PUBLISHER: Prescient & Strategic Intelligence | PRODUCT CODE: 1617688
PUBLISHER: Prescient & Strategic Intelligence | PRODUCT CODE: 1617688
5G Services Market Size & Share Analysis - Trends, Drivers, Competitive Landscape, and Forecasts (2024 - 2030)
Market Overview
The 5G services market is projected to grow from USD 129.1 billion in 2024 to USD 782.2 billion by 2030, registering an impressive CAGR of 35.0% during the forecast period. This exponential growth is driven by the increasing demand for high-speed connectivity, low-latency communications, and the rise of smart technologies across industries such as healthcare, manufacturing, automotive, and entertainment.
The adoption of ultra-reliable low-latency communication (URLLC) for mission-critical applications, coupled with the expansion of IoT and smart city projects, is propelling market demand. Additionally, supportive government initiatives and private-sector investments are accelerating the deployment of 5G infrastructure globally.
Key Insights
Market Segmentation:
By communication type, the enhanced mobile broadband (eMBB) category holds the largest market share in 2024, driven by rising demand for high-speed mobile internet, HD video streaming, and AR/VR applications. The ultra-reliable low-latency communication (URLLC) category is expected to grow the fastest, as it supports mission-critical applications like autonomous vehicles, remote surgery, and advanced robotics.
By application, the communication & collaboration segment dominates, accounting for 40% share in 2024, owing to remote work trends and the increasing adoption of cloud-based collaboration tools. The smart cities and autonomous vehicles categories are also witnessing significant growth, driven by advancements in IoT and real-time communication technologies.
Trends and Drivers:
The rising adoption of private 5G networks is a key trend, as organizations deploy custom-built, secure networks to ensure high reliability and seamless connectivity. Industries like manufacturing, logistics, and utilities are embracing private networks for smart factories, predictive maintenance, and automated operations.
The proliferation of IoT devices is a major growth driver, as 5G networks support large-scale connections with low latency, enabling real-time monitoring and control. Smart city applications, including traffic management, energy optimization, and environmental monitoring, are highly dependent on 5G connectivity.
The integration of AR/VR technologies, particularly in gaming, education, and industrial training, is further fueling the demand for 5G services. These applications require high bandwidth and low latency, which 5G networks efficiently provide.
Regional Analysis:
Asia-Pacific is the largest and fastest-growing region in the 5G services market, supported by rapid urbanization, government-backed infrastructure initiatives, and large-scale investments in 5G deployment across China, Japan, South Korea, and India.
North America holds a significant market share, with strong adoption of 5G technologies in industries like entertainment, manufacturing, and healthcare. Leading telecom players in the U.S. are heavily investing in expanding 5G infrastructure.
Europe is also witnessing substantial growth, driven by the rising adoption of smart technologies, 5G-enabled transportation, and compliance with sustainability initiatives.
Competitive Landscape:
The market is fragmented, with telecom operators, technology firms, and infrastructure providers focusing on strategic partnerships, investments, and technological advancements. Companies are increasingly investing in R&D to expand 5G coverage, develop advanced applications, and enhance network performance to meet the growing demand for connectivity.
The combination of rising demand for high-speed, low-latency communications and advancements in IoT and smart technologies positions the 5G services market for robust growth over the forecast period.
