5G Services Market Size and Share Outlook - Forecast Trends and Growth Analysis Report (2025-2034)
Description
The global 5G services market value reached around USD 165.43 Billion in 2024. The expansion of the market is driven by the increasing demand for faster and more reliable internet connectivity, especially with the growth of IoT devices, smart cities, and high-bandwidth applications like augmented and virtual reality. As businesses and consumers adopt more data-intensive services, the need for 5G technology to provide lower latency, higher speeds, and increased network capacity becomes critical. For example, companies like Verizon and AT&T are leading the deployment of 5G networks across major cities, enhancing user experience and enabling innovative services. As a result, the industry is expected to grow at a CAGR of 49.60% during the forecast period of 2025-2034 to attain a value of USD 9288.17 Billion by 2034. Moreover, the digital transformation in industries such as healthcare, automotive, and manufacturing is fuelling the adoption of 5G services for real-time data processing and automation.
5G Services Market Growth
The growing urban population along with the surging focus of industries like Telco to modernise their networks to meet consumers’ demand are anticipated to fuel the 5G services demand in the upcoming years. Additionally, the growing technological transformations by various industry players to advance their overall operational efficiency and productivity due to the highly competitive environment are expected to propel the global 5G services market demand. The new developments and various applications of 5G services like e-health services, energy infrastructure, and smart cities, among others are further attracting more consumers. This is further expected to propel the market demand for 5G services worldwide.
Key Trends and Developments
Expansion of private 5G networks, enhanced mobile broadband and network slicing, and growing usage of IoT are the key trends propelling the market growth.
December 2024
Lao Telecom has expanded its 5G service to Savannakhet province, making it the first telecommunications provider to launch 5G in Laos. The coverage is now available at ten locations within the provincial capital, Savannakhet.
December 2024
IDEMIA Secure Transactions has announced a strategic collaboration with Vantiva aimed at accelerating the deployment of 5G services for customers and businesses globally. This partnership will leverage IDEMIA's advanced eSIM (embedded SIM) technology to enhance Vantiva's 5G Fixed Wireless Access (FWA) solutions.
December 2024
SurgePays, a technology and telecommunications company, has entered a multi-year mobile virtual network operator (MVNO) agreement with AT&T. The agreement allows SurgePays to provide its customers with 4G LTE and 5G wireless services, aiming to serve underserved and rural communities through its network of convenience stores and local outlets.
November 2024
State-owned Bharat Sanchar Nigam Limited (BSNL) has issued a tender to launch 5G services in Delhi, India, inviting bids from network providers and equipment manufacturers to deploy indigenous 5G using a standalone (SA) architecture across 1,876 sites.
Expansion of Private 5G Networks
Private 5G networks are becoming increasingly popular, especially among large enterprises that require secure, high-performance networks for specific applications. Companies in sectors like manufacturing, logistics, and healthcare are adopting private 5G to improve operations, enhance security, and enable real-time data processing at the edge, which can boost the 5G services demand growth. For instance, Boldyn Networks has launched Private 5G as a Service, aiming to facilitate digital transformation for enterprise customers without significant upfront investments. The company is investing 300 million EUR to support the broader adoption of private networks globally, focusing on enhancing safety, cybersecurity, and operational efficiency through reliable connectivity. Moreover, an Ericsson study suggests that implementing private 5G networks can cut operational costs for logistics companies by up to 30%, highlighting the significant financial benefits of adopting such technologies. As more enterprises invest in private 5G solutions, the landscape of telecommunications continues to evolve significantly.
Enhanced Mobile Broadband
Enhanced Mobile Broadband (eMBB) is one of the primary applications in 5G services market, designed to meet the increasing demand for high-speed internet access. This trend is known by the ability to support a larger number of users and devices with significantly improved data rates, reaching up to 10 Gbps in ideal conditions. For example, video streaming services have begun to leverage eMBB capabilities to deliver high-definition content seamlessly. Companies like Netflix and YouTube are optimising their platforms for 5G, allowing users to stream ultra-high-definition (UHD) videos without buffering delays. Moreover, network slicing plays a crucial role in enhancing mobile broadband services. By partitioning the network into multiple virtual slices, telecom operators can allocate specific resources to different applications based on their requirements. For instance, during major events like concerts or sports games, operators can create dedicated slices that prioritise connectivity for attendees using mobile devices. This ensures that streaming services remain uninterrupted even under heavy network load. Examples of eMBB and network slicing in action include trials conducted by Nokia and Google, where they successfully tested network slicing on Google Pixel devices. This trial demonstrated how a smartphone could connect to multiple network slices simultaneously.
