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    5G Technology Market

    ID: MRFR/ICT/2202-CR
    100 Pages
    Shubham Munde
    January 2019

    5G Technology Market Research Report Information By Component (Hardware, Software, and Services), By Technology (Enhanced Mobile Broadband [eMBB], Ultra-Reliable Low Latency Communication [URLLC], and Massive Machine Type Communication [mMTC]), By Spectrum (5G NR Sub-6GHz and 5G NR mmWave), By Application (Consumer and Enterprises), and By Region (North America, Europe, Asia-Pacific, Middle East & Africa, and South America) - Forecast till 2035

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    5G Technology Market Infographic
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    5G Technology Market Summary

    As per Market Research Future Analysis, the 5G Technology Market was valued at USD 243.20 billion in 2024 and is projected to grow to USD 10020.32 billion by 2035, with a CAGR of 40.22% from 2025 to 2035. The market is driven by rising demand for mobile broadband services and the growing application of IoT. The COVID-19 pandemic has influenced the rollout, with increased reliance on digital tools and telecommunications services. The Asia-Pacific region is expected to hold the largest market share, supported by significant investments and favorable government policies.

    Key Market Trends & Highlights

    Key trends shaping the 5G Technology Market include advancements in mobile broadband and infrastructure.

    • 5G Technology Market Size in 2024: USD 243.20 billion.
    • Projected Market Size by 2035: USD 10020.32 billion.
    • CAGR from 2025 to 2035: 40.22%.
    • Asia-Pacific expected to dominate market share due to advanced 5G marketplaces.

    Market Size & Forecast

    2024 Market Size USD 243.20 billion
    2035 Market Size USD 10020.32 Billion
    CAGR (2024-2035) 40.22%
    2024 Projected Market Size USD 243.2 billion

    Major Players

    Key Companies include AT&T, BT Group, China Mobile, Verizon, Huawei, Qualcomm, Cisco, and Samsung.

    5G Technology Market Trends

    Rising Demand For Mobile Broadband Services

    With the emergence of 5G, mobile bandwidth is expected to expand, ushering in a new era of immersive experience and connectivity. The next generation of mobile broadband, 5G, is expected to augment 4G LTE connection and offer faster download and upload speeds. The race for rolling out 5G wireless service is not limited to mobile devices but also includes home broadband services.

    Mobile broadband is a solution for business travelers who spend a lot of time commuting and for people who live in temporary accommodation for a few days or months who may not want to spend on expensive yearly home-based Internet connections. Moreover, 5G technology in mobile broadband services is expected to use high-frequency bands which would have a wider spectrum and higher traffic capacity and faster download speeds than LTE.

    Furthermore, as emerging markets are realizing the social benefits of advanced technologies, many nations are developing broadband plans from a strategic perspective to speed up the deployment of fixed and mobile broadband infrastructure.

    The ongoing expansion of 5G technology is poised to revolutionize various sectors, enhancing connectivity and enabling innovative applications that were previously unattainable.

    Federal Communications Commission (FCC)

    5G Technology Market Drivers

    Market Growth Projections

    The Global 5G Technology Market Industry is projected to experience remarkable growth, with estimates indicating a market value of 10031.0 USD Billion by 2035. This growth trajectory is underpinned by a compound annual growth rate (CAGR) of 40.23% from 2025 to 2035. Such projections highlight the increasing reliance on 5G technology across various sectors, including telecommunications, healthcare, and transportation. As more industries adopt 5G solutions, the market is expected to expand significantly, driven by innovations and advancements in technology. The anticipated growth reflects the transformative potential of 5G in reshaping how businesses and consumers interact with technology.

    Government Initiatives and Support

    The Global 5G Technology Market Industry is bolstered by government initiatives and support aimed at accelerating the deployment of 5G networks. Many governments are recognizing the strategic importance of 5G for economic growth and competitiveness. They are implementing policies that promote investment in telecommunications infrastructure and provide funding for research and development. For example, various countries have established regulatory frameworks to facilitate spectrum allocation for 5G services. This supportive environment is likely to encourage private sector participation, leading to faster network rollouts and increased market penetration, ultimately contributing to the overall growth of the industry.

