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Report Description

Report Description

Forecast Period

2027-2031

Market Size (2025)

USD 50.53 Billion

CAGR (2026-2031)

28.49%

Fastest Growing Segment

Software

Largest Market

Asia Pacific

Market Size (2031)

USD 227.34 Billion

Market Overview

The Global 5G New Radio Market will grow from USD 50.53 Billion in 2025 to USD 227.34 Billion by 2031 at a 28.49% CAGR. The Global 5G New Radio (NR) Market comprises the standardized air interface technology enabling the next generation of mobile networks to deliver ultra-reliable, low-latency, and high-throughput connectivity. The market’s growth is fundamentally driven by the escalating demand for enhanced mobile broadband and the necessity for robust massive machine-type communications required by industrial automation and enterprise digital transformation. These operational imperatives compel network operators to transition from legacy systems to NR architectures to support dense IoT environments and high-bandwidth applications. According to 5G Americas, in 2024, global 5G connections reached a total of 2.25 billion, reflecting the intense demand for these network capabilities across consumer and industrial sectors.

However, one significant challenge potentially impeding market expansion is the substantial capital expenditure required for necessary infrastructure densification, particularly regarding the deployment of small cells for high-frequency millimeter-wave bands. This financial burden is compounded by the complexity of spectrum acquisition and regulatory fragmentation across various jurisdictions, which can delay network rollouts and hinder the achievement of seamless, ubiquitous global coverage.

Key Market Drivers

The primary catalyst propelling the Global 5G New Radio Market is the rising demand for Enhanced Mobile Broadband (eMBB) and high-speed data, driven by the exponential growth of data-intensive applications such as high-definition video streaming and cloud gaming. Network operators are aggressively upgrading their infrastructures to NR architectures to handle this surging throughput requirement, which legacy networks can no longer efficiently support. This transition is further accelerated by the widespread commercial availability of 5G services, which ensures that high-bandwidth capabilities are accessible to a broader consumer base. According to 5G Americas, in 2024, the number of commercial 5G networks globally reached 341, underscoring the rapid infrastructure scale-up to meet these connectivity needs. Consequently, the reliance on 5G for data transport is intensifying, directly boosting the market's trajectory. According to Ericsson, November 2024, in the 'Ericsson Mobility Report', 5G's share of total mobile data traffic was projected to reach an estimated 34 percent by the end of 2024, illustrating the technology's growing dominance in managing global data consumption.

Simultaneously, the market is being significantly advanced by the strategic expansion of private 5G networks within enterprise environments, particularly to support Industry 4.0 and smart factory automation. Industrial sectors are increasingly adopting standalone 5G NR solutions to establish secure, ultra-reliable, and low-latency communications essential for mission-critical operations like remote robotic control and real-time monitoring. These private deployments allow enterprises to maintain data sovereignty while optimizing operational efficiency through tailored network slicing and dedicated spectrum usage. According to the Global mobile Suppliers Association (GSA), December 2024, in the 'Private Mobile Networks Summary', the number of unique customer references for private mobile network deployments reached 1,603 in the third quarter of 2024, reflecting the robust uptake of this technology across manufacturing, mining, and education sectors. This trend indicates a pivotal shift where 5G NR moves beyond consumer connectivity to become the backbone of industrial digital transformation.

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Key Market Challenges

The substantial capital expenditure required for infrastructure densification constitutes a primary impediment to the growth of the Global 5G New Radio Market. Network operators must contend with the high costs associated with deploying small cells, which are essential for supporting high-frequency millimeter-wave bands. This financial burden forces telecommunication companies to prioritize investments heavily, often leading to phased or delayed rollouts in regions where the return on investment is not immediately clear. Consequently, the pace of network expansion slows, limiting the technology's reach.

The magnitude of this financial commitment is highlighted by recent industry projections regarding future spending obligations. According to the GSMA, in 2024, mobile operators are forecast to invest 1.5 trillion U.S. dollars in their networks between 2023 and 2030, with over 90 percent of this capital expenditure directed toward 5G deployments. This profound level of required funding restricts the ability of operators to rapidly scale their networks, thereby hampering the achievement of seamless global coverage and delaying the widespread adoption of 5G New Radio architectures.

