Telecom revolution drives 5G testing market

The research report further forecasts the worldwide 5G testing industry value to reach $7.8 billion by 2034 end.

The 5G testing market valuation was assessed to be around $2.1 billion in 2019. The market expanded with a robust CAGR of 11.4% during the historical period. In congruence with these numbers, the worth of the market in 2023 was figured out to be around $3.2 billion.

Key takeaways:

• The US, with leading 5G testing service providers, dominates the global market and is expected to advance further at 8.4% CAGR through 2034.
• In Europe, the UK is currently the leading market for 5G network-testing solutions and is likely to progress at 8.6% CAGR through 2034.
• China, the pioneer of 5G technology in Asia, is expected to witness an expansion of its regional market at 9.2% CAGR between 2024 and 2034.
• Japan follows China in the 5G testing equipment and solution market and is projected to follow a higher CAGR of 9.3% through the projected years.
• South Korea is growing remarkably in 5G testing services in Asia currently, with an estimated CAGR of 9.5% till 2034.

"The 5G testing market is witnessing a significant growth driven by the rapid adoption of 5G technology globally. As the demand for high-speed connectivity and low-latency communication intensifies, businesses and telecommunications operators invest in robust testing solutions to ensure the seamless deployment of 5G networks. Our findings indicate a burgeoning market with diverse opportunities for key players to innovate and meet the evolving testing requirements within the dynamic landscape of 5G technology," says Sudip Saha, Managing Director and Co-Founder at Future Market Insights.

Competitive landscape for the 5G testing market participants:

The market is highly fragmented as numerous players have cropped up with the 5G network devices and services expansion in the last few years. However, the 5G testing equipment segment is relatively consolidated as a few leading players have the capacity and capital to keep up with the market trends.

The leading 5G testing equipment manufacturers are putting a lot of effort into advancing the technology to remain competitive with the fast-evolving cellular network technologies. To secure their position, new market players are collaborating and collaborating with 5G technology research and development institutes.

Recent developments by the 5G testing industry players:

• In May 2023, Tektronix Incorporation introduced the Double Pulse Test solution called WBGDPT to measure wide bandgap devices repeatedly and autonomously. Tektronix is a global supplier of test and measurement solutions, and the WBGPTD system is aimed at supporting significant developments in solar energy, electric cars, and industrial controls.
• Anritsu and Artiza Networks Company teamed up in March 2023 to provide an Open RAN test solution to facilitate multi-vendor sourcing. The Open RAN idea leverages network point standards and the ongoing development of AI applications as a source of business opportunities.

These insights are based on a report on the 5G Testing Market by Sudip Saha, MD and Co-Founder, Future Market Insights