Allied Market Research: Global Small 5G Network Market Size to Reach $8.32 Billion in 2027

On November 5, a report recently released by market research firm Allied Market Research predicted that by 2027, the global small 5G network market will reach US$8.32 billion.

The report shows that the global small 5G network industry size was US$478 million in 2019 and is expected to reach US$8.32 billion by 2027, with a compound annual growth rate of 43.0% from 2020 to 2027.

The small 5G network market is segmented into components, radio technology, frequency band, cellular type, application, end user, and region. Based on component, the market is segmented into solutions and services. The solutions segment accounted for the largest share in 2019, accounting for about two-thirds of the global small 5G network market. However, the services segment is expected to achieve the fastest CAGR of 45.7% during the forecast period.

By frequency band, the market is segmented into low-band, mid-band, and millimeter wave. The millimeter wave band is expected to show the fastest CAGR of 49.80% during the forecast period. However, mid-band held the largest share in 2019, accounting for more than two-fifths of the global small 5G network market.

In terms of regions, the report analyzes the markets in North America, Europe, Asia Pacific, and Latin America. The Asia Pacific region is expected to have the fastest CAGR of 47.90% by 2027.

Increased network density, rising mobile data traffic, and growing investments in 5G infrastructure in several economies have contributed to the growth of the global small 5G network market. On the other hand, challenges in network deployment and concerns over fiber backhaul have hampered the market growth to a certain extent. However, the advent of the Internet of Things and the increasing demand for ultra-reliable, low-latency communications are expected to bring a plethora of opportunities in the near future.