Key Market Trends

The transition from Non-Standalone (NSA) to Standalone (SA) 5G network infrastructure represents a critical structural shift, moving the industry away from reliance on legacy 4G LTE cores toward a fully cloud-native 5G Core architecture. This evolution allows operators to unlock the technology's full potential by enabling advanced capabilities such as network slicing, ultra-low latency, and Voice over New Radio (VoNR) for broader commercial application beyond just industrial verticals. Telecommunication service providers are accelerating this migration to support massive machine-type communications and simplify network management through simplified, single-generation architectures. According to the Global mobile Suppliers Association (GSA), November 2024, in the '5G-Market Snapshot November 2024-2' report, there are now 151 operators globally investing in 5G standalone access, with 64 having already deployed these networks in public environments.

Simultaneously, the integration of Satellite and Non-Terrestrial Networks (NTN) with 5G New Radio is emerging as a pivotal trend to extend connectivity beyond terrestrial limits. This convergence leverages Low Earth Orbit (LEO) satellite constellations to provide ubiquitous coverage in rural, maritime, and remote regions where ground-based infrastructure is economically unviable. This integration is actively being standardized, allowing unmodified smartphones to connect directly to satellites, thereby creating new revenue streams for operators and addressing the digital divide through hybrid terrestrial-satellite networks. According to GSMA Intelligence, June 2024, in the 'Satellite and NTN tracker' report, 91 telecommunications operators have signed partnerships with satellite companies to develop these services, covering a potential addressable market of approximately 5 billion mobile subscribers.

Segmental Insights

The Software segment stands out as the fastest-growing category in the Global 5G New Radio Market. This robust expansion is driven by the increasing adoption of network virtualization and open architecture standards across the telecommunications industry. As operators prioritize flexibility and seek to minimize capital expenditure on physical infrastructure, the reliance on software for network management and orchestration has intensified. Additionally, the need for automated updates and centralized control facilitates rapid network scaling. This structural shift highlights the critical role of software in enabling efficient and adaptable 5G deployments globally.

Regional Insights

Asia Pacific dominates the Global 5G New Radio Market, driven by aggressive infrastructure investment and strategic government initiatives. Key economies such as China, South Korea, and Japan have prioritized rapid network deployment to support advanced industrial applications. For instance, regulatory bodies like China’s Ministry of Industry and Information Technology (MIIT) have enforced ambitious targets for base station construction, significantly accelerating coverage. This proactive regulatory environment, coupled with substantial demand for high-speed connectivity in smart manufacturing and urban development, secures the region’s status as the global leader in 5G technology adoption.

Recent Developments

  • In October 2024, Nokia announced a global go-to-market partnership with NTT DATA to advance private 5G transformation, a key growth area within the Global 5G New Radio Market. The collaboration focused on delivering enterprise-ready, carrier-grade Private 5G Radio Access Network (RAN) solutions to sectors such as airports and smart cities. As part of this initiative, the companies deployed a private network for the City of Brownsville, Texas, utilizing the vendor's 5G radio access portfolio and the partner's network-as-a-service platform. This strategic alliance aimed to provide high-bandwidth, low-latency wireless capabilities to support mission-critical operations and digital transformation initiatives worldwide.
  • In February 2024, Ericsson unveiled extensive enhancements to its radio and transport portfolio, aiming to accelerate the evolution of the Global 5G New Radio Market. The company launched the AIR 3255, a flagship Massive MIMO Time Division Duplex (TDD) radio, which it claimed delivered over 25 percent energy savings and a 20 percent lower embodied carbon footprint compared to previous generations. This new product featured advanced small metal filter technology scalable to all TDD sub-6GHz frequency bands, incentivizing mid-band deployment. The release also included twelve other hardware and software solutions designed to support high-performing, open, and sustainable network architectures for communications service providers.
  • In February 2024, Huawei introduced the industry's first 5.5G intelligent core network solution at a product launch event in Barcelona, marking a significant advancement in the Global 5G New Radio Market. The company stated that this solution incorporated service, network, and operational intelligence to support the commercialization of 5.5G, also known as 5G-Advanced. Alongside this, the vendor released an intelligent user plane function product capable of delivering ubiquitous 10 Gigabit per second service experiences. These innovations were developed to assist operators in building efficient, collaborative, and stable networks that could accommodate diversified services and drive business value in the 5G era.
  • In February 2024, Qualcomm Technologies announced the Snapdragon X80 5G Modem-RF System, a breakthrough research and product achievement relevant to the Global 5G New Radio Market. This seventh-generation solution was the first to integrate a dedicated 5G artificial intelligence processor and fully support Narrowband Non-Terrestrial Network satellite communications. The system featured a novel six-antenna architecture for smartphones and 6X carrier aggregation, aimed at significantly improving data speeds, latency, and spectrum efficiency. The company highlighted that this 5G Advanced-ready platform utilized AI to enhance coverage and power efficiency, setting a new benchmark for intelligent computing and connectivity in mobile devices.

