5G Market Demand and Service Revenue Forecast by Regional Trends, 2023-2028

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5G Demand and Services Market Overview

Mobile 5G services generated $350.6 billion in 2023, representing 40.9% of total mobile service revenue worldwide. The development of the IoT industry, particularly in verticals such as transportation, smart cities, and industry automation, will help support 5G mass-market readiness. Moreover, socio-economic improvements that arise due to 5G implementation have pushed many governments to actively support the rollout of 5G services by creating conductive regulatory environments to unfold 5G’s potential. The 5G market demand report offers an analysis of the growth opportunities in the mobile 5G market, looks at the current state of play, and examines the main growth drivers in five different regions.

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Market Size (2023) $350.6 Billion
Forecast Period 2023-2028
Historical Period 2020-2022
Key Regions ·       Asia-Pacific

·       North America

·       Europe

·       Asia-Pacific

·       Latin America

·       Africa & the Middle East

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5G Market Dynamics

The financial impact of 5G is still relatively limited due to the nascent commercialization of mobile 5G, especially in AME and LATAM. However, it is expected to see strong growth over the forecast period as more mobile network operators invest in 5G and launch it commercially. Effective spectrum licensing will also play a major role in the availability of 5G for high-speed data services, quality, and range of services offered. In addition to its expected growth in uptake and revenues, 5G also has the potential to bring social impact across different regions.

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5G Market Segmentation by Regions

Asia-Pacific will remain the largest mobile 5G market throughout the forecast period, followed by Europe, North America, Africa & Middle East, and Latin America. However, North America will rank first in terms of 5G mobile revenue as it has the highest adoption rate in terms of mobile 5G penetration of the population.

Asia-Pacific:  South Korea was the first market in the world to deploy a nationwide 5G network in April 2019. Since then, the country has continued to develop use cases such as 5G infrastructure for public transportation. As for the rest of APAC, China accounts for the majority of the region’s 5G subscriptions. The growth of 5G subscriptions in APAC will be supported by the growth of consumer and enterprise subscription on the back of new use cases introduced to both segments.

North America: In the US, mobile 5G was commercially launched in 2019 by several mobile network operators (MNOs), while Canadian operators switched to it in 2020. MNOs have increased their 5G network coverage across North America. This increase in network coverage along with a wider availability of 5G-capable mobile devices has increased penetration.

Europe: Most European countries have set clear 5G coverage targets in line with the European Commission’s goal of having 5G in all populated areas of its member states by 2030. By the end of 2023, mobile 5G subscriptions in Europe will reach more than 14% of total mobile subscriptions. Telcos are already working towards providing nationwide 5G coverage that allows for seamless integration of various use cases.

5G Market Analysis by Regions, 2023-2028 (%)

5G Market Analysis by Regions, 2023-2028 (%)

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Segments Covered in the Report

5G Market Regional Outlook (Value, $ Billion, 2020-2028)

  • Asia-Pacific
  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • Africa & the Middle East

Scope

This report provides:

  • Executive summary/key analysis
  • Global Overview: This section provides a general analysis of mobile 5G adoption and revenue trends globally in 2020-2028, looking at the main growth drivers for the period.
  • Regional trends: Five regional profiles are presented providing 2020-2028 mobile 5G adoption forecasts, growth drivers, and revenue opportunities. This section also covers key regional mobile 5G developments including commercialization plans, spectrum allocations, and use cases.

Reasons to Buy

  • “5G Market Demand and Service Revenue Forecast” examines mobile 5G market adoption and revenue growth trends, providing 2022-2028 global and regional subscription and revenue forecasts.
  • The report analyzes the state of the 5G market, the current trends, drivers, and market dynamics leading to 5G service launches and expansion in North America, Asia Pacific, Europe, Africa, the Middle East, and Latin America.
  • This analysis is useful for telecom executives to evaluate their position vis-à-vis the major growth opportunities in 5G and make informed decisions about strategic investments, value propositions, and 5G growth strategies.

AT&T
Antel
Bell
Claro
Entel
Orange
Rogers
Sonatel
Telcel
TIM
Vivo

Table of Contents

  • 1. Executive Summary
  • 2. Global Overview

    • 2.1. Mobile 5G revenue evolution
    • 2.2. Mobile 5G subscription evolution

  • 3. Regional Trends

    • 3.1. Mobile 5G in North America
    • 3.2. Mobile 5G in Asia-Pacific
    • 3.3. Mobile 5G in Europe
    • 3.4. Mobile 5G in Africa and the Middle East
    • 3.5. Mobile 5G in Latin America

  • 4. Appendix

    • 4.1. Related research

Figures

Exhibit 1: Global mobile 5G service revenue & share by region

Exhibit 2: Global mobile 5G subscriptions & uptake by region

Exhibit 3: NA 5G subscriptions & revenue

Exhibit 4: APAC 5G subscriptions & revenue

Exhibit 5: Europe 5G subscriptions & revenue

Exhibit 6: AME 5G subscriptions & revenue

Exhibit 7: LATAM 5G subscriptions & revenue

Frequently asked questions

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