5G Technology Market By Component (Hardware, Software, and Services), By Device Type (Smartphones, Wearables, Laptops/Tablets, Automotive Devices, and IoT Devices), By Technology (Sub-6 GHz, mmWave, and Others), By Application (Enhanced Mobile Broadband (eMBB), Massive Machine-Type Communications (mMTC), Ultra-Reliable Low Latency Communications (URLLC), Fixed Wireless Access (FWA), and Others), and By End-user (Telecommunications, Automotive, Healthcare, Retail, Smart Cities, and Others), Global Market Size, Segmental analysis, Regional Overview, Company share analysis, Leading Company Profiles And Market Forecast, 2025 – 2035

Industry Outlook

The 5G Technology market accounted for USD 156.8 Billion in 2024 and is expected to reach USD 1,584.2 Billion by 2035, growing at a CAGR of around 23.4% between 2025 and 2035. The 5G technology market refers to the world industry of deploying and exploiting fifth-generation wireless technology. More than just faster data rates, greater connectivity, or lower latency compared to the previously used networks like 4G, 5G is said to bring all these aspects along with some unique features to spur progress in sectors like IoT (Internet of Things), autonomous cars, smart cities, or augmented reality. It consists of infrastructural development, which includes 5G, hardware as well and software, which involve antennas and base stations along with equipment manufacturers, telecom companies, and the providers of the technology.

Report Scope:

Market Dynamics

5G Technology Revolutionizing Cloud Gaming with Enhanced Speed, Latency, and Accessibility

The high-speed and low-latency capabilities in 5G technology are the prominent drivers of this market, given that such speed and latency results in smooth and seamless gaming. Cloud gaming can now be accessed with fewer expensive hardware purchases using a 5G network, which becomes more feasible with 5G. It makes the graphical-intensive titles also smooth and has real-time action due to ultra-low latency.

With increasing accessibility, cloud gaming services unlock new business opportunities for game developers in the creation of faster and more immersive experiences for a rapidly expanding global audience. This will, therefore, reshape the face of the gaming industry concerning increasing access and improving user experience around the globe. Further, 5G will enable massive simultaneous connections, hence enabling larger-scale multiplayer games and promoting an even more interactive and connected environment. This will be the blend of speed and reliability to open the door for innovations such as augmented and virtual reality gaming.

Private 5G Networks Driving Efficiency and Security in Manufacturing and Logistics

Private 5G network deployment is becoming very popular in manufacturing and logistics, as these industries need secure, high-performance communication. In helping those industries optimize operations and make more automation, which allows data security, dedicated and low-latency connectivity by 5G gives businesses huge economic value. Based on the European Commission, improvements in operational efficiency, cuts on downtime, and near-time processing of data are major components of generating huge economic values by private 5G networks.

This is making many organizations take the route of having private 5G solutions to fulfill mission-critical work. Also, with a private 5G network, more control in handling data, concerning security and privacy, is granted over data privacy and security as the concerned industries hold highly sensitive data. Moving further in this direction for implementing Industry 4.0, businesses will likely need more private 5G networks.

High Infrastructure Costs Hindering 5G Network Deployment and Market Expansion

It is a significant entry barrier in the form of very high infrastructure costs for most companies and regions to deploy 5G networks. It requires much investment in new infrastructure like base stations, antennas, and fiber optics to establish a 5G network and ensure wide coverage and high-speed connectivity. Acquiring spectrum licenses is also an expensive and limited resource. These costs can be a barrier to the speed of rollout for smaller businesses or developing countries.

European Commission estimates that the deployment cost of 5G infrastructure is as high as billions of dollars, which becomes a significant issue for service providers wanting to expand their networks. Governments and private sector partnerships are already considering ways to reduce costs and speed up deployment.

5G Technology Driving the Growth of Smart Cities with Enhanced Infrastructure and Efficiency

One of the key drivers for the 5G technology market will be the expansion of smart cities. The ultra-low latency, fast connectivity, and massive devices supported by 5G, make possible the provision of smart infrastructure such as an intelligent traffic management system and smart grids, as well as enhanced public safety. For instance, 5G makes possible real-time traffic management and monitoring, thereby reducing congestion and making it more efficient.

According to the U.S. National Telecommunications and Information Administration, the 5G deployment will unlock vast possibilities for smart city development. In addition, the European Commission estimates that the penetration of 5G into the urban infrastructure will enable more efficient energy usage by 30% due to smarter management of the grid. Smart city infrastructure growth will consequently trigger higher demand for 5G services worldwide.

5G-Enabled Robotics Revolutionizing Remote Operations in Hazardous Environments

5G-enabled robotics will open tremendous opportunities for industries that require remote-controlled operation in hazardous environments, for example, in mining or disaster zones or nuclear facilities. Ultra-low latency and high-speed connectivity will allow for real-time remote control from a distance. This opens up the possibility of faster interventions without putting human workers at risk. It makes possible the deployment of advanced robotics for search and rescue missions, site inspection, hazardous material handling, and much more.

The U.S. Department of Energy believes that using 5G in industrial robotics will improve safety and efficiency in operations by making possible better communication and data transfer between remote devices. More automation by industries is set to create increasing demand for 5G-enabled robotics solutions, thereby fueling further innovation and expansion of the market.

Industry Experts Opinion

“Our focus on providing complete solutions to customers is supported by our comprehensive, proven portfolio of devices and system-level solutions. As LG is transformed into a smart life solutions company, collaborations with a technology leader like Nextivity will enable us to provide enterprise customers the fastest route to seeing the impact of 5G in their businesses.”

