Publication Month: Jan 2023 | Report Code: TIPRE00013527 | No. of Pages: 208 | Category: Electronics and Semiconductor | Status: Published
The surging adoption of automation and the increasing need for efficient and real-time communication systems across various industries such as retail, manufacturing, healthcare, education, and utilities are further contributing to the rise in the adoption of 5G network services across the region. For instance, in September 2020, Virginia Roadways deployed C-V2X Communication Technology by Qualcomm Technologies, Inc. to enhance roadside and vehicle safety across the state. Similarly, in April 2020, AT&T sped up its 5G cell tower deployment to support medical facilities with enhanced connectivity. These factors are further contributing to the 5G network and tower deployment market growth.
In the last couple of years, North America has experienced a rise in the adoption of advanced network technologies for residential, commercial, and industrial applications. This rise in demand for such technologies has influenced the growing service offerings by network service providers across the region. Major 5G network providers in North America include Disk, C Spire, UScellular, T-Mobile, AT&T, and Verizon.
Thus, the rising offering of 5G services by numerous network service providers is driving the 5G network and tower deployment market size in North America.
|Market Size Value in||US$ 9211.96 million in 2022|
|Market Size Value by||US$ 17,785.55 million by 2028|
|Growth rate||CAGR of 11.6% from 2022 to 2028|
|No. of Pages||208|
|No. of Tables||110|
|No. of Charts & Figures||92|
|Historical data available||Yes|
|Segments covered||Component, Location, Frequency Band, and Small Cell Tower|
|Free Sample Copy Available|
The COVID-19 pandemic severely impacted European countries, including Italy, France, Germany, the UK, and Russia. The massive potential for the region to declare itself as a global innovational leader remains as it is, and to retain its position, the region is looking ahead for measures to remain leader. Owing to the consequences of the pandemic, the significance of internet connectivity and mobile networks is reaching a new level in the region. Since the region has distinctive industrial expertise in industries, such as retail, tourism, automotive, and agriculture, it persists with an opportunity to use 5G at a new level. In 2021, out of 14 of the largest communications operators and service providers in the UK and Europe, the average mid-band 5G nationwide coverage stood at less than 10% and will rise to an average of 15% in 2022.
Countries worldwide are experiencing a rise in demand for mobile subscribers and the adoption of smartphones for various applications such as mobile gaming, home broadband, video calling, high-definition movies & TV, mobile health services, augmented shopping experience, and global positioning system (GPS) services. The rising use of mobile phones for the services mentioned above is increasing the adoption of mobile subscribers and smartphones worldwide. For instance, according to GSMA, North America recorded 84% subscriber penetration in 2021 and 82% smartphone adoption in the same year. According to the Mobile Economy report published by GSMA in 2022, the above-mentioned services offer a better customer experience with 5G network technology. Thus, the increase in network subscribers and smartphones for both residential and commercial purposes and the rise in the adoption of 5G technology for enhanced services are driving the 5G network and tower deployment market size.
Based on frequency band, the market is segmented into low band, medium band, and high band. The medium band segment accounted for the largest share of the market in 2022. 5G frequency ranging between 1 GHz to 6 GHz is referred to as medium band frequency and is considered the ideal frequency band for 5G network services for transferring a large amount of data through substantial distances.
The 5G network and tower deployment market is segmented based on component, location, frequency band, small cell tower, and geography. Based on component, the 5G network and tower deployment market is segmented into small cell, 5G mobile core network, and radio access network. Based on location, the market is categorized into ground tower and rooftop tower. In terms of frequency band, the market is segmented into low band, medium band, and high band. Based on small cell tower, the market is categorized into femto cells, pico cells, and micro cells. Based on geography, the 5G network and tower deployment market is primarily segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America.
American Tower Corporation, Crown Castle International Corp, 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 among the key 5G network and tower deployment market players.
The 5G network and tower deployment market players focus on developing advanced and efficient systems. For instance:
The List of Companies - 5G Network and Tower Deployment Market