USD 84.31 billion
Report ID:
SQMIG45A2470 |
Region:
Global |
Published Date: February, 2025
Pages:
186
|Tables:
94
|Figures:
71
Global 5G Technology Market size was valued at USD 84.31 billion in 2023 and is poised to grow from USD 125.03 billion in 2024 to USD 2925.16 billion by 2032, growing at a CAGR of 48.3% during the forecast period (2025-2032).
The construction of 5G networks is costing a lot of money for numerous telecom corporations worldwide. This is a result of people's growing desire for stronger and more stable relationships. To make 5G service available to more people, there is a strong drive to roll it out nationwide and in local communities. Installations within their respective borders aren't the only places seeing infrastructure improvements. The other significant transformation is that every increasing number of devices and applications becomes capable of exploiting 5G. With outstanding speed and minimal latency, 5G establishes itself not only as a technology that will enable the connectivity of millions of devices on the Internet of Things but also as a critical enabler for augmented reality and virtual reality.
Fifth generation is currently accelerating the usage of speed and bandwidth to make it possible for communications between many devices. The speed at which the number of objects tied to the Internet of Things grows exceeds all boundaries. And smart cities, business, healthcare, transportation, and other areas are involved. It also fosters new thinking and much more efficient utilization of resources. There are now more collaborations and agreements regarding the delivery of 5G technology. Different firms within the telecom, tech, and tool industries work together to speed up developing and deploying such technologies. These teams are collaborating to address the challenging problems that arise during the rollout of 5G.
Market snapshot - 2025-2032
Global Market Size
USD 84.31 billion
Largest Segment
Services
Fastest Growth
Hardware
Growth Rate
48.3% CAGR
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Global 5G Technology Market is segmented by Offering, Connectivity, Communication Infrastructure, Core Network Technology, Network Architecture, Operational Frequency, Application, End User and region. Based on Offering, the market is segmented into Hardware, Software and Services. Based on Connectivity, the market is segmented into Enhanced Mobile Broadband (eMBB), Ultra-Reliable Low Latency Communication (URLLC) and Massive Machine Type Communication (mMTC). Based on Communication Infrastructure, the market is segmented into Small Cell and Macro Cell. Based on Core Network Technology, the market is segmented into Software-Defined Networking (SDN) and Network Function Virtualization (NFV). Based on Network Architecture, the market is segmented into 5G Non-Standalone (NSA) and 5G Standalone (SA). Based on Operational Frequency, the market is segmented into Sub 6 GHz and Above 6 GHz. Based on Application, the market is segmented into Connected Vehicles, Monitoring & Tracking, Automation, Smart Surveillance, Virtual Reality (VR) & Augmented Reality (AR), Enhanced Video Services and Others. Based on End User, the market is segmented into Manufacturing, Automotive, Energy & Utilities, Transportation & Logistics, Healthcare, Government, Media & Entertainment and Others. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
As per categorization by component, the market is classified as hardware, software, and services. Among these, services earned the largest share and continue to hold the dominant global 5G technology market share. The services segment of the global 5G technology market is undergoing a host of innovations by companies focusing strong attention on the improvements in network management, deployment solutions, and tailored service offerings. This segment is the largest due to the upsurge in demand for seamless, low latency, and high-speed connectivity in different business areas. Service providers will be the foundation through which smooth adoption of 5G occurs, enabled by offering solutions that are tailored for enterprises optimizing the performance of the network and propelling the scale of the 5G infrastructure.
The hardware component of the global 5G technology market is poised to be the fastest growing due to the increasing demand for advanced infrastructure to support 5G networks. 5G technology involves massive outages in the infrastructure, such as antenna systems, routers, base stations, and end-user equipment. It throws enormous hardware innovations into promises of high-speed low-latency performance delivered. On the contrary, the proliferation of Internet of Things (IoT) devices, autonomous cars, and smart cities makes a further claim on dedicated hardware components. Obviously, construction will continue to push hardware investments high during the new technologies that 5G adopts- namely, millimeter-wave and beam-forming techniques-designed to further expand its coverage.
Enhanced mobile broadband (eMBB) is driving innovation in the global 5g technology market by enabling unprecedented high-speed connectivity and supporting data-intensive applications like 4K/8K video streaming, AR/VR experiences, and smart city initiatives. However, it is based on the increasing demand for speed, reliability, and mobility. The application of eMBB boosts user experience by utilizing massive bandwidth and low latency from 5G, thereby catering to consumer-and industries-needs. eMBB is therefore a testament to the value promise of 5G-driven applications as the primary use case by how many connected devices are available, the trends towards remote work, and intentions for digital transformation across different sectors.
Ultra-reliable low latency communication (URLLC) is set to be the fastest-growing segment in the global 5g technology market due to its transformative potential in mission-critical applications. URLLC provides for communication in real-time with minimal latency and very reliable hardware-software linkages of multiple kinds, like those required for autonomous vehicles, industrial automation, telemedicine, and smart cities. URLLC becomes the bedrock of an industry adopting various advanced technologies needing precise time and fail-safe connectivity. The possible applications such as robotic surgeries, remote control of machinery, and increased public safety systems form the significant cropping demand for this technology with resultant possibilities for rapid growth, and thus it becomes one of the important enablers of future 5G incorporation.
