Product Code: TIPTE100000353
The 5G services market size was valued at US$ 86.22 billion in 2023 and is expected to reach US$ 3244.40 billion by 2031; it is estimated to record a CAGR of 57.4% from 2023 to 2031.
The 5G services market is segmented into five major regions-North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America. Asia Pacific dominated the market in 2023, followed by North America and Europe, respectively. Asia Pacific is an early adopter of 5G, with countries such as South Korea, Taiwan, Japan, and China seeming to be ahead in the 5G wave. Other countries, including India, Indonesia, and Vietnam, are developing significantly. According to the GSMA survey, Asia Pacific mobile providers plan to invest US$ 227 billion in 5G installations from 2022 to 2025. New networks enable innovative consumer services, alter business and production, and boost economic growth. China is now the world's largest 5G market, with an anticipated 1.5 billion 5G subscribers were in 2023, which is expected to rise to 3.3 billion by the end of 2028, driven by investments and legislative measures to build 5G networks and increase the adoption of 5G. In March 2023, China's MIIT said that it would construct 2.9 million 5G base stations by 2023 and 3.6 million by 2025 to boost 5G coverage to rural regions and industrial parks. This is due to the key 5G service providers operating in the region, such as Nokia Corporation (Finland); Samsung Electronics Co., Ltd. (South Korea); LG Electronics Inc. (South Korea); and Huawei Investment & Holding Co., Ltd (China).
In terms of end user, the 5G services market is segmented into enterprises and consumers. The enterprises segment held the largest 5G services market share. Constant technological advancements supports the adoption of 5G technology by companies operating in IT & telecom, manufacturing, healthcare, BFSI, retail & e-commerce, and other industries. 5G's lower latency and higher bandwidth will allow organizations to manage more devices and apps at the same time. This allows for faster and more effective data transfer, leading to improved productivity and better customer experiences.
With the help of 5G technology, customers were able to download large files in a short time, play online games with less latency, and stream high-quality videos with minimal buffering. Customers will also benefit from 5G in the fields of virtual reality (VR) and augmented reality (AR). Higher bandwidth applications such as 4K and 8K streaming or 360-degree video will enable high-quality, immersive experiences at real-time speeds for consumers using 5G. With the advent of 5G, consumers increasingly focused on improving various sectors such as travel, media & entertainment, home security, and automation.
Verizon Communications Inc, Huawei Technologies Co Ltd, Telefonaktiebolaget LM Ericsson, Nokia Corp, Samsung Electronics Co Ltd, ZTE Cop, Vodafone Group Plc, Orange SA, Deutsche Telekom AG, and China Mobile Limited are among the key 5G services market players that are profiled in this market study.
The overall 5G services market size has been derived using both primary and secondary sources. Exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the 5G services market size. The process also helps obtain an overview and forecast of the market with respect to all the market segments. Also, multiple primary interviews have been conducted with industry participants to validate the data and gain analytical insights. This process includes industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the 5G services market.
