5G Module Market Report
5G Module Market by Applications (Fixed Wireless Access Customer Premises Equipment, Router, Internet of Vehicles, and Others (Head-mounted Display, Notebook PC, and Drone)), End-Users (IT & Telecom, Manufacturing, Healthcare, Transportation & Logistics, and Others), and Regional Analysis (North America, Europe, Asia-Pacific, and LAMEA): Global Opportunity Analysis and Industry Forecast, 2021–2028
Global 5G Module Market Analysis
The global 5G module market size is predicted to garner a revenue of $468,271.9 million in the 2021–2028 timeframe, growing from $7,400.0 million in 2020, at a healthy CAGR of 70.8%.
Technological advancements related to 5G services are expected to drive the global 5G module market growth during the forecast timeframe.
However, the high investment cost for manufacturing 5G module along with the up gradation of the technology is anticipated to hamper the market growth during the forecast period.
According to the regional analysis of the market, the Asia-Pacific 5G module market share is anticipated to grow at a CAGR of 72.1%, by generating a revenue of $106,719.2 million during the review period.
5G Module Overview
Modules typically have some memory, a small processor, and voltage management. A second radio and various extra features, such as a GPS radio or a GNSS system, are often incorporated. Since the debut of commercial 5G networks, a wide range of 5G gadgets, in addition to smartphones, have been launched in the market. 5G modules help vendors build new goods and accelerate commercialization by not only providing 5G connectivity to end devices, but also by assisting vendors in developing new products.
Covid-19 Impact on 5G Module Market
The coronavirus pandemic has unleashed a series of unprecedented events affecting every industry. Individuals, society, industries, and the global economy continue to be impacted by the COVID-19 situation around the world. The fundamental concepts of 5G services have been updated as a result of many government directives. The pandemic has halted the creation of the 5G foundation in some locations. The steps taken to slow the spread of the disease have had an impact on the timeframe for the completion of the 5G infrastructure. India's Department of Telecommunication, for example, has postponed its spectrum auction till further notice. A number of manufacturers and telecommunications providers in the industry have suffered as a result of this development.
Integration of Internet of Things (IoT) with 5G Services is Anticipated to Drive the Market Growth
5G network technology allows IoT devices to increase their performance and dependability in the (IoT) era. The introduction of 5G-enabled internet of things aims to extend the capabilities of sensor-based internet of things to actuators, robots, and drones, allowing for distributed coordination, low latency, and dependable job execution in the hands of humans. Furthermore, the IoT commercial viability is contingent on its capacity to communicate with other IoT devices, smartphones & tablets, computer programs, and other electronic equipment. The Internet of Things can connect and transport information quicker than ever before thanks to 5G network technology, creating a market potential for the 5G modules sector.
To know more about global 5G module market trends, get in touch with our analysts here.
High Investment Cost in 5G Might Restrict the Market Growth
The move from 4G to 5G technology would necessitate massive investments for the manufactures as they would have to setup the whole technology as well as network related upgradation. The cost of 5G infrastructure is influenced by the required throughput density, periodic interest rate, and base station pricing. These costs must be cut in order to execute effective and ultra-dense micro cell deployments. The issue for communication services providers (CSPs) in migrating to 5G is justifying multibillion-dollar investments in new network equipment needed to change their network to a virtualized infrastructure, transfer services from 3G to 4G to 5G, and safeguard their business from ever-increasing interruptions and cyber threats.
Technological Advancements are Expected to Increase the Opportunities in the 5G Module Market
The growing popularity of IoT use cases in a variety of industries that require wide-area connectivity and the ability to handle a large number of connections has spurred the demand for massive IoT solutions. Massive IoT is gradually gaining traction as a new focus for IoT connectivity. Massive IoT is an intriguing possibility for 5G, but Telcos are currently reliant on current cellular IoT standards, such as NB-IoT, in the early stages of the technology. 5G networks are expected to allow the widespread deployment of intelligent IoT nodes in a range of settings. It will also provide a firm platform for the widespread adoption of critical communications services.
To know more about global 5G module market opportunities, get in touch with our analysts here.
5G Module Market
Source: Research Dive Analysis
The internet of vehicles sub-segment is predicted to have the fastest growth rate of 71.8% and register a revenue of $123,201.9 million during the forecast period. The growing demand for connected vehicles in the developed and the developing countries is anticipated to boost the market growth in the near future. The rising demand for tracking, security, and sharing of the information related to accidents to emergency contacts is projected to boost the market demand over the coming years. The increasing demand for connected vehicles which are equipped with software, sensors, and other technologies will increase the safety of the cars and boost the sub-segment market growth.
