The global 5G services market size was estimated at USD 125.36 billion in 2024 and is projected to reach USD 2,208.25 billion by 2030, growing at a CAGR of 62.2% from 2025 to 2030. The market growth is primarily driven by the rising demand for faster download and upload speeds, along with the need for reliable and consistent internet connectivity.
Moreover, the growing requirement for enhanced bandwidth and low-latency connectivity for several mission-critical applications—such as medical diagnostics and surgeries, precision manufacturing, drone operations, and vehicle-to-everything (V2X) communication—is also significantly contributing to the expansion of the market. Additionally, increasing global investments in 5G infrastructure by telecom operators and various government initiatives to strengthen digital connectivity are further fueling the market growth.
5G services offer an advanced user experience by enabling seamless video calling, Ultra-High Definition (UHD) video streaming, and immersive Augmented Reality (AR) and Virtual Reality (VR) applications, particularly in gaming and entertainment. Furthermore, 5G networks deliver major improvements in speed, latency, and reliability compared to previous generations of cellular connectivity, making them ideal for Internet of Things (IoT) infrastructures. The rising adoption of IoT devices requires a high-speed, stable, and continuous data connection, which is effectively supported by 5G technology. With its superior speed, scalability, and network-slicing capabilities, 5G efficiently accommodates the massive connectivity demands of IoT networks and facilitates effective management of connected devices.
Key Market Trends & Insights:
• In 2024, the Asia Pacific region led the global 5G services market, capturing the largest revenue share of 41.3%. This indicates that a significant portion of the worldwide 5G services revenue came from countries in the Asia Pacific, driven by high demand and rapid adoption of 5G technologies across the region.
• In the United States, the 5G services market also held a dominant position in 2024. The U.S. has been at the forefront of 5G deployment, with major telecom companies rolling out extensive 5G networks, contributing to its strong market performance during that year.
• When analyzing the market based on communication type, the enhanced mobile broadband (eMBB) segment emerged as the leader in 2024, securing the largest revenue share of 39.41%. This segment focuses on providing high-speed internet and enhanced connectivity, making it the most significant application of 5G services, especially for consumers and businesses requiring faster and more reliable mobile internet.
• From a vertical market perspective, the enterprise segment dominated in 2024, holding the largest revenue share. This indicates that businesses across various industries were key drivers of 5G adoption, utilizing the technology for applications such as automation, Internet of Things (IoT) connectivity, and improved business operations. The enterprise sector’s heavy investment in 5G infrastructure contributed significantly to its market share in that year.
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Market Size & Forecast:
• 2024 Market Size: USD 125.36 Billion
• 2030 Projected Market Size: USD 2,208.25 Billion
• CAGR (2025-2030): 62.2%
• Asia Pacific: Largest market in 2024
Key Companies & Market Share Insights:
Some of the key players in the 5G services industry include major telecommunications giants such as AT&T, Inc., China Mobile Limited, Verizon Communications Inc., Deutsche Telekom AG, Vodafone Group Plc, and others. These companies are striving to strengthen their positions in the highly competitive 5G market by focusing on expanding their customer bases. In an effort to gain a competitive edge, many of these companies are undertaking strategic initiatives, such as mergers and acquisitions (M&A), as well as forging partnerships with other significant players in the telecom and tech industries. These moves allow them to leverage new technologies, broaden their service offerings, and tap into new market segments.
Deutsche Telekom AG, a leading telecommunications service provider based in Germany, offers a diverse range of services. These include fixed-network broadband, mobile services, internet access, and internet-based television (TV) products for individual consumers. In addition, the company provides a variety of information and communication technology (ICT) solutions tailored for corporate and business clients, helping them improve their digital infrastructure and enhance operational efficiency.
British Telecommunications plc (BT Group) is another major connectivity service provider. The company focuses on delivering comprehensive connectivity, networking, and security solutions to businesses on a global scale. BT’s customer base spans across various sectors, including individual consumer customers, business clients, and communication providers. By offering services that support everything from basic connectivity to complex networking and cybersecurity needs, BT aims to cater to the diverse demands of its broad range of clientele. The company’s robust service portfolio positions it as a critical player in the global telecom and 5G service ecosystem.
Key Players
• AT&T, Inc.
• British Telecommunications plc
• China Mobile Ltd.
• China Telecom Corporation Ltd.
• Bharti Airtel Limited
• KT Corp.
• Saudi Telecom Company
• Vodafone Group Plc
• Deutsche Telekom AG
• SK Telecom Co., Ltd.
• Verizon Communications, Inc.
• NTT DOCOMO
• T-Mobile USA, Inc.
• Rakuten Mobile Inc.
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Conclusion:
The 5G services market is expected to experience significant growth, driven by the widespread adoption of 5G technologies across various regions and industries. Key factors include the increasing demand for high-speed connectivity, advancements in mobile broadband, and the rise of IoT and smart technologies. Companies are focusing on expanding their customer bases through strategic partnerships, acquisitions, and enhanced service offerings. As 5G continues to transform industries, it will play a crucial role in driving digital transformation, innovation, and economic growth globally.
