Asia-Pacific 5G Services Market Forecast to 2031 - Regional Analysis - by type

The Asia Pacific 5G services market was valued at US$ 37.46 billion in 2023 and is expected to reach US$ 15,20,412.67 million by 2031; it is estimated to register a CAGR of 58.9% from 2023 to 2031.

Increase in Adoption of IoT Devices Boosts Asia Pacific 5G Services Market

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 factory-floor automation. 5G enables more effortless 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 and provide lucrative opportunities for 5G services market growth.

Asia Pacific 5G Services Market Overview

China continues to dominate the 5G race. It is expanding its 5G infrastructure at a faster rate. In early 2021, China Mobile announced a total of 168.97 million 5G subscribers, compared to 6.7 million 5G customers in January 2020. In early 2021, China’s vice minister of industry and information technology communicated that 718,000 5G base stations were built in China in 2020, accounting for nearly 70% of the world’s total 5G sites. According to the 2022 World 5G Convention, Chinese telecom operators have invested US$ 59.4 billion in 5G.

In March 2022, China had 355 million 5G users and had deployed 1.4 million 5G base stations. According to the Ministry of Industry and Information Technology (MIIT), China had built ~1.97 million 5G base stations in July 2022. Almost all prefecture-level cities and counties and 96% of all towns in China are equipped with 5G network coverage. Further, China’s 5G base stations represent more than 60% of the total 5G users worldwide.

Asia Pacific 5G Services Market Revenue and Forecast to 2031 (US$ Million)

Asia Pacific 5G Services Market Segmentation

The Asia Pacific 5G services market is categorized into type, end user, and country.

• By type, the Asia Pacific 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 Asia Pacific 5G services market share in 2023.

In end user, the Asia Pacific 5G services market is bifurcated into enterprises and consumers. The enterprises segment held a larger share of the Asia Pacific 5G services market share in 2023. Enterprises sub segmented into IT & telecom, manufacturing, healthcare, BFSI, retail & e-commerce, and others.

• Based on country, the Asia Pacific 5G services market is segmented into China, Japan, South Korea, India, Australia, and the Rest of Asia Pacific. China segment held the largest share of Asia Pacific 5G services market in 2023.

China Mobile Limited, 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 Asia Pacific 5G services market.

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