The report by FMI anticipates a compound annual growth rate (CAGR) of 26 percent from 2022 to 2032, reaching a value of $ 16.5 billion from its current value of $ 1.6 billion.
The report said the market for 5G testing tech was being fueled by the rise in the use of smartphone and other connected devices, as well as by the expansion of 5G technology and infrastructure.
The report highlighted the increasing use of connected devices in developing economies such as India and China as a factor in the growth of testing technologies.
It noted however that the high cost involved in switching to a 5G network could affect the adoption of 5G testing equipment and thereby impact the growth of market.
Some of the leading 5G testing equipment providers mentioned in the report include Macom, Viavi Solutions, Anritsu, Rohde & Schwarz, Keysight Technologies and LitePoint.