Table of Contents
5G Service Market Overview
5G service providers provide a fifth-generation wireless technology. That significantly enhances data speeds, reduces latency, and increases connectivity compared to 4G LTE.
It offers speeds exceeding 10 Gbps and ultra-low latency of around one millisecond. Enabling real-time applications like autonomous vehicles and remote surgery.
5G supports network slicing, allowing tailored virtual networks for specific applications, and can connect up to one million devices per square kilometer, which is essential for smart cities and IoT.
However, its deployment faces challenges, including high infrastructure costs, regulatory hurdles, and the need for compatible devices. 5G is poised to transform connectivity and drive innovation across multiple sectors.
Market Drivers
The global 5G service market is driven by several key factors. Including the rising demand for high-speed connectivity due to data-intensive applications like video streaming and online gaming.
The growth of Internet of Things (IoT) devices requires seamless connectivity. Further enhances 5G’s appeal, particularly for smart cities and industrial automation.
Technological advancements, such as network slicing and edge computing. Alongside significant investments in infrastructure by telecommunications companies and governments, support market expansion.
Additionally, the shift towards digital transformation across industries fosters the adoption of 5G to improve operational efficiency and customer experiences.
At the same time, government initiatives promote favorable regulations and funding, accelerating growth in the sector.
Market Size
The global 5G services market is projected to reach approximately USD 3,299.8 billion by 2033, up from USD 88.5 billion in 2023. Growing at a compound annual growth rate (CAGR) of 43.6% from 2024 to 2033.
List of Major Companies
These are the top 10 companies operating in the 5G Chipset Market:
Verizon
Company Overview
| Establishment Year | 1983 |
| Headquarter | New York City, New York, U.S. |
| Key Management | Hans Vestberg (CEO) |
| Revenue (US$ Bn) | $ 133.9 Billion (2023) |
| Headcount | ~ 105,400 (2023) |
| Website | https://www.verizon.com/ |
About Verizon
Verizon is a major player in the 5G service providers/sectors, leveraging its robust infrastructure and innovative partnerships to expand its offerings.
In 2023, Verizon Business introduced “On Site 5G,” a private network solution that targets enterprise and public sector clients. Allowing them to deploy custom, high-performance 5G networks in facilities where public 5G coverage may be limited.
This service supports data-intensive applications such as IoT, edge computing, and real-time analytics, enhancing operational efficiency.
Verizon has also engaged in acquisitions, such as its purchase of incubated IT. Which bolstered its capabilities in autonomous mobile robot technology integrated with its 5G platform.
Additionally, strategic collaborations with companies like Accenture and Deloitte have strengthened its 5G ecosystem. Helping accelerate innovation in sectors like retail and industrial manufacturing.
Geographical Presence
Verizon Communications Inc. is a leading telecommunications company primarily operating in the United States, where it offers extensive wireless services. Including 4G LTE and 5G networks, and broadband services through its Fios brand, particularly in the Northeastern states.
The company also provides enterprise solutions across various sectors. While its primary focus remains domestic, Verizon engages in international operations through strategic alliances and partnerships, aiming to enhance its global reach.
Additionally, there are ongoing efforts to expand into emerging markets in Latin America and Asia, leveraging its technology and expertise.
Recent Developments
- In September 2024, Verizon Innovative Learning opened 18 new Verizon Innovative Learning Labs.
- In September 2024, Verizon Business partnered with Monumental Sports & Entertainment to improve cyber resilience and security across MSE’s sports and entertainment operations.
ATnT
Company Overview
| Establishment Year | 1983 |
| Headquarter | Dallas, Texas, United States |
| Key Management | John Stankey (CEO) |
| Revenue (US$ Bn) | $ 122.4 B (2023) |
| Headcount | ~ 149,900 (2024) |
| Website | http://att.com/ |
About AT&T
AT&T has been actively expanding its 5G service providers across the US. Focusing on increasing coverage and upgrading its network capabilities.
By the end of 2023, AT&T aims to cover 200 million people with mid-band 5G, supported by its partnership with Ericsson. Which enhances the network through C-band spectrum deployment and advanced technologies.
