5G Services Market By Communication Type (Fixed Wireless Access (FWA), Enhanced Mobile Broadband (eMBB), Ultra-Reliable and Low-Latency Communications (uRLLC), Massive Machine-Type Communications (mMTC)), By Application (Manufacturing, Healthcare, Government, Media and Entertainment, Transportation and Logistics, Energy and Utilities), By End-Use (Consumers, Enterprises), and By Region; Global Insights & Forecast (2024 – 2030)

As per Intent Market Research, the 5G Services Market was valued at USD 95.2 billion in 2023 and will surpass USD 455.5 billion by 2030; growing at a CAGR of 25.1% during 2024 - 2030.

The 5G Services Market is on the cusp of a transformative era, driven by the increasing demand for faster, more reliable internet connectivity and the proliferation of smart devices. As the fifth generation of mobile networks, 5G promises to revolutionize how industries operate, enhancing data transfer speeds, reducing latency, and supporting a vast number of connected devices simultaneously. The market is expected to witness substantial growth between 2024 and 2030, propelled by advancements in technology and increased investments in infrastructure.

5G Services Market Size 2030

Network Services Segment is Largest Owing to Demand for Enhanced Connectivity

Within the 5G Services Market, the Network Services segment stands out as the largest, primarily driven by the ever-increasing need for enhanced connectivity and bandwidth. Businesses and consumers alike are demanding more from their network providers, and 5G's ability to support high data rates and ultra-reliable low latency communication (URLLC) is meeting these expectations. The rapid deployment of 5G infrastructure by telecom operators is leading to the establishment of robust networks, enabling seamless connectivity across urban and rural areas. This expansion not only facilitates higher speeds for end-users but also enhances the overall quality of service, making it essential for enterprises that rely on real-time data processing and communication.

Furthermore, the Network Services segment is supported by substantial investments from major telecommunications companies, which are focusing on expanding their 5G coverage and enhancing service offerings. The increasing integration of Internet of Things (IoT) devices across various sectors, including manufacturing, healthcare, and smart homes, necessitates a strong network backbone that 5G can provide. As more users transition to 5G networks, the demand for comprehensive and efficient network services is expected to grow, solidifying this segment's dominance in the overall 5G Services Market.

Professional Services Segment is Fastest Growing Owing to Increased Implementation Needs

The Professional Services segment is rapidly emerging as the fastest-growing component of the 5G Services Market, driven by the necessity for expert guidance and implementation strategies. As organizations migrate to 5G technologies, they face numerous challenges, including integration with existing systems, network optimization, and compliance with regulatory standards. Professional services, including consulting, deployment, and support, are critical in navigating these complexities. The increasing awareness of the benefits of 5G, coupled with the complexity of its implementation, propels the demand for these services, as companies seek to leverage expert insights to maximize their investments.

Moreover, as industries explore innovative applications of 5G technology, such as autonomous vehicles, smart cities, and enhanced mobile broadband, the need for specialized knowledge and skills becomes paramount. Professional service providers are crucial in helping organizations develop customized solutions tailored to their specific requirements. This segment's rapid growth is also supported by the proliferation of partnerships between technology firms and service providers, fostering collaborative efforts to deliver comprehensive solutions that facilitate the transition to 5G. With the ongoing advancements in technology and increasing investments in 5G infrastructure, the Professional Services segment is anticipated to continue its upward trajectory.

Managed Services Segment is Largest Owing to Cost-Effectiveness

The Managed Services segment is another key player in the 5G Services Market, recognized as the largest segment due to its cost-effectiveness and operational efficiency. Managed services provide organizations with the ability to outsource their network management and operations to specialized providers, allowing them to focus on their core business activities while benefiting from advanced 5G capabilities. As companies increasingly seek to reduce operational costs while maintaining high service levels, managed services have become an attractive option, enabling them to leverage 5G technologies without the burden of extensive infrastructure investments.