Key Market Players

  • Huawei Technologies Co., Ltd.
  • Qualcomm Technologies, Inc.
  • Telefonaktiebolaget LM Ericsson
  • Samsung Electronics Co., Ltd.
  • Intel Corporation
  • Cisco Systems, Inc.
  • Fujitsu Limited
  • NEC Corporation
  • Nokia Corporation
  • Keysight Technologies, Inc.

By Offering

By Operating Frequency

By Architecture

By Application

By Industry

By Region

  • Hardware
  • Software
  • Services
  • Sub-6 GHz
  • mmWave
  • Non-Standalone (NSA)
  • Standalone (SA)
  • Enhanced Mobile Broadband (eMBB)
  • Ultra-reliable Low-Latency Communications (URLLC)
  • Massive Machine-type Communications (mMTC)
  • Telecom & IT
  • Manufacturing
  • Automotive
  • Healthcare
  • Retail
  • Others
  • North America
  • Europe
  • Asia Pacific
  • South America
  • Middle East & Africa

Report Scope:

In this report, the Global 5G New Radio Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

  • 5G New Radio Market, By Offering:
  • Hardware
  • Software
  • Services
  • 5G New Radio Market, By Operating Frequency:
  • Sub-6 GHz
  • mmWave
  • 5G New Radio Market, By Architecture:
  • Non-Standalone (NSA)
  • Standalone (SA)
  • 5G New Radio Market, By Application:
  • Enhanced Mobile Broadband (eMBB)
  • Ultra-reliable Low-Latency Communications (URLLC)
  • Massive Machine-type Communications (mMTC)
  • 5G New Radio Market, By Industry:
  • Telecom & IT
  • Manufacturing
  • Automotive
  • Healthcare
  • Retail
  • Others
  • 5G New Radio Market, By Region:
  • North America
    • United States
    • Canada
    • Mexico
  • Europe
    • France
    • United Kingdom
    • Italy
    • Germany
    • Spain
  • Asia Pacific
    • China
    • India
    • Japan
    • Australia
    • South Korea
  • South America
    • Brazil
    • Argentina
    • Colombia
  • Middle East & Africa
    • South Africa
    • Saudi Arabia
    • UAE

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global 5G New Radio Market.

Available Customizations:

Global 5G New Radio Market report with the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

  • Detailed analysis and profiling of additional market players (up to five).

Global 5G New Radio Market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]

