The global 5G technology demand is subjected to record a CAGR of 48.3%. The market revenue is likely to be valued at USD 19.3 billion in 2023 and exhibit a revenue growth of USD 994.8 billion by 2033.
| Attributes | Details |
|---|---|
| 5G Technology Market HCAGR (2018 to 2022) | 99.5% |
| 5G Technology Market CAGR (2023 to 2033) | 48.3% |
| Market Size for 5G Technology (2023) | USD 19.3 billion |
| Market Size for 5G Technology (2033) | USD 994.8 billion |
| Market Size for 5G Technology - Absolute Dollar Growth | USD 975.5 billion |
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Key companies are unveiling flagship 5G solutions such as the Snapdragon X65, which is targeted to deliver downlink peak data speeds of up to 10 Gbps. Aside from increased peak data speeds, 5G is intended to provide abundant network capacity by extending into new spectra, such as mmWave.
Certain significant companies have their own academies that provide a wide range of 5G training courses for expert wireless engineers, non-engineers new to 5G, and so on. They are developing the fundamental technologies that are likely to enable 5G to function. Since they have a single technological roadmap, they can scale and drive the worldwide spread of 5G across sectors. Their goods are hastening the spread of 5G, while our work behind the scenes is facilitating the proliferation of the significant 5G ecosystem.
For market players, the ambition for 5G is a uniform connectivity fabric that might connect nearly everything around us. 5G is fast evolving to meet varied IoT requirements and use cases, and it is fueling a rich system of IoT growth advances. The industry leaders in 5G technology are at the vanguard of the 5G, Internet of Things (IoT), edge computing, and cloud network infrastructure eras.
With their cutting-edge technologies, they hope to advance in society ahead and provide new opportunities. They hold the industry's most comprehensive portfolio of critical 5G patents and play an important role in global standards. For instance, Ericsson's dual mode 5G Core solution is a solution for dealing with the launch of the new 5G Core network architecture. This can be accomplished while allowing for effective coexistence with deployed 4G Core networks and using the benefits of new technologies such as cloud-native to legacy networks.
As new use cases emerge, their purpose is to assist service providers in managing this ongoing high-traffic growth while minimizing energy usage. Their goal is to develop revolutionary network technologies that would allow service providers to launch new services while lowering their carbon impact. New 5G use cases are projected to generate considerable income streams for CSPs as well as new connection options for customers.
Cloud gaming, AR/VR, autonomous driving, fixed wireless connectivity, and other applications are examples of these use cases. The Radio Access Network (RAN) consists of antennas, radios, baseband (RAN Compute), and RAN software to provide extraordinary speeds and mobility. Some market players have already begun their research on 6G. Their goal is to use ever-present intelligent communication to help 6G contribute to a more efficient, human-friendly, and sustainable society.
Operators may generate new income sources with 5G. Manufacturing, along with energy and utilities, is one of the important industries for new income possibilities for operators addressing industry digitization with 5G technology. According to 'The 5G Business Potential' report, the projected addressable market in 2026 is likely to be USD 113 billion, representing a significant 7% potential revenue rise from current service revenue predictions.
From immersive extended reality (XR) experiences to high-precision location, presence, and timing technologies, 5G-Advanced may fundamentally change what one can accomplish with one's network.
With the fast deployment of 5G technology, the likelihood of cybersecurity attacks is increasing. The growing number of connected devices and computers may result in a rise in cyber-attacks. Unlike past technologies, 5G provides direct access to the cellular network, increasing the possibility of direct assault. Attackers can take advantage of such security flaws and launch sophisticated assaults. As a result, increased 5G deployment is projected to increase the number of possible risks. This is anticipated to limit the expansion of the 5G technology market.
On the contrary, the global market is likely to benefit from the ongoing requirement for 5G technology across numerous business verticals. For example, in the healthcare industry, 5G has enabled high levels of connectivity for a new health ecosystem to fulfill patient and provider demands on a significant scale in a convenient, accurate, efficient, and cost-effective manner. 5G connectivity is growing use cases of Artificial Intelligence (AI) and health-related IoT devices to monitor patients and provide suggestions for illness treatment. This is likely to drive the demand for 5G technology.