    Increased Adoption of Smart Cities

    The Global 5G Technology Market Industry is significantly influenced by the increased adoption of smart city initiatives worldwide. Cities are leveraging 5G technology to enhance urban living through improved public services, traffic management, and energy efficiency. For example, smart traffic systems powered by 5G can optimize traffic flow and reduce congestion, leading to lower emissions. As urban populations continue to grow, the demand for smart city solutions is expected to rise, further driving the need for 5G infrastructure. This trend not only supports sustainability goals but also positions cities to attract investments, thereby contributing to the overall market growth.

    Rising Demand for High-Speed Connectivity

    The Global 5G Technology Market Industry is experiencing a surge in demand for high-speed connectivity, driven by the proliferation of smart devices and the Internet of Things. As of 2024, the market is valued at approximately 243.2 USD Billion, reflecting a growing reliance on fast and reliable internet services. This demand is not only evident in urban areas but also in rural regions, where enhanced connectivity can bridge the digital divide. The increasing number of connected devices, projected to reach billions by 2035, further underscores the necessity for robust 5G infrastructure to support seamless communication and data transfer.

    Emergence of New Applications and Services

    The Global 5G Technology Market Industry is witnessing the emergence of new applications and services that capitalize on the capabilities of 5G technology. Industries such as healthcare, automotive, and entertainment are exploring innovative solutions that require high-speed, low-latency connections. For instance, telemedicine applications are becoming more prevalent, allowing for remote consultations and real-time monitoring of patients. Additionally, the automotive sector is advancing towards autonomous vehicles, which rely on 5G for vehicle-to-everything communication. As these applications gain traction, they are expected to drive substantial growth in the market, with projections indicating a market value of 10031.0 USD Billion by 2035.

    Advancements in Telecommunications Infrastructure

    The Global 5G Technology Market Industry benefits from significant advancements in telecommunications infrastructure, which facilitate the deployment of 5G networks. Governments and private entities are investing heavily in upgrading existing infrastructure to accommodate the new technology. This transition is expected to enhance network capacity and reduce latency, thereby improving user experience. For instance, initiatives to install small cells and fiber optic networks are underway globally, enabling faster rollout of 5G services. As these advancements continue, the market is likely to expand rapidly, with a projected CAGR of 40.23% from 2025 to 2035, indicating a robust growth trajectory.

    Market Segment Insights

    5G Technology Component Insights

    The 5G Technology market segmentation, based on Component, includes Hardware, Software, and Services. 5G technology has gained significant prominence across the globe; therefore, infrastructure equipment/hardware demand is growing exponentially. Software solutions are used by communication providers to full potential 5G standalone services to the end-users. With the introduction of standalone 5G networks, the demand for software has grown significantly across the globe. The 5G infrastructure providers offer several services to the communication providers/MNOs to deploy 5G infrastructure. These services can be categorized into professional services and managed services.

    November 2020: Huawei released its new 5GtoB Suite Solution to power the operator industry network services. 5GtoB Suite provides industry networks with intelligent and precise planning, simplified on-demand provisioning, and proactive network O&M to plan, construct, maintain, and optimize ToB networks. Its implementation will further the momentum and impact of 5G wireless network services in the operator industry.

    February 2020: Huawei launched new 5G products and solutions at the product and solution launch in London. The company also launched its 5G partner innovation program to build a thriving 5G ecosystem to make 5G a commercial success. The product launch included Huawei’s Blade AAU, which can work under all sub-6 GHz frequency bands and support 2G, 3G, 4G, and 5G networks.