Rising Impact of Network Slicing Across Industries
Network slicing allows telecom operators to create customised network environment. This flexibility is particularly beneficial for industries, such as healthcare and manufacturing. For example, hospitals can deploy private network slices that ensure high security and low latency for critical applications like remote surgeries. These slices can be configured to maintain strict data privacy regulations while providing the necessary bandwidth for transmitting large medical images. In manufacturing, companies like Ericsson and TIM have conducted trials at Comau’s factory in Italy, using network slicing to connect physical robots with their digital twins. This setup enables real-time synchronisation, enhancing operational efficiency through predictive maintenance and optimised production processes. Additionally, Turkcell and Ericsson have demonstrated the use of autonomous mobile robots (AMRs) in industrial settings using network slicing to facilitate low-latency communication necessary for real-time operations.
Growing Usage of IoT
A crucial trend of 5G services market is the surging popularity of IoT utilisation in various sectors like oil and gas, manufacturing, transportation, logistics, energy/utilities, mining and metals, and aviation, among others. With shifting consumer preferences towards remote working patterns, and rising demand for high-speed and low-latency data connectivity, the market growth is expected to bolster across the globe during the forecast period. The Internet of Things (IoT) ecosystem is also expanding with the rise of 5G, enabling smart cities, smart homes, and connected vehicles. For instance, Greater Manchester, UK has implemented 5G smart junctions that utilise AI and video analytics to optimise traffic signals. By collecting real-time data on vehicle movement, the system enhances traffic flow and reduces congestion, showcasing how 5G can improve urban mobility. Additionally, Piloto 5G Catalunya is a project in Spain that employs a 5G private city network to enhance public services through real-time data analysis.
5G Services Market Trends
Telecom providers are increasingly adopting cloud-native 5G architectures, which allow for greater flexibility, scalability, and cost-efficiency in network management. Cloud-based 5G solutions enable network slicing, allowing different industries to customise their networks based on specific needs, which can aid the demand of 5G services market. A survey by Infosys revealed that 77% of telecom executives reported that their cloud migration efforts have been very effective or extremely effective, leading to significant cost savings and improved performance. The adoption of cloud-native network functions (CNFs) is crucial in transforming the industry to meet diverse demands from 5G applications.
According to a report from STL Partners, as of March 2024, there were 72 telco deployments planned for 2024, focusing primarily on various flavors of 5G core and virtualised RAN (vRAN). This indicates a robust commitment among telecom operators to transition towards cloud-native architectures. With the increase in 5G adoption, there is a surge in demand for edge computing to process data closer to the source, reducing latency and enhancing performance. This trend supports applications requiring real-time processing, such as AI, IoT, and autonomous systems.
5G Services Market Restraints
The financial burden associated with deploying 5G networks is significant. This includes expenses related to acquiring spectrum licenses, installing new infrastructure such as small cells, and upgrading existing networks. A report indicates that telecom operators face substantial costs in transitioning from 4G to 5G, which may deter smaller operators from investing heavily in 5G infrastructure and can impact 5G services market revenue.
Delays in achieving spectrum harmonisation across different regions pose a challenge for telecom providers. The lack of synchronised spectrum allocation complicates efforts for operators to establish efficient and cohesive 5G ecosystems. This situation not only affects the global roaming capabilities of 5G devices but also increases operational costs for service providers.
Surveys indicate that many consumers do not perceive a significant difference between 4G and 5G services. For instance, a Deloitte survey found that 54% of respondents could not distinguish between the two technologies, which suggests that immediate consumer demand for 5G may be lacking.
5G Services Market Dynamics
The media and entertainment, healthcare, and automotive industries are embracing 5G-enabled applications and increasing the 5G services market value. For example, autonomous vehicles, remote surgery, and AR/VR applications are being driven by the capabilities of 5G to deliver higher bandwidth, ultra-low latency, and seamless connectivity. For instance, in 2021, Ericsson partnered with Volvo to conduct the first cross-border 5G network vehicular handover, demonstrating seamless service continuity for autonomous vehicles across borders. This trial showcased how 5G can facilitate real-time updates of HD maps, allowing connected cars to operate as smart clusters that communicate continuously throughout their journeys.
Companies like Netflix and YouTube are also poised to benefit from 5G's high-speed connectivity, enabling seamless streaming of high-definition content without buffering. This capability enhances user experience significantly, especially for live events and interactive media applications.