Table of Contents
Chapter 1. Research Scope
- 1.1. Research Objectives
- 1.2. Market Definition
- 1.3. Analysis Period
- 1.4. Market Size Breakdown by Segments
- 1.4.1. Market size breakdown, by communication type
- 1.4.2. Market size breakdown, by application
- 1.4.3. Market size breakdown, by vertical
- 1.4.4. Market size breakdown, by region
- 1.4.5. Market size breakdown, by country
- 1.5. Market Data Reporting Unit
- 1.5.1. Value
- 1.6. Key Stakeholders
Chapter 2. Research Methodology
- 2.1. Secondary Research
- 2.1.1. Paid
- 2.1.2. Unpaid
- 2.1.3. P&S Intelligence database
- 2.2. Primary Research
- 2.3. Market Size Estimation
- 2.4. Data Triangulation
- 2.5. Currency Conversion Rates
- 2.6. Assumptions for the Study
- 2.7. Notes and Caveats
Chapter 3. Executive Summary
Chapter 4. Market Indicators
Chapter 5. Industry Outlook
- 5.1. Market Dynamics
- 5.1.1. Trends
- 5.1.2. Drivers
- 5.1.3. Restraints/challenges
- 5.1.4. Impact analysis of drivers/restraints
- 5.2. Impact of COVID-19
- 5.3. Porter's Five Forces Analysis
- 5.3.1. Bargaining power of buyers
- 5.3.2. Bargaining power of suppliers
- 5.3.3. Threat of new entrants
- 5.3.4. Intensity of rivalry
- 5.3.5. Threat of substitutes
Chapter 6. Global Market
- 6.1. Overview
- 6.2. Market Revenue, by Communication Type (2019-2030)
- 6.3. Market Revenue, by Application (2019-2030)
- 6.4. Market Revenue, by Vertical (2019-2030)
- 6.5. Market Revenue, by Region (2019-2030)
Chapter 7. North America Market
- 7.1. Overview
- 7.2. Market Revenue, by Communication Type (2019-2030)
- 7.3. Market Revenue, by Application (2019-2030)
- 7.4. Market Revenue, by Vertical (2019-2030)
- 7.5. Market Revenue, by Country (2019-2030)
Chapter 8. Europe Market
- 8.1. Overview
- 8.2. Market Revenue, by Communication Type (2019-2030)
- 8.3. Market Revenue, by Application (2019-2030)
- 8.4. Market Revenue, by Vertical (2019-2030)
- 8.5. Market Revenue, by Country (2019-2030)
Chapter 9. APAC Market
- 9.1. Overview
- 9.2. Market Revenue, by Communication Type (2019-2030)
- 9.3. Market Revenue, by Application (2019-2030)
- 9.4. Market Revenue, by Vertical (2019-2030)
- 9.5. Market Revenue, by Country (2019-2030)
Chapter 10. LATAM Market
- 10.1. Overview
- 10.2. Market Revenue, by Communication Type (2019-2030)
- 10.3. Market Revenue, by Application (2019-2030)
- 10.4. Market Revenue, by Vertical (2019-2030)
- 10.5. Market Revenue, by Country (2019-2030)
Chapter 11. MEA Market
- 11.1. Overview
- 11.2. Market Revenue, by Communication Type (2019-2030)
- 11.3. Market Revenue, by Application (2019-2030)
- 11.4. Market Revenue, by Vertical (2019-2030)
- 11.5. Market Revenue, by Country (2019-2030)
Chapter 12. U.S. Market
- 12.1. Overview
- 12.2. Market Revenue, by Communication Type (2019-2030)
- 12.3. Market Revenue, by Application (2019-2030)
- 12.4. Market Revenue, by Vertical (2019-2030)
Chapter 13. Canada Market
- 13.1. Overview
- 13.2. Market Revenue, by Communication Type (2019-2030)
- 13.3. Market Revenue, by Application (2019-2030)
- 13.4. Market Revenue, by Vertical (2019-2030)
Chapter 14. Germany Market
- 14.1. Overview
- 14.2. Market Revenue, by Communication Type (2019-2030)
- 14.3. Market Revenue, by Application (2019-2030)
- 14.4. Market Revenue, by Vertical (2019-2030)
Chapter 15. France Market
- 15.1. Overview
- 15.2. Market Revenue, by Communication Type (2019-2030)
- 15.3. Market Revenue, by Application (2019-2030)
- 15.4. Market Revenue, by Vertical (2019-2030)
Chapter 16. U.K. Market
- 16.1. Overview
- 16.2. Market Revenue, by Communication Type (2019-2030)
- 16.3. Market Revenue, by Application (2019-2030)
- 16.4. Market Revenue, by Vertical (2019-2030)
Chapter 17. Italy Market
- 17.1. Overview
- 17.2. Market Revenue, by Communication Type (2019-2030)
- 17.3. Market Revenue, by Application (2019-2030)
- 17.4. Market Revenue, by Vertical (2019-2030)
Chapter 18. Spain Market
- 18.1. Overview
- 18.2. Market Revenue, by Communication Type (2019-2030)
