5G Services Market Size To Reach $2,208.25 Billion By 2030

5G Services Market Growth & Trends

The global 5G services market size is estimated to reach USD 2,208.25 billion in 2030 and is projected to grow at a CAGR of 62.2% from 2025 to 2030, according to a new report by Grand View Research, Inc. The rapidly rising demand for ultra-reliable and low-latency data networks capable of providing enhanced mobile connectivity is estimated to boost the market growth over the forecast period. The potential adoption of 5G services for remote patient monitoring and remote surgery applications is also anticipated to propel market growth from 2022 to 2030. The 5G wireless technology is expected to completely transform the transportation and logistics industry by providing seamless Vehicle-to-Vehicle (V2V) and Vehicle-to-Infrastructure (V2I) connectivity.

As such, the need to ensure strong, seamless, and uninterrupted connectivity with autonomous vehicles is estimated to drive the adoption of 5G services. Furthermore, robust deployment of 5G network infrastructure is estimated to improve the operational efficiencies in several IoT use cases, including smart homes, smart cities, and industry 4.0. Hence, the rising need for high bandwidth to provide reliable communication to IoT devices is expected to elevate the overall market growth over the forecast period. In some countries, such as the U.S., China, and Japan, the trend of monitoring energy systems of buildings remotely is rising gradually. This is expected to open new opportunities for rolling out 5G services over the forecast period.

As such, the growing need for remote asset monitoring, drone control, coordination, and smart grid control is anticipated to fuel the growth of the ultra-Reliable Low-Latency Communications (uRLLC) segment over the forecast period. Key market players, such as AT&T Inc., China Telecommunications Corp., and Verizon Communications, are investing in rolling out 5G infrastructure to provide low-latency services for faster Machine-to-Machine (M2M) communication. However, these market players are expected to deliberate before making investments owing to the high 5G spectrum prices. Stringent government regulations and policies pertaining to the 5G wireless technology are also expected to hinder market growth.

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5G Services Market Report Highlights

• 5G services provide enhanced user experience, including seamless video calling, Ultra-High Definition (UHD) video, as well as Augmented Reality (AR) and Virtual Reality (VR) for gaming.

• Various governments across the globe are actively promoting the development and adoption of 5G services. For instance, in February 2023, the Minister of Finance of India announced plans to establish 100 labs in engineering institutions to develop applications that utilize 5G services.

• Based on communication type, the enhanced mobile broadband (eMBB) segment led the market with the largest revenue share of 39.41% in 2024

• Based on vertical, the enterprise segment accounted for the largest revenue share in 2024. The growing need for ultra-fast connectivity and extremely low latency among enterprises drives the growth of the market

• Asia Pacific dominated the 5G services market with the largest revenue share of 41.3% in 2024. Key market companies in APAC, such as China Telecom Corporation Limited, China Mobile Limited, SK Telecom, and KT Corp.

5G Services Market Segmentation

Grand View Research has segmented the global 5G services market report based on communication type, vertical, and region:

5G Services Communication Type Outlook (Revenue, USD Million, 2020 - 2030)

• Fixed Wireless Access (FWA)

• Enhanced Mobile Broadband (eMBB)

• Ultra-Reliable and Low-Latency Communications(uRLLC)

• Massive Machine-Type Communications(mMTC)

5G Services Vertical Outlook (Revenue, USD Million, 2020 - 2030)

• Consumer

• Enterprises

  • Manufacturing

  • Public Safety

  • Healthcare & Social Work

  • Media & Entertainment

  • Energy & Utility

  • IT & Telecom

  • Transportation & Logistics

  • Aerospace & Defense

  • BFSI

  • Government

  • Retail

  • Mining

  • Oil & Gas

  • Agriculture

  • Construction

  • Real Estate

Regional Outlook (Revenue, USD Million, 2020 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • Germany

  • UK

  • France

  • Russia

  • Italy

  • Spain

• Asia Pacific

  • China

  • Japan

  • India

  • South Korea

• Latin America

  • Brazil

• Middle East and Africa (MEA)

  • Saudi Arabia

  • UAE

  • South Africa

List of Key Players in the 5G Services Market

• 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.