5G Technology Market to Skyrocket to $357.1B by 2031 with 44.2% CAGR Driven by IoT, AR/VR, Connected Vehicles & Smart City Deployments

The Global 5G Technology Market size reached US$ 19.1 billion in 2022 and is expected to reach US$ 357.1 billion by 2031 growing with a CAGR of 44.2% during the forecast period 2024-2031.

According to DataM Intelligence has published a new research report on "5G Technology Market Size 2025". The report explores comprehensive and insightful Information about various key factors like Regional Growth, Segmentation, CAGR, Business Revenue Status of Top Key Players and Drivers. The purpose of this report is to provide a telescopic view of the current market size by value and volume, opportunities, and development status.

5G technology is the fifth-generation mobile network offering ultra-fast speeds, low latency, and massive device connectivity. It enables advanced applications such as IoT, autonomous vehicles, AR/VR, and smart cities. The technology uses new spectrum bands and network architectures for higher efficiency. Telecom operators worldwide are deploying 5G infrastructure rapidly. Growth is driven by digital transformation and connected device expansion.

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➣ Recent Developments:

✅ In July 2025, Ericsson rolled out its advanced 5G Standalone (SA) core upgrade, enabling ultra-low-latency enterprise applications across manufacturing, mining, and healthcare sectors.

✅ In June 2025, Qualcomm unveiled its 5G Advanced chipset supporting improved carrier aggregation and AI-enhanced signal optimization. Commercial device integration is expected by early 2026.

✅ In May 2025, Nokia deployed a private 5G network solution for large-scale logistics hubs in Europe, boosting real-time tracking, automation, and operational throughput.

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➣ Top Industry Players:

AT and T Inc., BT Group plc., China Mobile Ltd., China Telecom Corporation Ltd., Bharti Airtel Ltd., NTT Docomo Kingspan, KT Corp., Saudi Telecom Company, Vodafone Group and Deutsche Telekom AG.

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➣ Market Segments:

By Connectivity: Enhanced Mobile Broadband (eMBB), Ultra-Reliable Low Latency Communication (URLLC), Massive Machine Application Communication (mMTC), Others.

By Application: Commercial, Connected Vehicles, VR & AR, Enhanced Video Services, Others.

By End-User: Industrial, IT & Telecom, Automotive, Government, Others.

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