5G Industry Report 2024 | StartUs Insights

This 5G industry report for 2024 captures the remarkable progress and expansive rollout of 5G technology that is bringing hyper-connectivity to various industries. As the backbone of the fourth industrial revolution, 5G is ushering in a new wave of digital transformation, enabling unprecedented speed and reliability in communication networks.

This report explores the ever-growing adoption of 5G, its impact on industries ranging from telecommunications to smart cities, and the latest and emerging innovations. This 5G report serves as a reference for stakeholders within the industry, investors, policymakers, and economic analysts, providing a snapshot of the industry’s health to map its trajectory for innovation and growth in the coming years.

StartUs Insights 5G Industry Report 2024

Executive Summary: 5G Industry Report 2024

This report is created using data obtained from the Big Data and AI-powered StartUs Insights Discovery Platform, covering more than 3.7 million global companies, as well as 20K+ technologies and emerging trends. We also analyzed a sample of 1700+ 5G startups developing innovative solutions to present five examples from emerging 5G industry trends.

• Industry Growth Overview: The 5G Industry Report 2024 data suggests robust growth with an industry expansion of 9.98% in the last year.
• Manpower & Employment Growth: The industry employs a workforce of 1.3 million, bolstered by an additional 79 000 new employees in the past year.
• Patents & Grants: A strong commitment to innovation is evident with over 20 800 patents and 300+ grants supporting research and development in 5G.
• Global Footprint: The 5G industry has a worldwide presence. Key country hubs include the USA, China, India, Germany, and the UK, and significant city hubs like Shenzhen, London, Beijing, New York City, and Tokyo.
• Investment Landscape: The sector attracts substantial investments, with an average investment value of USD 51 million. This indicates high investor confidence and resource commitment.
• Top Investors: Leading investors include the European Investment Bank, CIT Bank, Eutelsat, Shenzhen Capital Group, Fortune Venture Capital, and more.
• Startup Ecosystem: The 5G industry boasts a thriving startup ecosystem, with innovative startups like Alen Space (Satellite-based Maritime 5G), Microamp Solutions (Millimeter Wave Radar), Smawave Technology (5G Routers), Aira Technologies (O-RAN), and Spatialite Antenna Systems (Beamforming).
• Recommendations for Stakeholders: Stakeholders are encouraged to track industry growth and activity, actively foster innovation, and address key industry challenges to enable the 5G transformation across industries.

Explore the Data-driven 5G Report for 2024

The 5G Industry Report 2024 uses data from the Discovery Platform and encapsulates the key metrics that underline the sector’s dynamic growth and innovation. The industry growth of 9.98% in the last year reflects a robust and rapidly advancing market. The database lists over 13 000 companies, indicative of the growing 5G ecosystem. Employee growth further supports this growth, with more than 79 000 new workers joining the ranks, signaling strong job creation and sector vitality.

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What data is used to create this 5G report?

Based on the data provided by our Discovery Platform, we observe that the 5G industry ranks among the top 5% in the following categories relative to all 20K+ topics in our database. These categories provide a comprehensive overview of the industry’s key metrics and inform the short-term future direction of the industry.

• News Coverage & Publications: 5G is covered by over 250 000 publications, reflecting widespread media attention and scholarly interest.
• Funding Rounds: The platform features data on 4800+ funding rounds, demonstrating robust financial activity and investor confidence.
• Manpower: The industry employs over 1.3 million workers, with over 79 000 new employees added in the last year.
• Patents: Holds an impressive portfolio of 20 800+ 5G patents, showcasing a strong focus on innovation and technological advancement.
• Grants: Benefits from 300+ grants, indicating significant support for 5G research and development in the sector.
• and more. Book a demo to explore all data points used for this report.

A Snapshot of the Global 5G Industry

The 5G industry, in itself characterized by technological advancements, currently employs an impressive workforce of 1.3 million individuals. Over the last year, this sector has seen a significant surge in employee numbers, with an addition of over 79 000 professionals. This growth highlights the expanding influence and critical importance of 5G technology in the modern world.

Beyond just numbers, this increase represents a broader trend of job creation and skill development, vital for economies globally. As 5G technology continues to evolve, its impact on employment and innovation is expected to grow, signaling a robust future for this sector.

Stakeholders are currently tackling issues such as spectrum allocation, infrastructure costs, and the need for standardization. Moreover, the geopolitical dimensions of 5G, involving concerns over cybersecurity and the role of major 5G equipment providers, add layers of complexity to the industry’s growth and investment landscape.

Explore the Funding Landscape of the 5G Industry

The 5G sector’s average investment stands at USD 51 million, demonstrating a significant level of stakeholder investment. This figure reflects investor confidence in the potential of 5G and highlights the extensive resources required for its development.

With the participation of over 1700 investors, the 5G industry presents a varied and solid investment landscape. The investor base comprises major telecommunications companies, venture capitalists, and government bodies, each playing a role in the advancement of 5G. The involvement of a substantial number of investors indicates a consensus on the strategic importance of 5G technology. It also enhances communication and is a driver of innovation across different sectors.

The industry has completed more than 4800 funding rounds, indicating a dynamic and ongoing financial commitment in the 5G sector. Each funding round is a significant step in the progression of 5G, spanning R&D to infrastructure establishment and service implementation. The high volume of funding rounds further suggests a sustained investment, vital for the future development and evolution of 5G technology.

Who is Investing in 5G?

