5G Services Market

5G Services Market Analysis by Vertical (5G Services for Mining, Public Safety, IT & Telecom, Healthcare & Social Work, Agriculture, Manufacturing, Aerospace & Defense, Government, Real Estate, Retail, Transportation & Logistics, 5G Services for BFSI, 5G Services for Oil & Gas, 5G Services for Construction), by Communication Type & Region forecast till 2032

Analysis of 5G Services market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more

5G Services Market Trends and Growth Statistics (2022-2032)

The global 5G services market garnered a market value of US$ 48 Billion in 2022 and is expected to accumulate a market value of US$ 3,827 Billion by registering a CAGR of 55% in the forecast period 2022-2032. Growth of the 5G services market can be attributed to increasing demand for wireless networks. The market for 5G services registered a CAGR of 28% in the historical period 2017-2021.

Report Attributes


Anticipated Base Year Value (2021)

US$ 30.85 Billion

Expected Market Value (2022)

US$ 48 Billion

Projected Forecast Value (2032)

US$ 3827 Billion

Global Growth Rate (2022-2032)

55% CAGR

Expected CAGR of U.S. Market (2032)


Anticipated Market Share of Asia Pacific(2022-2032)


Major Service Providers

  • Saudi Telecom Company
  • Rakuten Mobile Inc.
  • BT Group plc
  • Deutsche Telekom AG
  • China Mobile Ltd.
  • AT&T, Inc.
  • KT Corp.
  • Verizon Communications, Inc.
  • Bharti Airtel Ltd.
  • China Telecom Corporation Ltd.
  • Vodafone Group
  • NTT Docomo
  • SK Telecom Co., Ltd.
  • T-Mobile USA, Inc.

Know thy Competitors

Competitive landscape highlights only certain players
Complete list available upon request

Global 5G Services Market Analysis from 2017-2021 Vs Future Market Outlook for 2022-2032

According to Fact.MR- a market research and competitive intelligence providers, demand for 5G services experienced a substantial incline from 2017 to 2021, registering a CAGR of 28%. Extensive deployment of advanced communication and technology infrastructure has greatly elevated growth prospects of the market.

With extensive reliance on the virtual space increasing during the COVID-19 pandemic, the need for deploying advanced 5G infrastructure became of paramount importance. Increased migration frequency of business operations to the cloud and other virtual spaces has prompted investments in robust connectivity platforms.

In the aftermath of the pandemic crisis, this trend is anticipated to remain, as businesses and enterprises are unlikely to revert to the conventional mode of operations. Furthermore, as business requirements become increasingly disparate, enterprises are attempting to unify the same, impelling the need for 5G infrastructure. From 2022 to 2032, the market is scheduled to expand almost 80x in terms of value.

Which are Some Prominent Drivers of 5G Network?

Growing Demand from IoT to offer Opportunities to 5G Industries

The increasing demand for 5G technology from the Internet of Things (IoT) is expected to provide significant momentum to the 5G services market in the forecast period. As per the data released by the Federation of Indian Chambers of Commerce and Industry (FICCI), the global revenue for the IoT is anticipated to procure US$ 1.1 trillion by the end of 2025.

In addition, AI-powered devices are likely to pose a lucrative opportunity to the 5G market. The growing commercial application of 5G services is increasing at a rapid rate, thereby bolstering the market considerably. In addition, the increasing usage of AR/ VR is projected to further boost the demand for 5G technology since it offers low latency and wide coverage, which can benefit the market in the forecast period.

Rapid development in virtualization contributing to market growth

The 5G market is likely to experience robust growth in the coming time due to the rapid development in virtualization in the networking domain. The low latency offered and the faster data speeds are predicted to enhance the user experience, thereby growing the market considerably. The 5G services will find significant demand in the field of Virtual Reality (VR), Augmented Reality (AR), Ultra-High Definition (UHD) videos, among others.

What are the Challenges Faced by the 5G Services Market?

