5G Network and Tower Deployment Market Research Report and Outlook by 2028

The market for 5G network and tower deployment is projected to reach a value of approximately US$ 17,785.55 million by the year 2028, with an anticipated compound annual growth rate (CAGR) of 11.6% from 2022 to 2028.

The uptake of 5G technology is steadily increasing in North America, particularly in the United States and Canada. This growth can be attributed to several factors, including the economic recovery following the pandemic, a surge in the use of 5G smartphones, and the expansion of network coverage by communication service providers (CSPs). Furthermore, mobile operators are rolling out 5G services with affordable subscription plans for both commercial and residential users, which is significantly boosting the 5G network and tower deployment market. The ongoing investment in research and development by CSPs is also enhancing the performance of 5G technology. For example, Qualcomm Technologies, Inc. has incorporated mmWave technology into its 5G solutions to improve network capabilities. Fixed wireless access systems utilizing mmWave can be implemented as cost-effective solutions in densely populated residential or commercial areas.

The increasing adoption of automation and the growing demand for efficient, real-time communication systems across various sectors?including retail, manufacturing, healthcare, education, and utilities?are further driving the uptake of 5G services in the region. A notable instance occurred in September 2020 when Virginia Roadways implemented C-V2X Communication Technology from Qualcomm Technologies, Inc. to improve roadside and vehicle safety statewide. Similarly, in April 2020, AT&T accelerated its deployment of 5G cell towers to enhance connectivity for medical facilities. These developments are contributing to the expansion of the 5G network and tower deployment market in North America.

Impact of the COVID-19 Pandemic on the Growth of the 5G Network and Tower Deployment Market in North America

The emergence of the COVID-19 pandemic had a detrimental effect on the rollout of 5G services and tower installations in the first quarter of 2020. Government agencies in the region reduced their capital expenditures on 5G initiatives, prioritizing essential services such as healthcare and public safety. However, the shift from traditional office work to remote work increased the demand for home broadband 5G services, as opposed to commercial services. The pandemic highlighted the need for improved connectivity and a robust digital economy. Changes in entertainment consumption, work habits, and shopping behaviors significantly influenced the demand for 5G connectivity in North America. Consequently, these factors prompted CSPs to enhance their 5G connectivity offerings to meet the rising internet demand, which, in turn, positively impacted the growth of the 5G network and tower deployment market in the region. The market began to recover in the second quarter of 2020.

The North American 5G network and tower deployment market is divided into segments based on geography, including the US, Canada, and Mexico. In 2022, the US held the largest share of the 5G network and tower deployment market. This dominance is largely due to the presence of numerous established 5G service providers in the US and Canada. Additionally, North America is witnessing an influx of new market entrants offering competitive 5G plans for both individual and business use.

According to GSMA, subscription penetration in North America is projected to rise from 84% in 2021 to 85% by 2025. In 2021, smartphone adoption in the region was at 82%, with expectations to reach 85% by 2025. The increasing number of government initiatives aimed at deploying and promoting 5G networks is further driving the growth of the North American 5G network and tower deployment market.

In 2021, the US accounted for the largest share of the North American 5G network and tower deployment market. This is primarily due to the presence of several major 5G network providers, including Verizon, AT&T, T-Mobile, Comcast, and Dish. Verizon has been providing 5G broadband internet in 900 cities across the US since October 2018.

AT&T launched its 5G services in December 2018, offering two main services: 5G+ in over 40 cities and low-band 5G in more than 14,000 cities and towns nationwide. The extensive range of 5G services provided by these network operators is significantly contributing to the growth of the North American 5G network and tower deployment market. For instance, in April 2022, Pete's implemented self-checkout systems in 50 retail locations across the US. Similarly, in June 2022, Dollar General began testing self-checkout systems in various stores to enhance the shopping experience for customers. These initiatives are further driving the business of players in the North American 5G network and tower deployment market.

Key players in the 5G network and tower deployment market include 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 overall size of the 5G network and tower deployment market has been determined through a combination of primary and secondary research. The analysis began with extensive secondary research utilizing both internal and external sources to gather qualitative and quantitative data related to the market. This process also aimed to provide an overview and forecast of market growth across all segments. Additionally, multiple primary interviews with industry participants and experts were conducted to validate the data and gain deeper insights into the market. Participants included industry professionals such as VPs, business development managers, market intelligence managers, national sales managers, and external consultants specializing in the 5G network and tower deployment sector.