Table Of Contents
1. Introduction
- 1.1 The Insight Partners Research Report Guidance
- 1.2 Market Segmentation
2. Executive Summary
- 2.1 Key Insights
- 2.2 Market Attractiveness
3. Research Methodology
- 3.1 Secondary Research
- 3.2 Primary Research
- 3.2.1 Hypothesis formulation:
- 3.2.2 Macro-economic factor analysis:
- 3.2.3 Developing base number:
- 3.2.4 Data Triangulation:
- 3.2.5 Country level data:
4. 5G Services Market Landscape
- 4.1 Overview
- 4.2 PEST Analysis
- 4.3 Ecosystem Analysis
- 4.3.1 List of Vendors in Value Chain
5. 5G Services Market - Key Market Dynamics
- 5.1 5G Services Market - Key Market Dynamics
- 5.2 Market Drivers
- 5.2.1 Increasing Number of 5G Subscribers
- 5.2.2 Rising Government Initiatives to Promote Deployment of 5G
- 5.3 Market Restraints
- 5.4 Market Opportunities
- 5.4.1 Increase in Adoption of IoT Devices
- 5.4.2 Digital Transformation
- 5.5 Trends
- 5.5.1 Standalone 5G Network Infrastructure
- 5.6 Impact of Drivers and Restraints:
6. 5G Services Market - Global Market Analysis
- 6.1 5G Services Market Revenue (US$ Million), 2021-2031
- 6.2 5G Services Market Forecast Analysis
7. 5G Services Market Analysis - by Type
- 7.1 Enhanced Mobile Broadband (eMBB)
- 7.1.1 Overview
- 7.1.2 Enhanced Mobile Broadband (eMBB): 5G Services Market - Revenue and Forecast to 2031 (US$ Million)
- 7.2 Massive Machine-Type Communications (mMTC)
- 7.2.1 Overview
- 7.2.2 Massive Machine-Type Communications (mMTC): 5G Services Market - Revenue and Forecast to 2031 (US$ Million)
- 7.3 Ultra-Reliable Low Latency (uRLLC)
- 7.3.1 Overview
- 7.3.2 Ultra-Reliable Low Latency (uRLLC): 5G Services Market - Revenue and Forecast to 2031 (US$ Million)
- 7.4 Fixed Wireless Access (FWA)
- 7.4.1 Overview
- 7.4.2 Fixed Wireless Access (FWA): 5G Services Market - Revenue and Forecast to 2031 (US$ Million)
8. 5G Services Market Analysis - by End User
- 8.1 Enterprises
- 8.1.1 Overview
- 8.1.2 Enterprises: 5G Services Market - Revenue and Forecast to 2031 (US$ Million)
- 8.1.3 IT and Telecom
- 8.1.3.1 Overview
- 8.1.3.2 IT and Telecom: 5G Services Market - Revenue and Forecast to 2031 (US$ Million)
- 8.1.4 Manufacturing
- 8.1.4.1 Overview
- 8.1.4.2 Manufacturing: 5G Services Market - Revenue and Forecast to 2031 (US$ Million)
- 8.1.5 Healthcare
- 8.1.5.1 Overview
- 8.1.5.2 Healthcare: 5G Services Market - Revenue and Forecast to 2031 (US$ Million)
- 8.1.6 BFSI
- 8.1.6.1 Overview
- 8.1.6.2 BFSI: 5G Services Market - Revenue and Forecast to 2031 (US$ Million)
- 8.1.7 Retail & Ecommerce
- 8.1.7.1 Overview
- 8.1.7.2 Retail & Ecommerce: 5G Services Market - Revenue and Forecast to 2031 (US$ Million)
- 8.1.8 Others
- 8.1.8.1 Overview
- 8.1.8.2 Others: 5G Services Market - Revenue and Forecast to 2031 (US$ Million)
- 8.2 Consumers
- 8.2.1 Overview
- 8.2.2 Consumers: 5G Services Market - Revenue and Forecast to 2031 (US$ Million)
9. 5G Services Market - Geographical Analysis
- 9.1 Overview
- 9.2 North America
- 9.2.1 North America 5G Services Market Overview
- 9.2.2 North America: 5G Services Market - Revenue and Forecast to 2031 (US$ Million)
