According to the Market Statsville Group (MSG), the Global 5G Technology Market size was valued at USD 0.10 trillion in 2024 and is expected to grow from USD 0.18 trillion by 2025 to USD 14.82 trillion by 2033, at a CAGR of 73.4% during the forecast period (2025 – 2033)
The 5G technology market is growing at a very fast rate due to the changes the technology will bring to different sectors including telecommunication, automobile, healthcare, and manufacturing. The successor of the current generation wireless communication standard, 5G comes with extremely low latency, much higher data transfer rates as well as the capabilities of handling an unprecedented number of connections along with colossal improvements in IoTs, smart city, and self-driving vehicles. The market is driven mainly by the rising requirement for better connectivity, improvement in overall mobile broadband services, edge computing, and industrial applications. Some of the industry players such as operators, equipment makers, and software companies are now deeply investing on 5G network rollout and spectrum purchase. Few areas such as North America, Asia-Pacific, and Europe dominate the current use of the networks and policymakers work with private sectors to rollout the networks. The issues like high deployment costs, legal limitations, and the threats of cyberattacks are still there, though much discussed and receiving innovative solutions. It is perceived that, as 5G ramps up its usage, AI and AR/VR applications with 5G will drive fresh business models and redefine connectivity across the world.
Definition of the 5G Technology
5G stands for the fifth generation of wireless communication technology and several times superior than earlier existing technologies in terms of download and upload speeds, latency rate, and other parameters. IoT, autonomous vehicles, and smart cities are a few of the use cases that the improvement of connectivity and acceleration of technological development benefit from IDT worldwide.
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Scope of the Global 5G Technology Market
The study categorizes the 5G Technology market based on Component, Spectrum, Application, End-User Industry at the regional and global levels.
By Component Outlook (Sales, USD Million, 2019-2033)
- Hardware
- Software
- Services
By Spectrum Outlook (Sales, USD Million, 2019-2033)
- Low Band
- Mid Band
- High Band (mmWave)
By Application Outlook (Sales, USD Million, 2019-2033)
- IoT and Smart Cities
- Autonomous Vehicles
- Industrial Automation
- Enhanced Mobile Broadband (eMBB)
- Ultra-Reliable Low-Latency Communication (URLLC)
- Fixed Wireless Access (FWA)
By End User Outlook (Sales, USD Million, 2019-2033)
- Telecom
- Automotive
- Healthcare
- Manufacturing
- Media and Entertainment
- Energy and Utilities
By Region Outlook (Sales, USD Million, 2019-2033)
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Italy
- France
- UK
- Spain
- Poland
- Russia
- The Netherlands
- Norway
- Czech Republic
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Indonesia
- Malaysia
- Thailand
- Singapore
- Australia & New Zealand
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Colombia
- Rest of South America
- The Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Northern Africa
- Rest of MEA
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Hardware segment accounts for the largest market share by Component
Based on the Component, the market is divided Hardware, Software, Services. Hardware are the dominant segment of the 5G Technology Market. This is attributed to the fact that, physical infrastructure is core in the establishment of 5G networks. Small cells, macro cells and Radio Access Networks (RAN) are important in extending coverage, speed and low latency; which are key to the selling proposition of 5G. Telecom operators and network providers ensure they spend a lot of money on installing these hardware components in order to maintain a solid 5G network base. To achieve massiveimi ion of 5G, significant modifications for network infrastructure are needed based on the densification of small cells for urban areas and macro cells for wide coverage. New technologies such as 5G and solutions for the development of hardware and their installation around the world, particularly in specific regions such as Asia-Pacific, North America, and the European market, push forward market growth. Moreover, telecom operators association with infrastructure providers including Huawei, Ericsson and Nokia are also putting competitive pressures on developing the new equipments. However, out of all the requirements for network optimization and performance, it’s the hardware that is the most important for 5G.
Asia-Pacific accounted for the largest market share by Region
Based on the regions, the global market of 5G Technology has been segmented across North America, Europe, the Middle East & Africa, South America, and Asia-Pacific. The Asia-Pacific dominates the 5G Technology market. This is particularly because the country adapted early to this model, has made heavy investments in it, and has engaged in a lot of affirmative actions to support the model. Players like China, South Korea, and Japan are leading the way, backed up by Ethernet Telecom Infrastructure, sound economic growth and a huge population base. China invests a colossal number of dollars in 5G base stations making it the world’s leader in 5G deployments. South Korea and Japan are already using 5G for some more demanding use cases such as smart cities, autonomous cars, and Industry 4.0. APAC governments will continue pushing for digitalization and innovation, including fast track network rollout and spectrum release. Also, the telecom market advances due to international market competitors like Huawei Samsung and ZTE leading to technological development in the regional market. Thus, the need for high-speed internet and companies involved in the Internet of Things also increases adoption. Consequently, APAC continues to be a leading market for both the development and the rollout of 5G services worldwide.
Competitive Landscape: Global 5G Technology Market
The 5G technology market at the global level can be said to be competitive whereby key players in the market include Huawei, Ericsson, Nokia, Samsung, as well as Qualcomm where the competition is company driven through investment on research and development and partnership. Some of the principal players amongst telecom operators include AT&T, Verizon, China Mobile and so on that have very active roles in the network deployment. Stiff competition arises as holders shifted their strategies to the deployment of 5G networks, spectrum purchase and innovative application creation.
Major players in the global 5G Technology market are:
- VMware, Inc.,
- NEC Corp.
- CommScope, Inc.
- Fujitsu Global
- ZTE Corp
- Qualcomm Technologies Inc.
- Cisco Systems Inc
- Marvell Semiconductor Inc.
- Mavenir Systems, Inc
- Samsung Electronics Co., Ltd
- Verizon Communications Inc.
- Other Major Players
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Recent Development
- In June 2023, AT&T Inc. and Cisco Systems Inc. decided on strategic co-operation framework that would help the enterprises take connectivity to the next level to support and empower the workforce which is becoming heavily mobile-reliant. These companies are also eyeing for other value to add to their SD-WAN connectivity with their 5G and broadband to give one solution that would benefit all enterprises.
- In October 2022, Fibocom Communication Technology Co. Ltd., a Chinese communication devices manufacturer revealed the new product, the FX170(W) Series; a 5G Sub-6GHz and mmWave Module. It is combined with the Snapdragon X65 5G Modem-RF System and enhances the opportunity of wireless connection equivalent to a fiber, great network range, high speeds, and extended capabilities.
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