Global 5G Services Market Size Set to Surge, Projected to Reach USD 670.74 Billion by 2030

Industry Leaders Ericsson, Nokia, and Huawei Drive Competitive Landscape

Date: March 17, 2025

The global 5G services market is poised for unprecedented growth, with projections indicating a rise from USD 113.44 billion in 2023 to nearly USD 670.74 billion by 2030, reflecting a robust compound annual growth rate (CAGR) of 28.90% during the forecast period

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Market Definition and Estimation

5G services represent the fifth generation of wireless mobile technology, facilitating a fully mobile and connected environment. They offer enhanced data rates and ultra-low latency, significantly improving user experiences across various applications, including Ultra-High Definition (UHD) video streaming, virtual reality (VR), and augmented reality (AR) gaming. In 2023, the market valuation stood at USD 113.44 billion, with expectations to escalate to approximately USD 670.74 billion by 2030, driven by the escalating demand for high-speed data connectivity and the proliferation of Internet of Things (IoT) applications

Market Growth Drivers and Opportunities

Several key factors are propelling the expansion of the 5G services market:

• Enhanced Network Capabilities: 5G networks deliver up to 1 Gbps speeds with latency as low as 10 milliseconds, serving as the backbone for cloud-based and AI-driven applications. This advancement supports data-intensive applications across both consumer and business-to-business (B2B) settings
• Diverse Industry Requirements: Industries such as IT and telecom, retail, healthcare, automotive, media and entertainment, banking, financial services, and insurance (BFSI), and agriculture require varied service specifications, including high bandwidth, low power consumption, ultra-low latency, and high-speed connectivity. The necessity to meet these diverse demands is accelerating the adoption of 5G technology. ​
• Rising Mobile Broadband Demand: The surge in mobile data traffic and the increasing reliance on machine-to-machine connectivity are significant contributors to market growth. 5G services facilitate a seamless mobile environment by enhancing data transmission capabilities through high-frequency and advanced antenna technologies. ​
• Integration with IoT: The amalgamation of 5G services with IoT applications, such as smart home energy management systems, is fostering high-speed data connectivity, thereby driving market expansion. ​

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Segmentation Analysis

The 5G services market is segmented based on communication type and end-users:

• By Communication Type:
• Enhanced Mobile Broadband (eMBB): In 2023, eMBB accounted for 41.22% of the market share. The substantial share is attributed to the initial focus of 5G network operators on delivering enhanced internet capabilities for applications like uninterrupted video calls, rapid cloud gaming, AR and VR experiences, and UHD video streaming. ​
• Ultra-Reliable and Low Latency Communications (uRLLC): This segment addresses applications requiring minimal latency and high reliability, such as autonomous vehicles and industrial automation.​
• Massive Machine-Type Communications (mMTC): mMTC caters to the connectivity needs of a vast number of devices, pivotal for IoT applications.​
• Fixed Wireless Access (FWA): FWA provides high-speed internet services in areas lacking traditional broadband infrastructure.​
• By End-Users:
• Consumers: This segment encompasses individual users leveraging 5G services for enhanced mobile experiences, including faster internet browsing, streaming, and gaming.​
• Enterprises: Enterprises are anticipated to dominate the market, as 5G serves as the foundation for numerous new applications across manufacturing, transportation, and healthcare sectors. Commercial applications such as robotic surgery, autonomous vehicles, and Industry 4.0 smart factories are transitioning into implementation stages. ​

country-Level Analysis: USA and Germany

• USA: The United States is at the forefront of 5G deployment, with major telecommunications companies like Verizon, AT&T, and Sprint leading the charge. The country's focus on enhancing network infrastructure and the growing demand for high-speed connectivity in sectors such as healthcare, automotive, and entertainment are driving the 5G services market. ​
• Germany: Germany is a significant player in Europe's 5G landscape, with companies like Deutsche Telekom and Infineon Technologies spearheading 5G initiatives. The German government's commitment to advancing digital infrastructure and the automotive industry's push towards connected and autonomous vehicles are pivotal in accelerating 5G adoption. ​

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Competitive Analysis

The 5G services market is characterized by intense competition among key players striving to enhance their market positions through innovation and strategic collaborations. Notable companies include:​

• Ericsson (Sweden): Ericsson continues to be a leading systems vendor, with over 200 5G commercial launches and experiments globally
• Nokia (Finland): Nokia remains a dominant player, matching Ericsson with over 200 5G commercial launches and experiments worldwide. ​
• Huawei (China): Huawei holds the top position in total 5G small cell shipments as of the second quarter of 2022, largely due to its dominance in China, the world's largest single market for 5G services. ​Other significant contributors to the 5G ecosystem include:

• Intel (USA): A key player in providing semiconductor solutions essential for 5G infrastructure.​
• Qualcomm Technologies (USA): Renowned for its advancements in 5G modem and chipset technologies.

For deeper market insights, peruse the summary of the research report:

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