- 9.2.3 North America: 5G Services Market Breakdown, by Type
- 9.2.3.1 North America: 5G Services Market - Revenue and Forecast Analysis - by Type
- 9.2.4 North America: 5G Services Market Breakdown, by End User
- 9.2.4.1 North America: 5G Services Market - Revenue and Forecast Analysis - by End User
- 9.2.5 North America: 5G Services Market Breakdown, by Enterprises
- 9.2.5.1 North America: 5G Services Market - Revenue and Forecast Analysis - by Enterprises
- 9.2.6 North America: 5G Services Market - Revenue and Forecast Analysis - by Country
- 9.2.6.1 North America: 5G Services Market - Revenue and Forecast Analysis - by Country
- 9.2.6.2 United States: 5G Services Market - Revenue and Forecast to 2031 (US$ Million)
- 9.2.6.2.1 United States: 5G Services Market Breakdown, by Type
- 9.2.6.2.2 United States: 5G Services Market Breakdown, by End User
- 9.2.6.2.3 United States: 5G Services Market Breakdown, by Enterprises
- 9.2.6.3 Canada: 5G Services Market - Revenue and Forecast to 2031 (US$ Million)
- 9.2.6.3.1 Canada: 5G Services Market Breakdown, by Type
- 9.2.6.3.2 Canada: 5G Services Market Breakdown, by End User
- 9.2.6.3.3 Canada: 5G Services Market Breakdown, by Enterprises
- 9.2.6.4 Mexico: 5G Services Market - Revenue and Forecast to 2031 (US$ Million)
- 9.2.6.4.1 Mexico: 5G Services Market Breakdown, by Type
- 9.2.6.4.2 Mexico: 5G Services Market Breakdown, by End User
- 9.2.6.4.3 Mexico: 5G Services Market Breakdown, by Enterprises
- 9.3 Europe
- 9.3.1 Europe 5G Services Market Overview
- 9.3.2 Europe: 5G Services Market - Revenue and Forecast to 2031 (US$ Million)
- 9.3.3 Europe: 5G Services Market Breakdown, by Type
- 9.3.3.1 Europe: 5G Services Market - Revenue and Forecast Analysis - by Type
- 9.3.4 Europe: 5G Services Market Breakdown, by End User
- 9.3.4.1 Europe: 5G Services Market - Revenue and Forecast Analysis - by End User
- 9.3.5 Europe: 5G Services Market Breakdown, by Enterprises
- 9.3.5.1 Europe: 5G Services Market - Revenue and Forecast Analysis - by Enterprises
- 9.3.6 Europe: 5G Services Market - Revenue and Forecast Analysis - by Country
- 9.3.6.1 Europe: 5G Services Market - Revenue and Forecast Analysis - by Country
- 9.3.6.2 Germany: 5G Services Market - Revenue and Forecast to 2031 (US$ Million)
- 9.3.6.2.1 Germany: 5G Services Market Breakdown, by Type
- 9.3.6.2.2 Germany: 5G Services Market Breakdown, by End User
- 9.3.6.2.3 Germany: 5G Services Market Breakdown, by Enterprises
- 9.3.6.3 United Kingdom: 5G Services Market - Revenue and Forecast to 2031 (US$ Million)
- 9.3.6.3.1 United Kingdom: 5G Services Market Breakdown, by Type
- 9.3.6.3.2 United Kingdom: 5G Services Market Breakdown, by End User
- 9.3.6.3.3 United Kingdom: 5G Services Market Breakdown, by Enterprises
- 9.3.6.4 France: 5G Services Market - Revenue and Forecast to 2031 (US$ Million)
- 9.3.6.4.1 France: 5G Services Market Breakdown, by Type
- 9.3.6.4.2 France: 5G Services Market Breakdown, by End User
- 9.3.6.4.3 France: 5G Services Market Breakdown, by Enterprises
- 9.3.6.5 Italy: 5G Services Market - Revenue and Forecast to 2031 (US$ Million)
- 9.3.6.5.1 Italy: 5G Services Market Breakdown, by Type