The company has been heavily investing in 5G infrastructure. Dedicating around $24 billion annually to improve connectivity and support enterprise and public sector needs.
Recently, AT&T has also embraced new technologies such as Artificial Intelligence (AI) to enhance its 5G offerings and optimize services.
This focus on innovation is combined with a strong fiber optic network, providing broadband services to over 24 million locations.
These developments are part of AT&T’s strategy to stay competitive in a rapidly evolving telecommunications landscape.
Geographical Presence
AT&T Inc. is a leading telecommunications provider with a strong domestic presence in the US. Offering extensive wireless services and broadband solutions, including advanced 5G networks and AT&T Fiber.
Internationally, the company has a notable footprint in Latin America, particularly in Mexico. Following its acquisition of DirecTV while also providing enterprise solutions in Europe and the Asia-Pacific region.
AT&T’s strategic investments focus on enhancing connectivity and customer experience across its diverse markets.
Recent Developments
- In September 2024, AT&T and TPG announced plans to merge their DirecTV satellite TV service with Dish.
- In September 2024, AT&T and Nokia entered into a partnership to develop a fiber optic network across the US.
Deutsche-Telekom
Company Overview
| Establishment Year | 1995 |
| Headquarter | Bonn, Germany |
| Key Management | Timotheus Höttges (CEO) |
| Revenue (US$ Bn) | $ 121.1 Billion (2022) |
| Headcount | ~ 205,000 (2023) |
| Website | https://telekom.com/ |
About Deutsche Telekom
Deutsche Telekom is a key player in the 5G service providers/sectors. Actively expanding its 5G Standalone (SA) network across Germany and Europe.
By 2023, the company had rolled out over 5,000 antennas and increased coverage to more than 200 cities, with 5G services reaching 95% of the German population.
Deutsche Telekom is focusing on private 5G networks, particularly for industrial use. With offerings like campus networks that cater to enterprise clients.
In collaboration with companies like Ericsson and Mavenir, the company has made advancements in 5G network slicing, enabling flexible, high-performance connectivity for businesses.
Deutsche Telekom also introduced its line of 5G smartphones, making 5G more accessible to consumers. In recent developments, the company further strengthened its position in the US by acquiring more shares in T-Mobile US.
Geographical Presence
Deutsche Telekom AG is a leading global telecommunications provider with a strong geographical presence, primarily in Europe and the United States.
Germany offers a comprehensive range of fixed-line, mobile, and broadband services, supported by significant investments in fiber-optic and 5G infrastructure.
Its operations extend to Central and Eastern Europe through subsidiaries like T-Mobile Polska. At the same time, T-Mobile US, following its merger with Sprint, has become a major player in the American market.
Additionally, Deutsche Telekom engages in international wholesale services and is exploring opportunities in emerging markets, focusing on digital solutions and IoT to diversify its portfolio and drive growth.
Recent Development
- In August 2024, Deutsche Telekom IoT GmbH joined Bridge Alliance to expand global IoT connectivity.
- In August 2024, Deutsche Telekom announced its plans to launch its 5G Standalone offering in Germany.
Vodafone
Company Overview
| Establishment Year | 1984 |
| Headquarter | Berkshire, England, UK |
| Key Management | Margherita Della Valle (CEO) |
| Revenue (US$ Bn) | $ 39.7 Billion (2023) |
| Headcount | ~ 84,173 (2024) |
| Website | http://www.vodafone.com/ |
About Vodafone
Vodafone Group has been highly active in the 5G service providers/sectors, focusing on expanding its 5G network and advancing digital infrastructure.
In 2023, Vodafone announced a major merger with Three UK, aiming to create one of Europe’s leading 5G standalone networks.
This merger, valued at £11 billion, is expected to increase 5G coverage to 99% of the UK population by 2034, significantly boosting data speeds and supporting digital transformation across the UK. Additionally, the company plans to provide fixed wireless access to 82% of UK households by 2030.
On the global front, Vodafone continues its strategic shift, as highlighted by the sale of its Spanish unit to Zegona for €5 billion, while reinvesting in 5G innovations and efficiency improvements across its European markets.