    5G Technology Insights

    Based on Technology, the Enhanced Mobile Broadband [eMBB] segment accounted for the largest market share. eMBB enables significant improvements in connection speeds, supporting speeds 10 to 20 times faster than today's 4G. Whereas, URLLC provides high reliability and low latency, cutting the time needed to send a signal and receive a response to 10 milliseconds or less. Commonly known as mission-critical services (MCS), this 5G feature offers a highly available and reliable network. Furthermore, massive machine type communication [MMTC] is expected to register a highest CAGR.

    5G Technology Spectrum Insights

    Based on the spectrum, the market has been classified into 5G NR Sub-6GHz and 5G NR mmWave. 5G NR Sub-6GHz holds an exponential share within the 5G technology market. This can be attributed to the difficulties associated with mmWave means standards organizations and mobile operators are continuing to rely heavily on the sub-6 GHz spectrum. Moreover, 5G NR mmWave segment holds a comparatively smaller share within the 5G technology market. However, the segment is expected to exhibit the fastest CAGR rate during the projected period.

    Since it likely takes one to two years or more to be developed and to harmonize the availability of the new spectrum bands.

    5G Technology Application Insights

    Based on the application, the market has been segmented into consumer and enterprises. 5G technology for the consumer segment is expected to exhibit the fastest CAGR rate during the projected period. There are several digital services through which communication service providers are earning revenue. Enhanced video, augmented reality & virtual reality, cloud gaming, digital advertising, M-commerce, consumer IoT, music, in-venue digital services, live sports streaming, and mobile gaming, among other services. Enterprise's segment is the most lucrative segment for the 5G technology market.

    This is because the most substantial value of 5G will not come from connecting people but from its ability to provide seamless connectivity to machines, infrastructures, and things.

    Get more detailed insights about 5G Technology Market

    Regional Insights

    By Region, the study segments the market into North America, Europe, Asia-Pacific, Middle East & Africa, and South America. Asia-Pacific is expected to hold largest market share in 2021. Asia-Pacific is home to some of the world's most advanced 5G marketplaces, including Australia, China, Japan, Malaysia, Singapore, and South Korea, all striving to be 5G leaders. By 2025, telecom providers in Asia-Pacific hope to add 663 billion new mobile internet customers. This rise in connection is assisting the mobile sector to have a greater influence on all UN SDGs.

    Countries such as China, Japan, South Korea, and Taiwan are leaders in the 5G network infrastructure. For instance, South Korea successfully demonstrated the technology at the Winter Olympics in South Korea in the recent past, where 5G was used to stream real-time, 360-degree videos of athletes in action. The 5G technology market in Asia-Pacific is also expected to flourish due to huge investments and favorable government policies encouraging the growth of this industry.

    Furthermore, the 5G technology market growth in North America is fuelled by the rising demand for 5G-enabled consumer electronic devices such as smartphones, tablets, and AR/VR devices. The presence of key players such as Cisco, Qualcomm, and Verizon investing heavily in the development of the 5G technology is also responsible for the tremendous growth of the 5G technology in this region. By the conclusion of Q3 2020, North America had 3.4 billion 5G connections and over half a billion LTE connections.

    This amounts to a 47 percent quarterly increase in 5G in the area, with over 1 billion new 5G connections added during the quarter. It also marks a 3% increase in LTE connections, a gain of 14 billion over the quarter, as LTE continues to extend its long tail of growth.

    FIGURE 3: 5G TECHNOLOGY MARKET SHARE BY REGION 2021 (%)

    5G TECHNOLOGY MARKET SHARE BY REGION 2021

    Source: Secondary Research, Primary Research, Market Research Future Database and Analyst Review

    Key Players and Competitive Insights

    The 5G technology industry is extremely competitive due to the existence of 5G infrastructure equipment, software and service providers, and communication service providers. The growth of market players depends on market conditions, favorable government regulations, and industry development. The increasing demand for mobile broadband services, growing application of IoT, and rising demand for connected cars and machine-to-machine communication are some of the factors expected to fuel the market's growth. Thus, players are focusing on research and development to maintain their positions in the market.

