5G Services Market Size Worth $2,208.2 Billion By 2030

The global 5G services market size is projected to value at USD 2,208.2 billion by 2030, registering a CAGR of 56.7% from 2022 to 2030. The market is expected to be driven by the increasing need for ultra-reliable and low-latency data networks, which in turn provide improved mobile connection. Furthermore, the market growth is fueled by the potential use of 5G services for applications like remote patient monitoring and remote surgery.

5G services play a key role in the telecommunications and transportation industries. By enabling seamless Vehicle-to-Vehicle (V2V) and Vehicle-to-Infrastructure (V2I) communication, 5G wireless technology is predicted to totally alter the transportation and logistics sector. The adoption of 5G services is also driven by the need to ensure the seamless and uninterrupted functioning of autonomous vehicles. Additionally, it is predicted that the widespread implementation of 5G network infrastructure will increase operational effectiveness in a number of IoT use cases, such as smart homes, smart cities, and industry 4.0.

Therefore, the total market growth is set to accelerate during the forecast period owing to the increasing demand for high bandwidth to enable dependable connection to IoT devices. The practice of remotely monitoring a building's energy systems is becoming more popular in various nations, including the U.S., China, and Japan. Furthermore, the key market players, including AT&T Inc., Verizon Communications, and China Telecommunications Corp., are investing in 5G services to minimize latency for faster Machine-to-Machine (M2M) communications.

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5G Services Market Report Highlights

• Based on communication type, the enhanced Mobile Broadband (eMBB) segment is projected to emerge as the fastest-growing segment by 2030

• The consumer segment is estimated to expand at the fastest growth rate by 2030 owing to the rising commercialization of the 5G services across countries, including China, the U.S., Japan, South Korea, and Germany

• Geographically, Asia Pacific captured the largest revenue share of more than 40% in 2021 which is attributed to the in-flow of investments from regional players such as SK Telecom, China Mobile, China Telecom, and KT Corp.

5G Services Market Segments

5G Services Communication Type Outlook (Revenue, USD Billion, 2020 - 2030)
    • FWA
    • eMBB
    • uRLLC
    • mMTC

5G Services Vertical Outlook (Revenue, USD Million, 2020 - 2030)
    • Consumer
    • Enterprises
        • Manufacturing
        • Public Safety
        • Healthcare & Social Work
        • Media & Entertainment
        • Energy & Utility
        • IT & Telecom
        • Transportation & Logistics
        • Aerosapce & Defense
        • BFSI
        • Government
        • Retail
        • Mining
        • Oil & Gas
        • Agriculture
        • Construction
        • Real Estate

5G Services Regional Outlook (Revenue, USD Billion, 2020 - 2030)
    • North America
        • U.S.
        • Canada
    • Europe
        • U.K.
        • Germany
        • France
        • Russia
        • Italy
        • Spain
    • Asia Pacific
        • China
        • India
        • Japan
        • South Korea
    • Latin America
        • Brazil
        • Mexico
    • Middle East & Africa (MEA)

List of Key Players of the 5G Services Market
    • AT&T, Inc.
    • BT Group plc
    • China Mobile Ltd.
    • China Telecom Corp. Ltd.
    • Bharti Airtel Ltd.
    • NTT Docomo
    • KT Corp.
    • Saudi Telecom Company
    • Vodafone Group
    • Deutsche Telekom AG
    • SK Telecom Co., Ltd.
    • Verizon Communications, Inc.
    • T-Mobile USA Inc.
    • Rakuten Mobile Inc.