The global 5G services market size was valued at USD 47.9 billion in 2021, and is predicted to be worth around USD 1.67 trillion by 2030, registering a CAGR of 52.0% during the forecast period 2022 to 2030.
Growth Factors:
The rapidly rising demand for ultra-reliable and low-latency data networks capable of providing enhanced mobile connectivity is estimated to boost the market growth over the forecast period. The potential adoption of 5G services for remote patient monitoring and remote surgery applications is also anticipated to propel market growth from 2022 to 2030. The 5G wireless technology is expected to completely transform the transportation and logistics industry by providing seamless Vehicle-to-Vehicle (V2V) and Vehicle-to-Infrastructure (V2I) connectivity.
5G wireless mobile services enable a fully mobile and connected environment by delivering a wide range of use cases and business models to consumers. Moreover, faster data speeds and extremely low latency offered by the 5G technology would enhance the user experience while using 5G services for several use cases, such as Virtual Reality (VR) and Augmented Reality (AR) gaming, seamless video calling, and Ultra-High Definition (UHD) videos, among others. The growing demand for high-speed data connectivity for unified Internet of Things (IoT) applications, such as smart home energy management, is estimated to propel the adoption of these services over the forecast period.
The rising focus on building partnerships by 5G system integration providers with telecom operators is estimated to augment the adoption of these services. Many industry verticals are focusing on technological transformations to improve their overall productivity and operational efficiency as part of the efforts to sustain in a highly competitive environment. The 5G wireless technology holds the potential to help in realizing remarkable transformations across all these verticals through reductions in overall costs and enhancement in productivity.
Report Coverage
| Report Scope | Details |
| Market Size | USD 1.67 trillion by 2030 |
| Growth Rate | CAGR of 52.0% From 2022 to 2030 |
| Base Year | 2021 |
| Forecast Period | 2022 to 2030 |
| Report coverage | Growth Factors, Revenue Status, Competitive Landscape, and Future Trends |
| Segments Covered | Communication type, Vertical, Region |
| Regional Scope | North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA) |
| Companies Mentioned | AT&T, Inc.; BT Group plc; China Mobile Ltd.; China Telecom Corporation Ltd.; Bharti Airtel Ltd.; NTT Docomo, KT Corp.; Saudi Telecom Company; Vodafone Group; Deutsche Telekom AG; SK Telecom Co., Ltd.; Verizon Communications, Inc.; T-Mobile USA Inc.; Rakuten Mobile Inc.. |
By Communication Type Analysis
The enhanced Mobile Broadband (eMBB) segment dominated the market with a share of more than 42% in 2021 and is expected to grow considerably over the forecast period. The high share is attributed to the preliminary focus by 5G network operators on delivering enhanced broadband capabilities for applications, such as high-speed cloud-based gaming, AR/VR, UHD video, and uninterrupted video calls.
Thus, eMBB is expected to cater to several use cases, such as in-vehicle infotainment, 4K video access, and virtual meeting, thereby driving the segment growth. The massive Machine-Type Communications (mMTC) segment is expected to witness the fastest CAGR from 2022 to 2030. Massive machine-type communications envisage catering to the growing need for a developed digital ecosystem. mMTC focuses on providing services for high connection density applications, such as smart buildings and smart cities.
By Vertical Analysis
The IT & telecom segment led the market in 2021 and held the largest revenue share of over 20%. The segment is expected to continue its dominance over the forecast period due to the significant investments by key players in the latest technologies for communication. The growing demand for higher data speeds for residential and commercial applications is estimated to drive the growth of the IT & telecom segment over the forecast period.
The manufacturing sector has been digitalizing rapidly. As such, production lines are being automated continuously to enhance overall productivity. This has triggered the need for seamless wireless communication between the robots, sensors, actuators, and other devices installed in manufacturing facilities. Thus, the manufacturing segment is expected to exhibit the fastest CAGR over the forecast period.
