Global 5G Technology Market size is expected to reach USD 113.99 Billion from 2023 and is expected to reach at USD 11,948.72 Billion by 2032 and is expected to reach at a CAGR of 65.4% during the forecast period 2023 – 2032.

5G Technology Market – Overview

In today’s digital world high speed internet and data connectivity is becoming one of the necessities. The rapid expansion of next-level wireless broadband technology is becoming more strong and wide-ranging.

The development and expansion of the 5G technology is the new technological advancements of the 21st Industry is the next face of development across the highly active broadband industry.

The huge consumer demand for high speed data connectivity, across developed as well as developing economies across the globe, the increased propagation of mobile and connected devices across several industries, and rapid technological expansions in the field of sensors and semiconductors, rapidly expanding end use industries are propelling the deployment and utilization of 5G technology across the globe.

However, factors such as data security concerns, privacy issues, less adoption in underdeveloped countries, and lack of universal directives about the usage of 5G technology are restraining the market growth.

Factors such as the growing number of smart cities across the globe and the rise of edge computing are expected to create lucrative opportunities for the market during the forecast period.

Global 5G technology market is segmented by component type, communication type, by technology, by application and by region. By component market is segmented into the software, services, and hardware segment. Among all of these, the Services segment held the highest market share in 2022 and is expected to keep its dominance during the forecast period.

By communication type, the market is segmented into enhanced mobile broadband, massive Internet of things and mission critical services. Among all of these communication types, enhanced mobile broadband type hold the highest market share of 42.00% in 2022.

By Application, the IT & Telecom segment highest market share in 2022 and is expected to keep its dominance during the forecast period owing to increasing demand for higher data speeds in the IT & telecom sector.

Global 5G Technology market is segmented into North America, Asia Pacific, Europe, Middle East & Africa and Latin America. Among all of these regions, Asia Pacific dominated the global market with a market share of 41.00% in 2022 and is expected to keep its dominance during the forecast period.

Rapidly growing end use industries in courtiers such as China, India, Japan, South Korea, and Australia are propelling the growth of this region.

Report Scope

Feature of the ReportDetails
Market Size in 2023USD 113.99 Billion
Projected Market Size in 2032USD 11,948.72 Billion
Market Size in 2022USD 78.45 Billion
CAGR Growth Rate65.4% CAGR
Base Year2023
Forecast Period2024-2033
Key SegmentBy Component, Communication Type, Technology, Application and Region
Report CoverageRevenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends
Regional ScopeNorth America, Europe, Asia Pacific, Middle East & Africa, and South & Central America
Buying OptionsRequest tailored purchasing options to fulfil your requirements for research.

Custom Market Insights has comprehensively analyzed the 5G Technology market. The driving forces, restraints, challenges, opportunities, and key trends have been explained in depth to depict the in-depth scenario of the market. Segment wise market size and market share during the forecast period are duly addressed to portray the probable picture of this 5G Technology industry.

The competitive landscape includes key innovators, after market service providers, market giants as well as niche players which were studied and analyzed extensively concerning their strengths, weaknesses as well as value addition prospects. In addition, the Report covers key players profiling, market shares, mergers and acquisitions, consequent market fragmentation, new trends and dynamics in partnerships, and emerging business models.

Global 5G Technology Market 2023–2032 (By Billion)

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List of the prominent players in the 5G Technology Market:

  • Airspan Networks Inc.
  • AT&T Inc.
  • Cisco Systems Inc.
  • Bharti Airtel
  • Reliance Jio
  • Comba Telecom Systems Holdings Limited
  • Hewlett Packard Enterprise Company
  • Huawei Technologies Co. Ltd.
  • Mavenir Systems Inc.
  • Deutsche Telekom AG
  • Ericsson
  • Huawei Technology
  • Nokia
  • Orange S.A.
  • Qualcomm Inc.
  • Telecom Italia
  • Verizon
  • SK Telecom
  • KT
  • LG
  • Telstra
  • T-Mobile
  • Intel Corporation
  • Others

The 5G Technology Market is segmented as follows:

By Component

  • Hardware
  • Software
  • Services

By Communication Type

  • Enhanced Mobile Broadband
  • Massive Internet of Things
  • Mission Critical Services

By Technology

  • Radio Access Technologies (RAT)
  • Wi-Fi
  • High-Speed Package Access (HSPA)
  • Global System for Mobile (GSM)
  • Worldwide Interoperability for microwave access (WiMAX)

By Application

  • IT & Telecom
  • Consumer Electronics
  • Industrial Automation
  • Automotive
  • Aerospace & Defense
  • Healthcare
  • Others

Regional Coverage:

North America

  • U.S.
  • Canada
  • Mexico
  • Rest of North America

Europe

  • Germany
  • France
  • U.K.
  • Russia
  • Italy
  • Spain
  • Netherlands
  • Rest of Europe

Asia Pacific

  • China
  • Japan
  • India
  • New Zealand
  • Australia
  • South Korea
  • Taiwan
  • Rest of Asia Pacific

The Middle East & Africa

  • Saudi Arabia
  • UAE
  • Egypt
  • Kuwait
  • South Africa
  • Rest of the Middle East & Africa

Latin America

  • Brazil
  • Argentina
  • Rest of Latin America