- 9.3.6.5.2 Italy: 5G Services Market Breakdown, by End User
- 9.3.6.5.3 Italy: 5G Services Market Breakdown, by Enterprises
- 9.3.6.6 Russia: 5G Services Market - Revenue and Forecast to 2031 (US$ Million)
- 9.3.6.6.1 Russia: 5G Services Market Breakdown, by Type
- 9.3.6.6.2 Russia: 5G Services Market Breakdown, by End User
- 9.3.6.6.3 Russia: 5G Services Market Breakdown, by Enterprises
- 9.3.6.7 Rest of Europe: 5G Services Market - Revenue and Forecast to 2031 (US$ Million)
- 9.3.6.7.1 Rest of Europe: 5G Services Market Breakdown, by Type
- 9.3.6.7.2 Rest of Europe: 5G Services Market Breakdown, by End User
- 9.3.6.7.3 Rest of Europe: 5G Services Market Breakdown, by Enterprises
- 9.4 Asia Pacific
- 9.4.1 Asia Pacific 5G Services Market Overview
- 9.4.2 Asia Pacific: 5G Services Market - Revenue and Forecast to 2031 (US$ Million)
- 9.4.3 Asia Pacific: 5G Services Market Breakdown, by Type
- 9.4.3.1 Asia Pacific: 5G Services Market - Revenue and Forecast Analysis - by Type
- 9.4.4 Asia Pacific: 5G Services Market Breakdown, by End User
- 9.4.4.1 Asia Pacific: 5G Services Market - Revenue and Forecast Analysis - by End User
- 9.4.5 Asia Pacific: 5G Services Market Breakdown, by Enterprises
- 9.4.5.1 Asia Pacific: 5G Services Market - Revenue and Forecast Analysis - by Enterprises
- 9.4.6 Asia Pacific: 5G Services Market - Revenue and Forecast Analysis - by Country
- 9.4.6.1 Asia Pacific: 5G Services Market - Revenue and Forecast Analysis - by Country
- 9.4.6.2 China: 5G Services Market - Revenue and Forecast to 2031 (US$ Million)
- 9.4.6.2.1 China: 5G Services Market Breakdown, by Type
- 9.4.6.2.2 China: 5G Services Market Breakdown, by End User
- 9.4.6.2.3 China: 5G Services Market Breakdown, by Enterprises
- 9.4.6.3 Japan: 5G Services Market - Revenue and Forecast to 2031 (US$ Million)
- 9.4.6.3.1 Japan: 5G Services Market Breakdown, by Type
- 9.4.6.3.2 Japan: 5G Services Market Breakdown, by End User
- 9.4.6.3.3 Japan: 5G Services Market Breakdown, by Enterprises
- 9.4.6.4 South Korea: 5G Services Market - Revenue and Forecast to 2031 (US$ Million)
- 9.4.6.4.1 South Korea: 5G Services Market Breakdown, by Type
- 9.4.6.4.2 South Korea: 5G Services Market Breakdown, by End User
- 9.4.6.4.3 South Korea: 5G Services Market Breakdown, by Enterprises
- 9.4.6.5 India: 5G Services Market - Revenue and Forecast to 2031 (US$ Million)
- 9.4.6.5.1 India: 5G Services Market Breakdown, by Type
- 9.4.6.5.2 India: 5G Services Market Breakdown, by End User
- 9.4.6.5.3 India: 5G Services Market Breakdown, by Enterprises
- 9.4.6.6 Australia: 5G Services Market - Revenue and Forecast to 2031 (US$ Million)
- 9.4.6.6.1 Australia: 5G Services Market Breakdown, by Type
- 9.4.6.6.2 Australia: 5G Services Market Breakdown, by End User
- 9.4.6.6.3 Australia: 5G Services Market Breakdown, by Enterprises
- 9.4.6.7 Rest of APAC: 5G Services Market - Revenue and Forecast to 2031 (US$ Million)
- 9.4.6.7.1 Rest of APAC: 5G Services Market Breakdown, by Type
- 9.4.6.7.2 Rest of APAC: 5G Services Market Breakdown, by End User
- 9.4.6.7.3 Rest of APAC: 5G Services Market Breakdown, by Enterprises