In addition, the complexity of managing 5G networks, which involve various components such as edge computing, IoT integration, and data analytics, makes managed services an appealing choice for businesses. Providers of managed services offer comprehensive solutions, including monitoring, maintenance, and optimization of network performance, ensuring that clients can fully capitalize on the advantages of 5G technology. This segment is expected to maintain its dominance in the market as organizations prioritize efficiency and scalability in their operations.

Equipment Segment is Fastest Growing Owing to Rapid Technological Advancements

The Equipment segment of the 5G Services Market is witnessing remarkable growth, positioning it as the fastest-growing segment driven by rapid technological advancements. The demand for 5G-compatible hardware, including routers, antennas, and base stations, is soaring as telecom providers and enterprises seek to upgrade their infrastructure to support the new technology. This surge in demand is fueled by the need for enhanced connectivity, lower latency, and increased capacity to accommodate the growing number of connected devices in various applications, from autonomous vehicles to smart cities.

Additionally, innovations in equipment design and manufacturing are contributing to the segment's growth. Companies are investing heavily in research and development to create more efficient and powerful 5G devices that can withstand the demands of diverse environments. The proliferation of IoT devices and applications that rely on 5G connectivity is expected to further drive the demand for advanced equipment. As the rollout of 5G networks continues, the Equipment segment is poised for significant expansion, providing essential tools that will enable organizations to harness the full potential of 5G technology.

North America is Leading Region Owing to Technological Adoption

North America is the leading region in the 5G Services Market, owing to its rapid technological adoption and significant investments in infrastructure. The United States, in particular, has been at the forefront of 5G deployment, with major telecommunications companies rolling out extensive networks across urban and rural areas. The region's strong focus on innovation and the presence of technology giants have created a conducive environment for the growth of 5G services. As industries increasingly recognize the potential of 5G to drive efficiency and enable new business models, the demand for services in North America continues to surge.

Moreover, the North American government is actively promoting the development of 5G technology through policies and initiatives aimed at enhancing connectivity and fostering competition among service providers. This supportive regulatory environment has spurred investments in research and development, leading to the emergence of cutting-edge applications that leverage 5G capabilities. The region's leadership in the 5G Services Market is expected to continue as businesses and consumers alike seek to capitalize on the advantages of this transformative technology.

Competitive Landscape and Leading Companies

The competitive landscape of the 5G Services Market is characterized by a diverse array of players, including telecommunications providers, technology firms, and service providers. Key companies such as Verizon Communications, AT&T, Ericsson, Nokia, and Huawei are at the forefront of the market, driving innovation and leading the deployment of 5G networks globally. These companies are investing heavily in research and development to enhance their service offerings and maintain a competitive edge in an increasingly crowded marketplace.

The competition is intensifying as new entrants emerge, seeking to capture market share by offering unique solutions and innovative services. Partnerships and collaborations among companies are becoming common, facilitating the exchange of expertise and resources to deliver comprehensive 5G solutions. Additionally, companies are focusing on expanding their geographical presence and targeting emerging markets where demand for 5G services is rapidly growing. This dynamic landscape underscores the importance of agility and adaptability in meeting the evolving needs of customers in the 5G Services Market.


Market Forecast and Growth

As businesses and consumers increasingly adopt 5G technology, the market is set to witness significant expansion, creating new opportunities and challenges for stakeholders across the ecosystem. The base year for this forecast is 2024, and the trajectory of growth will be influenced by technological advancements, regulatory developments, and shifting consumer preferences in the coming years.

With its transformative potential, the 5G Services Market is positioned to reshape industries, enhance operational efficiencies, and drive innovation across multiple sectors, establishing itself as a cornerstone of the digital economy.