High Expenses associated with 5G Mobile Broadband to Hamper the Market Growth

The high cost associated with the 5G network mobile phone subscription is expected to hinder the market growth in the forecast period. The high cost of production would result in expensive 5G smartphones which is likely to limit the market growth in the coming time. In addition, the outbreak of COVID-19 has brought a temporary halt in the spectrum auctions in countries such as; the U.S, the U.K, and France.

The lockdown imposed globally hampered the manufacturing of 5G smartphones. Furthermore, launching 5G services in developing countries such as; India would face major challenges, which would hinder the market expansion in such nations. Challenges such as; low speed of data, and lack of regulatory bodies are likely to impede the 5G Industry growth in the forecast time.

Comparative View of 5G services Markets

5G Services Market :


5G Services Market

CAGR (2022-2032)


Market Value (2032)

US$ 3,827 Billion

Growth Factor

Advancement in technology owing to the increasing demand for wireless communication is bolstering the demand for 5G services.


Increasing adoption of AI, AR and VR is creating lucrative opportunities for 5G services.

5G Core Market :


5G Core Market

CAGR (2022-2032)


Market Value (2032)

US$ 900 Million

Growth Factor

5G core is widely demanded due to high speed Internet connectivity, low latency and high network capacity which helps to eliminate the limitations to IoT expansion is creating lucrative opportunities for 5G core market.


The advent and spread of technologies such as Enhanced Mobile Broadband and Ultra Reliable Low Latency Communication is fueling the growth of 5G core market.

Small Cell 5G Network Market :


Small Cell 5G Network Market

CAGR (2022-2032)


Market Value (2032)

US$ 8.2 Billion

Growth Factor

Growing data traffic and internet penetration is aiding small cell 5G network market growth.


The adoption of small cell 5G network is predicted to be fuelled by an increase in network upgrading needs due to the exponential increase in mobile data traffic.

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Region-Wise Analysis

Increasing Penetration of Technology Advancing growth of 5G Services in Asia Pacific?

Active Participation of Key Players to Augment 5G Business in the Region

As per the evaluation, APAC is anticipated to have procured about 38% of the market share in 2022. 5G market in the region is likely to grow at the fastest CAGR in the forecast period. The reason for the rapid growth of the 5G technology in APAC can be attributed to the active participation of established key players in the region.

Players such as; China Mobile, KT Corp, and China Telecom are making considerable investments to launch 5G infrastructure in China, Japan, and South Korea. Furthermore, the increasing demand for smartphones with high-speed data in developing countries like India, China, and Japan has provided a significant boost to the 5G Technology market in the region.

In addition to these, the application of next-generation in healthcare, manufacturing, media & entertainment is expected to propel the industry considerably in the times to come.

Country-Wise Analysis

What are the Probable Challenges to be faced by India in deploying the 5G Services?

Technological and Operational Challenges to Hamper 5G Technology Deployment in India

India is likely to face various challenges in deploying 5G technology due to various reasons. The major challenge is the pricing of the spectrum. Department of Telecommunications (DoT) will price the spectrum, however, heavy investment associated with 5G technology is likely to increase the price of spectrum. The other challenge is in the technological and operational sphere.

Most of the operators have nearly 20-25% fiberization, whereas 5G technology demands about 80% of fiberization. In addition, the telecom operators are still trying to deploy the 4G services completely, the introduction of 5G will demand an aggressive investment and a long payback period.

Development of End User Sector Leading to Growth of 5G Services Market in U.S.?

Smart homes and smart industries driving growth of 5G services market growth

North America was the second-largest regional market in 2021. Some of the most significant investments in deploying the 5G network infrastructure are materializing in the U.S. For instance, according to Fact.MR analysis, mobile operators based in the U.S. invested around US$ 250 Billion in mobile network infrastructure rollout between 2010 and 2017.

The aggressive investments in the country in building smart homes, establishing smart industries, and rolling out smart city projects are expected to contribute to the growth of the regional market over the forecast period. Thus, U.S. is expected to possess 20% market share for 5G services market in the forecast period.

Country-wise Forecast CAGRs for the 5G services Industry







Category-Wise Insights

What is the participation of IT & Telecom Segment in Boosting the Global 5G Services Market?

