Global 5G Technology Market Size Likely to Grow at a CAGR of 64.5% By 2034

As per the 5G Technology Market size analysis conducted by CMI Team, the global 5G Technology market is expected to record a CAGR of 64.5% from 2025 to 2034. In 2025, the market size is projected to reach a valuation of USD 274 Billion. By 2034, the valuation is anticipated to reach USD 24,231 Billion.

Overview

According to industry experts at CMI, like 4G and previous networks, 5G wireless technology distributes data over radio waves. 5G, on the other hand, has more bandwidth since it uses higher frequencies. The speeds are faster and the latency is reduced, thus there is less delay. 5G has superior antenna technology, which permits more than one device connect at once. This strategy builds a lot of little cell towers that are close to each other.

5G is better for tasks that utilize a lot of data, like streaming videos, because it reacts faster. 5G wireless technology has a number of great features, such as peak data speeds of several Gbps, very low latency, increased dependability, larger network capacity, better availability, and more flexibility. These can link up new areas and give people new experiences.

Key Trends & Drivers

• Growing partnership among the market players: The rising partnership among the key market players are expected to florish the industry expansion over the forecast period. For instance, in September 2025, Nokia and Kongsberg Defence & Aerospace (KONGSBERG), Norway’s top defense technology company that focuses on cutting-edge technologies for land, sea, air, and space, have signed a memorandum of understanding (MoU) to work together to make tactical communications solutions better for the defense industry. KONGSBERG knows a lot about military tactical communications, and Nokia is a leader in 4G and 5G wireless technologies for businesses and consumers. They will work together to develop networks that are safe, robust, and speedy for defense groups and their friends. The goal of the agreement is to make 5G easier to use in tactical systems and to make communication during conflict better so that it performs better and is more reliable. It will also look at the future of tactical 5G capabilities, how they might work with sensors and unmanned systems, and how they might be used in European Defense Fund programs like 5G COMPAD and the Federated Advanced Cyber Physical Test Range (FACT) program. The companies will look at new technologies, such Nokia’s 6G “network as a sensor” (Integrated Sensing and Communication), to enable soldiers be more aware of their surroundings and ready for battle in the long run.

• Rising mobile data traffic: The global 5G technology business is growing quickly because of the rise in mobile data traffic. For instance, by 2025, people around the world will use more than 200 exabytes of mobile data every month. By 2030, 5G networks will carry 80% of all mobile traffic. The average smartphone user would use about 23 GB of data each month in 2025, which is high as compared to 2022. Since the mobile apps uses significant amount of data like 4K/8K video streaming, cloud gaming, AR/VR, and the growth of IoT installations in smart cities, healthcare, and industrial automation. Thus, the growing mobile data traffic drives the industry growth.

Report Scope

SWOT Analysis

• Strengths: The core strength of the market is its high network connectivity. The download speeds of 5G network up to 100 times faster than 4G.

• Weakness: The high deployment and infrastructure costs pose a major weakness to the market expansion, particularly for dense urban areas requiring small cell networks.

• Opportunities: The expansion of private 5G networks in manufacturing, logistics, healthcare, and smart cities for tailored connectivity solutions offer a potential growth opportunity.

• Threats: The cybersecurity concern including hacking, data breaches, and privacy because of wide devices connection ecosystem.

List of the prominent players in the 5G Technology Market:

• Airspan Networks Inc.
• AT&T Inc.
• Cisco Systems Inc.
• Bharti Airtel
• Reliance Jio
• Comba Telecom Systems Holdings Limited
• Hewlett Packard Enterprise Company
• Huawei Technologies Co. Ltd.
• Mavenir Systems Inc.
• Deutsche Telekom AG
• Ericsson
• Huawei Technology
• Nokia
• Orange S.A.
• Qualcomm Inc.
• Others

The 5G Technology Market is segmented as follows:

By Component

• Hardware
• Software
• Services

By Communication Type

• Enhanced Mobile Broadband
• Massive Internet of Things
• Mission Critical Services

By Technology

• Radio Access Technologies (RAT)
• Wi-Fi
• High-Speed Package Access (HSPA)
• Global System for Mobile (GSM)
• Worldwide Interoperability for microwave access (WiMAX)

By Application

• IT & Telecom
• Consumer Electronics
• Industrial Automation
• Automotive
• Aerospace & Defense
• Healthcare
• Others

Regional Coverage:

North America

• U.S.
• Canada
• Mexico
• Rest of North America

Europe

• Germany
• France
• U.K.
• Russia
• Italy
• Spain
• Netherlands
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• New Zealand
• Australia
• South Korea
• Taiwan
• Rest of Asia Pacific

The Middle East & Africa

• Saudi Arabia
• UAE
• Egypt
• Kuwait
• South Africa
• Rest of the Middle East & Africa

Latin America

• Brazil
• Argentina
• Rest of Latin America