Report Objectives:

The report will help you answer some of the most critical questions in the 5G Services Market. A few of them are as follows:

  1. What are the key drivers, restraints, opportunities, and challenges influencing the market growth?
  2. What are the prevailing technology trends in the 5G Services Market?
  3. What is the size of the 5G Services Market based on segments, sub-segments, and regions?
  4. What is the size of different market segments across key regions: North America, Europe, Asia-Pacific, Latin America, Middle East & Africa?
  5. What are the market opportunities for stakeholders after analyzing key market trends?
  6. Who are the leading market players and what are their market share and core competencies?
  7. What is the degree of competition in the market and what are the key growth strategies adopted by leading players?
  8. What is the competitive landscape of the market, including market share analysis, revenue analysis, and a ranking of key players?

Report Scope:

Report Features

Description

Market Size (2023)

USD 95.2 billion

Forecasted Value (2030)

USD 455.5 billion

CAGR (2024 – 2030)

25.1%

Base Year for Estimation

2023

Historic Year

2022

Forecast Period

2024 – 2030

Report Coverage

Market Forecast, Market Dynamics, Competitive Landscape, Recent Developments

Segments Covered

5G Services Market By Communication Type (Fixed Wireless Access (FWA), Enhanced Mobile Broadband (eMBB), Ultra-Reliable and Low-Latency Communications (uRLLC), Massive Machine-Type Communications (mMTC)), By Application (Manufacturing, Healthcare, Government, Media and Entertainment, Transportation and Logistics, Energy and Utilities), By End-Use (Consumers, Enterprises)

Regional Analysis

North America (US, Canada, Mexico), Europe (Germany, France, UK, Italy, Spain, and Rest of Europe), Asia-Pacific (China, Japan, South Korea, Australia, India, and Rest of Asia-Pacific), Latin America (Brazil, Argentina, and Rest of Latin America), Middle East & Africa (Saudi Arabia, UAE, Rest of Middle East & Africa)

Customization Scope

Customization for segments, region/country-level will be provided. Moreover, additional customization can be done based on the requirements

1. Introduction

   1.1. Market Definition

   1.2. Scope of the Study

   1.3. Research Assumptions

   1.4. Study Limitations

2. Research Methodology

   2.1. Research Approach

      2.1.1. Top-Down Method

      2.1.2. Bottom-Up Method

      2.1.3. Factor Impact Analysis

  2.2. Insights & Data Collection Process

      2.2.1. Secondary Research

      2.2.2. Primary Research

   2.3. Data Mining Process

      2.3.1. Data Analysis

      2.3.2. Data Validation and Revalidation

      2.3.3. Data Triangulation

3. Executive Summary

   3.1. Major Markets & Segments

   3.2. Highest Growing Regions and Respective Countries

   3.3. Impact of Growth Drivers & Inhibitors

   3.4. Regulatory Overview by Country

4. 5G Services Market, by Communication Type (Market Size & Forecast: USD Million, 2022 – 2030)

   4.1. Fixed Wireless Access (FWA)

   4.2. Enhanced Mobile Broadband (eMBB)

   4.3. Ultra-Reliable and Low-Latency Communications (uRLLC)

   4.4. Massive Machine-Type

   4.5. Communications (mMTC)

5. 5G Services Market, by Application (Market Size & Forecast: USD Million, 2022 – 2030)

   5.1. Manufacturing

   5.2. Healthcare

   5.3. Government

   5.4. Media and Entertainment

   5.5. Transportation and Logistics

   5.6. Energy and Utilities

   5.7. Others

6. 5G Services Market, by End-Use (Market Size & Forecast: USD Million, 2022 – 2030)