5G Module Market
Source: Research Dive Analysis
The transportation & logistics sub-segment is anticipated to have the fastest market growth during the forecast period and generate a revenue of $138,765.8 million by 2028, growing from $2,090.5 million in 2020, with a CAGR of 72.2%. With the help of high speed 5G connectivity, the security authorities will be able to monitor the roads and other places with the help of cameras and receive the data of the security breaches and the accidents similar to real time data. Additionally, more comprehensive electronic traffic signaling systems that can help in achieving optimized traffic flow management are anticipated to drive the growth of the transportation & logistics sub-segment.
Global 5G Module Market, Regional Insights:
The 5G module market was inspected across North America, Europe, Asia-Pacific, and LAMEA.
Source: Research Dive Analysis
The Market for 5G Module in Asia-Pacific to be the Fastest Growing
Asia-Pacific 5G module market is anticipated to have the fastest growing market during the forecast time period and reach $106,719.2 million by 2028, with a CAGR of 72.1%. This growth is majorly due to the presence of the key network providers as well as the presence of the key market players. Additionally, due to the Asia-pacific region's large mobile subscriber base, businesses are becoming more competitive and focusing on providing superior customer service. Due to customer base size, variety, and strategic leadership by countries such as Singapore, South Korea, China, Australia, and Japan, the area is poised to dominate 5G, edge computing, blockchain, and 5G core technologies.
Competitive Scenario in the Global 5G Module Market
Product launches and mergers & acquisitions are common strategies followed by major market players.
Source: Research Dive Analysis
Some of the leading 5G module market players are Amazon, Apple, AT&T, Vodafone, Huawei, Google, Samsung, Sierra Wireless, Telit, and Quectel.
Porter’s Five Forces Analysis for the Global 5G Module Market:
- Bargaining Power of Suppliers: 5G module market contains huge concentration of distributors & suppliers and therefore, the distributors & suppliers’ control is predicted to be reasonable, resulting in moderate bargaining power of dealers.
Thus, the bargaining power of the suppliers is considered to be moderate.
- Bargaining Power of Buyers: Buyers might have moderate bargaining power, significantly because of high players functioning in the 5G module market.
Therefore, the bargaining power of the buyer is moderate.
- Threat of New Entrants: Companies entering the 5G module market are adopting technological innovations such as artificial intelligence, internet of things, and others. But since the investment cost is high,
the threat of the new entrants is moderate.
- Threat of Substitutes: There are no substitutes for 5G module.
Thus, the threat of substitutes is low.
- Competitive Rivalry in the Market: The competitive rivalry among industry leaders is rather intense, especially between the global players including Telit, Quectel, and AT&T. These companies are strengthening their footprint worldwide.
Therefore, competitive rivalry in the market is high.
Historical Market Estimations
Base Year for Market Estimation
Forecast Timeline for Market Projection
North America, Europe, Asia-Pacific, LAMEA
Segmentation by Application
Segmentation by End-Users
Key Companies Profiled
Q1. What is the size of the global 5G module market?
A. The size of the global 5G module market was over $ 7,400.0 million in 2020 and is projected to reach $ 468,271.9 million by 2028.
Q2. Which are the major companies in the 5G module market?
A. AT&T, Telit, and Sierra Wireless are some of the key players in the global 5G module market.
Q3. Which region, among others, possesses greater investment opportunities in the near future?
A. region The Asia-Pacific possesses great investment opportunities for investors to witness the most promising growth in the future.
Q4. What will be the growth rate of the Asia-Pacific 5G module market?
A. Asia-Pacific 5G module market is anticipated to grow at 72.1% CAGR during the forecast period.
Q5. What are the strategies opted by the leading players in this market?
A. Technological development and strategic partnerships are the key strategies opted by the operating companies in this market.