By Regional Analysis
Asia Pacific led the market in 2021 with a share of over 38.5% and is estimated to expand further at the fastest CAGR during the forecast period. Key market players in APAC, such as China Telecom, China Mobile, SK Telecom, and KT Corp., are investing aggressively in rolling out the 5G network infrastructure in China, Japan, and South Korea.
5G services are expected to gain traction as key smartphone manufacturers in the region, such as Huawei Technologies Co. Ltd., Samsung Electronics Co., Ltd., and BBK Electronics Corp., continue to launch 5G-enabled smartphones in response to the rising demand.North America was the second-largest regional market in 2021.
Competitive Rivalry
Foremost players in the market are attentive on adopting corporation strategies to enhance their market share. Some of the prominent tactics undertaken by leading market participants in order to sustain the fierce market completion include collaborations, acquisitions, substantial spending in R&D and the improvement of new-fangled products or reforms among others.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
Some of the prominent players in the 5G Services Market include:
Segments Covered in the Report
This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects. Further, this research study investigates market size, production, consumption and its development trends at global, regional, and country level for the period of 2017 to 2030 and covers subsequent region in its scope:
Market Segmentation
By Geography
North America
Europe
Asia Pacific
Latin America
Middle East & Africa (MEA)
Research Methodology
In the study, a unique research methodology is utilized to conduct extensive research on the growth of the 5G Services market, and reach conclusions on the future growth parameters of the market. This research methodology is a combination of primary and secondary research, which helps analysts ensure the accuracy and reliability of the conclusions.
Secondary resources referred to by analysts during the production of the 5G Services market study are as follows - statistics from government organizations, trade journals, white papers, and internal and external proprietary databases. Analysts have also interviewed senior managers, product portfolio managers, CEOs, VPs, marketing/product managers, and market intelligence managers, all of whom have contributed to the development of this report as a primary resource.
Comprehensive information acquired from primary and secondary resources acts as a validation from companies in the market, and makes the projections on the growth prospects of the 5G Services markets more accurate and reliable.
Secondary Research
It involves company databases such as Hoover's: This assists us recognize financial information, structure of the market participants and industry competitive landscape.
The secondary research sources referred in the process are as follows:
Primary Research
Primary research includes face-to face interviews, online surveys, and telephonic interviews.
Industry participants involved in this research study include:
Key Points Covered in 5G Services Market Study:
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. Market Dynamics Analysis and Trends
5.1. Market Dynamics
5.1.1. Market Drivers
5.1.2. Market Restraints
5.1.3. Market Opportunities
5.2. Porter’s Five Forces Analysis
5.2.1. Bargaining power of suppliers
5.2.2. Bargaining power of buyers
