
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.
Report Scope
The report analyzes the 5G New Radio market, presented in terms of market value (US$ Thousand). The analysis covers the key segments and geographic regions outlined below.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.
Key Insights:
- Market Growth: Understand the significant growth trajectory of the 5G New Radio Hardware segment, which is expected to reach US$195.9 Billion by 2030 with a CAGR of a 33.1%. The 5G New Radio Software segment is also set to grow at 27.2% CAGR over the analysis period.
- Regional Analysis: Gain insights into the U.S. market, estimated at $15.7 Billion in 2024, and China, forecasted to grow at an impressive 28.5% CAGR to reach $43.6 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.
Why You Should Buy This Report:
- Detailed Market Analysis: Access a thorough analysis of the Global 5G New Radio Market, covering all major geographic regions and market segments.
- Competitive Insights: Get an overview of the competitive landscape, including the market presence of major players across different geographies.
- Future Trends and Drivers: Understand the key trends and drivers shaping the future of the Global 5G New Radio Market.
- Actionable Insights: Benefit from actionable insights that can help you identify new revenue opportunities and make strategic business decisions.
Key Questions Answered:
- How is the Global 5G New Radio Market expected to evolve by 2030?
- What are the main drivers and restraints affecting the market?
- Which market segments will grow the most over the forecast period?
- How will market shares for different regions and segments change by 2030?
- Who are the leading players in the market, and what are their prospects?
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2024 to 2030.
- In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
- Company Profiles: Coverage of players such as Airspan Networks, Inc., Cisco Systems, Inc., Fujitsu Ltd., Huawei Technologies Co., Ltd., Keysight Technologies, Inc. and more.
- Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.
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 Analysis: Key Insights for 2025
Global tariff negotiations across 180+ countries are reshaping supply chains, costs, and competitiveness. This report reflects the latest developments as of April 2025 and incorporates forward-looking insights into the market outlook.The analysts continuously track trade developments worldwide, drawing insights from leading global economists and over 200 industry and policy institutions, including think tanks, trade organizations, and national economic advisory bodies. This intelligence is integrated into forecasting models to provide timely, data-driven analysis of emerging risks and opportunities.
What’s Included in This Edition:
- Tariff-adjusted market forecasts by region and segment
- Analysis of cost and supply chain implications by sourcing and trade exposure
- Strategic insights into geographic shifts
Buyers receive a free July 2025 update with:
- Finalized tariff impacts and new trade agreement effects
- Updated projections reflecting global sourcing and cost shifts
- Expanded country-specific coverage across the industry
Table of Contents
I. METHODOLOGYII. EXECUTIVE SUMMARY2. FOCUS ON SELECT PLAYERSIV. COMPETITION
1. MARKET OVERVIEW
3. MARKET TRENDS & DRIVERS
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- 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
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 177 |
| Published | April 2025 |
| Forecast Period | 2024 - 2030 |
| Estimated Market Value ( USD | $ 59.9 Billion |
| Forecasted Market Value ( USD | $ 291.7 Billion |
| Compound Annual Growth Rate | 30.2% |
| Regions Covered | Global |