    Major market players are spending a lot of money on R&D to increase their product lines, which will help the 5G Technology market grow even more. Market participants are also taking a range of strategic initiatives to grow their worldwide footprint, including new service launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations. Competitors in the 5G Technology industry must offer cost-effective items to expand and survive in an increasingly competitive and rising market environment.

    Key Companies in the 5G Technology Market market include

    Industry Developments

    • In June 2023, AT&T Inc. and Cisco Systems Inc. agreed on a strategic cooperation framework that would help enterprises further increase connectivity in order to support the growing workforce that is increasingly mobile-dependent. These companies are also looking forward to complementing their SD-WAN connectivity with other offerings, such as 5G and broadband so that the experience is optimized and seamless for businesses of all sizes.
    • In June 2023, Vodafone UK merged with Three UK to create one of Europe’s best 5G network service with reliability integrative factors such as great coverage and massive data downloads.
    • In June 2023, T-Mobile USA Inc. and the City of Bellevue collaborated to introduce a network-based C-V2X technology. The cellular technology, together with T-Mobile’s 5G network, will facilitate communication among traffic infrastructure, at-risk road users and other motorists in real-time.
    • BT Group Plc Collaboration with Lyca Mobile on June 2023 provided customers of Lyca with affordable 4G and 5G radio access network control.
    • In April 2023, Deutsche Telekom AG entered into cooperation with Amazon Web Services, a company that provides cloud computing platforms. This cooperation is in the scope of the Integrated Private Wireless on AWS program, which aims at integrating AWS services and private wireless solutions based on LTE and 5G technologies from the Deutsche Telekom AG campus network portfolio.
    • In April 2023, AT&T, Inc. came up with plans to enhance the 5G standalone technology service by adding MIMO, along with carrier aggregation techniques, in order to bestow higher data rates and better quality of the signal, in addition to service as a whole.
    • In March 2023, SK Telecom Co., Ltd. announced a cooperative effort with Dell Technologies regarding the commercial rollout of a 5G mobile edge computing (MEC) architecture. It is MEC that is expected to underlie such core capabilities of 5G services as immersive media, autonomous driving, and smart factories.
    • In March 2023, Bharti Airtel Ltd. Unveiled unlimited 5G data services, saying that the aim is aimed at enabling customers to see for themselves the benefits and the immense capability of the Airtel 5G Plus network service.
    • In February 2023, Saudi Telecom Company entered into an agreement with SKYFive Arabia in order to provide broadband inflight connectivity in Saudi airlines and the MENA area. The aim is to provide a strong 5G internet connection between international and domestic flights.
    • NTT Docomo, in February 2023, created a RAN Intelligent Controller with the purpose of facilitating multivendor compatibility of open radio access networks in this age of 5G service.

    Future Outlook

    5G Technology Market Future Outlook

    The Global 5G Technology Market is projected to grow at a 40.22% CAGR from 2025 to 2035, driven by increased demand for high-speed connectivity and IoT applications.

    New opportunities lie in:

    • Develop innovative 5G-enabled smart city solutions to enhance urban infrastructure efficiency. Invest in advanced network slicing technologies for tailored enterprise solutions. Create strategic partnerships with automotive companies for 5G-driven autonomous vehicle systems.

    By 2035, the 5G Technology Market is poised to be a cornerstone of global connectivity and innovation.