Increasing Demand for Efficient 5G Broadband Plans to Boost IT & Telecom Segment

According to Fact. MR, the IT & Telecom segment dominated the global market in 2022 and procured the maximum market revenue in 2021. The segment is anticipated to have acquired 20% of the global market share.

The increasing demand for higher data speeds for commercial and residential applications is likely to be the key factor elevating the segment. In addition, the key players of IT & Telecom are making significant investments to innovate technologies, which is expected to boost the market growth in the coming time.

Furthermore, the surging demand for efficient broadband to conduct seamless virtual corporate meetings is likely to augment the segment expansion in the forecast period.

What is the Role of the Manufacturing Sector in Expanding the Global 5G Services Market?

Rapid Digitization of Manufacturing Sector to Boost 5G Technology Demand

As per the analysis, the manufacturing segment is expected to witness the fastest CAGR of 30% during the forecast period. Sectors such as; healthcare are likely to deploy the 5G technology to provide efficient telehealth services during the COVID-19 period.

The rapid digitization in the manufacturing sector has enhanced the demand for efficient technology. The sector is adopting technologies to provide a seamless experience, which is likely to boost the demand for 5G technology in various manufacturing sectors.

Key start-ups in the 5G Services Market

Key players in the 5G services network are Celona, Blu Wireless Technology SemiBlocks, WasteHero, VSORA, and Seadronix Corp

  • Blu Wireless Technology, a key start-up player in the 5G services network is focusing on offering expertise in product hardware, network software and signal processing.
  • Celona, another key start-up in the 5G services market is focusing on offering cellular technology to amplify businesses. Through this, the company is maximizing the use of 5G services.

Market Competition

Key players of the market adopt various strategies to expand their reach in the global market and secure the forefront position in the market. Methods such as; acquisition, partnership, and collaboration are adopted to strengthen their position in the global space.

Some of the recent developments among the key players are :

  • In January 2021, T-Mobile with Ericsson and Nokia signed an agreement to deliver 5G technologies across various countries. It was a multi-billion dollar agreement.
  • In February 2022, AT&T announced that they would own 71% of the new WarnerBros. Discovery Company. The company will also receive 0.24 shares of Warner Bros.Discovery for every AT&T share.
  • In January 2022, KT, a Korean Carrier KT, and Japanese Tech Company Fujitsu accomplished the verification at KT Research and Development Center in South Korea. The two companies leveraged Fujitsu’s Open RAN-based 5G base station equipment to test call connections for open fronthaul. NTT Docomo, the Japanese player will provide Fujitsu with technical support during the project. With the advent of this new facility, KT has the objective to fasten the introduction of O-RAN technology to the 5G network in Korea.

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Key Segments Profiled in the 5G Services Industry Survey

  • By Vertical :

    • Mining
    • Public Safety
    • IT & Telecom
    • Healthcare & Social Work
    • Agriculture
    • Manufacturing
    • Aerospace & Defense
    • Government
    • Real Estate
    • Retail
    • Transportation & Logistics
    • BFSI
    • Oil & Gas
    • Construction
  • By Communication Type :

    • FWA 5G Services
    • eMBB 5G Services
    • mMTC 5G Services
    • uRLLC 5G Services
  • By Region :

    • North America
    • Latin America
    • Western Europe
    • Eastern Europ
    • APEJ
    • Japan
    • Middle East & Africa

- FAQs -

Fact.MR foresees 5G services demand to reach US$ 48 Billion in 2022.

I.T. and Telecom is anticipated to have acquire 20% of the global market share.

From 2022-2032, Fact.MR expects 5G services revenue to flourish at a 55% CAGR.

In 2032, 5G services market worth is poised to reach US$ 3827 Billion.

U.S. is expected to possess 20% market share for 5G services market in the forecast period.

APAC is anticipated to have procured about 38% of the market share in 2022.

U.S. and India will flourish at a CAGR of 45% combined until 2032.

As of 2021, the 5G services market was worth US$ 30.85 Billion.

5G Services Market

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