Geographical Presence
Vodafone Group Plc is a multinational telecommunications company with a substantial presence across Europe, Africa, Asia, and the Middle East.
In Europe, it operates in major markets such as the UK, Germany, Italy, and Spain, offering mobile and fixed-line services.
In Africa, it holds a significant stake in Vodacom, particularly in South Africa and several other countries. In Asia, Vodafone has a notable presence in India through Vodafone Idea Limited, while in the Middle East, it operates in Egypt and Qatar.
Additionally, Vodafone is expanding its digital services, focusing on IoT solutions and financial services like M-Pesa, thereby enhancing its competitive position in the global telecommunications landscape.
Recent Developments
- In September 2024, Vodafone teamed up with M-net to provide fiber to the curb (FTTC) in Bavaria and Hesse’s Main-Kinzig region.
- In August 2024, Vodafone announced its plans to sell a 2.107% stake in Indus Towers to Bharti Airtel.
Airtel
Company Overview
| Establishment Year | 1995 |
| Headquarter | New Delhi, India |
| Key Management | Sunil Mittal (Chairman) |
| Revenue (US$ Bn) | $ 620 M (2024) |
| Headcount | ~ 86,900 (2024) |
| Website | https://airtel.in/ |
About Bharti Airtel
Bharti Airtel has made significant progress in the 5G service providers/sectors, quickly expanding its 5G network across India.
As of September 2023, Airtel reached over 50 million unique 5G customers and expanded coverage to all districts across the country.
It achieved one of the fastest rollouts in India, spanning all 28 states and eight union territories. The company has been using equipment from Nokia, Ericsson, and Samsung to deliver its services.
Recent developments include collaborations with Google Cloud for AI solutions and Nokia for cloud RAN trials.
Additionally, Airtel continues to invest in spectrum acquisitions, securing 19,800 MHz of 5G spectrum in 2022 and further expanding its reach in 2024 to accommodate growing traffic. The company has also focused on deploying 5G services in rural areas, reaching 140,000 villages.
Geographical Presence
Bharti Airtel Limited, a leading telecommunications provider, operates extensively in India and internationally.
In India, it covers all 22 telecom circles, with a significant market share in major cities. Its African operations span 14 countries, including Nigeria and Kenya, where it ranks among the top telecom operators.
Additionally, Airtel has a presence in Bangladesh and Sri Lanka, offering mobile services, and engages in international partnerships in the Middle East, Europe, and North America for enterprise solutions.
This broad geographical reach underscores Airtel’s strategy for growth in emerging markets while maintaining a strong position in India.
Recent Developments
- In September 2024, Bharti Airtel and Nokia successfully conducted trials that effectively merged TDD and FDD mid-band spectrum using next-generation chipsets.
- In September 2024, Bharti Airtel partnered with Telco to enhance its global network by acquiring capacity on a planned submarine cable system linking India to Italy.
China-Telecom
Company Overview
| Establishment Year | 2002 |
| Headquarter | Beijing, China |
| Key Management | Yang Jie (CEO) |
| Revenue (US$ Bn) | $ 72.6 Billion (2022) |
| Headcount | ~ 278,539 (2022) |
| Website | http://www.chinatelecom-h.com/ |
About China Telecom
China Telecom Corporation Limited has been actively enhancing its 5G service providers by integrating cloud computing, artificial intelligence (AI), and network synergy to improve its offerings and digital infrastructure.
In 2023, the company focused on expanding its 5G capabilities through network quality improvements and innovative applications like 5G Cloud VR and 5G Cloud Gaming.
It also developed e-cloud services to provide tailored solutions for sectors such as smart manufacturing and urban governance. Strategic partnerships, particularly with Huawei, have further strengthened its ICT infrastructure.
By focusing on 5G, cloud, and AI, China Telecom aims to leverage the ongoing digital transformation in China, solidifying its role in industrial digitalization.
Geographical Presence
China Telecom Corporation Limited, a major state-owned telecommunications provider in China, offers a wide range of services, including fixed-line and mobile telecommunications, broadband access, and data services.
With a strong presence across all provinces in mainland China—particularly in key cities like Beijing, Shanghai, and Guangdong—the company serves over 400 million mobile and 200 million broadband subscribers.
