5G Network and Tower Deployment Market Size is Expected to Boost the Demand and Growth by 2028 - Premium Market Insights

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.

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.

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Key Players: AMERICAN TOWER CORPORATION, CROWN CASTLE INTERNATIONAL CORP, CTI TOWERS INC., DISH Network L.L.C., SBA Communications Corporation, CommScope Inc., Mavenir, Verizon Communications Inc, AT&T Inc., and Qualcomm Technologies Inc.

The global 5G network and tower deployment market is segmented into five major regions-North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and South America (SAM). North America has been the pioneer in the rapid adoption of new and advanced technologies over the years. The presence of multiple industries, constant investment by market players in technological advancements, and the rise in demand for fast data transmission from commercial and residential broadband subscribers are propelling the requirement for 5G networks across the region, thereby boosting the 5G network and tower deployment market growth.

According to the GSMA report on Mobile Economy Middle East & North Africa 2022, The adoption rate of 5G in the Middle East & Africa is expected to grow to 17% by 2025. 5G connections in the MEA are expected to reach 41 million by 2025 (49% of total connections). Countries such as Bahrain, Iran, Israel, Kuwait, Oman, Qatar, Saudi Arabia, and the UAE launched commercial 5G services at the end of March 2022. Libya, Tunisia, and Turkey operators have publicly announced plans to launch commercial 5G services in the coming years. Additionally, 5G coverage is ramping up. Bahrain and Kuwait became two of the first countries to record nationwide 5G coverage, while the UAE reached 90% 5G population coverage at the end of 2021. In Saudi Arabia, 60 of the 136 governates were covered by 5G services as of mid-2021.

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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.

Impact of COVID-19 Pandemic on North America 5G network and tower deployment market Growth
The sudden outbreak of COVID-19 across North America negatively impacted the rollout of 5G network services and tower deployments in Q1 of 2020. The regional government bodies also decreased their CAPEX on 5G rollout services, prioritizing other important spending such as healthcare and other public safety amenities. However, major industries' shift from office working culture to remote working increased the demand for home broadband 5G network services over commercial network services. The pandemic influenced the rising demand for enhanced connectivity and a digital economy.

Entertainment preferences, working patterns, and consumer purchasing habits are major changes that influenced the demand for 5G connectivity across North America. Thus, the above factors influenced the communication service providers (CSPs) to roll out better 5G connectivity plans to cater to the increased internet demand across North America. This, in turn, propelled the demand for enhanced network connectivity, thereby marginally impacting the growth of the 5G network and tower deployment market across North America. However, the market started reviving from Q2 2020.

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.

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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.

TABLE OF CONTENTS
1. Introduction
1.1 Study Scope
1.2 Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Landscape
4.1 Market Overview
4.2 PEST Analysis
4.2.1 North America
4.2.2 Europe
4.2.3 APAC
4.2.4 MEA
4.2.5 SAM
4.3 Ecosystem Analysis
4.4 Expert Opinions
5. Key Market Dynamics
Continued…

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