5G Services Market Size - By Application (Consumer Applications, Industrial Applications, Connected Vehicles, Smart Cities, Healthcare, Agriculture, Retail Transportation & Logistics), End User (Consumers, Enterprises), Communication Type & Forecast, 2024-2032
Published Date: April - 2025 | Publisher: MRA | No of Pages: 240 | Industry: Media and IT | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request Customization5G Services Market size
5G Services Market size was USD 98.9 billion in 2023 and is expected to achieve a CAGR of 31% during the forecast period from 2024 to 2032. High data speed and capacity demand are driving the market as data-intensive applications, remote work, IoT, and emerging technologies need fast and smooth data transmission. For example, in February 2023, Reliance Jio recently launched its high-speed 5G services, now available in 20 cities across 11 states and union territories. This high-speed network infrastructure can also enhance different segments in their operations such as, e-governance, automation, artificial intelligence.
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The ultra-low latency is the key enabler for the market of 5G services with real time feedback for numerous applications like, self-driving cars, remote surgeries, virtual reality and augmented reality. Reducing the latency to milliseconds, 5G services allow smooth interactivity, improving the user experience. In addition to this, business sectors like gaming, industrial automation, and healthcare are also advantaged by the ultra-low latency. As these cutting-edge applications become more popular, the need for 5G's ultra-low latency drives its adoption and market expansion.
| Report Attribute | Details |
|---|---|
| Base Year | 2023 |
| 5G Services Market Size in 2023 | USD 98.9 Billion |
| Forecast Period | 2024 to 2032 |
| Forecast Period 2024 to 2032 CAGR | 31% |
| 2032 Value Projection | USD 1.02 Trillion |
| Historical Data for | 2018 - 2023 |
| No. of Pages | 230 |
| Tables, Charts & Figures | 296 |
| Segments covered | Communication Type, Application, End User |
| Growth Drivers |
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| Pitfalls & Challenges |
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What are the growth opportunities in this market?
The technical sophistication of 5G service networks pose a challenge to their extensive infrastructure. The 5G service has complex network designs and technologies like, millimeter-wave frequencies and massive MIMO systems. The installation, maintenance, and fault-finding of these networks require specialized skills, resulting in increased operational costs. The requirement of skilled labor and specialized tools can potentially lengthen deployment times, slowing down the speedy expansion of 5G services across regions.
COVID-19 Impact
The COVID-19 pandemic had both positive and negative impacts on the 5G services market. Although it hastened the need for secure and high-speed connectivity to support remote work, virtual collaboration, and online services, it also resulted in delays in network deployment as a result of supply chain disruptions and lower workforce availability. Moreover, economic uncertainty during the pandemic caused some organizations to delay or reduce their 5G investment plans, impacting market growth to some degree.
5G Services Market Trends
Growing need for enterprise-grade extended reality (XR) solutions, including virtual reality (VR) and augmented reality (AR), is a major growth driver of the 5G services market. The immersive technologies demand ultra-low latency and high speeds of data to enable real-time interaction and seamless experience. As businesses embrace XR for remote training, product design, and collaboration, the features of 5G networks become crucial. This increasing demand for robust and high-performance connectivity is driving the growth of 5G services to satisfy the needs of the XR ecosystem.
5G Services Market Analysis
Discover more about the dominant segments influencing this market
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By end user, the enterprises segment raked in revenue of approximately USD 56 billion in 2023, thanks to their rising dependence on data-intensive applications. For example, in February 2022, Cisco collaborated with global partners to deliver Private 5G as-a-Service, allowing businesses to gain reduced technical, financial, and operational risks in managing private 5G networks. Cisco's Private 5G streamlines financial elements, using pay-as-you-use formats that avoid customers from initial infrastructure costs. The subscription offered to businesses can calculated as profitable for the providers of the 5G service.
Discover more about the major segments contributing to this market
On the basis of type of communication, the eMBB segment controlled a majority in revenue in 5G services market in 2023. Partnerships are proving to be driving the eMBB segment of the market.
For example, in June 2023, Charter Communications announced an alliance with Nokia on launching 5G connectivity solutions. With this partnership, Charter seeks to deliver widespread access to fast speeds and enhanced mobile services to its users, further establishing its reputation as a leading provider of broadband connectivity solutions. eMBB provides users with buffer-free streaming of 4K and even 8K videos, promoting immersive and high-quality content viewing.
Searching for region specific information?
Asia Pacific 5G services market held 37% revenue share in 2023. With its large and varied population, the need for greater connectivity and data-hungry applications is increasing. This is as per the strengths of 5G, and it is generating tremendous interest. Owing to growing smartphone usage for entertainment, business, and communication, the Asia Pacific market has much to gain from the seamless, high-speed, and immersive experience provided by 5G services.
5G Services Market Share
Major companies operating in the 5G services industry are
- 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
Intense competition among key players in the 5G services industry driven by innovations, network infrastructure, service quality, and market share battles.
5G Services Industry News
- In July 2023, Airtel Zambia unveiled its 5G network. The event highlighted the prowess of Airtel's 5G services, offering attendees a chance to explore high-speed network connectivity through smartphones, virtual reality (VR) encounters, immersive VR gaming, VR Golf simulations, 8K streaming, and an array of exciting experiences. The launch event was a vibrant showcase of Airtel Zambia's cutting-edge 5G capabilities.
- In October 2022, in collaboration with Mitsui Knowledge Company, JTower, and Airspan Networks, Cisco has implemented an indigenous 5G Open RAN (O-RAN) ecosystem for sharing in-building infrastructure. The primary objective is to introduce localized 5G networks within Japan, focusing on enhancing in-building connectivity and network capabilities.
The 5G services market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue (USD Million) from 2018 to 2032, for the following segments
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Market, By Communication Type
- Fixed Wireless Access
- Enhanced Mobile Broadband
- Massive Machine-Type Communication
- Ultra-Reliable Low-Latency
Market, By Application
- Consumer Applications
- Industrial Applications
- Connected Vehicles
- Smart Cities
- Healthcare
- Agriculture
Market, By End Users
- Consumers
- Enterprises
- Manufacturing
- Media & Entertainment
- Government
- Energy & Utilities
- Transportation & Logistics
- Healthcare
- Others
The above information has been provided for the following regions and countries
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Russia
- Nordics
- Asia Pacific
- China
- India
- Japan
- South Korea
- ANZ
- Singapore
- Southeast Asia
- Latin America
- Brazil
- Mexico
- Argentina
- MEA
- South Africa
- UAE
- Saudi Arabia
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