Principal Consultant
| Country | The United States |
|---|---|
| CAGR (2023 to 2033) | 51.1% |
| HCAGR (2018 to 2022) | 106.9% |
| Country | The United Kingdom |
|---|---|
| CAGR (2023 to 2033) | 59.7% |
| HCAGR (2018 to 2022) | 101.7% |
| Country | China |
|---|---|
| CAGR (2023 to 2033) | 66.8% |
| HCAGR (2018 to 2022) | 101.3% |
| Country | Japan |
|---|---|
| CAGR (2023 to 2033) | 59.1% |
| HCAGR (2018 to 2022) | 106.6% |
| Country | South Korea |
|---|---|
| CAGR (2023 to 2033) | 56.4% |
| HCAGR (2018 to 2022) | 105.3% |
| Attributes | Details |
|---|---|
| The United States of America Market Size (2033) | USD 385.1 billion |
| The United States of America Market Absolute Dollar Growth (USD million/billion) | USD 378.9 billion |
North America is a significant 5G technology market, with the USA accounting for 51.1% of total sales. In the USA, the 5G technology market is predicted to reach a significant value of USD 385.1 billion. 5G plans provide an all-encompassing approach to network technology. It is accomplished by capitalizing on the USA ability to innovate and invest while crafting government policies to support and complement those capabilities.
In the USA, 5G addresses the rising need to generate and transport data and new knowledge more quickly. It also effectively supports an economy that is becoming more digital and networked. This 5G plan provides a holistic approach to network technology, capitalizing on the USA strengths. It is done in order to innovate and invest, while also developing government policies to support and complement those capabilities.
Key players in the country strive to provide entire 5G infrastructure solutions for the cloud, edge, and endpoint. For example, a market participant just introduced a world-class chipset that greatly simplifies 5G network roll-out by utilizing cutting-edge silicon technologies computing platforms.
5G technology is expected to allow smarter, safer, greener, and more efficient transportation in the USA through linked automobiles and transit infrastructure.
| Attributes | Details |
|---|---|
| The United Kingdom Market Size (2033) | USD 54.7 billion |
| The United Kingdom Market Absolute Dollar Growth (USD million/billion) | USD 54.2 billion |
The United Kingdom is a sizeable market, with an expected value of USD 54.7 billion and a revenue growth rate of 59.7% throughout the forecast period. EE launched the United Kingdom's first 5G network in May 2019. It was the culmination of a season in which the four main telecommunications companies rushed to turn on their networks as feasible. Smartphone manufacturers have stepped in, and the majority of new phones introduced nowadays have 5G support to some extent.
5G promises minimal latency, considerably better speeds, and increased connection and capacity for billions of devices in the United Kingdom. It is notably beneficial in IoT, Virtual Reality (VR), and Artificial Intelligence (AI). 5G sensors linked to these systems enable better-informed and quicker business choices.
Partnerships between market players to enhance 5G deployment can be accomplished by establishing a recovery fund. It is intended to be a significant accelerator for the implementation of 5G networks, accelerating the advantages to users, industries, and the development of sustainable infrastructure.
Top market players are delivering a 5G network that currently covers around 750 towns and cities, with a goal of covering 50% of the population in 2023. For instance, EE launched its network in May 2019, making 5G available to more than 50% of the British population. They intend to cover the entire country by 2028. However, despite increased 5G investment by the United Kingdom operators, the market has performed on par with many other markets in Europe in terms of 5G performance.
| Attributes | Details |
|---|---|
| China Market Size (2033) | USD 677.8 billion |
| China Market Absolute Dollar Growth (USD million/billion) | USD 673.7 billion |
With big enterprises in China and Japan, Asia Pacific is a crucial location for the 5G technology industry. China is the dominating and profitable 5G technology market, with a revenue share of 66.8%. In China, the market for 5G technology is expected to be worth USD 677.8 billion. Key parties strive to continue pushing for the building of a 5G plus gigabit fiber network, as well as to enhance multi-frequency collaboration, co-construction, and sharing.
Key players in China aim to strengthen 5G private networks and accelerate the scaled rollout of 5G apps. Venture capital and private equity, along with important enterprises throughout the industrial chain, are actively participating in the investment in the 5G ecosystem. Currently, the investment is being directed toward fundamental technologies such as Artificial Intelligence (AI), Big Data, and Visual Technology, as well as downstream application scenarios such as smart mobility and smart healthcare.