5G Services Industry Segmentation
“5G Services Market Report and Forecast 2025-2034” offers a detailed analysis of the market based on the following segments:
Market Breakup by End User
Market Insights by End User Insights
The IT and Telecom sector leads the 5G services market share as telecom operators are the primary service providers for 5G networks. Major players like Verizon, AT&T, and China Mobile are investing heavily in 5G deployment. The demand for faster internet speeds, improved network reliability, and new service offerings like cloud gaming, virtual reality, and augmented reality are driving growth in this sector. The media and entertainment industry is leveraging 5G to deliver higher-quality content, improve streaming services, and enhance virtual and augmented reality experiences. As demand for high-definition video streaming rises, 5G enables faster content delivery and interactive media experiences.
5G also enables connected cars, enhancing features like autonomous driving and real-time traffic management. For example, Audi and BMW are actively involved in 5G trials for autonomous vehicles. The UK Government has launched a EUR 250 million fund to support the development of connected and autonomous vehicle technology, leveraging 5G for vehicle-to-everything (V2X) communication.
As per 5G services market analysis, 5G is also crucial for enabling smart grids, predictive maintenance, and efficient energy management. China Mobile and State Grid Corporation of China have collaborated on 5G-based smart grid pilot projects to enhance energy distribution and monitoring. In Europe, Telecom Italia has partnered with energy companies to use 5G for smart metering and remote infrastructure management, improving operational efficiency.
In aerospace, 5G supports real-time communication and data-sharing between aircraft and ground control. Lufthansa has conducted tests using 5G for enhanced in-flight connectivity and real-time passenger services. The FAA in the U.S. is working to integrate 5G technologies to improve air traffic control systems, with pilots using 5G networks for faster data transmission in airspace management.
5G Services Market Regional Analysis
North America 5G Services Market Growth
North America, particularly the United States, has seen rapid 5G rollouts due to the advanced telecom infrastructure and large investments from companies like Verizon, AT&T, and T-Mobile. T-Mobile has made significant advancements in its 5G network, claiming coverage for 320 million people across 1.8 million square miles with its Extended Range service, which boosts the 5G services industry revenue. Its Ultra Capacity 5G, which uses mid-band and millimeter wave spectrum, covers around 235 million people, with plans to increase that number to 260 million by the end of 2024.
There is a growing demand for high-speed internet for applications like autonomous vehicles, smart cities, and IoT. The U.S. Federal Communications Commission (FCC) has been actively supporting the rollout of 5G through spectrum allocation and funding initiatives.
Asia Pacific 5G Services Market Dynamics
The rising adoption of new technologies coupled with enhanced mobile broadband services and surging usage of IoT are driving the growth of the 5G services market in the Asia Pacific region. The 5G wireless networks tend to influence consumers as well as segments such as automobiles, manufacturing, and IoT. Additionally, operators such as China Telecom are expected to produce a strong ecosystem of cloud, AI, and 5G which is likely to bolster the market growth of 5G in the region.
Governments are supporting the early adoption of 5G, and manufacturers are investing aggressively in 5G network infrastructure in countries like China, Japan, and South Korea. Going further, the growing digitalisation and rising emphasis on building partnerships through 5G system integration are expected to augment the adoption of 5G services.
Europe 5G Services Market Opportunities
European telecom operators such as Vodafone, Orange, and Deutsche Telekom, are rapidly rolling out 5G networks to cater to both consumer and enterprise demands. The European Union has further allocated billions in funding for 5G and digital infrastructure through its Digital Compass and 5G Action Plan, aiming to lead globally in connectivity which can improve 5G services market opportunities.
Under the Barcelona Smart City Initiative, Barcelona has integrated 5G technology into its urban infrastructure to support various applications such as smart lighting, waste management, and air quality monitoring. The city aims to create a more sustainable urban environment by utilising connected sensors and data analytics.
Latin America 5G Services Market Growth
Several Latin American government bodies have made significant strides in auctioning the 5G spectrum, particularly in Brazil and Mexico. As per the 5G services industry analysis, Latin America has a high mobile-first population, driving demand for improved mobile data services and faster internet speeds. Telecom operators like Claro, Movistar, and Oi are deploying 5G to enhance coverage and cater to the growing demand for digital services. As of 2023, Brazil and Mexico have successfully launched 5G services, with plans for wider national coverage in the coming years.
Middle East and Africa 5G Services Market Dynamics
Countries like the UAE, Saudi Arabia, and South Africa have made strategic investments to become early adopters of 5G technology. Government bodies in the region are prioritising digital transformation, urban development, and smart city initiatives which can fuel the growth of the 5G services industry. There is a strong demand for high-speed internet in urban areas, while rural areas are benefiting from telemedicine, e-commerce, and education via 5G.