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Asia Pacific dominates the global 5G technology market due to its early adoption, substantial investments, and government-backed initiatives promoting 5G deployment. A few countries namely China, South Korea and Japan spearhead the commercialization of 5G infrastructure, complemented by growing demands in advanced connectivity for industries like manufacturing, healthcare and smart cities. Growth is encouraged by this region's expansive consumer base and fast-paced digital transformation, coupled with telecom giants who link arms to extend networks and innovate application uses. Moreover, Asia and the Pacific prioritize the advancement of economies and technological leadership through the utilization of 5G technology, further solidifying its leadership status in global 5G technology market outlook.
North America is the fastest-growing region in the global 5G technology market due to robust investments in network infrastructure, early commercialization, and strong demand for advanced connectivity. North America and Canada are propelling the growth on 5G urban coverage through a significant range extending to suburbia and diverse landscape. New wave of industries such as the automotive, health and entertainment industries, have now begun using the forthcoming technology for huge transformative applications like strategies for autonomous vehicles, telemedicine, and immersive media, among many others. Other than government initiatives, spectrum allocations, and competitive moves from leading telecom providers, all ingredients speed up much of the 5G adoption. North America is rapidly becoming an extremely advanced market for 5G, surrounded by a huge wave of innovation and adoption.
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Surge in Connected Devices and IoT Integration
Rising Demand for High-Speed Connectivity
Spectrum Availability and Regulatory Hurdles
Compatibility Issues with Existing Devices
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Innovations and strategic collaborations among competitive peers characterizing the global 5G technology market vie with one another. Key players in the domain are Huawei Technologies, Ericsson, Nokia, Qualcomm, Samsung Electronics, and ZTE Corporation. These and other multinational corporations contribute to advancing infrastructure, devices, and services regarding 5G. Such firms generally invest hugely in R&D, partnerships, and networks with a view to boosting competitiveness. They also contribute to attracting tons of new customers by being the first to enter emerging global markets or by creating pioneering applications.
SkyQuest's ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, the advancements of the global 5G technology industry are sprawling penetrating into different verticals. Innovations are emerging in infrastructure, connectivity, and devices. With the increase in connected devices, the demand for seamless communication and high-speed communication has thus increased adoption of 5G in industries like IoT, healthcare, and autonomous vehicles.
Regional dominance, especially in Asia Pacific, and strong investments in infrastructure are fueling growth. While challenges such as spectrum availability and compatibility issues persist, the continuous development of services, hardware, and connectivity solutions promises to shape the future of 5G, driving further market expansion.
Report Metric | Details |
---|---|
Market size value in 2023 | USD 84.31 billion |
Market size value in 2032 | USD 2925.16 billion |
Growth Rate | 48.3% |
Base year | 2024 |
Forecast period | 2025-2032 |
Forecast Unit (Value) | USD Billion |
Segments covered |
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Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Companies covered |
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Customization scope | Free report customization with purchase. Customization includes:-
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Table Of Content
Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
Methodology
For the 5G Technology Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the 5G Technology Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the 5G Technology Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the 5G Technology Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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Global 5G Technology Market size was valued at USD 171.7 Billion in 2023 poised to grow from USD 240.72 Billion in 2024 to USD 3593.37 Billion by 2032, growing at a CAGR of 40.2% in the forecast period (2025-2032).
Innovations and strategic collaborations among competitive peers characterizing the global 5G technology market vie with one another. Key players in the domain are Huawei Technologies, Ericsson, Nokia, Qualcomm, Samsung Electronics, and ZTE Corporation. These and other multinational corporations contribute to advancing infrastructure, devices, and services regarding 5G. Such firms generally invest hugely in R&D, partnerships, and networks with a view to boosting competitiveness. They also contribute to attracting tons of new customers by being the first to enter emerging global markets or by creating pioneering applications. 'Huawei Technologies (China)', 'Ericsson (Sweden)', 'Nokia (Finland)', 'Qualcomm (USA)', 'Samsung Electronics (South Korea)', 'ZTE Corporation (China)', 'Intel Corporation (USA)', 'Cisco Systems (USA)', 'BT Group (United Kingdom)', 'SK Telecom (South Korea)', 'Verizon Communications (USA)', 'T-Mobile US (USA)', 'LG Electronics (South Korea)', 'China Mobile (China)', 'AT&T Inc. (USA)'
The growth of IoT devices and connected applications is a force that pushes the global 5G technology market growth. Industrial spaces consume seamless connectivity at all times and real-time data exchange, made possible via high bandwidth and low latencies provided by 5G. Transformations from smart home to autonomous vehicle, boosted by 5G, create enablement opportunities for the most breathtaking IoT ecosystems and thus inflate the market.
Increasing 5G Adoption in Industrial IoT: The global 5G technology market has been integrating Industrial IoT applications due to the rapid increase of 5G adoption in this area. Manufacturing, logistics, and automation industries utilize its high government broadband with low latency for improved efficiency, real-time intervention in processes, and enhanced process control through optimization in different sectors.
Asia Pacific dominates the global 5G technology market due to its early adoption, substantial investments, and government-backed initiatives promoting 5G deployment. A few countries namely China, South Korea and Japan spearhead the commercialization of 5G infrastructure, complemented by growing demands in advanced connectivity for industries like manufacturing, healthcare and smart cities. Growth is encouraged by this region's expansive consumer base and fast-paced digital transformation, coupled with telecom giants who link arms to extend networks and innovate application uses. Moreover, Asia and the Pacific prioritize the advancement of economies and technological leadership through the utilization of 5G technology, further solidifying its leadership status in global 5G technology market outlook.
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