Internationally, China Telecom has established operations in Hong Kong and Macau and is expanding partnerships throughout the Asia-Pacific region, North America, Europe, Africa, and Latin America.
This strategic geographical presence positions the company for continued growth in the evolving telecommunications market.
Recent Developments
- In May 2024, China Telecom Global received approval from Hong Kong’s Office of the Telecommunications Authority to offer smartphone services with direct satellite connectivity.
- In July 2023, China Telecom Global, in partnership with the Bank of China and China Unicom, launched SIM-based E-Yuan payments.
KT
Company Overview
| Establishment Year | 1885 |
| Headquarter | Seongnam, South Korea |
| Key Management | Kim Young-shub (CEO) |
| Revenue (US$ Bn) | $ 20.2 Billion (2022) |
| Headcount | ~ 23,371 (2022) |
| Website | https://corp.kt.com/ |
About KT
KT Corporation, a leading South Korean telecommunications provider, has made notable advancements in the 5G sector by being the first in the country to commercialize a standalone (SA) 5G network.
This end-to-end service enhances speed and connectivity without relying on 4G LTE. KT is also expanding 5G applications across industries such as smart cities, healthcare, and manufacturing, utilizing AI and cloud technologies.
Recent efforts include the development of private 5G network solutions in collaboration with partners like Samsung and HFR, Inc., as well as the acquisition of Epsilon Telecommunications in 2021 to boost global connectivity.
These initiatives align with KT’s strategy to leverage 5G for digital transformation in both consumer and enterprise markets.
Geographical Presence
KT Corporation, a leading South Korean telecommunications provider, has a robust geographical presence both domestically and internationally.
Within South Korea, it operates extensive 4G and 5G networks, covering urban and rural areas, with significant activities in major cities like Seoul and Busan.
Internationally, KT has established partnerships in the Asia-Pacific region, including investments in Vietnam, and offers business solutions in North America.
Additionally, strategic alliances in Europe and exploration of opportunities in the Middle East and Africa highlight KT’s commitment to expanding its market reach and enhancing service delivery globally.
Recent Development
- In June 2024, KT Corp and Microsoft collaborated to undertake joint AI and cloud research initiatives.
- In April 2024, KT Corp launched new 5G mobile plans for foreign national residents.
SK-Telecom
Company Overview
| Establishment Year | 1984 |
| Headquarter | Seoul, South Korea |
| Key Management | Jung Ho Park (CEO) |
| Revenue (US$ Bn) | $ 13.5 Billion (2022) |
| Headcount | ~ 34,847 (2022) |
| Website | http://www.sktelecom.com/ |
About SK Telecom
SK Telecom, South Korea’s largest telecom operator, continues to lead in the 5G service providers/sector, making significant advancements in both consumer and enterprise markets.
As of 2023, the company had expanded its 5G subscriber base to over 16 million, marking a 10.6% year-on-year growth.
Recent developments include the launch of private 5G networks for industrial applications, such as smart factories, and collaborations with global tech companies like Microsoft and Amazon Web Services to strengthen its cloud and AI capabilities.
SK Telecom has also been focusing on AI-driven innovations with its “AI Pyramid Strategy,” aiming to integrate AI into infrastructure, services, and industrial processes.
Moreover, SK Telecom has been advancing 5G mobile edge computing (MEC) to support ultra-low latency services like autonomous vehicles and smart power plants.
Geographical Presence
SK Telecom Co., Ltd., a leading South Korean telecommunications provider, boasts a robust domestic presence with a significant market share in mobile, broadband, and IPTV services underpinned by advanced 5G technology.
Internationally, the company has expanded its footprint through strategic partnerships across the Asia-Pacific, North America, and Europe, focusing on innovative technologies such as AI and IoT.
Additionally, SK Telecom is exploring opportunities in emerging markets, leveraging its expertise to meet diverse regional demands.
This strategic geographical presence highlights the company’s commitment to global leadership in the telecommunications sector.
Recent Developments
- In September 2024, SK Telecom announced the acquisition of a 10% stake in BitGo Korea.