Companies such as Etisalat and STC in the UAE and Saudi Arabia are at the forefront of 5G deployment in the region.
Innovative Startups in 5G Services Market
Startups in the market are focusing on developing innovative solutions to enhance 5G infrastructure and services. Many are working on edge computing, which brings data processing closer to the source, reducing latency, improving the performance of 5G applications, and further impacting 5G services market dynamics and trends. Startups are also creating specialised IoT devices and network management tools to optimise 5G networks, particularly for industries like smart cities, healthcare, and manufacturing.
Celona
Celona is a US-based startup that focuses on delivering private 5G networks for enterprises. The company provides solutions that enable businesses to leverage 5G's low latency and high-speed capabilities while maintaining control over their network infrastructure. Celona’s platform integrates with existing enterprise IT systems, offering benefits such as enhanced security, network flexibility, and support for IoT applications.
Mavenir
Celona is a US-based startup that focuses on delivering private 5G networks for enterprises. The company provides solutions that enable businesses to leverage 5G's low latency and high-speed capabilities while maintaining control over their network infrastructure. Celona’s platform integrates with existing enterprise IT systems, offering benefits such as enhanced security, network flexibility, and support for IoT applications.
Competitive Landscape
The report presents a detailed analysis of the following key players in the global 5G services market, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions. Companies are focusing on expanding network infrastructure, enhancing connectivity, and introducing innovative services to meet the growing demand for faster and more reliable mobile internet. Telecom operators are investing heavily in 5G network deployment, particularly in urban areas and key industrial hubs.
Nokia Corporation
Nokia Corporation is a Finnish multinational company founded in 1865, originally as a paper mill. It evolved through various industries, including rubber and cables, before establishing itself as a leader in telecommunications.
Huawei Technologies Co Ltd.
Huawei Technologies Co., Ltd., founded in 1987 by Ren Zhengfei in Shenzhen, China, is a leading global provider of information and communications technology (ICT) solutions. Initially focused on manufacturing telephone switches, Huawei has expanded its offerings to include telecommunications equipment, consumer electronics, smart devices, and cloud computing solutions.
AT&T Inc.
AT&T Inc., headquartered in Dallas, Texas, is one of the largest telecommunications companies globally. The company provides a wide range of services including wireless communications, broadband internet, local and long-distance telephone services, and media content production.
Other major players in the market are Deutsche Telekom AG, Telefonaktiebolaget LM Ericsson, and Vodafone Group, among others.
5G Services Market Growth
The growing urban population along with the surging focus of industries like Telco to modernise their networks to meet consumers’ demand are anticipated to fuel the 5G services demand in the upcoming years. Additionally, the growing technological transformations by various industry players to advance their overall operational efficiency and productivity due to the highly competitive environment are expected to propel the global 5G services market demand. The new developments and various applications of 5G services like e-health services, energy infrastructure, and smart cities, among others are further attracting more consumers. This is further expected to propel the market demand for 5G services worldwide.
Key Trends and Developments
Expansion of private 5G networks, enhanced mobile broadband and network slicing, and growing usage of IoT are the key trends propelling the market growth.
December 2024
Lao Telecom has expanded its 5G service to Savannakhet province, making it the first telecommunications provider to launch 5G in Laos. The coverage is now available at ten locations within the provincial capital, Savannakhet.
December 2024
IDEMIA Secure Transactions has announced a strategic collaboration with Vantiva aimed at accelerating the deployment of 5G services for customers and businesses globally. This partnership will leverage IDEMIA's advanced eSIM (embedded SIM) technology to enhance Vantiva's 5G Fixed Wireless Access (FWA) solutions.
December 2024
SurgePays, a technology and telecommunications company, has entered a multi-year mobile virtual network operator (MVNO) agreement with AT&T. The agreement allows SurgePays to provide its customers with 4G LTE and 5G wireless services, aiming to serve underserved and rural communities through its network of convenience stores and local outlets.
November 2024
State-owned Bharat Sanchar Nigam Limited (BSNL) has issued a tender to launch 5G services in Delhi, India, inviting bids from network providers and equipment manufacturers to deploy indigenous 5G using a standalone (SA) architecture across 1,876 sites.