Table of content

Table of content

1.    Product Overview

1.1.  Market Definition

1.2.  Scope of the Market

1.2.1.  Markets Covered

1.2.2.  Years Considered for Study

1.2.3.  Key Market Segmentations

2.    Research Methodology

2.1.  Objective of the Study

2.2.  Baseline Methodology

2.3.  Key Industry Partners

2.4.  Major Association and Secondary Sources

2.5.  Forecasting Methodology

2.6.  Data Triangulation & Validation

2.7.  Assumptions and Limitations

3.    Executive Summary

3.1.  Overview of the Market

3.2.  Overview of Key Market Segmentations

3.3.  Overview of Key Market Players

3.4.  Overview of Key Regions/Countries

3.5.  Overview of Market Drivers, Challenges, Trends

4.    Voice of Customer

5.    Global 5G New Radio Market Outlook

5.1.  Market Size & Forecast

5.1.1.  By Value

5.2.  Market Share & Forecast

5.2.1.  By Offering (Hardware, Software, Services)

5.2.2.  By Operating Frequency (Sub-6 GHz, mmWave)

5.2.3.  By Architecture (Non-Standalone (NSA), Standalone (SA))

5.2.4.  By Application (Enhanced Mobile Broadband (eMBB), Ultra-reliable Low-Latency Communications (URLLC), Massive Machine-type Communications (mMTC))

