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5G Wireless Module Market

5G Wireless Module Market Size, Share and Trends Analysis By Type, By Application, By Region (North America, Europe, Asia Pacific, LAMEA) and Forecast, 2024-2032

The global 5G wireless module market was valued at USD 643.01 million in 2024. It is estimated to reach USD 1,026.09 million by 2032, growing at a CAGR of 5.33% during the forecast period (2024–2032). In the past few years, the demand for 5G modules, which are essential for wireless communication in various devices, has increased as industries adopt IoT solutions and smart technologies.

These modules allow faster data transfer, reduced latency, and higher device connectivity, which makes them pivotal for sectors like telecommunications, automotive, industrial automation, and healthcare. Thus, with the ongoing innovations in 5G technology, the demand for these modules is expected to surge.

5G wireless modules allow devices to access 5G networks, enabling faster downloads, real-time data streaming, and seamless communication between connected devices. Their applications range from autonomous vehicles and smart cities to telemedicine and industrial automation, supporting the expansion of next-generation wireless ecosystems and transforming digital infrastructure.

Market Overview

A 5G wireless module is a compact device that enables high-speed wireless communication based on fifth-generation (5G) technology. These modules are designed for integration into various electronic devices, such as smartphones, IoT devices, vehicles, and industrial equipment, providing ultra-fast data transfer rates, low latency, and enhanced connectivity.

5G Wireless Module Market 2019 2020 2021 2022 2023 2024 2025 2026 2028 2029 2030 2031 $XX.X Million $XX.X Million CAGR 5.33% Historical Years Forecast Years
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Market Drivers

Growing Adoption of IoT and Smart Devices

The widespread adoption of IoT (Internet of Things) and smart devices is a significant driver for the 5G wireless module market. IoT devices require fast and reliable connectivity to function efficiently, which is where 5G modules play a critical role. As industries move towards automation and interconnected systems, demand for high-speed communication networks grows.

According to the International Data Corporation (IDC), there will be 41.6 billion connected IoT devices by 2025, generating 79.4 zettabytes of data. This massive influx of connected devices necessitates 5G technology, which can support high device density and rapid data transmission. Additionally, smart cities and autonomous vehicles, both highly reliant on IoT ecosystems, will further drive the demand for 5G wireless modules. 

Market Restraint

High Costs Associated with 5G Infrastructure

The high cost of 5G infrastructure is a significant restraint in the market. Setting up 5G networks involves substantial investments in new technologies, equipment, and spectrum allocations. As per a report by the GSM Association (GSMA), the global telecom industry will invest over $1 trillion in 5G infrastructure between 2021 and 2025.

For telecom operators, these high initial investments can be challenging, particularly in regions with underdeveloped digital infrastructure. Moreover, 5G wireless modules, being advanced technologies, are more expensive than their 4G counterparts. The higher cost of production and integration of these modules into devices can deter small and medium-scale enterprises from adopting them, limiting market growth. 

Market Opportunities

Rising Demand for 5G in Autonomous Vehicles and Industrial Automation

The increasing demand for 5G technology in autonomous vehicles and industrial automation presents a significant opportunity for the 5G wireless module market. Autonomous vehicles rely on real-time data communication, requiring ultra-reliable, low-latency networks, which 5G modules provide.

According to the International Energy Agency (IEA), global sales of electric vehicles, which will heavily rely on 5G technologies, surpassed 10 million units in 2022, a 55% increase from the previous year. Additionally, industries are increasingly automating their operations, requiring seamless machine-to-machine communication. 5 G's ability to connect a vast number of devices with high-speed data transfer will be a game-changer for smart manufacturing and logistics, thus creating immense growth potential for 5G wireless module manufacturers. 

Market Scope

Report Metric Details
Market Size by 2031 USD XX Million/Billion
Market Size in 2023 USD XX Million/Billion
Market Size in 2022 USD XX Million/Billion
Historical Data 2021-2023
Base Year 2023
Forecast Period 2025-2033
Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, Environment & Regulatory Landscape and Trends
Segments Covered

5G Wireless Module Market Segmentations

  1. By Module Type
    1. Radiofrequency Modules
    2. Baseband Modules
    3. Antenna Modules
  2. By Applications
    1. Smart Phones
    2. Computers
    3. Wearable Devices
    4. Home Appliance
    5. Commercial IoT Devices
    6. Industrial IoT Devices
    7. Automobile
    8. Others
Geographies Covered
  1. North America
  2. Europe
  3. APAC
  4. Middle East and Africa
  5. LATAM
Companies Profiles
  1. Quectel
  2. Huawei
  3. Samsung Electronics Co. Ltd.
  4. MediaTek Inc.
  5. Fibocom Wireless Inc.
  6. Sunsea Group
  7. Advantech
  8. Sierra Wireless
  9. Gemalto (Thales Group)
  10. others.

Segmental Analysis of the Global Market

The global 5G wireless module market is segmented by module type and application

Based on module type, the global 5G wireless module market is divided into radiofrequency modules, baseband modules, and antenna modules.

Baseband modules play a critical role in 5G wireless modules by handling all digital signal processing and controlling the radio frequency (RF) components required for communication. In the 5G era, these modules are essential for managing high data rates, low latency, and wide bandwidth, making them indispensable in various devices. As demand for 5G-enabled smartphones, IoT devices, and autonomous systems increases, the baseband module segment is expected to see significant growth. Major players like Qualcomm and MediaTek dominate this space by offering cutting-edge baseband solutions.

Based on application, the global 5G wireless module market is segmented into smartphones, computers, wearable devices, home appliances, commercial IoT devices, industrial IoT devices, automobiles, and others.