Expansion of Private 5G Networks
Private 5G networks are becoming increasingly popular, especially among large enterprises that require secure, high-performance networks for specific applications. Companies in sectors like manufacturing, logistics, and healthcare are adopting private 5G to improve operations, enhance security, and enable real-time data processing at the edge, which can boost the 5G services demand growth. For instance, Boldyn Networks has launched Private 5G as a Service, aiming to facilitate digital transformation for enterprise customers without significant upfront investments. The company is investing 300 million EUR to support the broader adoption of private networks globally, focusing on enhancing safety, cybersecurity, and operational efficiency through reliable connectivity. Moreover, an Ericsson study suggests that implementing private 5G networks can cut operational costs for logistics companies by up to 30%, highlighting the significant financial benefits of adopting such technologies. As more enterprises invest in private 5G solutions, the landscape of telecommunications continues to evolve significantly.
Enhanced Mobile Broadband
Enhanced Mobile Broadband (eMBB) is one of the primary applications in 5G services market, designed to meet the increasing demand for high-speed internet access. This trend is known by the ability to support a larger number of users and devices with significantly improved data rates, reaching up to 10 Gbps in ideal conditions. For example, video streaming services have begun to leverage eMBB capabilities to deliver high-definition content seamlessly. Companies like Netflix and YouTube are optimising their platforms for 5G, allowing users to stream ultra-high-definition (UHD) videos without buffering delays. Moreover, network slicing plays a crucial role in enhancing mobile broadband services. By partitioning the network into multiple virtual slices, telecom operators can allocate specific resources to different applications based on their requirements. For instance, during major events like concerts or sports games, operators can create dedicated slices that prioritise connectivity for attendees using mobile devices. This ensures that streaming services remain uninterrupted even under heavy network load. Examples of eMBB and network slicing in action include trials conducted by Nokia and Google, where they successfully tested network slicing on Google Pixel devices. This trial demonstrated how a smartphone could connect to multiple network slices simultaneously.
Rising Impact of Network Slicing Across Industries
Network slicing allows telecom operators to create customised network environment. This flexibility is particularly beneficial for industries, such as healthcare and manufacturing. For example, hospitals can deploy private network slices that ensure high security and low latency for critical applications like remote surgeries. These slices can be configured to maintain strict data privacy regulations while providing the necessary bandwidth for transmitting large medical images. In manufacturing, companies like Ericsson and TIM have conducted trials at Comau’s factory in Italy, using network slicing to connect physical robots with their digital twins. This setup enables real-time synchronisation, enhancing operational efficiency through predictive maintenance and optimised production processes. Additionally, Turkcell and Ericsson have demonstrated the use of autonomous mobile robots (AMRs) in industrial settings using network slicing to facilitate low-latency communication necessary for real-time operations.
Growing Usage of IoT
A crucial trend of 5G services market is the surging popularity of IoT utilisation in various sectors like oil and gas, manufacturing, transportation, logistics, energy/utilities, mining and metals, and aviation, among others. With shifting consumer preferences towards remote working patterns, and rising demand for high-speed and low-latency data connectivity, the market growth is expected to bolster across the globe during the forecast period. The Internet of Things (IoT) ecosystem is also expanding with the rise of 5G, enabling smart cities, smart homes, and connected vehicles. For instance, Greater Manchester, UK has implemented 5G smart junctions that utilise AI and video analytics to optimise traffic signals. By collecting real-time data on vehicle movement, the system enhances traffic flow and reduces congestion, showcasing how 5G can improve urban mobility. Additionally, Piloto 5G Catalunya is a project in Spain that employs a 5G private city network to enhance public services through real-time data analysis.
5G Services Market Trends
Telecom providers are increasingly adopting cloud-native 5G architectures, which allow for greater flexibility, scalability, and cost-efficiency in network management. Cloud-based 5G solutions enable network slicing, allowing different industries to customise their networks based on specific needs, which can aid the demand of 5G services market. A survey by Infosys revealed that 77% of telecom executives reported that their cloud migration efforts have been very effective or extremely effective, leading to significant cost savings and improved performance. The adoption of cloud-native network functions (CNFs) is crucial in transforming the industry to meet diverse demands from 5G applications.
According to a report from STL Partners, as of March 2024, there were 72 telco deployments planned for 2024, focusing primarily on various flavors of 5G core and virtualised RAN (vRAN). This indicates a robust commitment among telecom operators to transition towards cloud-native architectures. With the increase in 5G adoption, there is a surge in demand for edge computing to process data closer to the source, reducing latency and enhancing performance. This trend supports applications requiring real-time processing, such as AI, IoT, and autonomous systems.
5G Services Market Restraints
The financial burden associated with deploying 5G networks is significant. This includes expenses related to acquiring spectrum licenses, installing new infrastructure such as small cells, and upgrading existing networks. A report indicates that telecom operators face substantial costs in transitioning from 4G to 5G, which may deter smaller operators from investing heavily in 5G infrastructure and can impact 5G services market revenue.
