Global 5G Technology Market Trends, Forecast Report 2025-2037
5G Technology Market size was over USD 29.8 billion in 2024 and is set to cross USD 4.1 trillion by the end of 2037, witnessing a CAGR of over 47% during the forecast period, between 2025 and 2037. In 2025, the industry size of 5g technology is estimated at USD 398.17 million.
A key driver of the market's expansion is the rapid deployment of 5G globally, as economies seek to improve their nationwide connectivity. The proliferation of smartphones has ensured that the demand for ultra-fast connectivity increases manifold. To ensure connectivity without latency, the requirement for 5G technology is exponential. The table below highlights 5G coverage across different countries as per the OECD Digital Economy Outlook 2024:
|
Country |
5G Coverage (%) (2024) |
|
United States |
68.4 |
|
South Korea |
63 |
|
Finland |
58 |
|
Australia |
57 |
|
Japan |
56 |
Another major market for the market’s growth is the investments made to advance the technology. For instance, in January 2024, the U.S. Department of Commerce's National Telecommunications and Information Administration (NTIA) awarded a significant investment of USD 50 million to establish the Open RAN Center for Integration & Deployment (ORCID) in a bid to hasten the adoption of Open RAN technologies. The table below highlights additional key market indicators highlighting the growth of the 5G technology sector:
|
Indicator |
Value/Status |
|
U.S. 5G Smart Factory Investment |
$100 million (April 2024) |
|
India's Mobile Phone Exports (2023) |
$10.5 billion (FY 2022-2023) |
|
NTIA Grant for Open RAN Center |
$50 million (January 2024) |
|
NIST Funding Request for 5G Standards |
$1.4 million (March 2023) |
5G Technology Market Growth Drivers and Challenges
Growth Drivers
- Government initiatives and infrastructure investments: With a surging push to implement 5G across multiple countries worldwide, the opportunities are rife for key players in the market. Additionally, with efforts intensifying to lay the foundation for the advent of 6G, the investments in existing 5G infrastructure is poised to remain high. For instance, more than USD 80 billion has been allocated in the U.S. between 2020 and 2025 for technical training in wireless and broadband. Additional investments are funneled under the aegis of the Infrastructure Investment and Jobs Act. Such proactive investments improve the telecommunications workforce, whilst improving the 5G infrastructure development.
- Expansion of smart cities and IoT applications: The increasing investments in smart city initiatives have favorably impacted the demand for 5G technology. To create an interconnected city manned by smart systems, it is imperative to invest in 5G infrastructure. Additionally, IoT applications require ultra-fast connectivity for seamless functioning. The convergence of these trends, along with the increase in smartphone users, is expected to create a sustained demand for 5G technology throughout the market’s forecast timeline. The table below highlights recent major investments made in smart cities:
|
City/Region |
Investment Amount and Status |
Key Focus Areas |
|
India (Smart Cities Mission) |
USD 86.46 billion (total allocated), Ongoing as of 2025 |
Urban infrastructure, digital services, mobility |
|
Sino-Singapore Tianjin Eco-city, China |
Not specified, Ongoing as of 2024 |
Sustainable development, smart infrastructure |
|
Istanbul, Turkey |
Not specified, Implementation updates in 2023 |
AI-based traffic management |
Pricing Trends in the 5G Technology Market
Over the past five years, the global 5G technology market has experienced significant price fluctuations influenced by factors such as technological advancements and regional developments. North America experiences a 5.1% decrease annually from 2020 to 2024, dropping from USD 100.3 per unit to USD 80.3 per unit. In Europe, the price decrease was comparatively less during the same period, while in APAC, the prices have remained stable. While North America was impacted by the advancements in manufacturing efficiency, Europe was influenced by comparatively slower infrastructure development. In APAC, the economies of scale in manufacturing kept the prices stable. The table highlights the price trends of the market.
|
Region |
2020 Price |
2021 Price |
2022 Price |
2023 Price |
2024 Price |
Annual Decrease |
|---|---|---|---|---|---|---|
|
North America |
$100.3 |
$95 |
$90 |
$85 |
$80.3 |
5.1% |
|
Europe |
$95.2 |
$92 |
$89 |
$85.4 |
$82 |
3% |
|
Asia |
$90 |
$88 |
$86 |
$84 |
$82 |
2% |
Challenges
- High deployment costs and infrastructure investment: The 5G technology market has faced considerable impediments related to the high costs associated with infrastructure deployment. Moreover, the establishment of 5G networks requires considerable investment in small cells, new base stations, and advanced technologies such as beamforming and Massive MIMO. The market analysis reveals that the average cost per base station installation is estimated to be around USD 200,001, which makes it financially challenging for telecom operators. In addition, the shift to 5G requires a dense network of small cells, advanced antennas, and fiber optic cables, which are considerably more expensive than the infrastructure used for the previous generations of wireless networks.
5G Technology Market: Key Insights
|
Base Year |
2024 |
|
Forecast Year |
2025-2037 |
|
CAGR |
47% |
|
Base Year Market Size (2024) |
USD 29.8 billion |
|
Forecast Year Market Size (2037) |
USD 4.1 trillion |
|
Regional Scope |
|
5G Technology Segmentation
Communication Infrastructure (Macro Cell, Small Cell, RAN, and DAS)
The macro cell segment is poised to hold a leading revenue 5g technology market share of 42.3% throughout the forecast timeline. The macro cells have emerged as an integral part of the 5G networks, especially in urban and suburban deployments. Macro cells solve a key pain point for end users by supporting high user densities, aligning with 5G deployment strategies. The surging demand for enhanced mobile broadband (eMBB) services is impacted by the increasing demand for applications such as augmented reality and high-definition video streaming, necessitating the deployment of macro cells. For instance, in October 2021, the FCC auctioned the mid-band spectrum to accelerate 5G rollout in the U.S., which in turn impacted the macro cell infrastructure expansion.
