5G Services Market

The global 5G Services market size is projected to grow from USD 98.3 billion in 2023 to USD 427.7 billion by 2028 at a Compound Annual Growth Rate (CAGR) of 34.2%. The ascendancy of transformative technologies such as artificial intelligence (AI), augmented reality (AR), and virtual reality (VR) hinges on the foundational support of robust and high-speed connectivity, with 5G emerging as a pivotal enabler. The capabilities of 5G, characterized by significantly enhanced data transfer speeds, low latency, and the ability to connect a massive number of devices simultaneously, play a catalytic role in driving the development and widespread adoption of applications reliant on seamless and responsive connectivity. In the context of AI, 5G facilitates the rapid exchange of large datasets crucial for training sophisticated machine learning models and fostering innovations in predictive analytics and decision-making. For AR and VR applications, 5G's low latency ensures real-time responsiveness, creating immersive and interactive experiences that extend beyond entertainment to encompass fields such as remote training, collaborative workspaces, and virtual simulations. The synergy between 5G and these emerging technologies not only propels technological advancements but also opens avenues for novel applications that have the potential to reshape industries and enhance the way we perceive and interact with the digital world.

Top 5G Services Companies include

• China Mobile (China)
• SK Telecom (South Korea)
• Verizon (US)
• BT Group (UK)
• Deutsche Telekom (Germany) and many more....

It's important to note that this is not an exhaustive list, and the 5G landscape is constantly evolving. Additionally, depending on your specific region, other providers might be prominent players in the 5G service market.

To know about the assumptions considered for the study download the pdf brochure

China Mobile

China Mobile is a provider of mobile voice and multimedia services through its nationwide mobile telecommunications network across China, with its operations divided into two core segments. The first segment primarily focuses on providing a wide range of Telecommunication services, including Mobile Business, which offers mobile voice and data services to a vast subscriber base, and Broadband Business, delivering high-speed internet connectivity to households and businesses. Furthermore, the Corporate Business arm caters to the unique communication needs of corporate clients, offering tailored solutions to enhance productivity and efficiency. The second segment encompasses the Sale of Products and Other services, featuring an array of devices and accessories to complement their telecommunication offerings. China provides communications and information services in all 31 provinces, autonomous regions and directly administered municipalities throughout the mainland of China and in Hong Kong, SAR. As of 31 December 2022, China Mobile had a total of 975 million mobile customers and 272 million wireline broadband customers. In terms of the 5G segment, China Mobile combined 5G with AICDE capabilities, to facilitate 5G smart manufacturing, 5G remote medical services, 5G automated mining, and ports. The company is leveraging the 5G network to develop the information and communications services industry further.  China Mobile has a geographical presence in North America, Asia Pacific, and Latin America.

SK Telecom

SK Telecom, is a South Korean telecommunications and technology company. SK Telecom operates in five distinct business groups that contribute to its comprehensive range of services. In the Fixed/Mobile Communication segment, SK Telecom offers voice and data services to ensure seamless connectivity for both individual consumers and businesses. The Media division extends beyond traditional telecom services by delivering a dynamic mix of content, T-commerce, and advertising, thereby enriching the realms of entertainment and commerce. The Enterprise unit employs cutting-edge technologies, including AI, 5G, and IoT, to enhance productivity and competitiveness. It achieves this by providing advanced solutions in data center management, cloud services, and AIoT applications. The AIVERSE division leverages unique AI technologies to create immersive virtual reality experiences, including subscription services and the development of the metaverse. Positioned as a leading subscription service in Korea, T Universe continually expands its product range and enhances the customer experience. SK Telecom's Connected Intelligence division provides innovative services in Urban Air Mobility (UAM), robotics, and autonomous driving vehicles. These offerings are made possible through the integration of AI technology with a robust network and mobility platform, shaping the future of intelligent mobility solutions. SK Telecom's mobile division has reached over 13 million 5G customers by emphasizing unique strengths, such as having the largest 5G coverage and the fastest speeds in South Korea, with a focus on gaining a competitive edge in the market. SK Telecom has a geographical presence in Asia Pacific.

Verizon (US)

Verizon Communications Inc., headquartered in New York City, is one of the largest telecommunications companies in the United States. Established in 2000 from the merger of Bell Atlantic and GTE, Verizon offers a broad range of services including wireless communications, broadband and fiber optic internet, digital television, and enterprise solutions. Its wireless division, Verizon Wireless, is a leading mobile operator in the U.S., renowned for its extensive coverage and reliable service. Verizon has been at the forefront of technological advancements, particularly in the rollout of 5G technology, and continues to expand its offerings in internet-of-things (IoT) and smart city solutions.

BT Group (UK)

BT Group plc, formerly known as British Telecom, is a leading telecommunications and broadband provider in the United Kingdom. Headquartered in London, BT has a long history dating back to the founding of the Electric Telegraph Company in 1846. The company provides a wide array of services including fixed-line telephony, broadband internet, digital television, and IT services. BT is known for its significant contributions to the development of the UK’s telecommunications infrastructure, including the rollout of fiber optic broadband and the deployment of 5G services. BT also operates in the enterprise market, offering networked IT services and solutions to businesses globally through its BT Global Services division.

Deutsche Telekom (Germany)

Deutsche Telekom AG, based in Bonn, Germany, is one of the world's leading integrated telecommunications companies. Founded in 1995 following the privatization of Deutsche Bundespost, Deutsche Telekom offers a diverse range of services including fixed-line and mobile communications, broadband internet, digital television, and IT services. Its mobile subsidiary, T-Mobile, operates in multiple countries and is especially prominent in the U.S. and Europe. Deutsche Telekom is known for its strong focus on innovation and digital transformation, investing heavily in the expansion of high-speed fiber optic networks and the development of 5G technology. The company also provides a range of digital services and solutions aimed at both consumers and businesses.

Related Reports:

5G Services Market Size, Share, Growth Analysis, by Communication Type, End User (Consumers and Enterprises), Application (Industry 4.0, Smart Cities), Enterprises (Manufacturing, Transportation & Logistics), and Region - Global Industry Forecast to 2028