5.2.3. Threat of substitute
5.2.4. Threat of new entrants
5.2.5. Degree of competition
Chapter 6. Competitive Landscape
6.1.1. Company Market Share/Positioning Analysis
6.1.2. Key Strategies Adopted by Players
6.1.3. Vendor Landscape
6.1.3.1. List of Suppliers
6.1.3.2. List of Buyers
Chapter 7. Global 5G Services Market, By Communication Type
7.1. 5G Services Market, by Communication Type, 2021-2030
7.1.1. FWA
7.1.1.1. Market Revenue and Forecast (2019-2030)
7.1.2. eMBB
7.1.2.1. Market Revenue and Forecast (2019-2030)
7.1.3. uRLLC
7.1.3.1. Market Revenue and Forecast (2019-2030)
7.1.4. mMTC
7.1.4.1. Market Revenue and Forecast (2019-2030)
Chapter 8. Global 5G Services Market, By Vertical
8.1. 5G Services Market, by Vertical, 2021-2030
8.1.1. Manufacturing
8.1.1.1. Market Revenue and Forecast (2019-2030)
8.1.2. Public Safety
8.1.2.1. Market Revenue and Forecast (2019-2030)
8.1.3. Healthcare & Social Work
8.1.3.1. Market Revenue and Forecast (2019-2030)
8.1.4. Energy & Utility
8.1.4.1. Market Revenue and Forecast (2019-2030)
8.1.5. IT & Telecom
8.1.5.1. Market Revenue and Forecast (2019-2030)
8.1.6. Transportation & Logistics
8.1.6.1. Market Revenue and Forecast (2019-2030)
8.1.7. Aerosapce & Defense
8.1.7.1. Market Revenue and Forecast (2019-2030)
8.1.8. BFSI
8.1.8.1. Market Revenue and Forecast (2019-2030)
8.1.9. Government
8.1.9.1. Market Revenue and Forecast (2019-2030)
8.1.10. Retail
8.1.10.1. Market Revenue and Forecast (2019-2030)
8.1.11. Mining
8.1.11.1. Market Revenue and Forecast (2019-2030)
8.1.12. Oil & Gas
8.1.12.1. Market Revenue and Forecast (2019-2030)
8.1.13. Agriculture
8.1.13.1. Market Revenue and Forecast (2019-2030)
8.1.14. Construction
8.1.14.1. Market Revenue and Forecast (2019-2030)
8.1.15. Real Estate
8.1.15.1. Market Revenue and Forecast (2019-2030)
Chapter 9. Global 5G Services Market, Regional Estimates and Trend Forecast
9.1. North America
9.1.1. Market Revenue and Forecast, by Communication Type (2019-2030)
9.1.2. Market Revenue and Forecast, by Vertical (2019-2030)
9.1.3. U.S.
9.1.3.1. Market Revenue and Forecast, by Communication Type (2019-2030)
9.1.3.2. Market Revenue and Forecast, by Vertical (2019-2030)
9.1.4. Rest of North America
9.1.4.1. Market Revenue and Forecast, by Communication Type (2019-2030)
9.1.4.2. Market Revenue and Forecast, by Vertical (2019-2030)
9.2. Europe
9.2.1. Market Revenue and Forecast, by Communication Type (2019-2030)
9.2.2. Market Revenue and Forecast, by Vertical (2019-2030)
9.2.3. UK
9.2.3.1. Market Revenue and Forecast, by Communication Type (2019-2030)
9.2.3.2. Market Revenue and Forecast, by Vertical (2019-2030)
9.2.4. Germany
9.2.4.1. Market Revenue and Forecast, by Communication Type (2019-2030)
9.2.4.2. Market Revenue and Forecast, by Vertical (2019-2030)
9.2.5. France
9.2.5.1. Market Revenue and Forecast, by Communication Type (2019-2030)
9.2.5.2. Market Revenue and Forecast, by Vertical (2019-2030)
9.2.6. Rest of Europe
9.2.6.1. Market Revenue and Forecast, by Communication Type (2019-2030)
9.2.6.2. Market Revenue and Forecast, by Vertical (2019-2030)
9.3. APAC
9.3.1. Market Revenue and Forecast, by Communication Type (2019-2030)
9.3.2. Market Revenue and Forecast, by Vertical (2019-2030)
9.3.3. India
9.3.3.1. Market Revenue and Forecast, by Communication Type (2019-2030)
9.3.3.2. Market Revenue and Forecast, by Vertical (2019-2030)
9.3.4. China
9.3.4.1. Market Revenue and Forecast, by Communication Type (2019-2030)
