What are the Historical Developments and Current Growth Metrics of the 5G Services Market?
The 5g services market has seen considerable growth due to a variety of factors.
• The market size for 5G services has seen significant expansion recently. It is set to increase from a value of $206.44 billion in 2024 to $356.36 billion in 2025, boasting a compound annual growth rate (CAGR) of 72.6%.
The escalation in the preceding period is due to various factors including the rise in the number of internet users, notable economic progression in emerging markets, a higher rate of adoption of 5G networks, and the advancing development of wireless technology.
What Does Future Hold for The 5G Services Market Size?
The 5g services market is expected to maintain its strong growth trajectory in upcoming years.
• The size of the 5G services market is anticipated to undergo rapid expansion in the forthcoming years. It is projected to on-board a dramatic increase to $2006.82 billion by 2029, with a compound annual growth rate (CAGR) of 54.0%.
This impressive growth in the forecast period can be linked to an upsurge in 5G subscriptions, incrementing demands for connected car solutions, a boost in smart home technology, wide-spread internet access, governmental initiatives and a surge in the quantity of IoT devices. Core trends throughout the forecast period encompass 5G vRAN (virtualized radio access network) technology, service transformations, technological progression, stand-alone 5G, strategic alliances and cooperation, and the integration of artificial intelligence within the 5G network.
What Are The Primary Growth Drivers In The 5G Services Market?
The anticipated growth in the Internet of Things (IoT) is projected to fuel an increased demand for 5G services, required to deliver optimal performance and efficiency. For instance, IOT Analytics, a German business intelligence firm, reported in September 2024 that by the close of 2023, there were an estimated 16.6 billion IoT devices. This represented a 15% growth from 2022 and is predicted to reach approximately 18.8 billion by the end of 2024. Thus, the ever-growing requirement for IoT and the need to connect smart devices via high-speed internet are set to enhance the revenue of the 5G services market in the coming years.
What Is The Segmentation Of The Global 5G Services Market?
The 5G services market covered in this report is segmented –
1) By Communication Type: Fixed Wireless Access (FWA), Enhanced Mobile Broadband (EMBB), Ultra-Reliable And Low Latency Communications (URLLC), Massive Machine-Type Communications (mMTC)
2) By Vertical: Smart Cities, Smart Buildings, Connected Factories, Smart Utilities, Connected Healthcare, Connected Retail, Other Verticals
3) By End-User: Manufacturing, Energy And Utilities, Media And Entertainment, IT And Telecom, Transportation And Logistics, Healthcare, Aerospace And Defense, Other End Users
Subsegments:
1) By Fixed Wireless Access (FWA): Residential Broadband, Business Broadband, Rural Connectivity, Others
2) By Enhanced Mobile Broadband (EMBB): Consumer Mobile Data, Enterprise Mobility, AR Or VR Applications, High-definition Video Streaming
3) By Ultra-Reliable And Low Latency Communications (URLLC): Autonomous Vehicles, Remote Surgery, Industrial Automation, Mission-Critical Applications
4) By Massive Machine-Type Communications (mMTC): IoT Devices, Smart Cities, Wearable Technology, Smart Agriculture
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What Emerging Trends Are Shaping The 5G Services Market Landscape?
A significant trend influencing the expansion of the 5G service market is the advent of AI-enabled services. The commercial utilization of 5G services is on the rise. Increased connection numbers and the growth of cloud-based AR or VR are spurring a higher need for 5G services that offer extensive bandwidth, broader coverage, and networks with minimal latency. To illustrate, in September 2022, Nokia Corporation, a communication and information technology company located in Finland, reported the implementation of its AI RF capacity planning software by NTT DOCOMO Inc. This initiative was aimed at accelerating radio frequency planning and aiding the Japanese operator in the efficient deployment of their 5G network. Nokia's AVA* software that provides 'intelligence everywhere,' also includes an AI RF capacity planning feature. This tool was further tailored to DOCOMO's needs, enabling the prediction of the RF capacity of 4G cells from BTS performance data, and simulation of the best potential locations for 5G cell and RAN hardware to meet necessary area capacity. Hence, the integration of AI into 5G services to boost precision and speed is a key driving force in the 5G services market trend.
Who Are the Key Players in the 5G Services Market?
Major companies operating in the 5G services market include:
• AT&T. Inc
• Verizon Communications. Inc
• Deutsche Telekom AG
• China Mobile Ltd
• T-Mobile USA. Inc
• SK Telecom Co. Ltd.
• Saudi Telecom Company
• Vodafone Group
• China Telecom Corporation Ltd.
• BT Group plc
• Telefonica
• O2
• MTS
• Ericsson
• Orange
• DIGI
• Qualcomm
• Cisco
• Intel
• Huawei
• Inseego
• CommScope
• Cohere Technologies Inc
• United States Cellular Corporation
• C Spire
• Mimosa Networks
• Telecom Argentina
• America Movil
• Etisalat
• Emirates Integrated Telecommunications Company P.J.S.C.
• Zain Saudi Arabia
• 21st Century Technologies Ltd
• Dreamlabs Nigeria Ltd
• Excelsimo Networks Ltd
• Galaxy Backbone Plc
• ipNX Nigeria Ltd
• Liquid Intelligent Technologies
• MainOne
• Medallion Communications Inc
• MTN Group
• Rack Centre Ltd.
What are the Regional Insights into the 5G Services Market?
Asia-Pacific was the largest region in the 5G services market in 2024. North America was the second largest region in the global 5G services market share. The regions covered in the 5g services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