   6.1. Consumers

   6.2. Enterprises

7. Regional Analysis (Market Size & Forecast: USD Million, 2022 – 2030)

   7.1. Regional Overview

   7.2. North America

      7.2.1. Regional Trends & Growth Drivers

      7.2.2. Barriers & Challenges

      7.2.3. Opportunities

      7.2.4. Factor Impact Analysis

      7.2.5. Technology Trends

      7.2.6. North America 5G Services Market, by Communication Type 

      7.2.7. North America 5G Services Market, by Application 

      7.2.8. North America 5G Services Market, by End-Use 

      7.2.9. By Country

         7.2.9.1. US

               7.2.9.1.1. US 5G Services Market, by Communication Type

               7.2.9.1.2. US 5G Services Market, by Application  

               7.2.9.1.3. US 5G Services Market, by End-Use  

         7.2.9.2. Canada

         7.2.9.3. Mexico

         *Similar segmentation will be provided for each region and country

   7.3. Europe

   7.4. Asia-Pacific

   7.5. Latin America

   7.6. Middle East & Africa

8. Competitive Landscape

   8.1. Overview of the Key Players

   8.2. Competitive Ecosystem

      8.2.1. Level of Fragmentation

      8.2.2. Market Consolidation

      8.2.3. Product Innovation

   8.3. Company Share Analysis

   8.4. Company Benchmarking Matrix

      8.4.1. Strategic Overview

      8.4.2. Product Innovations

   8.5. Start-up Ecosystem

   8.6. Strategic Competitive Insights/ Customer Imperatives

   8.7. ESG Matrix/ Sustainability Matrix

   8.8. Manufacturing Network

      8.8.1. Locations

      8.8.2. Supply Chain and Logistics

      8.8.3. Product Flexibility/Customization

      8.8.4. Digital Transformation and Connectivity

      8.8.5. Environmental and Regulatory Compliance

   8.9. Technology Readiness Level Matrix

   8.10. Technology Maturity Curve

   8.11. Buying Criteria

9. Company Profiles

   9.1. AT&T

      9.1.1. Company Overview

      9.1.2. Company Financials

      9.1.3. Product/Service Portfolio

      9.1.4. Recent Developments

      9.1.5. IMR Analysis

      *Similar information will be provided for other companies 

   9.2. Bell Canada

   9.3. Bharti Airtel

   9.4. BT Group

   9.5. China Mobile

   9.6. China Telecom

   9.7. Deutsche Telekom

   9.8. KT Corporation

   9.9. MTN Group

   9.10. Orange

   9.11. Reliance Jio Infocomm

   9.12. SK Telecom

   9.13. Swisscom

   9.14. Telstra Group

   9.15. Verizon Communications

10. Appendix

A comprehensive market research approach was employed to gather and analyze data on the 5G Services Market. In the process, the analysis was also done to analyze the parent market and relevant adjacencies to measure the impact of them on the 5G Services Market. The research methodology encompassed both secondary and primary research techniques, ensuring the accuracy and credibility of the findings.

Research Approach - 5G Services Market

Secondary Research

Secondary research involved a thorough review of pertinent industry reports, journals, articles, and publications. Additionally, annual reports, press releases, and investor presentations of industry players were scrutinized to gain insights into their market positioning and strategies.

Primary Research

Primary research involved conducting in-depth interviews with industry experts, stakeholders, and market participants across the 5G Services ecosystem. The primary research objectives included:

  • Validating findings and assumptions derived from secondary research
  • Gathering qualitative and quantitative data on market trends, drivers, and challenges
  • Understanding the demand-side dynamics, encompassing end-users, component manufacturers, facility providers, and service providers
  • Assessing the supply-side landscape, including technological advancements and recent developments

Market Size Estimation

A combination of top-down and bottom-up approaches was utilized to analyze the overall size of the 5G Services Market. These methods were also employed to assess the size of various subsegments within the market. The market size assessment methodology encompassed the following steps:

  1. Identification of key industry players and relevant revenues through extensive secondary research
  2. Determination of the industry's supply chain and market size, in terms of value, through primary and secondary research processes
  3. Calculation of percentage shares, splits, and breakdowns using secondary sources and verification through primary sources

Bottom Up and Top Down - 5G Services Market

Data Triangulation

To ensure the accuracy and reliability of the market size, data triangulation was implemented. This involved cross-referencing data from various sources, including demand and supply side factors, market trends, and expert opinions. Additionally, top-down and bottom-up approaches were employed to validate the market size assessment.

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