9.3.4.2. Market Revenue and Forecast, by Vertical (2019-2030)
9.3.5. Japan
9.3.5.1. Market Revenue and Forecast, by Communication Type (2019-2030)
9.3.5.2. Market Revenue and Forecast, by Vertical (2019-2030)
9.3.6. Rest of APAC
9.3.6.1. Market Revenue and Forecast, by Communication Type (2019-2030)
9.3.6.2. Market Revenue and Forecast, by Vertical (2019-2030)
9.4. MEA
9.4.1. Market Revenue and Forecast, by Communication Type (2019-2030)
9.4.2. Market Revenue and Forecast, by Vertical (2019-2030)
9.4.3. GCC
9.4.3.1. Market Revenue and Forecast, by Communication Type (2019-2030)
9.4.3.2. Market Revenue and Forecast, by Vertical (2019-2030)
9.4.4. North Africa
9.4.4.1. Market Revenue and Forecast, by Communication Type (2019-2030)
9.4.4.2. Market Revenue and Forecast, by Vertical (2019-2030)
9.4.5. South Africa
9.4.5.1. Market Revenue and Forecast, by Communication Type (2019-2030)
9.4.5.2. Market Revenue and Forecast, by Vertical (2019-2030)
9.4.6. Rest of MEA
9.4.6.1. Market Revenue and Forecast, by Communication Type (2019-2030)
9.4.6.2. Market Revenue and Forecast, by Vertical (2019-2030)
9.5. Latin America
9.5.1. Market Revenue and Forecast, by Communication Type (2019-2030)
9.5.2. Market Revenue and Forecast, by Vertical (2019-2030)
9.5.3. Brazil
9.5.3.1. Market Revenue and Forecast, by Communication Type (2019-2030)
9.5.3.2. Market Revenue and Forecast, by Vertical (2019-2030)
9.5.4. Rest of LATAM
9.5.4.1. Market Revenue and Forecast, by Communication Type (2019-2030)
9.5.4.2. Market Revenue and Forecast, by Vertical (2019-2030)
Chapter 10. Company Profiles
10.1. AT&T, Inc.
10.1.1. Company Overview
10.1.2. Communication Type Offerings
10.1.3. Financial Performance
10.1.4. Recent Initiatives
10.2. BT Group plc
10.2.1. Company Overview
10.2.2. Communication Type Offerings
10.2.3. Financial Performance
10.2.4. Recent Initiatives
10.3. China Mobile Ltd.
10.3.1. Company Overview
10.3.2. Communication Type Offerings
10.3.3. Financial Performance
10.3.4. Recent Initiatives
10.4. China Telecom Corporation Ltd.
10.4.1. Company Overview
10.4.2. Communication Type Offerings
10.4.3. Financial Performance
10.4.4. Recent Initiatives
10.5. Bharti Airtel Ltd.
10.5.1. Company Overview
10.5.2. Communication Type Offerings
10.5.3. Financial Performance
10.5.4. Recent Initiatives
10.6. NTT Docomo
10.6.1. Company Overview
10.6.2. Communication Type Offerings
10.6.3. Financial Performance
10.6.4. Recent Initiatives
10.7. KT Corp.
10.7.1. Company Overview
10.7.2. Communication Type Offerings
10.7.3. Financial Performance
10.7.4. Recent Initiatives
10.8. Saudi Telecom Company
10.8.1. Company Overview
10.8.2. Communication Type Offerings
10.8.3. Financial Performance
10.8.4. Recent Initiatives
10.9. Vodafone Group
10.9.1. Company Overview
10.9.2. Communication Type Offerings
10.9.3. Financial Performance
10.9.4. Recent Initiatives
10.10. Deutsche Telekom AG
10.10.1. Company Overview
10.10.2. Communication Type Offerings
10.10.3. Financial Performance
10.10.4. Recent Initiatives
Chapter 11. Research Methodology
11.1. Primary Research
11.2. Secondary Research
11.3. Assumptions
Chapter 12. Appendix
12.1. About Us
12.2. Glossary of Terms
Cross-segment Market Size and Analysis for
Mentioned Segments
Additional Company Profiles (Upto 5 With No Cost)
Additional Countries (Apart From Mentioned Countries)
Country/Region-specific Report
Go To Market Strategy
Region Specific Market DynamicsRegion Level Market Share Import Export AnalysisProduction AnalysisOthers