Global 5G Services Market Size, Share, Opportunities, And Trends By Band (Sub-6 GHz, MmWave), By Communication Type (FWA, EMBB, URLLC, MMTC), By Application (Manufacturing, Energy And Utilities, Residential/Individual User, Government, Transportation And Logistics, Healthcare, Others), And By Geography - Forecasts From 2024 To 2029

The 5G services market at US$227.887 billion in 2022.

The 5G service industry is expected to grow, owing to reasons such as rising telecommunication industry, and capabilities enabling the fifth-generation (5G) wireless technology. Moreover, 5G provides faster data speed, high network capacity, and lower latency which are one of the driving factors of growing 5G in the coming years.

Widespread adoption of 5G

According to the GSMA Mobile Economy Report 2023, the rising use of 5G is expected to deliver a huge potion in economic advancements across various industries. The services sector is expected to lead in taking the benefits of 5G, by accounting for 46% of the total, followed by the manufacturing sector coming close to closely at 33%. This growth is expected to drive by rising application of 5G in smart girds, smart cities, and smart factories, which is expected to be leverage by 5G in the projected period. Moreover, the rising IT and telecommunication industry is expected to provide boost to the 5G service industry in the coming years. According to the, International Trade Association, the United States software, and information technology industry is expected to account for US$1.9 trillion value-added to the GDP, which is more than 10% of the total GDP of the country, and creates more than 12.1 million jobs in the country.

Rise in data traffic and demand for high-speed data bandwidth

5G services market is expected to experience growth due to the rising demand for high-speed data connectivity driven by the surge in data traffic. Ensuring seamless user experiences now requires high-speed internet access, and the commercialization of 5G services is set to enable a wide range of anticipated applications. According to Ericsson, there was significant growth in mobile data traffic from 2021 to 2022. The data traffic per smartphone increased from 12.2 GB per month to 16 GB, highlighting the growing use of mobile devices for data-intensive activities. Similarly, data traffic per mobile PC and tablet also rose, from 17 GB to 20 GB and 9.5 GB to 11.2 GB per month, respectively. This trend reflects higher data consumption across various devices and technologies, underscoring the increasing demand for mobile data and the need for network providers to meet these evolving usage patterns.

Key players focus on product innovation in the 5G market

• In October 2022, Verizon transitioned consumer traffic to an innovative cloud-based, containerized core design, ensuring exceptional service agility, adaptability, and automated scalability. This significant development follows Verizon's extensive testing and user trials for the 5G core. The core's service-oriented architecture incorporates a range of components, including software programs, computational capabilities, networking, and storage.
• Similarly, in August 2023, Nokia announced that it had selected Cellfie Mobile (Cellfie) in an expansion deal to modernize the mobile operators country-wise and prepare the country for future 5G connections. The deal will cover the whole country, and will more Cellfie customers to experience 5G, a super-fast broadband connection in the coming years.

Government regulations in Canada

Through the release of a document, the Innovation, Science and Economic Development Canada (ISED), on behalf of the Minister of Innovation, Science and Economic Development Canada, announced the decision on a non-competitive local licensing framework, which included spectrum in the 3900-3980 MHz band as well as portions of the 26, 28, and 38 GHz bands.

ISED will be considering making certain band portions available for fixed, mobile, or flexible use services utilizing a non-competitive licensing framework for the local areas. ISED plans to establish an NCL licensing framework which can be applicable to multiple bands and will also be flexible to address the unique characteristics of each band. The NCL licensing enables the applicant to only apply for their specific area of interest, as opposed to the larger license areas pre-determined by the ISED.

It is projected that the 5G services market in the United States will grow steadily. 

During the forecast period, the dominant domestic 5G coverage compared to other major economies is one of the prominent factors in driving the overall 5G services market growth. For instance, according to a report by wireless trade association CTIA, showed that the United States is making thriving development towards 5G. The wireless standards are expected to contribute US$1.5 trillion in GDP, and is anticipated to create more than 4.5 million jobs in the coming decade.

Additionally, the USA invested approximately 1/5th or 19% of the total global mobile capex investment made in 2021. The major investments in the country for mobile capex is further aiding the 5G services demand. In addition, the collaborations leading to increased scope for availing 5G services in the country are further anticipated to raise the 5G services market share in the United States. For instance, in October 2023, T-Mobile USA, Inc., and Seattle University joined for leveraging the operator’s 5G network aiming at the improvement of digital equity for students as well as advanced outcomes. The university will be deploying several 5G projects and use cases leveraging 5G services facilitating security, and cell services among others.

