Meticulous Research®, a prominent global market research firm, has released a detailed report titled, "5G Testing Market by Offering (Equipment, Outsourced Services), Application (5G Fixed Wireless Access Deployment Testing, Converged 5G xhaul Transport, 5G Small Cell Testing, Dark Fiber Testing), End User, and Geography - Global Forecast to 2030."
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According to the report, the global 5G testing market is expected to reach $1.41 billion by 2030, growing at a compound annual growth rate (CAGR) of 12.4% from 2023 to 2030. This growth is fueled by the rapid expansion of the 5G market, the increasing need for vulnerability assessments of 5G devices, and supportive initiatives for 5G testing services. The standardization of 5G, particularly in enhanced mobile broadband (eMBB), along with technological advancements in testing solutions, presents substantial opportunities. However, the shortage of skilled labor resources poses a challenge to market growth.
Market Segmentation and Insights:
- Offering Segment:
- Equipment: This includes signal generators, signal and spectrum analyzers, oscilloscopes, network analyzers, and more. This segment is anticipated to hold the largest market share in 2023 due to the emergence of 5G technologies, low business risk factors, and increased network traffic. Deploying 5G testing equipment is crucial for preventing infrastructure delays and issues, offering comprehensive analytical models for telecom service providers (TSPs).
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- Application Segment:
- 5G Small Cell Testing: Expected to dominate the application segment in 2023 due to rising consumer demand for high-speed mobile data connectivity. The deployment of 5G small cell networks in industrial, enterprise, and residential applications is increasing to provide extended coverage at an affordable price. The proliferation of smart cities, especially in countries like the U.S., Canada, Singapore, the U.K., Germany, Italy, and France, is driving this segment's growth.
- End-User Segment:
- Telecom Equipment Manufacturers: This segment is projected to hold the largest market share in 2023 due to the global deployment of 5G networks and long-term evolution technologies such as LTE. Telecom equipment manufacturers rely on 5G testing equipment to manage multiplexers, transmission lines, base transceiver stations, and more, ensuring compliance with international standards.
Geographical Insights:
- North America: Expected to lead the 5G testing market in 2023 due to the early adoption of 5G testing equipment and extensive deployment of 5G infrastructure. Major network service providers in the region, such as AT&T Inc., are heavily investing in R&D to integrate 5G technology into various applications, including smartphones and healthcare, enhancing overall network performance.
Key Players: The report highlights key industry players shaping the global 5G testing market, including ANRITSU CORPORATION, Artiza Networks, Inc., EXFO Inc., and others driving innovation and excellence in the field.
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