Network Technology (NFV, SDN, MEC, FC)
The NFV segment is poised to account for 38.6% revenue 5g technology market share by the end of 2037. A key facet is NFV being able to decouple network functions from proprietary hardware, which allows them to run as software on standardized servers. Another factor driving the application of NFV is the surge in data traffic associated with the proliferation of IoT devices. Additionally, the rise in deployment of VFNs by telecom operators in a bid to reduce operational costs boosts the demand for NFVs.
Our in-depth analysis of the global 5G technology market includes the following segments:
|
Communication Infrastructure |
|
|
Network Technology |
|
|
Offering |
|
|
Chipset Type |
|
|
Application |
|
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Customize this Report5G Technology Industry - Regional Scope
North America Market Forecast
The North America 5G technology market is poised to account for a dominant revenue share of 46.7% throughout the forecast period. The North America market’s growth curve is attributed to substantial investments in mmWave 5G infrastructure. In February 2024, Verizon deployed over 130,000 0-RAN-capable radios across more than 14,500 virtualized sites. Additionally, in August 2023, Pivotal Commware, a leader in 5G mmWave infrastructure products, announced the closing of a USD 100 million Series D funding round.
The U.S. 5G technology market is projected to maintain its leading share in North America. The U.S. is at the forefront of advancements in 5G technology as well as deployment. The trends are supported by the rising consumer demand for faster data speeds. The U.S. market is also impacted by major investments, such as the Public Wireless Supply Chain Innovation Fund, which allocated USD 1.5 billion to develop open and interoperable networks in August 2022. The table below highlights key stats related to 5G for the U.S. market as highlighted by Ericsson’s report.
|
Metric |
Value |
Date |
|---|---|---|
|
Total Cell Sites (all tech) |
350,100–400,100 |
January 2024 |
|
Estimated 5G-Enabled Sites |
~245,100–280,100 (70% of total) |
January 2024 |
|
Small Cell Installations |
~175,200 |
January 2024 |
|
Low-Band 5G Population Coverage |
~301 million (90% of the U.S. population) |
December 2023 |
|
Mid-Band 5G Coverage |
210–301 million |
December 2023 |
APAC Market
The APAC 5G technology market is projected to maintain the fastest expansion by maintaining a CAGR of 46.6% throughout the forecast timeline. The growth in APAC is primarily attributed to the explosion of high-average revenue per user (ARPU) 5G services, especially in countries such as China and India with a large volume of users. Additionally, APAC has had the largest smartphone user base, and GSMA projects that there will be over 3 billion smartphone connections by 2030. This is expected to create substantial investments in the market.
The China 5G technology market is estimated to hold a leading revenue share in APAC. GSMA estimates that more than 90% of mobile subscriptions will be on 5G networks in China by 2029. The China 5G technology market’s expansion is further attributed to the massive investments in 5G infrastructure, with the MIIT reporting the deployment of more than 4 million 5G base stations in 2024, with the number expected to increase to 4.5 million by the end of 2025.
Major Players of the 5G Technology Landscape
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
Key players such as Huawei, Qualcomm, Samsung, Nokia, Ericsson, etc. These companies are maintaining leading revenue shares due to the major R&D investments, along with strategic partnerships to improve 5G infrastructure. Key players are focusing on network virtualization and open RAN architecture adoption to further reduce costs and remain competitive against the backdrop of the rising 5G connectivity worldwide. The table below highlights the major players in the 5G technology market:
|
Company Name |
Country |
Revenue Share (%) 2024 |
|
Huawei Technologies Co., Ltd |
China |
18.7% |
|
Ericsson AB |
Sweden |
14.3% |
|
Nokia Corporation |
Finland |
12.9% |
|
Qualcomm Incorporated |
USA |
11.1% |
|
Samsung Electronics |
South Korea |
10.6% |
|
ZTE Corporation |
China |
XX |
|
Cisco Systems, Inc. |
USA |
XX |
|
NEC Corporation |
Japan |
XX |
|
Fujitsu Limited |
Japan |
XX |
|
Tech Mahindra Limited |
India |
XX |
|
Telstra Corporation Ltd. |
Australia |
XX |
|
Mavenir Systems, Inc. |
USA |
XX |
|
Maxis Berhad |
Malaysia |
XX |
|
Samsung SDS |
South Korea |
XX |
|
Hitachi, Ltd. |
Japan |
XX |
Below are the areas covered for each company that is a key player in the 5G Technology market:
In the News
- In March 2024, Ericsson announced the launch of the latest 5G Core Network software, aiming to support ultra-reliable low latency communications (URLLC) and massive IoT connectivity. Additionally, as per the NTIA, this release contributed to a more than 10% increase in Ericsson’s revenue from deployments in North America in Q1 2024.
- In January 2024, Qualcomm introduced the Snapdragon X75 Modem-RF System, which supported 5G advanced features. The launch was commercialized in early 2024. Additionally, the FCC reported that the device adoption accelerated by more than 15% in Q1 2024, especially in Europe and North America.
Author Credits: Abhishek Verma
- Report ID: 2257
- Published Date: May 28, 2025
- Report Format: PDF, PPT