Delays in achieving spectrum harmonisation across different regions pose a challenge for telecom providers. The lack of synchronised spectrum allocation complicates efforts for operators to establish efficient and cohesive 5G ecosystems. This situation not only affects the global roaming capabilities of 5G devices but also increases operational costs for service providers.
Surveys indicate that many consumers do not perceive a significant difference between 4G and 5G services. For instance, a Deloitte survey found that 54% of respondents could not distinguish between the two technologies, which suggests that immediate consumer demand for 5G may be lacking.
5G Services Market Dynamics
The media and entertainment, healthcare, and automotive industries are embracing 5G-enabled applications and increasing the 5G services market value. For example, autonomous vehicles, remote surgery, and AR/VR applications are being driven by the capabilities of 5G to deliver higher bandwidth, ultra-low latency, and seamless connectivity. For instance, in 2021, Ericsson partnered with Volvo to conduct the first cross-border 5G network vehicular handover, demonstrating seamless service continuity for autonomous vehicles across borders. This trial showcased how 5G can facilitate real-time updates of HD maps, allowing connected cars to operate as smart clusters that communicate continuously throughout their journeys.
Companies like Netflix and YouTube are also poised to benefit from 5G's high-speed connectivity, enabling seamless streaming of high-definition content without buffering. This capability enhances user experience significantly, especially for live events and interactive media applications.
5G Services Industry Segmentation
“5G Services Market Report and Forecast 2025-2034” offers a detailed analysis of the market based on the following segments:
Market Breakup by End User
- IT and Telecom
- Media and Entertainment
- Automotive
- Energy and Utility
- Aerospace and Defence
- Others
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Market Insights by End User Insights
The IT and Telecom sector leads the 5G services market share as telecom operators are the primary service providers for 5G networks. Major players like Verizon, AT&T, and China Mobile are investing heavily in 5G deployment. The demand for faster internet speeds, improved network reliability, and new service offerings like cloud gaming, virtual reality, and augmented reality are driving growth in this sector. The media and entertainment industry is leveraging 5G to deliver higher-quality content, improve streaming services, and enhance virtual and augmented reality experiences. As demand for high-definition video streaming rises, 5G enables faster content delivery and interactive media experiences.
5G also enables connected cars, enhancing features like autonomous driving and real-time traffic management. For example, Audi and BMW are actively involved in 5G trials for autonomous vehicles. The UK Government has launched a EUR 250 million fund to support the development of connected and autonomous vehicle technology, leveraging 5G for vehicle-to-everything (V2X) communication.
As per 5G services market analysis, 5G is also crucial for enabling smart grids, predictive maintenance, and efficient energy management. China Mobile and State Grid Corporation of China have collaborated on 5G-based smart grid pilot projects to enhance energy distribution and monitoring. In Europe, Telecom Italia has partnered with energy companies to use 5G for smart metering and remote infrastructure management, improving operational efficiency.
In aerospace, 5G supports real-time communication and data-sharing between aircraft and ground control. Lufthansa has conducted tests using 5G for enhanced in-flight connectivity and real-time passenger services. The FAA in the U.S. is working to integrate 5G technologies to improve air traffic control systems, with pilots using 5G networks for faster data transmission in airspace management.
5G Services Market Regional Analysis
North America 5G Services Market Growth
North America, particularly the United States, has seen rapid 5G rollouts due to the advanced telecom infrastructure and large investments from companies like Verizon, AT&T, and T-Mobile. T-Mobile has made significant advancements in its 5G network, claiming coverage for 320 million people across 1.8 million square miles with its Extended Range service, which boosts the 5G services industry revenue. Its Ultra Capacity 5G, which uses mid-band and millimeter wave spectrum, covers around 235 million people, with plans to increase that number to 260 million by the end of 2024.
There is a growing demand for high-speed internet for applications like autonomous vehicles, smart cities, and IoT. The U.S. Federal Communications Commission (FCC) has been actively supporting the rollout of 5G through spectrum allocation and funding initiatives.
Asia Pacific 5G Services Market Dynamics
The rising adoption of new technologies coupled with enhanced mobile broadband services and surging usage of IoT are driving the growth of the 5G services market in the Asia Pacific region. The 5G wireless networks tend to influence consumers as well as segments such as automobiles, manufacturing, and IoT. Additionally, operators such as China Telecom are expected to produce a strong ecosystem of cloud, AI, and 5G which is likely to bolster the market growth of 5G in the region.
