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The global 5G RedCap Technology market was valued at US$ 4.5 billion in 2023 and is projected to reach US$ 7.35 billion by 2030, at a CAGR of 7.26% during the forecast period. The influence of COVID-19 and the Russia-Ukraine War were considered while estimating market sizes.
The global key manufacturers of 5G RedCap Technology include China Unicom, Quectel Wireless Solutions, Qualcomm, MeiG Smart Technology, Huawei and China Telecom, etc. in 2023, the global top five players have a share approximately % in terms of revenue.
This report aims to provide a comprehensive presentation of the global market for 5G RedCap Technology, with both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding 5G RedCap Technology. This report contains market size and forecasts of 5G RedCap Technology in global, including the following market information:
5G Reduced Capability (RedCap) technology is rapidly emerging as a pivotal element in the broader 5G ecosystem, particularly for end-user applications that demand a balance between performance and cost-effectiveness. RedCap, a new feature introduced in 3GPP Release 17, is designed to serve devices with moderate data rates and lower power consumption needs, bridging the gap between high-performance 5G and IoT devices.
Key Statistics:
Market Penetration: By 2025, it is projected that over 20% of all 5G connections will be utilizing RedCap technology. This marks a significant shift as industries seek to integrate 5G capabilities into more diverse and less demanding applications.
Adoption Across Industries: The manufacturing sector is leading in the adoption of 5G RedCap, with 35% of all deployments aimed at enhancing automation and IoT applications. Following closely are the healthcare and automotive sectors, which account for 25% and 20% of RedCap deployments, respectively.
Device Proliferation: It's estimated that by 2026, there will be over 200 million RedCap-enabled devices in operation globally. This surge is driven by the growing demand for smart sensors, wearable devices, and connected infrastructure that do not require the full bandwidth of traditional 5G.
Cost Efficiency: Devices using 5G RedCap are expected to be 30-40% cheaper than those using full-scale 5G technology. This cost reduction is crucial for industries that need to deploy large volumes of connected devices without compromising on efficiency.
Energy Consumption: RedCap devices are optimized for low energy consumption, with some models achieving up to 50% less power usage compared to standard 5G devices. This makes them ideal for applications where battery life is a critical factor, such as in remote monitoring systems and wearable health devices.
Latency and Throughput: While RedCap offers reduced capability, it still provides impressive performance with latency as low as 10 milliseconds and data rates reaching up to 100 Mbps. This ensures that RedCap devices can support a wide range of real-time applications without significant delays.
We surveyed the 5G RedCap Technology companies, and industry experts on this industry, involving the revenue, demand, product type, recent developments and plans, industry trends, drivers, challenges, obstacles, and potential risks.
Total Market by Segment:
Global 5G RedCap Technology Market, by Type, 2019-2024, 2025-2030 ($ millions)
Global 5G RedCap Technology Market Segment Percentages, by Type, 2023 (%)
Outline of Major Chapters:
Chapter 1: Introduces the definition of 5G RedCap Technology, market overview.
Chapter 2: Global 5G RedCap Technology market size in revenue.
Chapter 3: Detailed analysis of 5G RedCap Technology company competitive landscape, revenue and market share, latest development plan, merger, and acquisition information, etc.
Chapter 4: Provides the analysis of various market segments by type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.
Chapter 5: Provides the analysis of various market segments by application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.
Chapter 6: Sales of 5G RedCap Technology in regional level and country level. It provides a quantitative analysis of the market size and development potential of each region and its main countries and introduces the market development, future development prospects, market space of each country in the world.
Chapter 7: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product sales, revenue, price, gross margin, product introduction, recent development, etc.
Chapter 8: The main points and conclusions of the report.