The North America 5G services market was valued at US$ 25,375.03 million in 2023 and is expected to reach US$ 8,87,334.55 million by 2031; it is estimated to register a CAGR of 55.9% from 2023 to 2031.
Characteristics of 5G, such as ultra-low latency network, quicker internet, and broader device support, contribute to Industry 4.0, smart cities, driverless cars, and other innovations that improve the quality of life. 5G adoption is still growing despite ongoing economic difficulties and geopolitical upheaval in certain areas. Service providers continue to deploy 5G all around the world. According to the Ericsson mobility report, ~280 service providers worldwide have already introduced 5G services for sale, and over 40 have installed or introduced 5G standalone (SA) as of 2023. Enhanced mobile broadband (eMBB) is the most popular 5G service offered to customers by the service providers. The uptake of 5G subscriptions globally continues to be strong. According to GSMA Intelligence, consumers' 5G connections surpassed 1 billion at the end of 2022. Moreover, according to estimates from the Global Mobile Suppliers Association (GSA), there were 1.15 billion 5G users at the end of 2022—a surge of ~90% annually on 619 million users in 2021. In addition, according to data from SellCell, there were almost 951 million 5G users worldwide in 2022; however, predictions for 2023 showed a 50% increase to 1.48 billion users. The table below shows the increase in worldwide 5G subscribers:
|
Year |
Number of 5G Subscribers Worldwide (in million) |
|
2019 |
12.47 |
|
2020 |
158.41 |
|
2021 |
509.62 |
|
2022 |
950.90 |
|
2023 |
1,480.50 |
|
2024 |
2,048.57 |
|
2025 |
2,638.60 |
Source: SellCell.com
After debuting in several major cities worldwide, 5G technology is rapidly expanding. The increasing number of 5G subscribers fuels the need for 5G services such as design and network consulting, planning, deployment and integration, network optimization, and 5G service quality management, propelling the growth of the 5G services market.
The US is expected to hold the largest 5G services market share and record the highest CAGR during 2022–2030. The high rate of digitization in various industries in the US fueled the growth of the 5G services market. The increasing adoption of digitization and automation across various industries such as manufacturing, retail, and BFSI is further contributing to the rise in demand for advanced technologies for efficient and real-time communication and data transmission. For instance, in April 2022, Pete’s adopted self-checkout systems across its 50 retail stores in the US. Moreover, the presence of a large number of market players, including AT&T, Verizon, T-Mobile, Dish, and Comcast, in the US contributes to the growth of the 5G services market.
The North America 5G services market is categorized into type, end user, and country.
By type, the North America 5G services market is segmented into enhanced mobile broadband (eMBB), massive machine-type communications (mMTC), ultra-reliable low latency (uRLLC), and fixed wireless access (FWA). The enhanced mobile broadband (eMBB) segment held the largest share of the North America 5G services market share in 2023.
In end user, the North America 5G services market is bifurcated into enterprises and consumers. The enterprises segment held a larger share of the North America 5G services market share in 2023. Enterprises is sub segmented into IT & telecom, manufacturing, healthcare, BFSI, retail & e-commerce, and others.
Based on country, the North America 5G services market is segmented into the US, Canada, and Mexico. The US segment held the largest share of North America 5G services market in 2023.
Deutsche Telekom AG, Huawei Technologies Co Ltd, Nokia Corp, Orange SA, Samsung Electronics Co Ltd, Telefonaktiebolaget LM Ericsson, Verizon Communications Inc, Vodafone Group Plc, and ZTE Corp are some of the leading companies operating in the North America 5G services market.
| Report Attribute | Details |
|---|---|
| Market size in 2023 | US$ 25,375.03 Million |
| Market Size by 2031 | US$ 8,87,334.55 Million |
| CAGR (2023 - 2031) | 55.9% |
| Historical Data | 2021-2022 |
| Forecast period | 2024-2031 |
| Segments Covered |
By Type
|
| Regions and Countries Covered |
North America
|
| Market leaders and key company profiles |
|
The North America 5G Services Market is valued at US$ 25,375.03 Million in 2023, it is projected to reach US$ 8,87,334.55 Million by 2031.
As per our report North America 5G Services Market, the market size is valued at US$ 25,375.03 Million in 2023, projecting it to reach US$ 8,87,334.55 Million by 2031. This translates to a CAGR of approximately 55.9% during the forecast period.
The North America 5G Services Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the North America 5G Services Market report:
The North America 5G Services Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The North America 5G Services Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the North America 5G Services Market value chain can benefit from the information contained in a comprehensive market report.
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