1.2.Real time insights and validation
1.4.Assumptions and forecast parameters
3.1.Market segmentation & definitions
3.2.1.Top investment pockets
3.2.2.Top winning strategies
3.3.Porter’s five forces analysis
3.3.1.Bargaining power of consumers
3.3.2.Bargaining power of suppliers
3.3.3.Threat of new entrants
3.3.4.Threat of substitutes
3.3.5.Competitive rivalry in the market
3.8.Market value chain analysis
4.5G Module Market, by Application
4.1.Fixed Wireless Access Customer Premises
4.1.1.Market size and forecast, by region, 2021-2028
4.1.2.Comparative market share analysis, 2021 & 2028
4.2.1.Market size and forecast, by region, 2021-2028
4.2.2.Comparative market share analysis, 2021 & 2028
4.3.Internet of Vehicles
4.3.1.Market size and forecast, by region, 2021-2028
4.3.2.Comparative market share analysis, 2021 & 2028
4.4.1.Market size and forecast, by region, 2021-2028
4.4.2.Comparative market share analysis, 2021 & 2028
5.5G Module Market, by End-users
5.1.IT & Telecom
5.1.1.Market size and forecast, by region, 2021-2028
5.1.2.Comparative market share analysis, 2021 & 2028
5.2.1.Market size and forecast, by region, 2021-2028
5.2.2.Comparative market share analysis, 2021 & 2028
5.3.1.Market size and forecast, by region, 2021-2028
5.3.2.Comparative market share analysis, 2021 & 2028
5.4.Transportation & Logistics
5.4.1.Market size and forecast, by region, 2021-2028
5.4.2.Comparative market share analysis, 2021 & 2028
5.5.1.Market size and forecast, by region, 2021-2028
5.5.2.Comparative market share analysis, 2021 & 2028
6.5G Module Market, by Region
6.1.1.Market size and forecast, by Application, 2021-2028
6.1.2.Market size and forecast, by End-user, 2021-2028
6.1.3.Market size and forecast, by country, 2021-2028
6.1.4.Comparative market share analysis, 2021 & 2028
184.108.40.206.Market size and forecast, by Application, 2021-2028
220.127.116.11.Market size and forecast, by End-user, 2021-2028
18.104.22.168.Comparative market share analysis, 2021 & 2028
22.214.171.124.Market size and forecast, by Application, 2021-2028
126.96.36.199.Market size and forecast, by End-user, 2021-2028
188.8.131.52.Comparative market share analysis, 2021 & 2028
184.108.40.206.Market size and forecast, by Application, 2021-2028
220.127.116.11.Market size and forecast, by End-user, 2021-2028
18.104.22.168.Comparative market share analysis, 2021 & 2028
6.2.1.Market size and forecast, by Application, 2021-2028
6.2.2.Market size and forecast, by End-user, 2021-2028
6.2.3.Market size and forecast, by country, 2021-2028
6.2.4.Comparative market share analysis, 2021 & 2028
22.214.171.124.Market size and forecast, by Application, 2021-2028
126.96.36.199.Market size and forecast, by End-user, 2021-2028
188.8.131.52.Comparative market share analysis, 2021 & 2028
184.108.40.206.Market size and forecast, by Application, 2021-2028
220.127.116.11.Market size and forecast, by End-user, 2021-2028
18.104.22.168.Comparative market share analysis, 2021 & 2028
22.214.171.124.Market size and forecast, by Application, 2021-2028
126.96.36.199.Market size and forecast, by End-user, 2021-2028
188.8.131.52.Comparative market share analysis, 2021 & 2028
184.108.40.206.Market size and forecast, by Application, 2021-2028
220.127.116.11.Market size and forecast, by End-user, 2021-2028
18.104.22.168.Comparative market share analysis, 2021 & 2028
22.214.171.124.Market size and forecast, by Application, 2021-2028
126.96.36.199.Market size and forecast, by End-user, 2021-2028
188.8.131.52.Comparative market share analysis, 2021 & 2028
6.2.10.Rest of Europe
184.108.40.206.Market size and forecast, by Application, 2021-2028
220.127.116.11.Market size and forecast, by End-user, 2021-2028
18.104.22.168.Comparative market share analysis, 2021 & 2028
6.3.1.Market size and forecast, by Application, 2021-2028
6.3.2.Market size and forecast, by End-user, 2021-2028
6.3.3.Market size and forecast, by country, 2021-2028
6.3.4.Comparative market share analysis, 2021 & 2028
22.214.171.124.Market size and forecast, by Application, 2021-2028
126.96.36.199.Market size and forecast, by End-user, 2021-2028
188.8.131.52.Comparative market share analysis, 2021 & 2028
184.108.40.206.Market size and forecast, by Application, 2021-2028
220.127.116.11.Market size and forecast, by End-user, 2021-2028
18.104.22.168.Comparative market share analysis, 2021 & 2028
22.214.171.124.Market size and forecast, by Application, 2021-2028
126.96.36.199.Market size and forecast, by End-user, 2021-2028
188.8.131.52.Comparative market share analysis, 2021 & 2028
184.108.40.206.Market size and forecast, by Application, 2021-2028
220.127.116.11.Market size and forecast, by End-user, 2021-2028
18.104.22.168.Comparative market share analysis, 2021 & 2028
22.214.171.124.Market size and forecast, by Application, 2021-2028
126.96.36.199.Market size and forecast, by End-user, 2021-2028
188.8.131.52.Comparative market share analysis, 2021 & 2028
6.3.10.Rest of Asia-Pacific
184.108.40.206.Market size and forecast, by Application, 2021-2028
220.127.116.11.Market size and forecast, by End-user, 2021-2028
18.104.22.168.Comparative market share analysis, 2021 & 2028
