Next Generation Wireless Communication Market Share and Forecast Report, 2030

NEW YORK - May 15, 2025 - PRLog -- According to the latest market research study published by P&S Intelligence, the global next-generation wireless communication market is on a robust growth trajectory, projected to expand from an estimated USD 35.8 billion in 2024 to USD 95.0 billion by 2030, reflecting a compound annual growth rate (CAGR) of 17.6%.

This surge is primarily driven by the escalating demand for high-speed, low-latency connectivity across various sectors, including defense, healthcare, and public safety. The proliferation of 5G technology has been a significant catalyst, enabling advancements in augmented reality (AR), virtual reality (VR), and autonomous vehicles. Additionally, the increasing adoption of edge and cloud computing technologies necessitates enhanced wireless communication infrastructure to support real-time data processing and analysis.

Key Insights

Segmentation Analysis:

• Component Insights: Hardware is the dominant segment, accounting for 45% of the market revenue in 2024. This includes essential components such as routers, modems, network switches, and transmission equipment. The software segment is anticipated to witness the highest CAGR of 17.9% from 2024 to 2030, driven by the need for scalable and responsive network solutions.
• Mode Insights: Cellular communication leads with a 35% revenue share in 2024, owing to the widespread adoption of mobile data services. Wi-Fi is projected to grow at the fastest rate of 18.2% during the forecast period, fueled by the rise of smart homes and IoT devices.
• Application Insights: The telecommunications sector is the largest contributor, comprising 30% of the market revenue in 2024. The increasing demand for machine-to-machine communication and remote monitoring is driving this growth.

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Regional and Geographical Trends:

North America holds the largest market share at 45% in 2024, supported by advanced telecom infrastructure and high disposable income. The Asia-Pacific region is the fastest-growing market, with a projected CAGR of 17.9% from 2024 to 2030, driven by smart city initiatives and government support in countries like India, China, Japan, and South Korea.

Technological Advancements:

The deployment of 5G networks is revolutionizing wireless communication, offering unprecedented speed and connectivity. This advancement is essential for supporting applications such as autonomous vehicles and industrial IoT. Additionally, the integration of edge and cloud computing technologies is enhancing the efficiency and responsiveness of wireless networks.

Competitive Dynamics and Emerging Opportunities:

The market is fragmented, with key players including Huawei Technologies, Cisco Systems, IBM Corporation, Intel Corporation, NETGEAR, Ericsson, ZTE Corporation, Qualcomm Technologies, T-Mobile USA, Samsung Electronics, Nokia Corporation, and LG Electronics.