The global 5G devices market reached approximately USD 13.25 Billion in 2024. The market is projected to grow at a CAGR of 47.20% between 2025 and 2034, reaching a value of around USD 632.84 Billion by 2034.
5G Devices Market Growth Rate
5G stands for fifth generation and 5G device refers to electronic devices including mobile phones that use the fifth-generation mobile network to connect machines, devices, and objects virtually and are engineered to increase the speed and responsiveness of wireless networks. Examples of 5G devices include smartphones, tablets, laptops with 5G modems, Internet of Things (IoT) devices, and fixed wireless access points.
Infrastructural development such as the upgradation of existing modems and towers, among others, along with the growing adoption of wearable technologies is supporting the 5G devices market development. The rising requirement for speed data connectivity owing to the increase in work-from-home is also fuelling the market growth. The demand for 5G devices from the healthcare and automobile sectors is rising rapidly owing to their capability to support high-speed data transfer rate, consistent connectivity, and low latency. Moreover, government initiatives to develop smart cities are further boosting the requirement for 5G infrastructure to allow device connectivity and deployment of sensors. 5G also allows for industrial automation and smart manufacturing by enabling multiple advances including computer vision and machine learning, among others.
5G Devices Market Trends
The expansion of 5G networks to support a wide range of applications, especially in critical infrastructure and services, has raised concerns about security vulnerabilities and the potential for cyberattacks. As a result, there is a growing focus on enhancing security features in 5G devices to ensure the protection of data, privacy, and the integrity of communication networks. For instance, implementing strong encryption protocols for data transmitted over 5G networks to prevent unauthorised access or interception.
Market players in 5G devices market are enhancing their partnership and collaboration efforts to expand the 5G network. The announcement of the partnership between Comviva, a leading global provider of mobility solutions, and GSMA's Open Gateway initiative to standardise 5G APIs, in March 2024, aims to unlock the full potential of 5G networks by providing a unified ecosystem for developers and cloud providers to rapidly deploy services across operator networks.
5G Devices Industry Segmentation
“5G Devices Market Report and Forecast 2025-2034” offers a detailed analysis of the market based on the following segments:
CPE is anticipated to grow at a sizeable rate in the 5G devices market in the coming years. CPE includes devices such as indoor and outdoor routers, gateways, and fixed wireless access points that enable 5G connectivity in homes and businesses. With the deployment of 5G networks, there is a growing demand for 5G CPE to provide high-speed internet access in areas where traditional wired broadband is not available or is less reliable.
Both Spectrum Bands segment is anticipated to witness sizeable growth in the forecast period. Devices that support both Sub-6 GHz and mmWave frequencies are becoming increasingly popular, especially in markets where mmWave 5G deployment is expanding as these devices offer the best of both worlds: the extensive coverage of Sub-6 GHz and the ultra-high speeds of mmWave.
Other 5G devices market key players include Nokia Corporation, Huawei Technologies Co., Ltd., Apple Inc., Telefonaktiebolaget LM Ericsson, Cisco Systems, Inc., and Qualcomm Technologies, Inc., among others.
5G Devices Market Analysis by Region
North America is anticipated to hold a significant share of the market over the forecast period owing to the increasing launch of commercial 5G services for mobile broadband. The introduction of 5G devices which are capable of supporting all three frequency bands are anticipated to encourage the adoption of 5G technology in the region. An increase in the number of fixed wireless access and improved infrastructural support for the 5G rollout is further boosting the market demand.
The demand for 5G devices market in the Asia Pacific region is expected to experience significant growth in the foreseeable future. Many countries in the Asia Pacific region, such as South Korea, China, Japan, and Australia, are at the forefront of 5G network deployment. The availability of 5G networks is driving the demand for 5G-enabled devices, as consumers and businesses seek to take advantage of faster data speeds and lower latency.