Governments are supporting the early adoption of 5G, and manufacturers are investing aggressively in 5G network infrastructure in countries like China, Japan, and South Korea. Going further, the growing digitalisation and rising emphasis on building partnerships through 5G system integration are expected to augment the adoption of 5G services.
Europe 5G Services Market Opportunities
European telecom operators such as Vodafone, Orange, and Deutsche Telekom, are rapidly rolling out 5G networks to cater to both consumer and enterprise demands. The European Union has further allocated billions in funding for 5G and digital infrastructure through its Digital Compass and 5G Action Plan, aiming to lead globally in connectivity which can improve 5G services market opportunities.
Under the Barcelona Smart City Initiative, Barcelona has integrated 5G technology into its urban infrastructure to support various applications such as smart lighting, waste management, and air quality monitoring. The city aims to create a more sustainable urban environment by utilising connected sensors and data analytics.
Latin America 5G Services Market Growth
Several Latin American government bodies have made significant strides in auctioning the 5G spectrum, particularly in Brazil and Mexico. As per the 5G services industry analysis, Latin America has a high mobile-first population, driving demand for improved mobile data services and faster internet speeds. Telecom operators like Claro, Movistar, and Oi are deploying 5G to enhance coverage and cater to the growing demand for digital services. As of 2023, Brazil and Mexico have successfully launched 5G services, with plans for wider national coverage in the coming years.
Middle East and Africa 5G Services Market Dynamics
Countries like the UAE, Saudi Arabia, and South Africa have made strategic investments to become early adopters of 5G technology. Government bodies in the region are prioritising digital transformation, urban development, and smart city initiatives which can fuel the growth of the 5G services industry. There is a strong demand for high-speed internet in urban areas, while rural areas are benefiting from telemedicine, e-commerce, and education via 5G.
Companies such as Etisalat and STC in the UAE and Saudi Arabia are at the forefront of 5G deployment in the region.
Innovative Startups in 5G Services Market
Startups in the market are focusing on developing innovative solutions to enhance 5G infrastructure and services. Many are working on edge computing, which brings data processing closer to the source, reducing latency, improving the performance of 5G applications, and further impacting 5G services market dynamics and trends. Startups are also creating specialised IoT devices and network management tools to optimise 5G networks, particularly for industries like smart cities, healthcare, and manufacturing.
Celona
Celona is a US-based startup that focuses on delivering private 5G networks for enterprises. The company provides solutions that enable businesses to leverage 5G's low latency and high-speed capabilities while maintaining control over their network infrastructure. Celona’s platform integrates with existing enterprise IT systems, offering benefits such as enhanced security, network flexibility, and support for IoT applications.
Mavenir
Celona is a US-based startup that focuses on delivering private 5G networks for enterprises. The company provides solutions that enable businesses to leverage 5G's low latency and high-speed capabilities while maintaining control over their network infrastructure. Celona’s platform integrates with existing enterprise IT systems, offering benefits such as enhanced security, network flexibility, and support for IoT applications.
Competitive Landscape
The report presents a detailed analysis of the following key players in the global 5G services market, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions. Companies are focusing on expanding network infrastructure, enhancing connectivity, and introducing innovative services to meet the growing demand for faster and more reliable mobile internet. Telecom operators are investing heavily in 5G network deployment, particularly in urban areas and key industrial hubs.
Nokia Corporation
Nokia Corporation is a Finnish multinational company founded in 1865, originally as a paper mill. It evolved through various industries, including rubber and cables, before establishing itself as a leader in telecommunications.
Huawei Technologies Co Ltd.
Huawei Technologies Co., Ltd., founded in 1987 by Ren Zhengfei in Shenzhen, China, is a leading global provider of information and communications technology (ICT) solutions. Initially focused on manufacturing telephone switches, Huawei has expanded its offerings to include telecommunications equipment, consumer electronics, smart devices, and cloud computing solutions.
AT&T Inc.
AT&T Inc., headquartered in Dallas, Texas, is one of the largest telecommunications companies globally. The company provides a wide range of services including wireless communications, broadband internet, local and long-distance telephone services, and media content production.
Other major players in the market are Deutsche Telekom AG, Telefonaktiebolaget LM Ericsson, and Vodafone Group, among others.