5.2.5.  By Industry (Telecom & IT, Manufacturing, Automotive, Healthcare, Retail, Others)

5.2.6.  By Region

5.2.7.  By Company (2025)

5.3.  Market Map

6.    North America 5G New Radio Market Outlook

6.1.  Market Size & Forecast

6.1.1.  By Value

6.2.  Market Share & Forecast

6.2.1.  By Offering

6.2.2.  By Operating Frequency

6.2.3.  By Architecture

6.2.4.  By Application

6.2.5.  By Industry

6.2.6.  By Country

6.3.    North America: Country Analysis

6.3.1.    United States 5G New Radio Market Outlook

6.3.1.1.  Market Size & Forecast

6.3.1.1.1.  By Value

6.3.1.2.  Market Share & Forecast

6.3.1.2.1.  By Offering

6.3.1.2.2.  By Operating Frequency

6.3.1.2.3.  By Architecture

6.3.1.2.4.  By Application

6.3.1.2.5.  By Industry

6.3.2.    Canada 5G New Radio Market Outlook

6.3.2.1.  Market Size & Forecast

6.3.2.1.1.  By Value

6.3.2.2.  Market Share & Forecast

6.3.2.2.1.  By Offering

6.3.2.2.2.  By Operating Frequency

6.3.2.2.3.  By Architecture

6.3.2.2.4.  By Application

6.3.2.2.5.  By Industry

6.3.3.    Mexico 5G New Radio Market Outlook

6.3.3.1.  Market Size & Forecast

6.3.3.1.1.  By Value

6.3.3.2.  Market Share & Forecast

6.3.3.2.1.  By Offering

6.3.3.2.2.  By Operating Frequency

6.3.3.2.3.  By Architecture

6.3.3.2.4.  By Application

6.3.3.2.5.  By Industry

7.    Europe 5G New Radio Market Outlook

7.1.  Market Size & Forecast

7.1.1.  By Value

7.2.  Market Share & Forecast

7.2.1.  By Offering

7.2.2.  By Operating Frequency

7.2.3.  By Architecture

7.2.4.  By Application

7.2.5.  By Industry

7.2.6.  By Country

7.3.    Europe: Country Analysis

7.3.1.    Germany 5G New Radio Market Outlook

7.3.1.1.  Market Size & Forecast

7.3.1.1.1.  By Value

7.3.1.2.  Market Share & Forecast

7.3.1.2.1.  By Offering

7.3.1.2.2.  By Operating Frequency

7.3.1.2.3.  By Architecture

7.3.1.2.4.  By Application

7.3.1.2.5.  By Industry

7.3.2.    France 5G New Radio Market Outlook

7.3.2.1.  Market Size & Forecast

7.3.2.1.1.  By Value

7.3.2.2.  Market Share & Forecast

7.3.2.2.1.  By Offering

7.3.2.2.2.  By Operating Frequency

7.3.2.2.3.  By Architecture

7.3.2.2.4.  By Application

7.3.2.2.5.  By Industry

7.3.3.    United Kingdom 5G New Radio Market Outlook

7.3.3.1.  Market Size & Forecast

7.3.3.1.1.  By Value

7.3.3.2.  Market Share & Forecast

7.3.3.2.1.  By Offering

7.3.3.2.2.  By Operating Frequency

7.3.3.2.3.  By Architecture

7.3.3.2.4.  By Application

7.3.3.2.5.  By Industry

7.3.4.    Italy 5G New Radio Market Outlook

7.3.4.1.  Market Size & Forecast

7.3.4.1.1.  By Value

7.3.4.2.  Market Share & Forecast

7.3.4.2.1.  By Offering

7.3.4.2.2.  By Operating Frequency

7.3.4.2.3.  By Architecture

7.3.4.2.4.  By Application

7.3.4.2.5.  By Industry

7.3.5.    Spain 5G New Radio Market Outlook

7.3.5.1.  Market Size & Forecast

7.3.5.1.1.  By Value

7.3.5.2.  Market Share & Forecast

7.3.5.2.1.  By Offering

7.3.5.2.2.  By Operating Frequency

7.3.5.2.3.  By Architecture

7.3.5.2.4.  By Application

7.3.5.2.5.  By Industry

8.    Asia Pacific 5G New Radio Market Outlook

8.1.  Market Size & Forecast

8.1.1.  By Value

8.2.  Market Share & Forecast

8.2.1.  By Offering

8.2.2.  By Operating Frequency

8.2.3.  By Architecture

8.2.4.  By Application

8.2.5.  By Industry

8.2.6.  By Country

8.3.    Asia Pacific: Country Analysis

8.3.1.    China 5G New Radio Market Outlook

8.3.1.1.  Market Size & Forecast

8.3.1.1.1.  By Value

8.3.1.2.  Market Share & Forecast

8.3.1.2.1.  By Offering

8.3.1.2.2.  By Operating Frequency

8.3.1.2.3.  By Architecture

8.3.1.2.4.  By Application

8.3.1.2.5.  By Industry

8.3.2.    India 5G New Radio Market Outlook

8.3.2.1.  Market Size & Forecast

8.3.2.1.1.  By Value

8.3.2.2.  Market Share & Forecast

8.3.2.2.1.  By Offering

8.3.2.2.2.  By Operating Frequency

8.3.2.2.3.  By Architecture

8.3.2.2.4.  By Application

8.3.2.2.5.  By Industry

8.3.3.    Japan 5G New Radio Market Outlook

8.3.3.1.  Market Size & Forecast

8.3.3.1.1.  By Value

8.3.3.2.  Market Share & Forecast

8.3.3.2.1.  By Offering

8.3.3.2.2.  By Operating Frequency

8.3.3.2.3.  By Architecture

8.3.3.2.4.  By Application

8.3.3.2.5.  By Industry

8.3.4.    South Korea 5G New Radio Market Outlook

8.3.4.1.  Market Size & Forecast

8.3.4.1.1.  By Value