In the burgeoning 5G industry, the combined investment by top investors amounts to nearly USD 2.5 billion, spread across more than 70 companies. This substantial financial input highlights the industry’s growth potential and investor confidence. Key investors and their contributions include:

• European Investment Bank: A leading contributor investing USD 1.2 billion in 3 companies showcases a strong push to advance 5G in Europe.
• CIT Bank: Contributed significantly with USD 650 million invested in 2 companies, indicating a strategic focus on high-potential ventures.
• Eutelsat: The database records a single-company investment of USD 550 million, demonstrating confidence in targeted 5G solutions.
• Shenzhen Capital Group: Diversified its investment across 7 companies, totaling USD 32 million, reflecting a broad-based approach to fostering the 5G ecosystem.
• Fortune Venture Capital: Invested USD 25 million in 8 companies, highlighting its role in nurturing emerging 5G enterprises.
• National Science Foundation: Supported a wide range of 32 companies with USD 21 million, underscoring its commitment to scientific and technological advancements in 5G.
• European Innovation Council: Allocated USD 13 million across 8 companies, focusing on fostering innovative 5G solutions in Europe.
• Eurostars SME programme: Targeted smaller enterprises, investing USD 2.2 million in 11 companies, promoting growth in specialized 5G applications.

These investments are fueling a multitude of projects, ranging from the development of new 5G chips and devices to the establishment of expansive 5G networks. The capital is also enhancing the security features of 5G, ensuring that this high-speed network is not only fast but also secure and reliable. Moreover, a significant portion of the funds is allocated for innovation in 5G applications in other industries such as healthcare, automotive, and manufacturing, unlocking new possibilities for smart solutions.

Gain Access to Top 5G Innovations & Industry Trends with the Discovery Platform

The data from the Discovery Platform highlights the rapidly evolving landscape of 5G technology, pinpointing the highest-growing trends over the last year. Maritime Connectivity with 47 company listings, leads the trending topics in the last year, indicating its potential for implementing 5G applications. Millimetre Wave Radar is also gaining traction, with 122 companies contributing to its role in enhancing 5G communication. 5G Routers has also been a focal point with 177 companies, highlighting its role in building out 5G infrastructure. Book a demo to check the entire list of emerging 5G industry trends.

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5 Top Examples from 1700+ Innovative 5G Startups impacting the Industry

The five innovative startups showcased below are picked based on data including the trend they operate within and their relevance, founding year, funding status, and more. Book a platform demo to find promising startups, emerging trends, or industry data specific to your company’s needs and objectives.

Alén Space enables Satellite-based Maritime 5G Connectivity

Spanish startup Alén Space offers a satellite-based IoT solution to streamline 5G connectivity. It provides a turnkey service for tracking ships using small satellites equipped with Automatic Identification System (AIS) transponders. While AIS transponders broadcast location and identity information, they are limited by range and don’t cover vessels far from shore. Alén Space overcomes this by integrating AIS payloads into satellites and managing operations and ground stations. They also detect “dark vessels” that don’t broadcast AIS signals, enhancing maritime safety and monitoring.

Microamp Solutions provides Millimeter Wave Radar Networks

Poland-based startup Microamp Solutions offers 5G millimeter wave (mmWave) private network solutions, ideal for industrial environments. Its system features 5G mmWave radio units that deliver high speed, minimal latency, and wide coverage. Easy to deploy and adaptable, this plug-and-play network enhances industrial augmented reality and autonomous vehicle use. Microamp provides flexible, scalable 5G mmWave networks, catering to enterprises and network providers globally.

Smawave Technology develops 5G Routers

Chinese startup Smawave Technology specializes in developing 5G routers. Leveraging expertise in wireless communication, AI, cloud-native, and 5G-AIOT technologies, it creates innovative products and solutions. The startup facilitates digital transformation in industries by offering various 5G intelligent devices and solutions. These products combine advanced communication, AI, and big data analytics, catering to the global market and aiding in industrial digitalization.

Aira Technologies simplifies Carrier Aggregation with O-RAN

US-based startup Aira Technologies reimagines the Radio Access Network (RAN) by integrating AI into every layer, creating a self-evolving, efficient network. Aira’s Open RAN (O-RAN) software enhances wireless performance by optimizing throughput, coverage, and capacity while reducing power usage. This innovation assists mobile network operators in reducing costs and maintaining stable connections in demanding environments. Aira’s AI-driven approach addresses the need for robust network architectures amid the increasing demand for reliable 5G connectivity in smart cities and industries.

Spatialite Antenna Systems streamlines Beamforming with Metamaterials

Latvian startup Spatialite Antenna Systems focuses on developing 5G and future wireless network technologies. It designs smart, electronically steerable antennas and liquid crystal compositions for GHz and THz spectrum communication. Using metamaterials – materials with tailored electromagnetic properties – the startup creates spatial light modulators for beamforming and steering in wireless systems. These liquid crystal-loaded metamaterials, adjustable with voltage enhance wireless communication efficiency.

Looking for Comprehensive Insights into 5G Trends, Startups, or Technologies?

The 5G industry report observes that industry leaders are striving to establish 5G as the standard for modern communication. Its rapid deployment is a catalyst for technological advancements in both consumer and business landscapes. As infrastructure continues to mature, 5G promises to unlock further potential in the IoT, AI, and more, cementing its role as a transformative force in the digital economy. Book a platform demo to explore all 1740+ startups and scaleups, as well as all industry trends impacting 5G and telecom companies.