- According to a study proposed by ReportLinker, the market for test equipment for wireless communication networks is expected to grow at a compound annual growth rate of 8%.
- Globally, this market is expected to grow from $3.2 billion in 2018 to $4.7 billion by 2023.
The main growth drivers in the market include increased mobile data traffic, the increasing adoption of smart devices, technological developments in networks and communications, and increased interoperability of network technologies.
The 5G market is expected to grow at a higher than average compound annual growth rate over the forecast period. 5G standard mobile telecommunications technology offers higher data transmission speed and lower latency, as well as the ability to connect multiple devices at once. Its deployment will be driven by the growing demand for fast, high-capacity networks.
The first 5G telecommunications network was commissioned on April 3 in South Korea. Partial commissioning has already taken place in some American cities. Further deployments will soon take place in the United States, Australia, New Zealand and some Scandinavian countries. France, China and Japan are expected to follow from 2020.
Wireless network test equipment for telecommunications service providers is expected to represent a significant share of the market. Telecommunications service providers are required to test the quality and accessibility of their wireless networks before commercial deployment.
The Asia-Pacific region is expected to gain the largest market share in wireless network test equipment.