5G Advanced Market to Experience Explosive Growth, Projected to Reach USD 13 Billion by 2030

5G Advanced Market to Experience Explosive Growth, Projected to Reach USD 13 Billion by 2030

According to Next Move Strategy Consulting, the global 5G Advanced Market is expected to surge to USD 13 billion by 2030, marking a robust compound annual growth rate (CAGR) of 68% from 2024 to 2030. This rapid growth is driven by the rising demand for ultra-high-speed, low-latency connectivity, fueled by emerging applications in industries such as mobile video streaming, autonomous vehicles, smart cities, and industrial automation.

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What is 5G Advanced?
5G Advanced (5G-A) represents the next major leap in wireless technology, building upon the foundations of the original 5G standard. It delivers significantly improved data rates, lower latency, enhanced reliability, and greater capacity through advanced technologies such as massive MIMO (Multiple Input Multiple Output), beamforming, and carrier aggregation. With the ongoing digital transformation across various sectors, 5G Advanced is set to be a key enabler for applications requiring faster and more reliable connectivity, from autonomous vehicles and augmented reality (AR) to smart city infrastructure and the Internet of Things (IoT).

Market Dynamics and Growth Drivers
The increasing demand for mobile video and streaming services is one of the primary factors driving the adoption of 5G Advanced technology. As platforms like Netflix, YouTube, and Amazon Prime Video continue to gain popularity, the need for high-speed, reliable wireless networks capable of supporting massive data consumption is more urgent than ever.

Moreover, the exponential growth of the IoT sector is placing additional strain on existing network infrastructure, further fueling the need for 5G Advanced capabilities. According to IoT Analytics, global IoT connections grew by 18% in 2022, and the number is expected to reach 29 billion by 2027. To support these IoT devices, 5G Advanced will enable massive machine-type communications (mMTC) and ultra-reliable low-latency communications (URLLC) for real-time control and monitoring, creating new opportunities for industries ranging from healthcare and retail to manufacturing and automotive.

E-commerce is another sector benefiting from 5G Advanced. As the global e-commerce market expands rapidly, faster network speeds and better connectivity can enhance customer experiences, improve inventory management, and streamline business operations. The global e-commerce industry, valued at USD 58,740 billion by 2028, will undoubtedly continue to drive the need for advanced 5G solutions.

However, the high investment required for deploying 5G infrastructure remains a challenge, particularly for small- and medium-sized enterprises. Despite this, the increasing adoption of massive MIMO technology, which uses multiple antennas to boost network performance, presents a significant growth opportunity for the 5G Advanced market.

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Geographical Outlook
Asia-Pacific is currently the dominant region in the 5G Advanced market and is expected to continue leading throughout the forecast period. The region benefits from the rapid growth of the smartphone industry in countries such as China, Japan, and India, where there is strong consumer demand for faster download and upload speeds, lower latency, and more reliable connectivity. According to the China Academy of Information and Communications Technology (CAICT), China alone is set to consign 26.17 million 5G mobile phones in 2024, marking a 59% year-on-year increase.

Government initiatives and policies are also playing a crucial role in the widespread deployment of 5G Advanced technology. China's Digital Silk Road (DSR) initiative, which focuses on advancing smart city development and digital infrastructure, is a prime example of how governments are investing in 5G and other digital technologies to accelerate the development of a connected society.

In North America, the 5G Advanced market is poised for substantial growth, fueled by the increasing demand for high-speed networks in the online gaming and healthcare industries. The American Gaming Association (AGA) reported a 13.9% increase in commercial gaming revenue in 2022, which highlights the need for faster, low-latency 5G networks to improve user experience in online gaming. Additionally, the U.S. healthcare sector is leveraging 5G to enhance patient care, remote monitoring, telemedicine, and real-time data analysis, further boosting the adoption of 5G Advanced solutions.

Competitive Landscape
The 5G Advanced market is highly competitive, with leading players such as Telefonaktiebolaget LM Ericsson, Huawei Technologies, Nokia Corporation, Samsung Electronics, Qualcomm Technologies, MediaTek, AT&T, Verizon, Deutsche Telekom, and China Mobile leading the charge. These companies are adopting a range of strategies, including technological innovation, partnerships, and acquisitions, to strengthen their foothold in the rapidly expanding market.

In February 2023, Nokia, Qualcomm, and T-Mobile partnered to launch the world’s first 5G Standalone (SA) spectrum aggregation using 5CC Carrier Aggregation, which allows for faster 5G speeds and better network efficiency. This collaboration underscores the growing emphasis on innovation and the need for advanced infrastructure to meet the demands of an increasingly connected world.

Similarly, in February 2023, Ericsson and Telia introduced a 5G innovation program in Sweden to provide enterprises with a platform to develop and test 5G use cases and solutions. This initiative is expected to contribute to Sweden's competitive edge in the global 5G market and accelerate the adoption of 5G Advanced technology.

Conclusion
The 5G Advanced market is on the verge of explosive growth, with key industries such as e-commerce, IoT, autonomous vehicles, and healthcare driving demand for advanced wireless technologies. Asia-Pacific is expected to remain the dominant region, with North America showing promising growth as well. The continued adoption of massive MIMO technology and government initiatives promoting digital infrastructure are likely to drive further market expansion.

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