- 9.5 Middle East and Africa
- 9.5.1 Middle East and Africa 5G Services Market Overview
- 9.5.2 Middle East and Africa: 5G Services Market - Revenue and Forecast to 2031 (US$ Million)
- 9.5.3 Middle East and Africa: 5G Services Market Breakdown, by Type
- 9.5.3.1 Middle East and Africa: 5G Services Market - Revenue and Forecast Analysis - by Type
- 9.5.4 Middle East and Africa: 5G Services Market Breakdown, by End User
- 9.5.4.1 Middle East and Africa: 5G Services Market - Revenue and Forecast Analysis - by End User
- 9.5.5 Middle East and Africa: 5G Services Market Breakdown, by Enterprises
- 9.5.5.1 Middle East and Africa: 5G Services Market - Revenue and Forecast Analysis - by Enterprises
- 9.5.6 Middle East and Africa: 5G Services Market - Revenue and Forecast Analysis - by Country
- 9.5.6.1 Middle East and Africa: 5G Services Market - Revenue and Forecast Analysis - by Country
- 9.5.6.2 Saudi Arabia: 5G Services Market - Revenue and Forecast to 2031 (US$ Million)
- 9.5.6.2.1 Saudi Arabia: 5G Services Market Breakdown, by Type
- 9.5.6.2.2 Saudi Arabia: 5G Services Market Breakdown, by End User
- 9.5.6.2.3 Saudi Arabia: 5G Services Market Breakdown, by Enterprises
- 9.5.6.3 United Arab Emirates: 5G Services Market - Revenue and Forecast to 2031 (US$ Million)
- 9.5.6.3.1 United Arab Emirates: 5G Services Market Breakdown, by Type
- 9.5.6.3.2 United Arab Emirates: 5G Services Market Breakdown, by End User
- 9.5.6.3.3 United Arab Emirates: 5G Services Market Breakdown, by Enterprises
- 9.5.6.4 South Africa: 5G Services Market - Revenue and Forecast to 2031 (US$ Million)
- 9.5.6.4.1 South Africa: 5G Services Market Breakdown, by Type
- 9.5.6.4.2 South Africa: 5G Services Market Breakdown, by End User
- 9.5.6.4.3 South Africa: 5G Services Market Breakdown, by Enterprises
- 9.5.6.5 Rest of Middle East and Africa: 5G Services Market - Revenue and Forecast to 2031 (US$ Million)
- 9.5.6.5.1 Rest of Middle East and Africa: 5G Services Market Breakdown, by Type
- 9.5.6.5.2 Rest of Middle East and Africa: 5G Services Market Breakdown, by End User
- 9.5.6.5.3 Rest of Middle East and Africa: 5G Services Market Breakdown, by Enterprises
- 9.6 South and Central America
- 9.6.1 South and Central America 5G Services Market Overview
- 9.6.2 South and Central America: 5G Services Market - Revenue and Forecast to 2031 (US$ Million)
- 9.6.3 South and Central America: 5G Services Market Breakdown, by Type
- 9.6.3.1 South and Central America: 5G Services Market - Revenue and Forecast Analysis - by Type
- 9.6.4 South and Central America: 5G Services Market Breakdown, by End User
- 9.6.4.1 South and Central America: 5G Services Market - Revenue and Forecast Analysis - by End User
- 9.6.5 South and Central America: 5G Services Market Breakdown, by Enterprises
- 9.6.5.1 South and Central America: 5G Services Market - Revenue and Forecast Analysis - by Enterprises
- 9.6.6 South and Central America: 5G Services Market - Revenue and Forecast Analysis - by Country
- 9.6.6.1 South and Central America: 5G Services Market - Revenue and Forecast Analysis - by Country