    Market Segmentation

    5G Technology Outlook

    • Enhanced Mobile Broadband [eMBB]
    • Ultra-Reliable Low Latency Communication [URLLC]
    • Massive Machine Type Communication [mMTC])

    5G Technology Regional Outlook

    • {"North America"=>["US"
    • "Canada"
    • "Mexico"]}
    • {"Europe"=>["Germany"
    • "France"
    • "UK"
    • "Rest of Europe"]}
    • {"Asia-Pacific"=>["China"
    • "Japan"
    • "India"
    • "Rest of Asia-Pacific"]}
    • {"Intended Audience"=>["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."
    • "Verizon Communications
    • Inc."
    • "T-Mobile USA
    • Inc."
    • "Rakuten Mobile Inc."
    • "Telefonaktiebolaget LM Ericsson"
    • "Huawei Technologies Co. Ltd."
    • "Qualcomm Technologies Inc."
    • "Cisco Systems Inc."
    • "MediaTek Inc."
    • "Samsung Electronics Co. Ltd."
    • "In June 2023
    • AT&T Inc. and Cisco Systems Inc. agreed on a strategic cooperation framework that would help enterprises further increase connectivity in order to support the growing workforce that is increasingly mobile-dependent. These companies are also looking forward to complementing their SD-WAN connectivity with other offerings
    • such as 5G and broadband so that the experience is optimized and seamless for businesses of all sizes."
    • "In June 2023
    • Vodafone UK merged with Three UK to create one of Europe’s best 5G network service with reliability integrative factors such as great coverage and massive data downloads."
    • "In June 2023
    • T-Mobile USA Inc. and the City of Bellevue collaborated to introduce a network-based C-V2X technology. The cellular technology
    • together with T-Mobile’s 5G network
    • will facilitate communication among traffic infrastructure
    • at-risk road users and other motorists in real-time."
    • "BT Group Plc Collaboration with Lyca Mobile on June 2023 provided customers of Lyca with affordable 4G and 5G radio access network control."
    • "In April 2023
    • Deutsche Telekom AG entered into cooperation with Amazon Web Services
    • a company that provides cloud computing platforms. This cooperation is in the scope of the Integrated Private Wireless on AWS program
    • which aims at integrating AWS services and private wireless solutions based on LTE and 5G technologies from the Deutsche Telekom AG campus network portfolio."
    • "In April 2023
    • AT&T
    • Inc. came up with plans to enhance the 5G standalone technology service by adding MIMO
    • along with carrier aggregation techniques
    • in order to bestow higher data rates and better quality of the signal
    • in addition to service as a whole."
    • "In March 2023
    • SK Telecom Co.
    • Ltd. announced a cooperative effort with Dell Technologies regarding the commercial rollout of a 5G mobile edge computing (MEC) architecture. It is MEC that is expected to underlie such core capabilities of 5G services as immersive media
    • autonomous driving
    • and smart factories."
    • "In March 2023
    • Bharti Airtel Ltd. Unveiled unlimited 5G data services
    • saying that the aim is aimed at enabling customers to see for themselves the benefits and the immense capability of the Airtel 5G Plus network service."
    • "In February 2023
    • Saudi Telecom Company entered into an agreement with SKYFive Arabia in order to provide broadband inflight connectivity in Saudi airlines and the MENA area. The aim is to provide a strong 5G internet connection between international and domestic flights."
    • "NTT Docomo
    • in February 2023
    • created a RAN Intelligent Controller with the purpose of facilitating multivendor compatibility of open radio access networks in this age of 5G service."
    • "Hardware"
    • "Software"
    • "Services"
    • "Enhanced Mobile Broadband [eMBB]"
    • "Ultra-Reliable Low Latency Communication [URLLC]"
    • "Massive Machine Type Communication [mMTC])"
    • "5G NR Sub-6GHz"
    • "5G NR mmWave"
    • "Consumer"
    • "Enterprises"
    • "US"
    • "Canada"
    • "Mexico"
    • "Germany"
    • "France"
    • "UK"
    • "Rest of Europe"
    • "China"
    • "Japan"
    • "India"
    • "Rest of Asia-Pacific"
    • "Middle East & Africa"
    • "South America"
    • "Technology Investors"
    • "Regulatory Industries"
    • "Government Bodies"
    • "Gaming Industry"
    • "IoT Industry"]}

