The 5G network and tower deployment market size is projected to reach US$ 26.19 billion by 2031 from US$ 10.27 billion in 2023. The market is expected to register a CAGR of 12.4% during 2023–2031. The growing internet penetration and manufacturing automation are likely to remain key trends in the market.
The rise in automation across various industries, such as retail, manufacturing, automotive, media and entertainment, and others, is fostering the installation and proliferation of 5G infrastructure. The government authorities worldwide are focused on adopting the 5G deployment to drive their economic growth. The rise in investment and telecom operators expanding their business and services further fosters market growth.
5G is a cellular technology with new enhanced spectrum frequencies. As compared to 4G networks, 5G network provides lower latency, high speeds, and support for numerous connected devices. The increased bandwidth of 5G networks, compared to 4G, powers the data-intensive requirements of applications such as manufacturing automation, smart cities, connected vehicles, and others.
According to Accenture report in 2021 showcased the 5G impacts on the US economy. It is estimated that the 5G technology will drive sales growth over the next five years. The 5G supports technologies such as artificial intelligence (AI), the Internet of Things (IoT), and edge computing. As the US is a pioneer in the adoption of advanced technology, the US holds the largest share in the North America 5G network and tower deployment market
Growing demand for 5G network in the manufacturing industry
The adoption of 5G results in productivity, which leads to its demand across various industries. According to Accenture, in the manufacturing industry, 5G-enabled factories experience around 20-30% productivity gains, which includes up to 50% in assembly time, up to 20% in asset life and up to 90% in defect detection. The advent of industrial automation or Industry 4.0 is contributing to connected devices and machinery. Manufacturers around the world are adopting automation to gain a competitive advantage over competitors and maximize their production capacity to serve a broader customer. For smooth operation across the manufacturing industry, the 5G network is required to transfer the data faster. Real-time information transfer is necessary in the manufacturing industry for efficient operation of the production process and workflow.
Key segments that contributed to the derivation of the 5G network and tower deployment market analysis are component, location, frequency band, and small cell tower.
The geographic scope of the 5G network and tower deployment market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.
Asia Pacific region is expected to grow with the highest CAGR during the forecast period. The rise in automation in the manufacturing industry in developing nations such as India and China fosters the market growth of the region. The government investment in the 5G infrastructure creates opportunities to propel market growth. For example, according to India’a Ministry of Communications, 5G adoption in the country depends on factors such as dedicated R&D investments to develop India-specific use cases, enterprise penetration, device affordability, and consumer adoption.
The regional trends and factors influencing the 5G Network and Tower Deployment Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses 5G Network and Tower Deployment Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
| Report Attribute | Details |
|---|---|
| Market size in 2023 | US$ 10.27 Billion |
| Market Size by 2031 | US$ 26.19 Billion |
| Global CAGR (2023 - 2031) | 12.4% |
| Historical Data | 2021-2022 |
| Forecast period | 2024-2031 |
| Segments Covered |
By Component
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The 5G Network and Tower Deployment Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the 5G Network and Tower Deployment Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
The 5G network and tower deployment market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the 5G network and tower deployment market are listed below:
The “5G Network and Tower Deployment Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
The estimated value of the 5G network and tower deployment market will be US$ 26.19 billion by 2031.
AMERICAN TOWER, Crown Castle, CTI TOWERS INC., DISH Network L.L.C., SBA Communications Corporation, CommScope Inc., Mavenir, Verizon Communications Inc., AT&T Inc., and Qualcomm Technologies Inc. are some of the key players operating in the 5G network and tower deployment market.
The global 5G network and tower deployment market is estimated to register a CAGR of 12.4% during the forecast period 2023–2031.
Government initiatives to deploy 5G technology are considered a key trend in the 5G network and tower deployment market.
The growing internet penetration and manufacturing automation are the key driving factors impacting the 5G network and tower deployment market.