- 9.6.6.2 Brazil: 5G Services Market - Revenue and Forecast to 2031 (US$ Million)
- 9.6.6.2.1 Brazil: 5G Services Market Breakdown, by Type
- 9.6.6.2.2 Brazil: 5G Services Market Breakdown, by End User
- 9.6.6.2.3 Brazil: 5G Services Market Breakdown, by Enterprises
- 9.6.6.3 Argentina: 5G Services Market - Revenue and Forecast to 2031 (US$ Million)
- 9.6.6.3.1 Argentina: 5G Services Market Breakdown, by Type
- 9.6.6.3.2 Argentina: 5G Services Market Breakdown, by End User
- 9.6.6.3.3 Argentina: 5G Services Market Breakdown, by Enterprises
- 9.6.6.4 Rest of South and Central America: 5G Services Market - Revenue and Forecast to 2031 (US$ Million)
- 9.6.6.4.1 Rest of South and Central America: 5G Services Market Breakdown, by Type
- 9.6.6.4.2 Rest of South and Central America: 5G Services Market Breakdown, by End User
- 9.6.6.4.3 Rest of South and Central America: 5G Services Market Breakdown, by Enterprises
10. Competitive Landscape
- 10.1 Heat Map Analysis by Key Players
- 10.2 Company Positioning & Concentration
11. Industry Landscape
- 11.1 Overview
- 11.2 Market Initiative
- 11.3 Product Development
- 11.4 Expansion
- 11.5 Partnerships and Collaboration
12. Company Profiles
- 12.1 Verizon Communications Inc
- 12.1.1 Key Facts
- 12.1.2 Business Description
- 12.1.3 Products and Services
- 12.1.4 Financial Overview
- 12.1.5 SWOT Analysis
- 12.1.6 Key Developments
- 12.2 Huawei Technologies Co Ltd
- 12.2.1 Key Facts
- 12.2.2 Business Description
- 12.2.3 Products and Services
- 12.2.4 Financial Overview
- 12.2.5 SWOT Analysis
- 12.2.6 Key Developments
- 12.3 Telefonaktiebolaget LM Ericsson
- 12.3.1 Key Facts
- 12.3.2 Business Description
- 12.3.3 Products and Services
- 12.3.4 Financial Overview
- 12.3.5 SWOT Analysis
- 12.3.6 Key Developments
- 12.4 Nokia Corp
- 12.4.1 Key Facts
- 12.4.2 Business Description
- 12.4.3 Products and Services
- 12.4.4 Financial Overview
- 12.4.5 SWOT Analysis
- 12.4.6 Key Developments
- 12.5 Samsung Electronics Co Ltd
- 12.5.1 Key Facts
- 12.5.2 Business Description
- 12.5.3 Products and Services
- 12.5.4 Financial Overview
- 12.5.5 SWOT Analysis
- 12.5.6 Key Developments
- 12.6 ZTE Corp
- 12.6.1 Key Facts
- 12.6.2 Business Description
- 12.6.3 Products and Services
- 12.6.4 Financial Overview
- 12.6.5 SWOT Analysis
- 12.6.6 Key Developments
- 12.7 Vodafone Group Plc
- 12.7.1 Key Facts
- 12.7.2 Business Description
- 12.7.3 Products and Services
- 12.7.4 Financial Overview
- 12.7.5 SWOT Analysis
- 12.7.6 Key Developments
- 12.8 Orange SA
- 12.8.1 Key Facts
- 12.8.2 Business Description
- 12.8.3 Products and Services
- 12.8.4 Financial Overview
- 12.8.5 SWOT Analysis
- 12.8.6 Key Developments
- 12.9 Deutsche Telekom AG
- 12.9.1 Key Facts
- 12.9.2 Business Description
- 12.9.3 Products and Services
- 12.9.4 Financial Overview
- 12.9.5 SWOT Analysis
- 12.9.6 Key Developments
- 12.10 China Mobile Limited
- 12.10.1 Key Facts
- 12.10.2 Business Description
- 12.10.3 Products and Services
- 12.10.4 Financial Overview
- 12.10.5 SWOT Analysis
- 12.10.6 Key Developments
13. Appendix
- 13.1 Word Index
- 13.2 About The Insight Partners