Next Generation Wireless Communication Market Size

Next Generation Wireless Communication Market Overview

The Next Generation Wireless Communication Market is projected to grow from USD 36.17 billion in 2024 to USD 133.77 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 17.76% during the forecast period (2024 - 2032). Additionally, the market size for next generation wireless communication was valued at USD 30.01 billion in 2023.

Increasing consumer electronics adoption and substantial shifts in the industry size of connection services are the key market drivers contributing to market growth and expansion.

Figure 1: Next Generation Wireless Communication Market Size, 2023-2032 (USD Billion)

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Next-Generation Wireless Communication Market Trends

Growing consumer electronics adoption is driving the market growth

The rising consumer electronics adoption drives market CAGR for next-generation wireless communication. The increasing demand for smooth and dependable communication networks in different applications such as medical care, defense, and public safety drives the next-generation Wireless Communication industry. The advancement of 5G connectivity, which provides high-speed connection, minimal latency, and high dependability, further propels market expansion. This technology is projected to aid the development of future innovations like virtual reality (VR), augmented reality (AR), and self-driving cars.

Additionally, the significant shifts in the size of the market for connection services, as well as the rising demand on a worldwide scale, are opening up several options. Big network organizations seek investment possibilities and expand their reach by offering online education and training. Furthermore, introducing dependable internet and information services as a need during the epidemic has resulted in worldwide alliances and acquisitions for product creation and implementation. Another benefit is the development of 5G technology. Furthermore, the growing acceptance of cloud-based and computing technologies propels the Next Generation Wireless Communication business forward. These technologies need high-speed, low-latency communication networks to allow immediate information processing and evaluation. The rising usage of Technology for wireless communication in the manufacturing industry that would enable direct control and monitoring of machinery and equipment is also driving the market.

COVID-19, as well as the implementation of a global lockdown, had a negative impact on lives, production, enterprises, and industries. The pandemic was exclusively responsible for transforming lifestyles and working methods. As the world's leading players shifted towards working from home, the need for next-generation communication technologies increased. A steady connection and fast speed to support working and educational platforms fuel the expansion of the wireless communication business during and after the COVID period. Wireless detectors and links and the broad desire for a wireless communication industry saw increased demand throughout the COVID-19 period. As a result, while big firms struggled with manufacturing, the next-generation wireless communication sector continued to produce and respond to needs on a far greater scale.

For instance, the Cisco VNI Worldwide Mobile Data Traffic Forecast predicts that mobile data will grow at a CAGR of 46% between 2017 to 2022, hitting 77.5 exabytes per month by 2022. A 5G connection would generate 2.6 times the traffic of a typical 4G connection by 2022. The effective network quality needed by implementing 5G will meet rising data demand. Thus, it is anticipated that demand for Next-Generation Wireless Communication will increase throughout the projection period due to the rising consumer electronics adoption. Thus, driving the Next Generation of Wireless Communication market revenue.

Next Generation Wireless Communication Market Segment Insights

Next Generation Wireless Communication Technology Insights

The global Next Generation Wireless Communication market segmentation, based on Technology, includes Wireless LAN, 3G, 4G LTE, and 5G. The wireless LAN segment dominated the market, accounting for 43% of market revenue (USD 10.7 Billion) in 2022. 5G is expected to grow significantly during the projected timeframe. It provides high-speed connections, low latency, and high reliability, boosting the overall market growth.

Figure 2: Next Generation Wireless Communication Market, by Technology, 2022 & 2032 (USD Billion)

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Next Generation Wireless Communication Application Insights

The global Next Generation Wireless Communication market segmentation, based on Application, includes Consumer Electronics, Telecommunication, Aerospace & Defense, Retail, Automotive, and Healthcare. The consumer electronics category generated the highest market revenue of about 37% (USD 9.2 billion) in 2022. The ability of online services to meet the increased need for seamless data storage and computing in consumer electronic devices is increasing. Telecommunications is expected to grow significantly during the expected timeframe due to advancement in 5G infrastructure, which will boost the overall market growth.

Next Generation Wireless Communication Regional Insights

By region, the research provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The North American Next Generation Wireless Communication market will dominate this market during the projected timeframe because of the existence of large technological businesses and the rapid adoption of modern innovations, which will boost the market growth in the North American region.

Further, the major countries studied in the market report are the US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 3: Next-Generation Wireless Communication Market Share by Region 2022 (USD Billion)

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Europe region’s Next Generation Wireless Communication market accounts for the second-largest market share due to higher expenditures in 5G infrastructure. Further, the German Next Generation Wireless Communication market holds the largest market share, and the UK Next Generation Wireless Communication market is expected to grow and expand significantly in the European region during the projected timeframe.

The Asia-Pacific Next Generation Wireless Communication Marketis expected to grow quickly during the projected timeframe. This is due to the rising use rate of phones and a growing demand for modern communication technology. Moreover, China’s Next Generation Wireless Communication market dominates the market share, and the Indian Next Generation Wireless Communication market is expected to expand and grow steadily in the Asia-Pacific region during the projected timeframe.

Next Generation Wireless Communication Key Market Players & Competitive Insights

Leading market players invested heavily in research and Development (R&D) to scale up their manufacturing units and develop technologically advanced solutions, which will help the Next Generation Wireless Communication market grow worldwide. Market participants are also undertaking various organic or inorganic strategic approaches to strengthen and expand their global footprint, with significant market developments including new product portfolios, contractual deals, mergers and acquisitions, capital expenditure, higher investments, and strategic alliances with other organizations. Businesses are also coming up with marketing strategies such as digital marketing, social media influencing, and content marketing to increase their scope of profit earnings. The Next Generation Wireless Communication industry must offer cost-effective and sustainable options to survive in a highly fragmented and dynamic market climate.