Market Key Developments

• In June 2023, Lyca Mobile partnered with BT Wholesale to enhance connectivity, speed, and coverage for its customers. This partnership enables Lyca Mobile customers in the UK to directly access EE's 4G and 5G radio access network, with the potential for additional services like WiFi calling.
• In June 2023, T-Mobile USA Inc. collaborated with the City of Bellevue to jointly introduce a network-based Cellular Vehicle-to-Everything (C-V2X) technology, which, coupled with T-Mobile's 5G network, facilitates real-time communication between traffic infrastructure, vulnerable road users, and vehicles.
• In May 2022, Nokia Corporation announced the launch of 5G Advanced which will help in extending the 5G network reach to new devices, and new industries. The advanced 5G will help in improving uplink coverage first with initial connection setup with the help of more random access channel coverage, and will support new types of devices with low data-rate requirements, and will help in increasing 5G network coverage in various end-use industries.  

Global 5G Services Market Scope:

 

Report Metric	Details
Market Size Value in 2022	US$227.887 billion
Growth Rate	CAGR during the forecast period
Study Period	2019 to 2029
Historical Data	2019 to 2022
Base Year	2023
Forecast Period	2024 – 2029
Forecast Unit (Value)	USD Billion
Segments Covered	Band Communication Type Application Geography
Companies Covered	AT&T Inc. China Broadnet China Mobile Limited NTT Docomo, Inc. SK Telecom Co., Ltd.
Regions Covered	North America, South America, Europe, Middle East and Africa, Asia Pacific
Customization Scope	Free report customization with purchase

 

MARKET SEGMENTATION:

• By Band
  • Sub-6 GHz
  • mmWave
• By Communication Type
  • FWA
  • eMBB
  • URLLC
  • MMTC
• By Application
  • Manufacturing
  • Energy and Utilities
  • Residential/Individual User
  • Government
  • Transportation and Logistics
  • Healthcare
  • Others
• By Geography
  • North America
    • USA
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Others
  • Europe
    • Germany
    • France
    • UK
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • UAE
    • Others
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Taiwan
    • Thailand
    • Indonesia
    • Others

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1. INTRODUCTION

1.1. Market Overview

1.2. Market Definition

1.3. Market Segmentation

2. RESEARCH METHODOLOGY  

2.1. Research Data

2.2. Assumptions

3. EXECUTIVE SUMMARY

3.1. Research Highlights

4. MARKET DYNAMICS

4.1. Market Drivers

4.2. Market Restraints

4.3. Bandwidth Availability

4.4. Number of Users

5. GOVERNMENT REGULATIONS/POLICIES

6. 5G SERVICES MARKET, BY BAND

6.1. Introduction

6.2. Sub-6 GHz

6.3. mmWave

7. 5G SERVICES MARKET, BY COMMUNICATION TYPE

7.1. Introduction

7.2. FWA

7.3. eMBB

7.4. URLLC

7.5. MMTC

8. 5G SERVICES MARKET, BY APPLICATION

8.1. Introduction

8.2. Manufacturing

8.3. Energy and Utilities

8.4. Residential/Individual User 

8.5. Government

8.6. Transportation and Logistics

8.7. Healthcare

8.8. Others

9. 5G SERVICES MARKET, BY GEOGRAPHY

9.1. Introduction

9.2. North America

9.2.1. USA

9.2.2. Canada

9.2.3. Mexico

9.3. South America

9.3.1. Brazil

9.3.2. Argentina

9.3.3. Others

9.4. Europe

9.4.1. Germany

9.4.2. France

9.4.3. UK

9.4.4. Others

9.5.  Middle East, and Africa

9.5.1. Saudi Arabia

9.5.2. UAE

9.5.3. Others

9.6. Asia Pacific

9.6.1. China

9.6.2. India

9.6.3. Japan

9.6.4. South Korea

9.6.5. Taiwan

9.6.6. Thailand

9.6.7. Indonesia

9.6.8. Others

10. RECENT DEVELOPMENTS AND INVESTMENTS

11. COMPETITIVE ENVIRONMENT AND ANALYSIS

11.1. Major Players and Strategy Analysis

11.2. Vendor Competitiveness Matrix

12. COMPANY PROFILES

12.1. AT&T Inc.

12.2. China Broadnet

12.3. China Mobile Limited

12.4. NTT Docomo, Inc.

12.5. SK Telecom Co., Ltd.

12.6. Bharti Airtel Limited

12.7. Verizon

12.8. T-Mobile

12.9. Rakuten Group, Inc.

12.10. Vodafone Group Plc

AT&T Inc.

China Broadnet

China Mobile Limited

NTT Docomo, Inc.

SK Telecom Co., Ltd.

Bharti Airtel Limited

Verizon

T-Mobile

Rakuten Group, Inc.

Vodafone Group Plc