The smartphone segment is the largest consumer of 5G wireless modules, driven by the rapid adoption of 5G-enabled devices worldwide. As consumers seek faster data speeds and enhanced connectivity, 5G smartphones are becoming mainstream. According to IDC, global shipments of 5G smartphones reached 680 million units in 2023, up from 560 million in 2022. This surge is fueled by advancements in mobile technology, growing demand for streaming services, and increased usage of mobile applications. Manufacturers like Apple, Samsung, and Xiaomi are leading the segment with their 5G smartphone offerings.

5G Wireless Module Market Analysis ByBy Module Type Radiofrequency Modules Baseband Modules Antenna Modules ByBy Applications Smart Phones Computers Wearable Devices Home Appliance Commercial IoT Devices Industrial IoT Devices Automobile Others By Region North America Europe APAC Middle East and Africa LATAM Key Players Quectel Huawei Samsung Electronics Co. Ltd. MediaTek Inc. Fibocom Wireless Inc. & More ...

Regional Analysis of the Global Market

Asia-Pacific

The Asia-Pacific region dominates the global 5G wireless module market, driven by rapid technological advancements and extensive 5G network deployments in countries like China, Japan, and South Korea. China, a global leader in 5G infrastructure, had installed over 2.3 million 5G base stations by the end of 2023, accounting for more than 60% of the world's total base stations. This massive investment in infrastructure has fueled demand for 5G wireless modules, particularly in industries such as automotive, manufacturing, and telecommunications.

In South Korea and Japan, 5G networks are being used to power smart factories and autonomous vehicles. South Korea, one of the earliest adopters of 5G, plans to commercialize 6G by 2028, enhancing the region's dominance in wireless technology. Moreover, the proliferation of 5G-enabled smartphones across the region further accelerates market growth. With key players like Huawei, Samsung, and MediaTek headquartered in this region, Asia-Pacific remains a key hub for innovation and production in the global 5G wireless module market.

North America

North America plays a pivotal role in the global 5G wireless module market, driven primarily by the United States' leadership in 5G adoption and technological innovation. The region's advanced digital infrastructure, along with the presence of key market players such as Qualcomm and Sierra Wireless, accelerates the growth of 5G wireless modules. As of 2023, 5G network coverage in the U.S. has reached over 75% of the population, fueled by major investments from telecom giants like Verizon, AT&T, and T-Mobile.

Additionally, industries like automotive, healthcare, and manufacturing are rapidly adopting 5G technology. For instance, the U.S. healthcare sector is utilizing 5G modules to enable telemedicine and real-time patient monitoring. According to the GSMA, by 2025, North America is expected to have 205 million 5G connections, accounting for 53% of all mobile connections in the region. Furthermore, the rise of autonomous vehicles and smart factories in the U.S. will continue to boost the demand for 5G wireless modules, making North America a crucial region for market growth.

5G Wireless Module Market Regional Analysis
Regional Growth Insights Download Free Sample

Top Market Players in 5G Wireless Module Industry

  1. Quectel
  2. Huawei
  3. Samsung Electronics Co. Ltd.
  4. MediaTek Inc.
  5. Fibocom Wireless Inc.
  6. Sunsea Group
  7. Advantech
  8. Sierra Wireless
  9. Gemalto (Thales Group)
  10. Others

September 2024- Semtech Corporation (Nasdaq: SMTC), a provider of high-performance semiconductors, IoT systems, and cloud connectivity services, announced the sampling of the GN2255S, its next-generation Tri-Edge™ 50 Gbps clock and data recovery (CDR) device with an integrated DML driver for SFP56 50G PAM4 bidirectional (BiDi) and CWDM6 optical modules.

5G Wireless Module Market Segmentations

By Module Type

  • Radiofrequency Modules
  • Baseband Modules
  • Antenna Modules

By Applications

  • Smart Phones
  • Computers
  • Wearable Devices
  • Home Appliance
  • Commercial IoT Devices
  • Industrial IoT Devices
  • Automobile
  • Others

Frequently Asked Questions

What is the projected growth of the 5G Wireless Module market?
The 5G Wireless Module market is expected to grow significantly due to the increasing demand for high-speed internet, improved latency, and the growing adoption of IoT devices across various sectors. The market is projected to reach a substantial market value, with a CAGR (Compound Annual Growth Rate) ranging from 20% to 30% in the coming years, driven by advances in communication technology and consumer demand for faster networks.
The primary adopters include industries such as automotive (for connected cars), healthcare (for telemedicine and remote monitoring), smart cities, industrial automation (IoT applications), and consumer electronics. Each of these industries benefits from the enhanced connectivity, speed, and reduced latency offered by 5G technology.
Challenges in the market include high deployment costs, complexity in infrastructure setup, and the need for significant capital investment. Moreover, regulatory issues, security concerns, and the limited availability of spectrum in certain regions could hinder the market's expansion. Developing economies may face challenges related to the deployment of 5G infrastructure, limiting the market’s reach in some areas.
Major players in the market include companies like Huawei, Qualcomm, Ericsson, Nokia, and Samsung. In addition to these tech giants, there are specialized manufacturers like Sierra Wireless, Telit, and Quectel, which provide modules that cater to the needs of various IoT and industrial applications. These companies are driving innovation and collaborating with network providers to increase the market reach of 5G modules.
Some technological trends include the integration of artificial intelligence (AI) for network optimization, edge computing to process data closer to the end-users, and the use of mmWave technology for increased data speeds. In addition, the growing adoption of Massive MIMO (Multiple Input Multiple Output) technology and network slicing is enhancing the efficiency and flexibility of 5G modules, enabling better use cases for different industries.

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