Manufacturing locally to minimize operational expenses and offer aftermarket services to customers is one of the critical business strategies organizations use in the global Next Generation Wireless Communication industry to benefit customers and capture untapped market share and revenue. The Next Generation Wireless Communication industry has recently offered significant advantages to the electronics industry. Moreover, more industry participants are utilizing and adopting cutting-edge Technology has grown substantially. Major players in the Next Generation Wireless Communication market, including ZTE Corporation (China), AT&T (US), Huawei (China), Intel Corporations (US), Cisco Systems (US), Qualcomm (US), IBM Corporations (US), and NEC (Japan), are attempting to expand market share and demand by investing in R&D operations to produce sustainable and affordable solutions.

AT&T, Inc. is a multinational corporation that provides telecommunications, media, and technology services. The Xandar section offers advertising services. The firm was established in 1983 and has its headquarters in Dallas, Texas. It works in four divisions: Communications, Warner Media, Latin America, and Xandr. The Communications section provides services to companies and customers in the United States and its territories and enterprises worldwide. Recently, AT&T spent more than $1.3 billion on wireless communication technology.

QUALCOMM, Inc. is a company that develops, designs and sells digital telecommunications devices and services. It was established in July 1985 and has its headquarters in San Diego, CA. It is a firm made up of inventors with varied talents and experiences who are passionate about improving communication worldwide. Qualcomm CDMA Technologies (QCT), Qualcomm Technologies Licencing (QTL), and Qualcomm Strategic Initiatives (QSI) are its business segments. Qualcomm Technologies Inc. teamed with Corning Inc. in February 2020 to create 5G mmWave infrastructure solutions for companies and public places, accelerating in-building 5G implementation. The 5G solutions aim to integrate the company's 5G and mmWave technologies with Corning's small cell knowledge to create cost-effective, simple-to-install 5G-ready interior networks.

Key Companies in the Next Generation Wireless Communication market include

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  ZTE Corporation (China)

  
  


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  AT&T (US)

  
  


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  Huawei (China)

  
  


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  Intel Corporations (US)

  
  


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  Cisco Systems (US)

  
  


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  Qualcomm (US)

  
  


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  IBM Corporations (US)

  
  


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  NEC (Japan)

  
  

Next-Generation Wireless Communication Industry Developments

In February 2020, Qualcomm Technologies Inc. and Corning Inc. joined forces to create 5G millimeter wave infrastructures for enterprise and public venues, which are expected to accelerate in-building 5G. These 5G systems will enable Qualcomm, as a market leader in mmWave technology, to leverage Corning’s expertise in small-cell architecture and offer a cost-effective indoor network based on the latest 5G specifications.

February 2019: Through their strategic partnership agreement, Marvell Technology Group Ltd and Samsung Corporation expanded their services into different regions of the world, aiming at capturing a greater share of global markets mainly through their core business units. Under this arrangement, both partners are working together on several generations of radio and control plane processors that will cater to LTE together with NR (5GN).

December 2023 - Huawei stated that its Next-Generation Mobile Internet had been accepted by its 5.5G Intelligent Packet Core Network offering so as to support an intelligent 5.5 G core network, among other things. The trend has necessitated changes such as those made by Huawei to its product lines, which have seen the need for an increasing number of ten giga pipes and smarter networks.

September 2023 – Nokia has introduced a new family product portfolio called Service Interconnect Router (SXR) under the IP router portfolio, bringing the service router performance, assurance, security, and sustainability customers have come to expect from Nokia at the IP edge and into advanced IP access & aggregation networks. These addresses increased capacity & capability demands driven by broadband investment & developing cloud network architectures by targeting smaller/distributed IP edge locations with these platforms’ scale and capabilities.

NVIDIA has launched its groundbreaking platform, Research Cloud, for the development of sixth-generation wireless technologies and innovation acceleration. NVIDIA has designed this breakthrough platform with AI integrated into radio access network technology, opening opportunities for trillions of device connectivity advancements toward cloud infrastructures. At its most advanced stage, this means a world with smart environments, autonomous cars, immersive education technologies, and collaborative robots.

Next Generation Wireless Communication Market Segmentation

Next Generation Wireless Communication Technology Outlook

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  Wireless LAN

  
  


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  3G

  
  


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  4G LTE

  
  


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  5G

  
  

Next Generation Wireless Communication Application Outlook

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  Consumer Electronics

  
  


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  Telecommunication

  
  


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  Aerospace & Defense

  
  


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  Retail

  
  


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  Automotive

  
  


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  Healthcare

  
  

Next Generation Wireless Communication Regional Outlook

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  North America

  
  

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  US

  
  


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  Canada

  
  

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  Europe

  
  

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  Germany

  
  


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  France

  
  


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  UK

  
  


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  Italy

  
  


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  Spain

  
  


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  Rest of Europe

  
  

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  Asia-Pacific

  
  
  
  
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    China

    
    
  
  
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    Japan

    
    
  
  
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    India

    
    
  
  
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    Australia

    
    
  
  
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    South Korea

    
    
  
  
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    Australia

    
    
  
  
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    Rest of Asia-Pacific

    
    
  
  
  
  


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  Rest of the World

  
  
  
  
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    Middle East

    
    
  
  
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    Africa

    
    
  
  
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    Latin America