- 18.3. Market Revenue, by Application (2019-2030)
- 18.4. Market Revenue, by Vertical (2019-2030)
Chapter 19. Japan Market
- 19.1. Overview
- 19.2. Market Revenue, by Communication Type (2019-2030)
- 19.3. Market Revenue, by Application (2019-2030)
- 19.4. Market Revenue, by Vertical (2019-2030)
Chapter 20. China Market
- 20.1. Overview
- 20.2. Market Revenue, by Communication Type (2019-2030)
- 20.3. Market Revenue, by Application (2019-2030)
- 20.4. Market Revenue, by Vertical (2019-2030)
Chapter 21. India Market
- 21.1. Overview
- 21.2. Market Revenue, by Communication Type (2019-2030)
- 21.3. Market Revenue, by Application (2019-2030)
- 21.4. Market Revenue, by Vertical (2019-2030)
Chapter 22. Australia Market
- 22.1. Overview
- 22.2. Market Revenue, by Communication Type (2019-2030)
- 22.3. Market Revenue, by Application (2019-2030)
- 22.4. Market Revenue, by Vertical (2019-2030)
Chapter 23. South Korea Market
- 23.1. Overview
- 23.2. Market Revenue, by Communication Type (2019-2030)
- 23.3. Market Revenue, by Application (2019-2030)
- 23.4. Market Revenue, by Vertical (2019-2030)
Chapter 24. Brazil Market
- 24.1. Overview
- 24.2. Market Revenue, by Communication Type (2019-2030)
- 24.3. Market Revenue, by Application (2019-2030)
- 24.4. Market Revenue, by Vertical (2019-2030)
Chapter 25. Mexico Market
- 25.1. Overview
- 25.2. Market Revenue, by Communication Type (2019-2030)
- 25.3. Market Revenue, by Application (2019-2030)
- 25.4. Market Revenue, by Vertical (2019-2030)
Chapter 26. Saudi Arabia Market
- 26.1. Overview
- 26.2. Market Revenue, by Communication Type (2019-2030)
- 26.3. Market Revenue, by Application (2019-2030)
- 26.4. Market Revenue, by Vertical (2019-2030)
Chapter 27. South Africa Market
- 27.1. Overview
- 27.2. Market Revenue, by Communication Type (2019-2030)
- 27.3. Market Revenue, by Application (2019-2030)
- 27.4. Market Revenue, by Vertical (2019-2030)
Chapter 28. U.A.E. Market
- 28.1. Overview
- 28.2. Market Revenue, by Communication Type (2019-2030)
- 28.3. Market Revenue, by Application (2019-2030)
- 28.4. Market Revenue, by Vertical (2019-2030)
Chapter 29. Competitive Landscape
- 29.1. List of Market Players and their Offerings
- 29.2. Competitive Benchmarking of Key Players
- 29.3. Product Benchmarking of Key Players
- 29.4. Recent Strategic Developments
Chapter 30. Company Profiles
- 30.1. AT&T Inc.
- 30.1.1. Business overview
- 30.1.2. Product and service offerings
- 30.1.3. Key financial summary
- 30.2. British Telecommunications plc
- 30.2.1. Business overview
- 30.2.2. Product and service offerings
- 30.2.3. Key financial summary
- 30.3. China Mobile Ltd.
- 30.3.1. Business overview
- 30.3.2. Product and service offerings
- 30.3.3. Key financial summary
- 30.4. China Telecom Corporation Ltd.
- 30.4.1. Business overview
- 30.4.2. Product and service offerings
- 30.4.3. Key financial summary
- 30.5. KT Corporation
- 30.5.1. Business overview
- 30.5.2. Product and service offerings
- 30.5.3. Key financial summary
- 30.6. Saudi Telecom Company
- 30.6.1. Business overview
- 30.6.2. Product and service offerings
- 30.6.3. Key financial summary
- 30.7. Vodafone Group Plc
- 30.7.1. Business overview
- 30.7.2. Product and service offerings
- 30.7.3. Key financial summary
- 30.8. Deutsche Telekom AG
- 30.8.1. Business overview
- 30.8.2. Product and service offerings
- 30.8.3. Key financial summary
- 30.9. SK Telecom Co. Ltd.
- 30.9.1. Business overview
- 30.9.2. Product and service offerings
- 30.9.3. Key financial summary
- 30.10. Rakuten Mobile Inc.
- 30.10.1. Business overview
- 30.10.2. Product and service offerings
- 30.10.3. Key financial summary
- 30.11. KDDI Corporation
- 30.11.1. Business overview
- 30.11.2. Product and service offerings
- 30.11.3. Key financial summary
- 30.12. Aarna Networks Inc.
- 30.12.1. Business overview
- 30.12.2. Product and service offerings
- 30.12.3. Key financial summary
Chapter 31. Appendix
- 31.1. Abbreviations
- 31.2. Sources and References
- 31.3. Related Reports
