5G network and tower deployment market to reach $17.78 bn by 2028

The 5G Network and Tower Deployment Market size is expected to reach US$ 17,785.55 million by 2028; it is estimated to register a CAGR of 11.6% from 2022 to 2028, according to Research And Markets.

The adoption of 5G is constantly growing across markets in North America, such as the US and Canada, owing to factors such as post-pandemic economic recovery, rise in adoption of 5G smartphones, and expansion of network coverage by CSPs. Additionally, the 5G network rollout by mobile operators in reasonable subscription plans for commercial and residential applications across countries in North America is further contributing to the 5G network and tower deployment market growth.

Additionally, the increase in research & development expenditure by CSPs is constantly enhancing the effectiveness of the 5G network technology. For instance, Qualcomm Technologies, Inc. integrated mmWave into its 5G offerings to optimize 5G network capabilities. The fixed wireless access systems integrated with mmWave technology can be deployed in cost-effective solutions when installed across a highly populated residential or commercial area.

The surging adoption of automation and the increasing need for efficient and real-time communication systems across various industries, such as retail, manufacturing, healthcare, education, and utilities, are further contributing to the rise in the adoption of 5G network services across the region.

For instance, in September 2020, Virginia Roadways deployed C-V2X Communication Technology by Qualcomm Technologies, Inc. to enhance roadside and vehicle safety across the state. Similarly, in April 2020, AT&T sped up its 5G cell tower deployment to support medical facilities with enhanced connectivity. These factors are further contributing to the growth of the 5G network and tower deployment market in the region.

The North America 5G network and tower deployment market is segmented into the US, Canada, and Mexico. The US held the largest 5G network and tower deployment market share in 2022. This growth is attributed to the presence of a large number of established 5G network service providers across countries such as the US and Canada. North America is also experiencing a rise in new market entrants offering attractive 5G plans for individual and commercial uses.

According to GSMA, in North America, the subscription penetration is expected to grow from 84% in 2021 to 85% by 2025. In 2021, the adoption of smartphones in the region accounted for 82%, which is further expected to reach 85% by 2025. The rising number of government initiatives to deploy and promote the adoption of 5G networks is propelling the growth of the North America 5G network and tower deployment market.

The US accounted for the largest share of the North America 5G network and tower deployment market in 2021. One of the major reasons for the high contribution of the country is the presence of numerous 5G network providers, including Verizon, AT&T, T-Mobile, Comcast, and Dish, across the country. Verizon has been offering 5G broadband internet across 900 cities in the US since October 2018.

Similarly, AT&T started its 5G services in December 2018. It offers two major 5G services – 5G+ in over 40 cities and low band 5G network in over 14,000 cities and towns across the country. This wide offering of 5G services by the above-mentioned network service providers is contributing to the growth of the North America 5G network and tower deployment market. For instance, in April 2022, Pete’s adopted self-checkout systems across its 50 retail stores in the US. Similarly, in June 2022, Dollar General started testing self-checkout systems in its numerous retail outlets to offer an enhanced customer shopping experience. These factors are further propelling the businesses of the North America 5G network and tower deployment market player.

CT Bureau