8.3.4.2.  Market Share & Forecast

8.3.4.2.1.  By Offering

8.3.4.2.2.  By Operating Frequency

8.3.4.2.3.  By Architecture

8.3.4.2.4.  By Application

8.3.4.2.5.  By Industry

8.3.5.    Australia 5G New Radio Market Outlook

8.3.5.1.  Market Size & Forecast

8.3.5.1.1.  By Value

8.3.5.2.  Market Share & Forecast

8.3.5.2.1.  By Offering

8.3.5.2.2.  By Operating Frequency

8.3.5.2.3.  By Architecture

8.3.5.2.4.  By Application

8.3.5.2.5.  By Industry

9.    Middle East & Africa 5G New Radio Market Outlook

9.1.  Market Size & Forecast

9.1.1.  By Value

9.2.  Market Share & Forecast

9.2.1.  By Offering

9.2.2.  By Operating Frequency

9.2.3.  By Architecture

9.2.4.  By Application

9.2.5.  By Industry

9.2.6.  By Country

9.3.    Middle East & Africa: Country Analysis

9.3.1.    Saudi Arabia 5G New Radio Market Outlook

9.3.1.1.  Market Size & Forecast

9.3.1.1.1.  By Value

9.3.1.2.  Market Share & Forecast

9.3.1.2.1.  By Offering

9.3.1.2.2.  By Operating Frequency

9.3.1.2.3.  By Architecture

9.3.1.2.4.  By Application

9.3.1.2.5.  By Industry

9.3.2.    UAE 5G New Radio Market Outlook

9.3.2.1.  Market Size & Forecast

9.3.2.1.1.  By Value

9.3.2.2.  Market Share & Forecast

9.3.2.2.1.  By Offering

9.3.2.2.2.  By Operating Frequency

9.3.2.2.3.  By Architecture

9.3.2.2.4.  By Application

9.3.2.2.5.  By Industry

9.3.3.    South Africa 5G New Radio Market Outlook

9.3.3.1.  Market Size & Forecast

9.3.3.1.1.  By Value

9.3.3.2.  Market Share & Forecast

9.3.3.2.1.  By Offering

9.3.3.2.2.  By Operating Frequency

9.3.3.2.3.  By Architecture

9.3.3.2.4.  By Application

9.3.3.2.5.  By Industry

10.    South America 5G New Radio Market Outlook

10.1.  Market Size & Forecast

10.1.1.  By Value

10.2.  Market Share & Forecast

10.2.1.  By Offering

10.2.2.  By Operating Frequency

10.2.3.  By Architecture

10.2.4.  By Application

10.2.5.  By Industry

10.2.6.  By Country

10.3.    South America: Country Analysis

10.3.1.    Brazil 5G New Radio Market Outlook

10.3.1.1.  Market Size & Forecast

10.3.1.1.1.  By Value

10.3.1.2.  Market Share & Forecast

10.3.1.2.1.  By Offering

10.3.1.2.2.  By Operating Frequency

10.3.1.2.3.  By Architecture

10.3.1.2.4.  By Application

10.3.1.2.5.  By Industry

10.3.2.    Colombia 5G New Radio Market Outlook

10.3.2.1.  Market Size & Forecast

10.3.2.1.1.  By Value

10.3.2.2.  Market Share & Forecast

10.3.2.2.1.  By Offering

10.3.2.2.2.  By Operating Frequency

10.3.2.2.3.  By Architecture

10.3.2.2.4.  By Application

10.3.2.2.5.  By Industry

10.3.3.    Argentina 5G New Radio Market Outlook

10.3.3.1.  Market Size & Forecast

10.3.3.1.1.  By Value

10.3.3.2.  Market Share & Forecast

10.3.3.2.1.  By Offering

10.3.3.2.2.  By Operating Frequency

10.3.3.2.3.  By Architecture

10.3.3.2.4.  By Application

10.3.3.2.5.  By Industry

11.    Market Dynamics

11.1.  Drivers

11.2.  Challenges

12.    Market Trends & Developments

12.1.  Merger & Acquisition (If Any)

12.2.  Product Launches (If Any)

12.3.  Recent Developments

13.    Global 5G New Radio Market: SWOT Analysis

14.    Porter's Five Forces Analysis

14.1.  Competition in the Industry

14.2.  Potential of New Entrants

14.3.  Power of Suppliers

14.4.  Power of Customers

14.5.  Threat of Substitute Products

15.    Competitive Landscape

15.1.  Huawei Technologies Co., Ltd.

15.1.1.  Business Overview

15.1.2.  Products & Services

15.1.3.  Recent Developments

15.1.4.  Key Personnel

15.1.5.  SWOT Analysis

15.2.  Qualcomm Technologies, Inc.

15.3.  Telefonaktiebolaget LM Ericsson

15.4.  Samsung Electronics Co., Ltd.

15.5.  Intel Corporation

15.6.  Cisco Systems, Inc.

15.7.  Fujitsu Limited

15.8.  NEC Corporation

15.9.  Nokia Corporation

15.10.  Keysight Technologies, Inc.

16.    Strategic Recommendations

17.    About Us & Disclaimer

Figures and Tables

Frequently asked questions

Frequently asked questions

The market size of the Global 5G New Radio Market was estimated to be USD 50.53 Billion in 2025.

Asia Pacific is the dominating region in the Global 5G New Radio Market.

Software segment is the fastest growing segment in the Global 5G New Radio Market.

The Global 5G New Radio Market is expected to grow at 28.49% between 2026 to 2031.

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