Table of Contents
180 Pages
- 1 Executive Summary
- 1.1 Market Size 2024-2025
- 1.2 Market Growth 2025(F)-2034(F)
- 1.3 Key Demand Drivers
- 1.4 Key Players and Competitive Structure
- 1.5 Industry Best Practices
- 1.6 Recent Trends and Developments
- 1.7 Industry Outlook
- 2 Market Overview and Stakeholder Insights
- 2.1 Market Trends
- 2.2 Key Verticals
- 2.3 Key Regions
- 2.4 Supplier Power
- 2.5 Buyer Power
- 2.6 Key Market Opportunities and Risks
- 2.7 Key Initiatives by Stakeholders
- 3 Economic Summary
- 3.1 GDP Outlook
- 3.2 GDP Per Capita Growth
- 3.3 Inflation Trends
- 3.4 Democracy Index
- 3.5 Gross Public Debt Ratios
- 3.6 Balance of Payment (BoP) Position
- 3.7 Population Outlook
- 3.8 Urbanisation Trends
- 4 Country Risk Profiles
- 4.1 Country Risk
- 4.2 Business Climate
- 5 Global 5G Services Market Analysis
- 5.1 Key Industry Highlights
- 5.2 Global 5G Services Market Size (2024-2034)
- 5.3 Global 5G Services Market by End User (2024-2034)
- 5.3.1 IT and Telecom
- 5.3.2 Media and Entertainment
- 5.3.3 Automotive
- 5.3.4 Energy and Utility
- 5.3.5 Aerospace and Defence
- 5.3.6 Others
- 5.4 Global 5G Services Market by Region (2024-2034)
- 5.4.1 North America
- 5.4.2 Europe
- 5.4.3 Asia Pacific
- 5.4.4 Latin America
- 5.4.5 Middle East and Africa
- 6 North America 5G Services Market Analysis (224-2034)
- 6.1 United States of America
- 6.2 Canada
- 7 Europe 5G Services Market Analysis (224-2034)
- 7.1 United Kingdom
- 7.2 Germany
- 7.3 France
- 7.4 Italy
- 7.5 Others
- 8 Asia Pacific 5G Services Market Analysis (224-2034)
- 8.1 China
- 8.2 Japan
- 8.3 India
- 8.4 ASEAN
- 8.5 Australia
- 8.6 Others
- 9 Latin America 5G Services Market Analysis (224-2034)
- 9.1 Brazil
- 9.2 Argentina
- 9.3 Mexico
- 9.4 Others
- 10 Middle East and Africa 5G Services Market Analysis (224-2034)
- 10.1 Saudi Arabia
- 10.2 United Arab Emirates
- 10.3 Nigeria
- 10.4 South Africa
- 10.5 Others
- 11 Market Dynamics
- 11.1 SWOT Analysis
- 11.1.1 Strengths
- 11.1.2 Weaknesses
- 11.1.3 Opportunities
- 11.1.4 Threats
- 11.2 Porter’s Five Forces Analysis
- 11.2.1 Supplier’s Power
- 11.2.2 Buyer’s Power
- 11.2.3 Threat of New Entrants
- 11.2.4 Degree of Rivalry
- 11.2.5 Threat of Substitutes
- 11.3 Key Indicators for Demand
- 11.4 Key Indicators for Price
- 12 Competitive Landscape
- 12.1 Supplier Selection
- 12.2 Key Global Players
- 12.3 Key Regional Players
- 12.4 Key Player Strategies
- 12.5 Company Profiles
- 12.5.1 Nokia Corporation
- 12.5.1.1 Company Overview
- 12.5.1.2 Product Portfolio
- 12.5.1.3 Demographic Reach and Achievements
- 12.5.1.4 Certifications
- 12.5.2 Huawei Technologies Co Ltd.
- 12.5.2.1 Company Overview
- 12.5.2.2 Product Portfolio
- 12.5.2.3 Demographic Reach and Achievements
- 12.5.2.4 Certifications
- 12.5.3 AT&T Inc.
- 12.5.3.1 Company Overview
- 12.5.3.2 Product Portfolio
- 12.5.3.3 Demographic Reach and Achievements
- 12.5.3.4 Certifications
- 12.5.4 Deutsche Telekom AG
- 12.5.4.1 Company Overview
- 12.5.4.2 Product Portfolio
- 12.5.4.3 Demographic Reach and Achievements
- 12.5.4.4 Certifications
- 12.5.5 Telefonaktiebolaget LM Ericsson
- 12.5.5.1 Company Overview
- 12.5.5.2 Product Portfolio
- 12.5.5.3 Demographic Reach and Achievements
- 12.5.5.4 Certifications
- 12.5.6 Vodafone Group
- 12.5.6.1 Company Overview
- 12.5.6.2 Product Portfolio
- 12.5.6.3 Demographic Reach and Achievements
- 12.5.6.4 Certifications
- 12.5.7 Others
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