5g demand and services market is predicted to reach USD 6341.3 billion at a CAGR of 55% during the forecast period 2023-2032

Market Research Future (MRFR) has published on the “Global 5g demand and services market”.

Market Research Future (MRFR) has published a cooked research report on the “Global 5g demand and services Market” that contains information from 2018 to 2032. The 5g demand and services market is estimated to register a CAGR of 55.00% during the forecast period of 2023 to 2032.

MRFR recognizes the following companies as the key players in the global 5g demand and services market— 

• Ericsson


• AT&T


• T-Mobile US


• Nokia


• Microsoft


• Azure Private 5G


• Qualcomm


• AWS Wavelength 


• Acacia communications.

Market Highlights

The global 5g demand and services market is accounted to register a CAGR of 55.00% during the forecast period and is estimated to reach USD 6341.3 billion by 2032.

The market for 5G demand and services is experiencing rapid growth driven by the escalating global demand for high-speed, low-latency connectivity, the proliferation of connected devices, and the emergence of transformative technologies such as the Internet of Things (IoT) and autonomous vehicles. Telecom operators and technology providers are investing significantly in 5G infrastructure to meet the increasing consumer and business expectations for enhanced mobile broadband, reliable connectivity, and support for advanced applications.

Segment Analysis

The global 5g demand and services market has been segmented based on communication type, application and end user.

On the basis of communication type, the market is segmented into Enhanced Mobile Broadband, Massive Machine Type Communication and Ultra-Reliable Low-Latency Communication. The enhanced mobile broadband segment was attributed to holding the largest market share in 2022 by providing significantly faster data speeds.

Based on application, the global 5g demand and services market has been segmented into Smart Cities, Smart Buildings, Industry 4.0, Autonomous Vehicles, Smart Healthcare, Smart Utilities and Others. The smart cities segment was expected to hold the largest market share in 2022, due to the demand for high-speed, low-latency networks to efficiently manage and connect a multitude of devices and sensors.

Based on end user, the global 5g demand and services market has been segmented into Consumer and Enterprises. The enterprises segment was expected to hold the largest market share in 2022, by leveraging the technology to enhance operational efficiency, productivity, and innovation.

Regional Analysis

The global 5g demand and services market, based on region, has been divided into the North America, Europe, Asia-Pacific, and Rest of the World. North America consists of US and Canada. The Europe 5g demand and services market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The 5g demand and services market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World 5g demand and services market comprises of Middle East, Africa, and Latin America.

The largest market share for 5g demand and services was maintained by the North American regional sector. This increase is attributed to the widespread adoption of advanced technologies, such as the Internet of Things (IoT), augmented reality (AR), and virtual reality (VR), which require high-speed and low-latency connectivity. Telecom operators' aggressive deployment of 5G infrastructure, coupled with increasing consumer demand for faster and more reliable communication networks, further fuels the market growth. Additionally, the burgeoning need for enhanced mobile broadband, especially in urban centres, and the push for 5G-enabled innovations in industries drives the market.

Moreover, the Europe market has been persistently growing over the forecast period. The demand for 5g demand and services is driven by a surge in data consumption, the need for high-speed connectivity, and the growing adoption of Internet of Things (IoT) devices. As consumers and businesses demand faster and more reliable internet services, 5G technology is seen as a critical enabler for delivering enhanced connectivity, low latency, and increased network capacity.

Additionally, Asia Pacific is anticipated to experience the quickest growth over the forecast period due to a surge in data consumption, rapid technological advancements, and a growing need for enhanced connectivity in diverse sectors. With the proliferation of smartphones and IoT devices, there is a heightened demand for faster and more reliable networks, propelling the adoption of 5G services across the region. Governments and businesses are investing significantly in 5G infrastructures to foster economic growth, innovation, and to maintain a competitive edge in the evolving digital landscape of Asia Pacific.

Furthermore, the rest of the world's 5g demand and services market is divided into the Middle East, Africa, and Latin America. This growth is attributed to the region's increasing digital transformation, rapid urbanization, and the growing need for high-speed and low-latency connectivity. Governments and telecommunications companies are investing significantly in 5G infrastructure to meet the surging demand for enhanced mobile broadband.

Key Findings of the Study

• The global 5g demand and services market is expected to reach USD 6341.3 billion by 2032, at a CAGR of 55.00% during the forecast period.


• The Asia-Pacific region accounted for the fastest-growing global market due to the burgeoning demand for high-speed connectivity, rapid digital transformation across industries, and increasing smartphone penetration.


• Based on application, the smart cities segment was attributed to holding the largest market in 2022, with an approximate market share of 45–55%.


• Ericsson, AT&T, T-Mobile US, Nokia, Microsoft, Azure Private 5G, Qualcomm, AWS Wavelength, Acacia communications.