5G Devices Market Growth Rate
5G stands for fifth generation and 5G device refers to electronic devices including mobile phones that use the fifth-generation mobile network to connect machines, devices, and objects virtually and are engineered to increase the speed and responsiveness of wireless networks. Examples of 5G devices include smartphones, tablets, laptops with 5G modems, Internet of Things (IoT) devices, and fixed wireless access points.
Infrastructural development such as the upgradation of existing modems and towers, among others, along with the growing adoption of wearable technologies is supporting the 5G devices market development. The rising requirement for speed data connectivity owing to the increase in work-from-home is also fuelling the market growth. The demand for 5G devices from the healthcare and automobile sectors is rising rapidly owing to their capability to support high-speed data transfer rate, consistent connectivity, and low latency. Moreover, government initiatives to develop smart cities are further boosting the requirement for 5G infrastructure to allow device connectivity and deployment of sensors. 5G also allows for industrial automation and smart manufacturing by enabling multiple advances including computer vision and machine learning, among others.
Key Trends and Developments
Affordable 5G devices; enhanced security features; enhanced network slicing capabilities; and the development of 5G-advanced (5G-A) devices are the major trends impacting the 5G devices market expansionFebruary 5th, 2024
Vodafone Idea announced that it is set to launch 5G services in India within 6-7 months.March 22nd, 2024
Samsung has announced the launch of the Galaxy A55 5G mobile phone, which features an AI-enhanced camera.March 26th, 2024
The Tecno Pova 6 Pro 5G smartphone is set to launch in India on March 29, 2024. This mid-range device features a 120Hz display and a large 6,000mAh battery with 70W fast charging.March 26th, 2024
Comviva, a leading global provider of mobility solutions, has partnered with GSMA's Open Gateway initiative to standardise 5G APIs.Affordable 5G devices
Initially, 5G devices were premium-priced, but there is a trend towards more affordable 5G devices, making 5G more accessible to a broader range of consumers.Enhanced security features
As 5G networks support a wide range of applications, including critical infrastructure and services, there is a growing focus on enhancing security features in 5G devices.Enhanced network slicing capabilities
5G devices are increasingly supporting network slicing, a feature that allows the creation of multiple virtual networks on a single physical network infrastructure.Development of 5G-advanced (5G-A) devices
There is ongoing development of 5G-Advanced (5G-A) devices that will offer improved performance and capabilities compared to the initial wave of 5G devices.5G Devices Market Trends
The expansion of 5G networks to support a wide range of applications, especially in critical infrastructure and services, has raised concerns about security vulnerabilities and the potential for cyberattacks. As a result, there is a growing focus on enhancing security features in 5G devices to ensure the protection of data, privacy, and the integrity of communication networks. For instance, implementing strong encryption protocols for data transmitted over 5G networks to prevent unauthorised access or interception.
Market players in 5G devices market are enhancing their partnership and collaboration efforts to expand the 5G network. The announcement of the partnership between Comviva, a leading global provider of mobility solutions, and GSMA's Open Gateway initiative to standardise 5G APIs, in March 2024, aims to unlock the full potential of 5G networks by providing a unified ecosystem for developers and cloud providers to rapidly deploy services across operator networks.
5G Devices Industry Segmentation
“5G Devices Market Report and Forecast 2025-2034” offers a detailed analysis of the market based on the following segments:
Market Breakup by Form Factor
- Smartphones
- Tablet
- Modules
- CPE (Indoor/Outdoor)
- Hotspots
- Industrial Grade CPE/Router/Gateway
- Others
Market Breakup by Spectrum Support
- Sub-6 GHz
- mmWave
- Both Spectrum Bands
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Demand for smartphones is increasing due to the growing launch of new 5G models as well as the rise in 5G network plans
Smartphones are expected to account for a significant market share over the forecast period. This growth can be attributed to the increasing popularity of various data-intensive applications including gaming and video streaming, among others. The growing technological advancements and rising demand for massive connectivity, ultra-high bandwidth, and ultra-low latency in smartphones are further supporting the segment growth. The increased requirement for high-speed data for IoT applications is further propelling the requirement for 5G smartphones.CPE is anticipated to grow at a sizeable rate in the 5G devices market in the coming years. CPE includes devices such as indoor and outdoor routers, gateways, and fixed wireless access points that enable 5G connectivity in homes and businesses. With the deployment of 5G networks, there is a growing demand for 5G CPE to provide high-speed internet access in areas where traditional wired broadband is not available or is less reliable.
