The global 5G services market size was estimated at USD 125.36 billion in 2024 and is projected to reach USD 2,208.25 billion by 2030, growing at a CAGR of 62.2% from 2025 to 2030. This rapid growth is primarily driven by the increasing demand for faster download and upload speeds, as well as reliable and consistent internet connectivity, which are essential for both consumers and enterprises.

A key factor supporting market expansion is the rising need for improved bandwidth connectivity with low latency across several mission-critical applications. These applications include medical diagnostics and surgery, precision manufacturing, drone operations, vehicle-to-everything (V2X) communications, and numerous other areas that require instantaneous, high-speed data transfer. The deployment of 5G infrastructure by telecom operators and supportive investments from governments worldwide are further accelerating the market’s growth by enabling widespread access to next-generation connectivity solutions.

5G services significantly enhance user experience by enabling seamless video calling, Ultra-High Definition (UHD) video streaming, and immersive applications such as Augmented Reality (AR) and Virtual Reality (VR) for gaming and entertainment. Compared to earlier generations of cellular networks, 5G offers substantial improvements in speed, latency, and network reliability, which is especially critical for Internet of Things (IoT) infrastructures. The growing adoption of IoT devices, which demand fast, uninterrupted, and highly responsive data connections, is driving the need for 5G services.

Furthermore, 5G technology supports massive device connectivity through its high-speed capabilities, scalable network design, and advanced features such as network slicing. These capabilities allow efficient management of large-scale IoT networks, ensuring smooth communication between connected devices. By providing ultra-reliable, low-latency, and high-throughput connectivity, 5G is becoming the backbone for next-generation digital applications across multiple sectors, reinforcing its role as a key driver of global technological advancement and digital transformation.

Key Market Trends & Insights:

• In 2024, the Asia Pacific region dominated the global 5G services market, capturing the largest revenue share of 41.3%. This leadership is driven by rapid adoption of next-generation wireless technologies, strong investments in telecom infrastructure, and the presence of major network operators actively rolling out 5G networks. The region’s focus on digital transformation, smart cities, and industrial automation has further fueled demand for high-speed, low-latency connectivity, reinforcing Asia Pacific’s dominant position in the global 5G services landscape.

• The United States also held a dominant position in the 5G services market in 2024, supported by widespread network deployment, advanced infrastructure, and a high adoption rate of 5G-enabled devices. U.S. telecom operators and technology providers are investing significantly in expanding 5G coverage and capabilities, which is driving growth across both consumer and enterprise applications.

• By communication type, the enhanced mobile broadband (eMBB) segment led the market in 2024, accounting for the largest revenue share of 39.41%. The eMBB segment benefits from the growing demand for faster mobile internet, seamless streaming of high-definition and Ultra-High Definition (UHD) content, and advanced applications such as Augmented Reality (AR) and Virtual Reality (VR). Its high-speed connectivity and wide coverage make it essential for both consumer and enterprise use cases that require reliable and efficient mobile broadband services.

• In terms of verticals, the enterprise segment accounted for the largest revenue share in 2024. Enterprises are increasingly adopting 5G services to support mission-critical applications such as precision manufacturing, remote medical diagnostics, smart offices, autonomous logistics, and industrial IoT deployments. The high-speed, low-latency, and scalable nature of 5G networks enables enterprises to implement advanced digital solutions, improve operational efficiency, and support innovation-driven business models, thereby driving strong demand for enterprise-focused 5G services worldwide.

Order a free sample PDF of the 5G Services Market Intelligence Study, published by Grand View Research.

Market Size & Forecast:

• 2024 Market Size: USD 125.36 Billion

• 2030 Projected Market Size: USD 2,208.25 Billion

• CAGR (2025-2030): 62.2%

• Asia Pacific: Largest market in 2024

Key Companies & Market Share Insights:

Some of the key companies operating in the global 5G services market include AT&T, Inc., China Mobile Limited, Verizon Communications Inc., Deutsche Telekom AG, Vodafone Group Plc, and several others. These organizations are actively focusing on expanding their customer base and strengthening their competitive position in the rapidly evolving industry. To achieve this, leading players are pursuing a variety of strategic initiatives, including mergers and acquisitions, partnerships, collaborations, and alliances with other major companies. Such strategies help them enhance their service offerings, increase market reach, and capitalize on emerging opportunities in 5G deployment and adoption.

Deutsche Telekom AG is a major telecommunications service provider headquartered in Germany. The company offers a wide range of services and products, including fixed-network and broadband services, internet, mobile, and internet-based TV solutions for consumers. In addition, it provides information and communication technology (ICT) solutions tailored for corporate and business customers, supporting digital transformation and connectivity requirements across multiple sectors.

British Telecommunications plc (BT Group) is another significant player in the 5G services market, providing comprehensive connectivity solutions. The company delivers global networking, connectivity, and security services to businesses of all sizes. BT’s customer base spans a wide array of segments, including individual consumers, business clients, and other communication service providers. Through its extensive portfolio, BT focuses on enabling reliable, secure, and high-speed connectivity, playing a key role in advancing the adoption of 5G technologies for both enterprise and consumer applications.

Key Players

• 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.

Explore Horizon Databook – The world's most expansive market intelligence platform developed by Grand View Research.

Conclusion:

The 5G services market is expected to expand rapidly over the forecast period, driven by strong demand for faster and more reliable connectivity across consumer and enterprise applications. Growth is supported by widespread deployment of advanced 5G networks, increasing adoption of IoT devices, and the need for low latency, high bandwidth communication in mission critical use cases. Continued investments by telecom operators and governments in 5G infrastructure, along with enhanced user experiences such as seamless video, AR/VR, and mobile broadband services, are further propelling the market forward.