6.4.1.Market size and forecast, by Application, 2021-2028
6.4.2.Market size and forecast, by End-user, 2021-2028
6.4.3.Market size and forecast, by country, 2021-2028
6.4.4.Comparative market share analysis, 2021 & 2028
22.214.171.124.Market size and forecast, by Application, 2021-2028
126.96.36.199.Market size and forecast, by End-user, 2021-2028
188.8.131.52.Comparative market share analysis, 2021 & 2028
184.108.40.206.Market size and forecast, by Application, 2021-2028
220.127.116.11.Market size and forecast, by End-user, 2021-2028
18.104.22.168.Comparative market share analysis, 2021 & 2028
22.214.171.124.Market size and forecast, by Application, 2021-2028
126.96.36.199.Market size and forecast, by End-user, 2021-2028
188.8.131.52.Comparative market share analysis, 2021 & 2028
7.1.4.Recent strategic moves & developments
7.2.4.Recent strategic moves & developments
7.3.4.Recent strategic moves & developments
7.4.4.Recent strategic moves & developments
7.5.4.Recent strategic moves & developments
7.6.4.Recent strategic moves & developments
7.7.4.Recent strategic moves & developments
7.8.4.Recent strategic moves & developments
7.9.4.Recent strategic moves & developments
7.10.4.Recent strategic moves & developments
The introduction of 5G technology is generating never-before-seen opportunities for individuals as well as businesses. Various business verticals are seeing 5G as a game-changer as it facilitates faster, more stable, and secure connectivity that is evolving everything from autonomous vehicles, smart grids for renewable energy to AI-enabled machines in factories. The integration of 5G and Internet of things (IoT) technology is more than merely a next-generation of wireless technology. It signifies a major change in the mobile ecosystem, resulting in a potent amalgamation of amazing speed, extended bandwidth, low latency, and amplified power efficacy that is motivating billions of more connections in the upcoming years.
Researchers have predicted that 5G connections are likely to increase from 10 million in 2019 to 1.8 billion by 2025. 5G is finally rolling out an accelerating speed in some countries in many IoT applications. With 5G module, the creation of a safer, smarter, and more sustainable future is emerging. The rising fame of IoT applications in a wide array of industries that need wide-area connectivity and the potential of IoT to deal with a huge number of connections has impelled the demand for gigantic IoT solutions. From assisting remote robotic surgeries and autonomous vehicles to enhancing crop management, 5G is expected to reinforce numerous industrial sectors worldwide. The 5G module greatly finds applications in various industries including healthcare, automotive, farming, manufacturing, media, and smart cities.
Latest Trends in the 5G Module Market
As per a report by Research Dive, the global 5G module market is expected to grow from $7,400.0 million in 2020 to $468,271.9 million by 2028. Asia-Pacific region is the leading user of 5G module and is expected to grow speedily in the 5G module market by garnering a revenue of $106,719.2 million by 2028.
Market players are considerably investing in research and development to cater the mounting demand for 5G module. Some of the leading players of the 5G module market are Huawei, Apple, AT&T, Vodafone, Samsung, Telit, Google, Quectel, Amazon, Sierra Wireless, and others. These players are concentrated on developing strategies such as mergers and acquisitions, partnerships, novel developments, and collaborations to achieve a prominent position in the global market.
- In April 2021, Fibocom, a foremost provider of a variety of IoT modules to meet the connectivity needs of different IoT scenarios, globally launched 5G smart module SC161 based on Qualcomm QCM6350 to enable the wireless communication requirements of industries that need powerful computing power and local computation.
- In May 2021, Quectel Wireless Solutions, a foremost global provider of 5G, LTE, LTE-A, Smart Module, LPWA, GSM/GPRS, C-V2X, UMTS/HSPA(+) and GNSS modules, announced the launch of two novel 5G New Radio (NR) module series, the RG500S and RM500S to hasten commercial usage of 5G SA devices.
- In June 2021, MeiG Smart, a leading provider of smart modules and solutions and a global leader in supplying cellular modules and solutions, formally proclaimed the launch of its 5G smart module-SRM930 series based on Qualcomm Technologies, Inc.’s new 5G solution, the Qualcomm QCM6490.
COVID-19 Impact on the 5G Module Market
The abrupt rise of the coronavirus pandemic in 2020 has significantly impacted the global 5G module market. This is mainly due to the cessation of 5G advancements and launch during the pandemic period. Also, presence of several difficulties in the foundation of 5G infrastructure at several sites during the pandemic has hampered the market growth. However, as the global economy is recovering with the relaxation of pandemic, the 5G module market is expected to gain traction with a notable surge in the IoT application across the globe. This is likely to propel the 5G module market growth in the forthcoming years.