    5G Technology Spectrum Outlook

    • 5G NR Sub-6GHz
    • 5G NR mmWave

    5G Technology Component Outlook

    • Hardware
    • Software
    • Services

    5G Technology Application Outlook

    • Consumer
    • Enterprises

    Report Scope

    Attribute/MetricDetails
    Market Size 2024USD 243.2 billion
    Market Size 203510020.32
    Compound Annual Growth Rate (CAGR)40.22% (2025 - 2035)
    Base Year2024
    Forecast Period2025 - 2035
    Historical Data2018-2020
    Forecast UnitsValue (USD Billion)
    Report CoverageRevenue Forecast, Competitive Landscape, Growth Factors, and Trends
    Segments CoveredComponent, Technology, Spectrum, Application and Region
    Geographies CoveredNorth America, Europe, Asia Pacific, Middle East & Africa, and South America
    Countries CoveredThe U.S, Canada, Mexico, Germany, France, UK, China, Japan, India, Australia, South Korea, UAE, and Brazil
    Key Companies ProfiledAT&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., Verizon Communications, Inc., T-Mobile USA, Inc., Rakuten Mobile Inc., Telefonaktiebolaget LM Ericsson, Huawei Technologies Co. Ltd., Qualcomm Technologies Inc., Cisco Systems Inc., MediaTek Inc., and Samsung Electronics Co. Ltd.
    Key Market OpportunitiesIncreasing demand for connected cars and machine-to-machine communication Growing benefits of 5G for businesses
    Key Market DynamicsRising demand for mobile broadband services Growing application of IOT
    Market Size 2025341.02

    Market Highlights

    Author
    Shubham Munde
    Research Analyst Level II

    With a technical background in information technology & semiconductors, Shubham has 4.5+ years of experience in market research and analytics with the tasks of data mining, analysis, and project execution. He is the POC for our clients, for their consulting projects running under the ICT/Semiconductor domain. Shubham holds a Bachelor’s in Information and Technology and a Master of Business Administration (MBA). Shubham has executed over 150 research projects for our clients under the brand name Market Research Future in the last 2 years. His core skill is building the research respondent relation for gathering the primary information from industry and market estimation for niche markets. He is having expertise in conducting secondary & primary research, market estimations, market projections, competitive analysis, analysing current market trends and market dynamics, deep-dive analysis on market scenarios, consumer behaviour, technological impact analysis, consulting, analytics, etc. He has worked on fortune 500 companies' syndicate and consulting projects along with several government projects. He has worked on the projects of top tech brands such as IBM, Google, Microsoft, AWS, Meta, Oracle, Cisco Systems, Samsung, Accenture, VMware, Schneider Electric, Dell, HP, Ericsson, and so many others. He has worked on Metaverse, Web 3.0, Zero-Trust security, cyber-security, blockchain, quantum computing, robotics, 5G technology, High-Performance computing, data centers, AI, automation, IT equipment, sensors, semiconductors, consumer electronics and so many tech domain projects.

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    FAQs

    How much is the 5G Technology market?

    The 5G Technology market will be valued at USD 171.7 Billion in 2023.

    What is the market size for 2030, for the 5G Technology market?

    The 5G Technology market has been expanding quickly over the past few decades, and by 2032, it is estimated to reach USD 3640.0 Billion.

    What is the growth rate of the 5G Technology market?

    At 40.2%% CAGR is expected to transform the market.

    Which region held the largest market share in the 5G Technology market?

    The Asia-Pacific regional market is projected to be the major driver of the market.

    Who are the prominent players in the 5G Technology market?

    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., Verizon Communications, Inc., T-Mobile USA, Inc., Rakuten Mobile Inc., Telefonaktiebolaget LM Ericsson, Huawei Technologies Co. Ltd., Qualcomm Technologies Inc., Cisco Systems Inc., MediaTek Inc., and Samsung Electronics Co. Ltd.

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