The sub-6 GHz segment maintains its dominance in the market as a wide variety of devices offer support to sub-6 GHZ frequencies
Sub-6 GHz holds a significant share of the 5G devices market. The majority of 5G devices currently in the market support Sub-6 GHz frequencies. This is because Sub-6 GHz bands offer a good balance of coverage and capacity, making them suitable for a wide range of applications and environments. Sub-6 GHz frequencies can penetrate buildings and other obstacles more effectively than mmWave frequencies, providing more extensive and reliable coverage.Both Spectrum Bands segment is anticipated to witness sizeable growth in the forecast period. Devices that support both Sub-6 GHz and mmWave frequencies are becoming increasingly popular, especially in markets where mmWave 5G deployment is expanding as these devices offer the best of both worlds: the extensive coverage of Sub-6 GHz and the ultra-high speeds of mmWave.
Leading Companies in 5G Devices Market
The market players are increasing product launches to gain a competitive edge in the 5G devices market
ZTE Corporation
ZTE Corporation was founded in 1985 and is headquartered in Shenzhen, China. The telecommunications company provides integrated solutions and innovative technologies for consumers, government enterprises, and global operators.Samsung Electronics Co. Ltd
Samsung Electronics Co. Ltd is an electronics company that was founded in 1969, is headquartered in Suwon-si, South Korea, and specialises in device solutions and consumer electronics, among others.Xiaomi Corporation
Xiaomi Corporation was established in 2010 and has its headquarters located in Beijing, China. The software development company pursues innovation, operational efficiency, and high-quality user experience.Lenovo Group Limited
Lenovo Group Limited is a multinational technology company with headquarters in Beijing, China. Its product portfolio includes a wide range of technology products and services, including personal computers and tablets.Other 5G devices market key players include Nokia Corporation, Huawei Technologies Co., Ltd., Apple Inc., Telefonaktiebolaget LM Ericsson, Cisco Systems, Inc., and Qualcomm Technologies, Inc., among others.
5G Devices Market Analysis by Region
North America is anticipated to hold a significant share of the market over the forecast period owing to the increasing launch of commercial 5G services for mobile broadband. The introduction of 5G devices which are capable of supporting all three frequency bands are anticipated to encourage the adoption of 5G technology in the region. An increase in the number of fixed wireless access and improved infrastructural support for the 5G rollout is further boosting the market demand.
The demand for 5G devices market in the Asia Pacific region is expected to experience significant growth in the foreseeable future. Many countries in the Asia Pacific region, such as South Korea, China, Japan, and Australia, are at the forefront of 5G network deployment. The availability of 5G networks is driving the demand for 5G-enabled devices, as consumers and businesses seek to take advantage of faster data speeds and lower latency.
Table of Contents
1 Executive Summary
2 Market Overview and Stakeholder Insights
3 Economic Summary
4 Country Risk Profiles
5 Global 5G Devices Market Analysis
6 North America 5G Devices Market Analysis
7 Europe 5G Devices Market Analysis
8 Asia Pacific 5G Devices Market Analysis
9 Latin America 5G Devices Market Analysis
10 Middle East and Africa 5G Devices Market Analysis
11 Market Dynamics
12 Competitive Landscape
Companies Mentioned
- ZTE Corporation
- Samsung Electronics Co. Ltd
- Xiaomi Corporation
- Lenovo Group Limited
- Nokia Corporation
- Huawei Technologies Co., Ltd.
- Apple Inc.
- Telefonaktiebolaget LM Ericsson
- Cisco Systems, Inc.
- Qualcomm Technologies, Inc.
