(MENAFN- EIN Presswire) The Insight Partners
The Rising Penetration of 5G In Industries is Set to Create Lucrative Business Opportunities During the Upcoming Period.
NEW YORK, UNITED STATES, March 6, 2023 /einpresswire.com / -- The 5g Network and tower deployment market are expected to grow significantly in the next few years, according to a new research report published by The Insight Partners. The report predicts that the market will grow from US$ 9,211.96 million in 2022 to US$ 17,785.55 million by 2028, and it is anticipated to register a CAGR of 11.6% from 2022 to 2028.
5G Network and Tower Deployment Market - Strategic Insights
Report CoverageDetails
Market Size Value inUS$ 9211.96 million in 2022
Market Size Value byUS$ 17,785.55 million by 2028
Growth rateCAGR of 11.6% from 2022 to 2028
Forecast Period2022-2028
Base Year2022
No. of Pages208
No. of Tables110
No. of Charts & Figures92
Historical data availableYes
Segments CoveredComponent, Location, Frequency Band, and Small Cell Tower
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The global 5G network and tower deployment market are segmented into five major regions-North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and South America (SAM). North America has been the pioneer in the rapid adoption of new and advanced technologies over the years. The presence of multiple industries, constant investment by market players in technological advancements, and the rise in demand for fast data transmission from commercial and residential broadband subscribers are propelling the requirement for 5G networks across the region, thereby boosting the 5G network and tower deployment market growth.
According to the GSMA report on Mobile Economy Middle East & North Africa 2022, The adoption rate of 5G in the Middle East & Africa is expected to grow to 17% by 2025. 5G connections in the MEA are expected to reach 41 million by 2025 (49% of total connections). Countries such as Bahrain, Iran, Israel, Kuwait, Oman, Qatar, Saudi Arabia, and the UAE launched commercial 5G services at the end of March 2022. Libya, Tunisia, and Turkey operators have publicly announced plans to launch commercial 5G services in the coming years. Additionally, 5G coverage is ramping up. Bahrain and Kuwait became two of the first countries to record nationwide 5G coverage, while the UAE reached 90% 5G population coverage at the end of 2021. In Saudi Arabia, 60 of the 136 governates were covered by 5G services as of mid-2021.
Impact of COVID-19 Pandemic on Middle East & Africa 5G Network and Tower Deployment Market Players
The implementation of stringent measures such as factory lockdowns, business shutdowns, and travel bans aggravated the economic problems of the countries in the MEA, which hampered the 5G network and tower deployment market growth in the initial days of the pandemic. However, the growing digital transformation in the region has accelerated the outlook for the 5G network and tower deployment market players in the MEA from 2021.
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Key Findings of Market Study
The countries in the Rest of MEA have experienced steady growth in 5G deployment and are currently at a developing stage. For instance, the National Telecommunications Regulatory Authority (NTRA) started selling 5G spectrum to Egypt's four mobile network operators in early 2020's. Morocco mobile network operators-Maroc Telecom, Orange, and Inwi-aim to develop 5G infrastructure in the country. The increasing investments and strategic developments by the local operators will further boost the 5G network and tower deployment market in the Rest of MEA.
Saudi Arabia ranks third globally and first in GCC countries in the 5G network and tower deployment market with more than 5,797 towers across 30 cities, according to the Kingdom's Ministry of Communications and Information Technology. According to GSMA Intelligence data, 5G coverage was available to 78% of the Saudi population in 2022. 5G is growing faster in Saudi Arabia, with plans to expand 5G services to the country's population. In October 2022, Huawei Tech signed an agreement with Zain KSA to accelerate the rollout of 5G in Saudi Arabia. Under this agreement, the Saudi telecom firm Zain KSA deploys Huawei products in its national network as part of efforts to increase 5G capacity and coverage. Such growth prospects contributed to the growth of the 5G network and tower deployment market size in the country.
The UAE is a leader in 5G adoption in the MEA as enterprises are investing heavily in digitizing their IT infrastructure. Etisalat became the first operator in the Middle East and Africa to launch a commercial 5G network in the UAE in May 2018. The pace of 5G implementation has accelerated since then. The UAE's telecom regulator expects to bring all inhabited areas of the country under 5G network coverage by the end of 2025. In March 2022, Nokia signed an agreement with Etisalat UAE to deploy 5G private wireless networks to support enterprises across Abu Dhabi. Both companies aim to work together to support businesses in various industries, including ports, oil & gas, government, and critical infrastructure, by digitally transforming operations and embracing Industry 4.0 through 5G use cases. All such factors augment the growth of the 5G network and tower deployment market size in the country.
5G Network and Tower Deployment Market: Competitive Landscape and Key Developments
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., Qualcomm Technologies Inc. are among the prominent 5G network and tower deployment market player.
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The Insight Partners is a one-stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductors and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Devices, Technology, Media and Telecommunications, and Chemicals and Materials.
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