A prominent player has announced the 5G+ strategy to accelerate the integration of 5G into every industry in order to fulfill the unlimited possibilities brought about by 5G. They intend to accelerate the slow but thorough integration of ubiquitous intelligent 5G-based infrastructure with people's quest for a better life, industrial transformation and upgrading, and social governance innovation. Among other things, to contribute to the development of more inclusive 5G services that are accessible to all segments of society.
| Attributes | Details |
|---|---|
| Japan Market Size (2033) | USD 290.4 billion |
| Japan Market Absolute Dollar Growth (USD million/billion) | USD 287.6 billion |
Japan is a very lucrative 5G technology market, with a revenue growth rate of 59.1% and a predicted value of USD 290.4 billion during the projection period. Four different carriers in Japan are projected to invest more than UDD 14 billion in capital expenditures over the next few years. This is primarily for expenditures in base stations, servers, and fiber optics as they expand their 5G networks.
Key companies in Japan are providing extraordinary technologies to accelerate the country's adoption of 5G technology. NTT Docomo, for example, claims to offer the world's first commercial 5G Standalone (SA) network that allows devices to access both mid-band (sub-6 GHz) and mmWave frequencies at the same time, a feature known as 5G NR Dual Connectivity. According to Fitch Research, 5G is likely to become the dominant cellular technology in Japan by 2026. By 2029, the country may have around 45 million 4G subscribers and more than 151 million 5G subscriptions.
All major mobile network providers in the nation began commercial 5G services in both the mid-band and mmWave spectrum in March 2020, and seven handsets were introduced, including Samsung's Galaxy S20. Since the beginning, all operators have worked hard to serve the public with high-quality services. Like other nations rushing to implement 5G, the government in Japan welcomes 5G with open arms and is significantly investing in connected companies. Both the government and operators are interested in developing game-changing services that are likely to promote 5G maturity and expansion.
Start-up companies are partaking in the 5G technology, alongside key market players to contribute to the global 5G technology market growth:
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The 5G technology market share is very competitive owing to the existence of several established competitors. Organic development tactics used by mobile network companies include product and service launches, as well as approvals. Industry participants are concentrating on extending their footprint through acquisitions, expansions, product approvals, and launches in order to benefit from market growth prospects.
Recent Developments:
The 5G Technology market is valued at USD 19.3 billion in 2023.
China is anticipated to be the primary market for 5G Technology, with a projected market size of USD 677.8 billion by 2033.
The United States 5G technology market is estimated to surpass US$ 385.1 billion by 2033.
Rapid expansion and adoption of 5G technology is driving innovation in various industries, enabling IoT advancements.
Ericsson, followed by Deutsche Telekom AG, Nokia Networks, AT&T Inc., and Huawei Technologies Co. Ltd are leading in the 5G technology market.
1. Executive Summary | 5G Technology Market 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Technology 5.1. 5G NG Core 5.2. 5G RAN 5.3. NFVI 5.4. Optical Backhaul 5.5. Routing Backhaul 5.6. Others 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Application 6.1. Connected Automotive 6.2. Connected Drones 6.3. Connected Energy 6.4. Smart Cities 6.5. Smart Manufacturing 6.6. Virtual & Augmented Reality 6.7. Wireless eHealth 6.8. Others 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Vertical 7.1. Agriculture 7.2. Automotive 7.3. Energy & Utilities 7.4. Healthcare 7.5. Manufacturing 7.6. Public Safety 7.7. Transportation & Logistics 7.8. Others 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 8.1. North America 8.2. Latin America 8.3. Europe 8.4. East Asia 8.5. South Asia 8.6. Oceania 8.7. Middle East and Africa (MEA) 9. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. South Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. Oceania Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. MEA Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 16. Key Countries Market Analysis 17. Market Structure Analysis 18. Competition Analysis 18.1. Ericsson 18.2. Deutsche Telekom AG 18.3. Nokia Networks 18.4. AT&T Inc. 18.5. Huawei Technologies Co. Ltd. 18.6. Orange S.A. 18.7. China Mobile Limited 18.8. KT Corporation 18.9. Qualcomm Inc. 18.10. Verizon Communications Inc. 19. Assumptions & Acronyms Used 20. Research Methodology
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