Kulicke and American Tower Corporation, Crown Castle, SBA Communications, Qualcomm Inc., and Verizon Communications Inc –Prominent Market Participants in 5G Network and Tower Deployment Market
5G network is the fifth-generation technology for broadband connections in the telecommunication industry. According to Groupe Speciale Mobile Association (GSMA), there will be more than 1.1 billion 5G network subscribers across the globe by 2025. There is a rising demand for advanced network services to enable efficient and real-time communication across industries and personal applications. The increase in investments by communication service providers (CSPs) and regional government bodies is further enhancing the development and deployment of 5G network services across developed and developing countries. Major 5G network solution providers operating across the globe include Verizon, AT&T, Huawei, Cisco Systems, Ericsson, and Nokia.
In APAC, South Korea held the second largest share in 2022. South Korea was the first country to launch commercial 5G networks in April 2019 and has 5G coverage across 85 cities. South Korea is the one of the 5G pioneers and fastest-adopting country with total 24.53 million 5G subscribers in August 2022, accounting for 32.7% of total mobile subscriptions in South Korea. In South Korea, operators exceeded 90% 5G population coverage in early 2020. Further, Korean mobile operators have deployed a total of 202,903 5G base stations as of the end of February 2022. Currently 5G networks are carrying roughly 70% of all mobile data traffic in the country. According to GSMA, 5G connections accounted for 33% of total mobile connections in South Korea in 2021, while aiming to represent 73% of total connections in 2025. All such factors augment the growth of the 5G network and tower deployment market in South Korea. In July 2021, Samsung Electronics and KT Corporation (KT) announced launch of 5G SA in South Korea, All these factors contributes to the growth of the market in South Korea.