Market Definition
The Next Generation Wireless Network Market size was valued at USD 31.70 billion in 2023 and is predicted to reach USD 51.07 billion by 2030 with a CAGR of 7.05% from 2024 to 2030.
The next-generation wireless network (NextG) refers to the idea that wireless communications will significantly advance toward systems that are widespread and provide seamless, high-quality wireless services. Next generation wireless communications are used in various industries and it has numerous advantages including increased efficiency and improved data communications, which leads to faster transfer of information within businesses and between partners and customers. In addition, next generation wireless communications also provide consumers facilities such as cost-effective, flexibility, convenience and mobility, speed & stability, and ease of installation & scalability.
Market Dynamics and Trends
The increasing adoption of wireless consumer electronics such as cordless phones, mobile phones, tablets, bluetooth mice, and keyboards is accelerating the growth of the next generation wireless network market. As these wireless devices are embedded with wireless technologies including 5G, 4G, Wifi, and LPWAN (Low Power Wide Area Networks) for facilitating seamless communication and transfer data from one unit to another.
Additionally, there is a great need for wireless technologies for video conferencing and the loading of high-resolution files as a result of the rising demand for fast internet speed in various businesses, including the IT and telecommunications sectors as well as schools and colleges. Consequently, this is expected to drive the growth of the next-generation wireless network market.
Moreover, rising adoption of industry 4.0 initiatives, aimed at digitizing and optimizing industrial processes through technologies such as automation, robotics, and AI, are driving the adoption of next-generation wireless networks in sectors such as manufacturing, logistics, and transportation.
These networks enable real-time data exchange, remote monitoring, and control, facilitating the implementation of smart factories and connected supply chains. However, the deployment of next-generation wireless networks requires significant investments in infrastructure, including upgrading existing network equipment and building new infrastructure.
These costs can be substantial for network operators and may require long-term capital expenditures are the factors expected to restraint the growth of the next generation wireless network market. On the other hand, the integration of edge computing along with 5G Fixed Wireless Access (FWA) in next generation wireless network is expected to create lucrative growth opportunities for the market in the future.
Market Segmentations and Scope of the Study
The next generation wireless network market is segmented on the basis of technology, type, product, end-user, and geography. On the basis of technology, the market is divided into wireless LAN, 3G, 4G LTE, and 5G. On the basis of type, the market is categorized into fixed, mobile, portable, and infrared radiation (IR) wireless. On the basis of product, the market is segmented into cloud-ran, virtualized-ran, multi-user mimo, and multi-access edge computing. On the basis of end user, the market is classified into telecommunication, consumer electronics, manufacturing, aerospace and defense, and others. Regional breakdown and analysis of each of the aforesaid segments include regions comprising North America, Europe, Asia-Pacific, and Row.
Geographical Analysis
North America holds the dominant share of next generation wireless network market and is expected to continue its dominance during the forecast period. This is attributed to the factors such as rising digital transformation in the manufacturing sector with the adoption of Industry 4.0 technologies, such as automation, robotics, and data analytics. Next-generation wireless networks play a crucial role in enabling seamless connectivity and communication between smart devices, machines, and systems, driving efficiency, productivity, and innovation in manufacturing processes.
Also, the government initiatives aimed at promoting the development and deployment of next-generation wireless networks, such as spectrum allocation, infrastructure investments, and regulatory reforms, are driving market growth in North America. Policies aimed at expanding broadband access, bridging the digital divide, and fostering innovation are creating a conducive environment for the advancement of wireless technologies across the region.
On the other hand, Asia-Pacific is expected to show a steady rise in the next generation wireless network market due to the booming consumer electronics sector in countries such as China and India. With the region being a global hub for electronics manufacturing and consumption, there is a surging demand for high-speed and reliable wireless connectivity to support a wide range of devices such as smartphones, tablets, laptops, smart TVs, and wearable gadgets.
According to the Ministry of Industry and Information Technology as of September 2022, China ranks first globally in the production and sales of consumer electronics. This growing demand is fueled by factors such as increasing disposable incomes, urbanization, and the proliferation of digital lifestyles.
Also, the growing demand for IoT applications along with the presence of key market players such as Huawei technologies and Quectel Wireless Solution providing next generation wireless network solutions is boosting the growth of the market in the region.
For instance, in September 2022, Quectel Wireless Solution launched its new SC680A smart module which features broad connectivity options including LTE Cat 6, Wi-Fi 802.11ac and Bluetooth 5.0 with powerful system performance and rich multimedia functions.
Competitive Landscape
Various market players operating in the next generation wireless network market includes AT&T, Huawei technologies, Intel Corporations, Cisco Systems, Qualcomm, IBM Corporations, NEC, Netgear, Ericsson, and Quectel Wireless Solution among others. These market players continue to adopt various market development strategies including new launches to maintain their dominance in the next generation wireless network market.
For instance, in October 2022, Huawei technologies launched All-band 5G series for the development of effective and affordable 5G networks. This All-band 5G series is designed to optimize the capabilities of all bandwidths network and enable in-depth coordination across bandwidths along with minimizing power consumption.
In addition, in May 2022, AT&T launched managed wireless WAN. This is designed with the aim of enabling businesses to detach locations, assets, and facilitating secure connectivity of people.
Key Benefits
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The report provides quantitative analysis and estimations of the next generation wireless network market from 2024 to 2030, which assists in identifying the prevailing market opportunities.
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The study comprises a deep dive analysis of next generation wireless network market including the current and future trends to depict prevalent investment pockets in the market.
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Information related to key drivers, restraints, and opportunities and their impact on next generation wireless network market is provided in the report.
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Competitive analysis of the players, along with their market share is provided in the report.
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SWOT analysis and Porters Five Forces model is elaborated in the study.
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Value chain analysis in the market study provides a clear picture of roles of stakeholders.
Key Market Segments
By Technology
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Wireless LAN
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3G
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4G LTE
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5G
By Type
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Fixed
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Mobile
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Portable
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Infrared radiation (IR) Wireless
By Product
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Cloud-RAN
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Virtualized-RAN
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Multi-user MIMO
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Multi-access edge computing
By End User
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Telecommunication
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Consumer Electronics
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Manufacturing
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Aerospace and Defense
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Others
By Region
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North America
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The U.S.
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Canada
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Mexico
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Europe
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The UK
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Germany
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France
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Italy
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Spain
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Denmark
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Netherlands
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Finland
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Sweden
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Norway
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Russia
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Rest of Europe
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Asia-Pacific
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China
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Japan
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India
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South Korea
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Australia
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Indonesia
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Singapore
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Taiwan
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Thailand
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Rest of Asia-Pacific
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RoW
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Latin America
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Middle East
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Africa
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REPORT SCOPE AND SEGMENTATION:
Parameters |
Details |
Market Size in 2023 |
USD 31.70 Billion |
Revenue Forecast in 2030 |
USD 51.07 Billion |
Growth Rate |
CAGR of 7.05% from 2024 to 2030 |
Analysis Period |
2023–2030 |
Base Year Considered |
2023 |
Forecast Period |
2024–2030 |
Market Size Estimation |
Billion (USD) |
Growth Factors |
|
Countries Covered |
28 |
Companies Profiled |
10 |
Market Share |
Available for 10 companies |
Customization Scope |
Free customization (equivalent up to 80 working hours of analysts) after purchase. Addition or alteration to country, regional, and segment scope. |
Pricing and Purchase Options |
Avail customized purchase options to meet your exact research needs. |