- In September 2024, SK Telecom partnered with Perplexity AI to introduce a Personalized AI Assistant service in the US.
Reliance-Jio
Company Overview
| Establishment Year | 2007 |
| Headquarter | Mumbai, Maharashtra, India |
| Key Management | Akash Ambani (Chairman) |
| Revenue (US$ Bn) | $ 12 Billion (2024) |
| Headcount | ~ 95,326 (2023) |
| Website | http://jio.com/ |
About Reliance Jio
Reliance Jio Infocomm Limited has swiftly expanded its 5G service providers across India, establishing itself as a leader in the telecommunications sector.
By August 2023, Jio completed the rollout of its 5G network in all 22 telecom circles, utilizing a diverse spectrum, including mmWave bands for ultra-fast speeds.
The company is at the forefront of technologies like 5G standalone architecture and network slicing, which enhance efficiency and enable innovative applications for consumers and enterprises.
Recent initiatives include a collaboration with OnePlus for 5G network slicing trials and the launch of JioAirFiber, a rapidly adopted 5G-based home broadband service.
Jio is also considering an IPO with a potential valuation exceeding $100 billion while managing capital expenditure on 5G infrastructure to scale its user base and explore new revenue streams.
Geographical Presence
Reliance Jio Infocomm Limited, a subsidiary of Reliance Industries, has established itself as a leading telecommunications provider in India since its launch in 2016.
With a pan-India presence across all 22 telecom circles, Jio operates over 500,000 mobile towers and extensive fiber optic infrastructure, ensuring robust coverage in both urban and rural areas.
Major markets include urban centers like Mumbai and Delhi, as well as significant expansions in states such as Uttar Pradesh and Gujarat.
Jio has rapidly amassed over 400 million subscribers, leading in data consumption per user through its competitive pricing and diverse digital services, solidifying its position as a pivotal player in the Indian telecom landscape.
Recent Developments
- In January 2024, Reliance Jio partnered with IIT Bombay to develop a local intelligent technology (AI) model.
- In December 2023, Reliance Jio partnered with Boat to launch a wearable device featuring an eSIM connection.
Nippon-Telegraph
Company Overview
| Establishment Year | 1985 |
| Headquarter | Tokyo, Japan |
| Key Management | Akira Shimada (CEO) |
| Revenue (US$ Bn) | $ 92.6 Billion (2023) |
| Headcount | ~ 338,467 (2023) |
| Website | http://group.ntt/ |
About Nippon Telegraph
Nippon Telegraph and Telephone Corporation (NTT) has been actively advancing its 5G service providers, particularly focusing on private 5G networks and strategic collaborations.
In 2023, NTT launched a global Private 5G Network-as-a-Service platform, which offers enterprise customers secure and flexible 5G solutions for industries like healthcare, manufacturing, and automotive.
This platform is designed to help businesses streamline connectivity and improve operational efficiency through cloud-native architecture, data analytics, and advanced security features.
Additionally, NTT has collaborated with Amazon’s Project Kuiper to enhance satellite connectivity in Japan, enabling more resilient communication networks in remote areas. This collaboration will also support new applications such as IoT and AI-driven solutions.
In another major initiative, NTT is partnering with Ericsson, Nokia, and other global firms to develop next-generation technologies, laying the groundwork for 6G.
Geographical Presence
Nippon Telegraph and Telephone Corporation (NTT Corporation), headquartered in Tokyo, Japan, is a leading global telecommunications company.
Primarily operating in Japan through subsidiaries like NTT East and NTT West, the company also has a significant presence in Asia-Pacific, including China and Southeast Asian countries.
In North America, NTT America provides data center and cloud services, while in Europe, it operates in major markets such as the UK and Germany, focusing on IT and telecommunications solutions.
Additionally, NTT is expanding its footprint in the Middle East and Africa through strategic partnerships, enhancing its global service offerings and adaptability to regional market needs.
Recent Developments
- In September 2024, NTT Corporation developed QFESTA.
- In August 2021, NTT launched the first globally available private 5G network-as-a-service platform.
Discuss Your Needs With Our Analyst
Please share your requirements with more details so our analyst can check if they can solve your problem(s)
