5G Market Demand and Service Revenue Forecast by Regional Trends, 2023-2028
All the vital news, analysis, and commentary curated by our industry experts.
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.
Buy the Full Report for More 5G Market Insights
|Market Size (2023)
· North America
· Latin America
· Africa & the Middle East
|Enquire & Decide
|Discover the perfect solution for your business needs. Enquire now and let us help you make an informed decision before making a purchase.
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.
Buy Full Report for More 5G Market Dynamics
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 (%)
Buy Full Report for More Regional Insights into the 5G Market
Segments Covered in the Report
5G Market Regional Outlook (Value, $ Billion, 2020-2028)
- North America
- Latin America
- Africa & the Middle East
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.
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
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
What was the mobile 5G services market size in 2023?
Mobile 5G services generated $350.6 billion in 2023.
What is the growth driver of 5G financial impact?
The financial impact of 5G is expected to see strong growth over the forecast period as more mobile network operators invest in 5G and launch it commercially.
Which is the leading mobile 5G market in the forecast period?
Asia-Pacific will remain the largest mobile 5G market throughout the forecast period.
Which is the leading region in terms of 5G mobile revenue?
North America will rank first in terms of 5G mobile revenue by 2028.
Tel +44 20 7947 2745
Every customer’s requirement is unique. With over 220,000 construction projects tracked, we can create a tailored dataset for you based on the types of projects you are looking for. Please get in touch with your specific requirements and we can send you a quote.
Business Intelligence & Marketing Manager, SAL Heavy Lift
“The GlobalData platform is our go-to tool for intelligence services. GlobalData provides an easy way to access comprehensive intelligence data around multiple sectors, which essentially makes it a one-for-all intelligence platform, for tendering and approaching customers.
GlobalData is very customer orientated, with a high degree of personalised services, which benefits everyday use. The highly detailed project intelligence and forecast reports can be utilised across multiple departments and workflow scopes, from operational to strategic level, and often support strategic decisions. GlobalData Analytics and visualisation solutions has contributed positively when preparing management presentations and strategic papers.”
Market Analyst & Management, Liebherr-Werk
“COVID-19 has caused significant interference to our business and the COVID-19 intelligence from GlobalData has helped us reach better decisions around strategy. These two highlights have helped enormously to understand the projections into the future concerning our business units, we also utilise the project database to source new projects for Liebherr-Werk to use as an additional source to pitch for new business.”
Head of Key Accounts, Saab AB
Your daily news has saved me a lot of time and keeps me up-to-date with what is happening in the market, I like that you almost always have a link to the source origin. We also use your market data in our Strategic Business Process to support our business decisions. By having everything in one place on the Intelligence Center it has saved me a lot of time versus looking on different sources, the alert function also helps with this.
Marketing Intelligence Manager, Portugal Foods
Having used several other market research companies, I find that GlobalData manages to provide that ‘difficult-to-get’ market data that others can’t, as well as very diverse and complete consumer surveys.
Head of Customer Insight and Research, Standard Chartered
Our experience with GlobalData has been very good, from the platform itself to the people. I find that the analysts and the account team have a high level of customer focus and responsiveness and therefore I can always rely on. The platform is more holistic than other providers. It is convenient and almost like a one stop shop. The pricing suite is highly competitive and value for our organisation.
I like reports that inform new segments such as the analysis on generation Z, millennials, the impact of COVID 19 to our banking customers and their new channel habits. Secondly the specialist insight on affluent sector significantly increases our understanding about this group of customers. The combination of those give us depth and breadth of the evolving market.
I’m in the business of answering and helping people make decisions so with the intelligence center I can do that, effectively and efficiently. I can share quickly key insights that answer and satisfy our country stakeholders by giving them many quality studies and primary research about competitive landscape beyond the outlook of our bank. It helps me be seen as an advisory partner and that makes a big difference. A big benefit of our subscription is that no one holds the whole data and because it allows so many people, so many different parts of our organisation have access, it enables all teams to have the same level of knowledge and decision support.
Head of Consumer Sensory Insights, Givaudan
“I know that I can always rely on Globaldata’s work when I’m searching for the right consumer and market insights. I use Globaldata insights to understand the changing market & consumer landscape and help create better taste & wellbeing solutions for our customers in food, beverage and healthcare industries.
Globaldata has the right data and the reports are of very high quality compared to your competitors. Globaldata not only has overall market sizes & consumer insights on food & beverages but also provides insights at the ingredient & flavour level. That is key for B2B companies like Givaudan. This way we understand our customers’ business and also gain insight to our unique industry”
Senior Account Manager, TSYS
GlobalData provides a great range of information and reports on various sectors that is highly relevant, timely, easy to access and utilise. The reports and data dashboards help engagement with clients; they provide valuable industry and market insights that can enrich client conversations and can help in the shaping of value propositions. Moreover, using GlobalData products has helped increase my knowledge of the finance sector, the players within it, and the general threats and opportunities.
I find the consumer surveys that are carried out to be extremely beneficial and not something I have seen anywhere else. They provided an insightful view of why and which consumers take (or don’t) particular financial products. This can help shape conversations with clients to ensure they make the right strategic decisions for their business.
One of the challenges I have found is that data in the payments space is often piecemeal. With GD all of the data I need is in one place, but it also comes with additional market reports that provide useful extra context and information. Having the ability to set-up alerts on relevant movements in the industry, be it competitors or customers, and have them emailed directly to me, ensures I get early sight of industry activity and don’t have to search for news.