The 5G Devices Market size in terms of shipment volume is expected to grow from 3.00 billion units in 2023 to 33.24 billion units by 2028, at a CAGR of 61.76% during the forecast period (2023-2028).
5G technology will offer ultra-high-speed network coverage and enable numerous new applications with the help of IoT. Also, the COVID-19 pandemic has delayed the widespread deployment of 5G.
The 5G devices market is moderately competitive and consists of many global and regional players. These players account for a considerable market share and focus on expanding their customer base. The vendors focus on the research and development investment in introducing new solutions, strategic partnerships, and other organic & inorganic growth strategies to earn a competitive edge over their counterparts.
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