5G Technology Market is expected to Grow with a CAGR of 42% through 2030F
The global 5G technology market is rising due to its transformative potential for high-speed, low-latency connectivity across diverse industries in the forecast period 2026-2030F.
According to TechSci Research report, “5G Technology Market -
Global Industry Size, Share, Trends, Opportunity, and Forecast 2030, Global 5G Technology Market was valued at USD 168 Billion in 2024 and is expected to reach USD 1390 Billion in 2030 and project robust growth in the forecast period with a CAGR of 42% through 2030. The
increasing adoption of advanced applications and technologies is a significant
driver of the global 5G technology market. Emerging innovations such as
autonomous vehicles, smart grids, and industrial robotics depend heavily on the
high-speed and low-latency capabilities of 5G to function effectively.
Autonomous vehicles, for example, require near-instantaneous data exchange
between vehicles and infrastructure to ensure real-time decision-making,
safety, and operational efficiency. This demand for rapid communication and
data processing is a direct result of 5G's ability to provide ultra-low latency
and high bandwidth, which are critical for the seamless operation of these
vehicles. Smart grids, which are designed to enhance the efficiency and
reliability of energy distribution, rely on 5G technology for real-time data
collection and analysis. The ability to monitor and manage energy flows
instantaneously allows for optimized grid performance and better energy
management, which is essential for modernizing energy infrastructure and
supporting sustainable energy solutions.
In the realm of industrial robotics, the
high-speed connectivity provided by 5G enables more sophisticated and
synchronized operations of automated machinery. The low latency of 5G supports
real-time control and coordination of robots in manufacturing environments,
enhancing production efficiency and flexibility. As these advanced applications
continue to gain traction, the demand for robust 5G infrastructure and services
is expected to rise correspondingly. The need for enhanced connectivity to
support these technologies accelerates investments in 5G network deployment and
infrastructure development. The growing integration of 5G into these
cutting-edge applications not only drives market growth but also fosters the
development of new business models and opportunities across various industries.
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North America is the fastest-growing
region in the global 5G technology market due to a combination of factors
including substantial investments in infrastructure, a high level of
technological innovation, and strong demand for advanced telecommunications
services. The United States and Canada, leading countries in this region, have
been proactive in adopting and deploying 5G technology, supported by
significant investments from major telecommunications companies such as
Verizon, AT&T, and T-Mobile. These companies have been at the forefront of
5G rollout, leveraging their extensive resources to deploy extensive 5G
networks across urban and rural areas. The rapid development and deployment of
5G infrastructure in North America are driven by the need to address increasing
consumer demand for faster, more reliable connectivity and to support the
growing use of data-intensive applications such as streaming services, smart
devices, and cloud computing. Additionally, the region benefits from a highly
competitive telecom market, which fosters innovation and accelerates the
adoption of new technologies. Government support and regulatory frameworks in
North America also play a crucial role in facilitating the growth of the 5G
market. For instance, the Federal Communications Commission (FCC) in the U.S.
has implemented policies to expedite spectrum allocation and streamline the
permitting process for network infrastructure. This regulatory environment
helps reduce deployment delays and lowers costs, further accelerating 5G
adoption. Moreover, North America’s focus on digital transformation and smart
technologies, including advancements in artificial intelligence, autonomous
vehicles, and industrial IoT, is driving the demand for high-speed, low-latency
connectivity that 5G offers. The region's strong emphasis on innovation and
research and development in technology also contributes to its leadership in
the 5G market. The presence of numerous tech hubs and startups that are
exploring new 5G use cases and applications adds to the region’s dynamic
growth. Additionally, North America's well-established and mature
telecommunications ecosystem provides a solid foundation for integrating 5G
technology and addressing the complex demands of modern digital infrastructure.
Collectively, these factors position North America as the fastest-growing
region in the global 5G technology market, driving advancements in connectivity
and shaping the future of telecommunications.
In 2024, Based on Component, The Services segment is the fastest-growing component of the Global 5G Technology Market in 2024, driven by the increasing demand for high-speed connectivity, advanced applications, and end-to-end digital transformation across industries. As 5G infrastructure matures, enterprises and consumers alike are turning to service providers for customized solutions that go beyond connectivity such as network management, cloud services, edge computing, and application enablement. The rise of Industry 4.0, smart cities, autonomous vehicles, and telemedicine is pushing organizations to rely on managed services, consulting, and system integration to implement and maintain complex 5G use cases. Businesses are seeking expert support to ensure seamless migration to 5G, optimize network performance, and unlock the full potential of ultra-low latency and massive machine-type communications. Moreover, telecom operators are increasingly offering value-added services like network slicing and private 5G networks, tailored for enterprise needs in sectors such as manufacturing, healthcare, logistics, and public safety. These services help companies enhance operational efficiency, enable real-time data analysis, and ensure secure, reliable communication. Additionally, the surge in cloud adoption and AI-driven technologies requires scalable, agile 5G services to support high-bandwidth applications. With the growing need for remote monitoring, predictive maintenance, and automation, the service layer plays a critical role in enabling these capabilities through 5G. Regulatory support and strategic partnerships between telecom companies, governments, and enterprises are also facilitating the expansion of 5G services. As 5G devices and applications proliferate, service providers are well-positioned to deliver ongoing support, innovation, and monetization opportunities. This dynamic shift from hardware-centric to service-centric models underscores why the Services segment is not only growing rapidly but also becoming a critical enabler of the 5G ecosystem globally.
Key market players in the global 5G
Technology market are: -
- Ericsson AB
- Nokia Corporation
- Huawei Technologies Co., Ltd.
- Qualcomm Technologies Inc
- Samsung Electronics Co., Ltd.
- Intel Corporation
- Cisco Systems, Inc.
- ZTE Corporation
- IBM Corporation
- Fujitsu Limited
- MediaTek Inc.
- Verizon Communications Inc.
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“The global 5G technology market
presents several key opportunities for growth and innovation. The expansion of
smart cities offers significant potential for 5G applications, including
enhanced public services and infrastructure management. Secondly, the rise of
autonomous vehicles and advanced transportation systems can benefit from 5G’s
low latency and high-speed capabilities, enabling safer and more efficient
operations. Additionally, the proliferation of IoT devices creates vast
opportunities for 5G to support large-scale, high-performance networks for
smart homes and industrial automation. The healthcare sector also stands to
gain from 5G through telemedicine and remote surgery advancements. Furthermore,
advancements in virtual and augmented reality can be accelerated by 5G’s high
bandwidth, creating new business models and consumer experiences. Collectively,
these opportunities drive substantial growth potential in various industry
sectors.Top of Form” said Mr.
Karan Chechi, Research Director of TechSci Research, a research-based global
management consulting firm.
“5G Technology Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Component (Hardware,
Software, Services), By Technology (Enhanced Mobile
Broadband [eMBB], Ultra-Reliable Low Latency Communication [URLLC], Massive
Machine Type Communication [mMTC]), By Spectrum (5G NR Sub-6GHz, 5G NR mmWave),
By Application (Consumer, Enterprises), By Region, By Competition, 2020-2030F” has evaluated the future
growth potential of Global 5G Technology Market and provides statistics
& information on market size, structure, and future market growth. The
report intends to provide cutting-edge market intelligence and help decision
makers take sound investment decisions. Besides the report also identifies and
analyzes the emerging trends along with essential drivers, challenges, and
opportunities in Global 5G Technology Market.
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