The 5G services market size is expected to grow from US$ 86.22 billion in 2022 to US$ 3,244.40 billion by 2030; it is estimated to record a CAGR of 57.4% from 2022 to 2030.

The Enhanced Mobile Broadband (eMBB) sector is predicted to increase significantly during the forecast period. The large share can be attributed to 5G network operators' early emphasis on providing enhanced internet capabilities for applications such as uninterrupted video chats, AR/VR, UHD video, and high-speed cloud-based gaming. eMBB provides high- data speeds for home and commercial use. It is also expected that eMBB would facilitate a wide range of use cases that will eventually support the market expansion for the segment, such as in-car infotainment, 4K video access, and virtual meetings.

The world is witnessing a widespread acceptance of Internet of Things (IoT) devices across various industries. The IoT ecosystem relies heavily on reliable and efficient connectivity to enable seamless communication and data exchange between devices. 5G networks are well-suited to cater to this demand, offering secure and dedicated connectivity for IoT devices. By providing a robust and high-performance network infrastructure, 5G services enable organizations to harness the potential of IoT technology effectively. Reports state that 5G networks will operate ten times faster than the existing LTE networks. This speed boost enables IoT devices to exchange data and communicate more quickly than before. 5G is a powerful enabling technology that opens up new use cases that will use edge computing to improve the effectiveness and efficiency of the Internet of Things. The convergence of edge computing and 5G can open up new avenues for innovation and applications across various industries.

For instance, IBM and Verizon are developing potential 5G and edge solutions such as remote-controlled robotics, near real-time video analysis, and other factory-floor automation. 5G enables easier connectivity of various sensors in buildings and large facilities, opening up new possibilities for occupancy control, energy efficiency, and visitor experience. Thus, the 5G network is designed to service various IoT use cases. This will make it possible to implement new pricing structures and increase wireless connectivity in a wide range of Internet of Things applications.

Huawei Technologies Co., Ltd.; Telefonaktiebolaget LM Ericsson; Nokia Corporation; Samsung Electronics Co., Ltd.; ZTE Corporation; Verizon Communications Inc.; AT& T Inc.; Deutsche Telekom AG; Orange S.A.; and Vodafone Group Plc are among the key 5G services market players profiled in this market study. Several other essential 5G services market players were also analyzed for a holistic view of the market and its ecosystem.

The overall 5G services market size has been derived using both primary and secondary sources. To begin the 5G services market research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the 5G services market. The process also serves the purpose of obtaining an overview and market forecast of the 5G services market growth with respect to all market segments. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data and gain more analytical insights about the topic. Participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers-along with external consultants such as valuation experts, research analysts, and key opinion leaders-specializing in the 5G services market.