Press release
5G Services Market Forecast 2025-2034: Comprehensive Analysis And Growth Opportunities
5G Services
What Is the Projected Growth of the 5G Services Market?
The rapid expansion of the 5G services market has been evident in the previous years. The market size is anticipated to inflate from $206.44 billion in 2024 to $356.36 billion in 2025, with a compound annual growth rate (CAGR) of 72.6%. This significant growth during the historical period is thanks to a rise in internet consumers, robust economic progression in up-and-coming markets, the expanded acceptance of 5G networks, and the enhanced deployment of wireless technology.
The market for 5G services is projected to witness dramatic expansion in the upcoming years, increasing to a worth of $2006.82 billion by 2029, with a compound annual growth rate (CAGR) of 54.0%. This expected growth during the forecast period is due to several contributing factors such as the surge in 5g subscriptions, growing demand for connected vehicles, rising smart home popularity, increased internet usage, government policies, and the escalating number of IoT devices. Prominent trends for the forecast timeframe encompass 5g vran (virtualized radio access network) technology, innovative service solutions, technological progressions, standalone 5g, strategic alliances and cooperations, and the integration of artificial intelligence in the 5g network.
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What Are the Different 5G Services Market Segments?
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 Are the Primary Drivers Shaping the 5G Services Market?
The escalating need from the Internet of Things (IoT) is expected to foster an increased call for 5G services in order to provide superior performance and efficiency. For example, a report from IOT Analytics, a business intelligence company headquartered in Germany, stated that by the termination of 2023, approximately 16.6 billion IoT devices were interconnected, indicating a 15% upsurge from 2022. The report forecasts this figure to rise to nearly 18.8 billion by the conclusion of 2024. Consequently, the expansion in demand for IoT and the necessity to integrate smart appliances with high-velocity internet is set to propel the revenue of the 5G services market in the upcoming years.
Which Companies Are Leading 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 Major Trends Shaping the 5G Services Market?
The proliferation of AI-integrated solutions is a significant trend enhancing the development of the 5G services market. The commercial utilization of 5G services is experiencing exponential growth, thanks to increased connections and the rise of cloud-based AR or VR, which amplify the demand for 5G services offering enhanced bandwidth, extensive coverage, and low latency networks. Illustrating this, Nokia Corporation, based in Finland, disclosed in September 2022 its engagement with NTT DOCOMO Inc. in leveraging its AI radio frequency (RF) capacity planning software. The purpose was to expedite RF planning and provide support for the Japanese operator's successful 5G network deployment. The AVA* software by Nokia, engineered to provide 'intelligence everywhere,' incorporated an AI RF capacity planning solution, which was tailored per DOCOMO's requirements to predict 4G cells' RF capacity based on BTS performance data and determine optimal locations for 5G cell and RAN hardware to meet the requisite area capacity. Consequently, AI's integration into 5G services for improved precision and speed is expected to play a significant role in shaping the 5G services market trend.
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What Are the Top Revenue-Generating Geographies in 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
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the 5G Services Market?
2. What is the CAGR expected in the 5G Services Market?
3. What Are the Key Innovations Transforming the 5G Services Industry?
4. Which Region Is Leading the 5G Services Market?
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