• Joon-sung Lee, vice president of the Private Network Business Division at LG Electronics

“5G is a catalyst for digital transformation and AI adoption; its acceleration can bring immense benefits to businesses and consumers across industries. The partnership between FPT and Ericsson in Vietnam will not only establish a stronger foundation for the country’s digital landscape but also leverage both companies' strengths to deliver smarter, more scalable solutions that expand beyond Vietnam to meet the evolving needs of today’s connected world.”

• Mr. Pham Minh Tuan, FPT Corporation Executive Vice President, and FPT Software Chief Executive Officer

Segment Analysis

Based on the component, the 5G Technology market has been classified into hardware, software, and services. Hardware currently dominates the market as the setup of 5G networks involves major investment in physical infrastructure, for instance, in base stations, antennas, and routers. All these hardware elements help provide the connectivity, network coverage, and capacity required in high-speed networking. The critical demand for hardware is still a leading growth factor for the 5G market. Additionally, advancements in 5G-specific chipsets and devices contribute significantly to the hardware market's dominance. 

Based on the technology, the 5G Technology market has been classified into Sub-6 GHz, mmWave, and others. Currently, sub-6 GHz leads in the market because it provides an adequate balance between coverage, speed, and reliability, thus making it appropriate for broad rollouts. Sub-6 GHz offers more coverage and deeper penetration through obstacles than mmWave, which is better suited for high-density urban areas. It is less impacted by environmental factors and can be efficiently deployed both in urban and rural areas, which makes it a leader in the global rollout of 5G.

Regional Analysis

North America presently remains the largest region for the 5G technology market, particularly in the United States. The U.S. has heavily been investing in 5G infrastructures, and the larger telecom companies such as Verizon, AT&T, and T-Mobile have led on nationwide 5G networking deployment. The technological support in the region, increasing demand from consumers for rapid connectivity, and favorable policy approaches by the government give way to the growth and expansion of 5G adoption.

Moreover, North America has led in the adoption of 5G in such sectors as automotive, healthcare, and entertainment, which has caused its wide adoption and has placed it on top in terms of market dominance. Further growth in 5G services across rural areas and IoT support North America's leading position.  

The fastest growing region for the 5G technology market is Asia-Pacific, with China, South Korea, and Japan at the front line of 5G deployments. China invests highly in 5G infrastructure and expands its coverage of the 5G network fast. This is a region driven by strong government support, high mobile penetration rates, and a very robust technology ecosystem. Acceleration of the expansion market is happening in APAC, with early adoption by industries such as manufacturing, smart cities, and automotive. In addition, there is an increasing number of devices and innovative use cases related to the region's 5G-enabled devices, propelling fast growth in 5G services in Asia-Pacific.

Competitive Landscape

The 5G technology market, in terms of competitive landscape, is extremely dynamic. This is particularly because Qualcomm, Nokia, and Samsung lead the process of developing the 5G infrastructure, chipsets, and network solutions, which are vital for ensuring the proper development of the needed infrastructure. Qualcomm keeps innovating with 5G chipsets, providing essential technology for mobile devices. Some of the most recent deals involve multiple 5G contracts between Ericsson and telecom operators across different nations, as well as further expansion by Samsung into European and Asian markets.

T-Mobile and Verizon are also racing to expand 5G networks aggressively with an emphasis on coverage and speed for their customers. These players are also working on integrating 5G with emerging technologies like IoT, cloud computing, and AI as the adoption of 5G continues to accelerate in the market.

5G Technology Market, Company Shares Analysis, 2024

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Recent Developments:

• In December 2024, Nextivity, the leader in networking coverage technology, today announced a collaboration with global innovator LG Electronics (LG) on combined private 5G offerings designed to accelerate, simplify, and maximize the impact of 5G for enterprise customers. The two global organizations' complementary expertise in private 5G and in-building cellular coverage.
• In November 2024, Global Technology Corporation FPT and Global ICT leader Ericsson signed up for a partnership to step up 5G and drive advancements in artificial intelligence as well as digital transformation. Together, this collaboration is anticipated to lay the foundation of an international partnership to further accelerate 5G in enterprises.

Report Coverage:

By Component

• Hardware
• Software
• Services

By Device Type

• Smartphones
• Wearables
• Laptops/Tablets
• Automotive Devices
• IoT Devices

By Technology

• Sub-6 GHz
• mmWave
• Others

By Application

• Enhanced Mobile Broadband (eMBB)
• Massive Machine-Type Communications (mMTC)
• Ultra-Reliable Low Latency Communications (URLLC)
• Fixed Wireless Access (FWA)
• Others

By End-user

• Telecommunications
• Automotive
• Healthcare
• Retail
• Smart Cities
• Others

By Region

North America

• U.S.
• Canada

Europe

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

Asia Pacific

• China
• Japan
• India
• Australia
• South Korea
• Singapore
• Rest of Asia Pacific

Latin America

• Brazil
• Argentina
• Mexico
• Rest of Latin America

Middle East & Africa

• GCC Countries
• South Africa
• Rest of Middle East & Africa

List of Companies:

• Qualcomm
• Huawei Technologies
• Nokia
• Ericsson
• Samsung Electronics
• Intel Corporation
• Cisco Systems
• ZTE Corporation
• LG Electronics
• Broadcom
• AT&T Inc.
• Verizon Communications
• T-Mobile US
• China Mobile Ltd.
• SK Telecom

Frequently Asked Questions (FAQs)