5G networks promise faster speeds, lower latency, and expanded capabilities that can enable new technologies like autonomous vehicles, industrial automation, remote healthcare, and more. However, realizing the full potential of 5G requires massive investments in research, infrastructure, and global standardization.
Leading this effort are multinational telecommunications corporations and specialized technology providers racing to lead 5G innovation. Based on annual revenues, below are the 10 largest companies making 5G networks a reality globally.
1. Samsung ($240.71 Billion)
As one of the world‘s premier consumer electronics brands, Samsung has major incentives to push 5G development for its smartphones and other connected devices. The South Korean giant began researching 5G technology as early as 2011 and conducted its first successful trial in 2016.
Key milestones include:
- 2018: Inks deal with Verizon to supply 5G network equipment
- 2019: Unveils first 5G-compatible Galaxy S10 and Galaxy Note devices
- 2020: Achieves record 5G speeds of 8.5Gbps in trials
With expertise across chips, devices and infrastructure, Samsung aims to provide complete 5G solutions. Their telecom equipment division continues to grow as more countries blacklist Chinese rival Huawei over security concerns. With industry leadership across multiple domains, Samsung is positioned better than anyone to make 5G a commercial reality.
2. AT&T ($168.9 Billion)
The largest telecommunications company in the world, AT&T began rolling out 5G services in 2018 and has expanded to over 90 U.S. markets as of 2020. Their early 5G adopter status was supported by acquisitions of Time Warner and DirecTV which offered media properties to stream over 5G networks.
Key milestones include:
- 2018: Launches first 5G networks in 3 cities
- 2019: Provides 5G connectivity at AT&T Stadium to demo sports/entertainment use cases
- 2020: Reaches 90+ markets across the U.S. with 5G coverage
Owning both the network infrastructure and media content to deliver, AT&T is pursuing a vertically integrated strategy around 5G. Their nationwide presence and extensive infrastructure also gives them an advantage in rapid scaling.
3. Verizon ($133.6 Billion)
Verizon maintains an intense rivalry with AT&T for the top spot as largest U.S. wireless carrier. Like its competitor, Verizon began 5G rollouts in 2018 and now offers 5G coverage to over 2000 cities nationwide.
Key milestones include:
- 2018: In collaboration with Nokia and Qualcomm, completes first call over 5G networks
- 2018: Partners with Ericsson to launch 5G services in Los Angeles
With the largest 4G LTE network previously, Verizon is leveraging its infrastructure and spectrum holdings to expedite migration to 5G. The company is also pursuing partnerships across multiple industries to demonstrate 5G use cases beyond consumer mobile devices.
4. China Mobile ($106.6 Billion)
Government support has allowed China to take an early lead in 5G adoption – with nearly 20% of Chinese mobile users on 5G as of mid-2022. Leading this charge is China Mobile, the world‘s largest carrier owned by the Chinese government.
Key milestones include:
- 2019: Launches 5G services across 50 cities simultaneously
- 2022: Reaches 122 million 5G subscribers by July
With 935 million total subscribers, China Mobile benefits from the enormous scale of China‘s market to gain rapid feedback and experience in building out and operating commercial 5G networks. Restrictions around foreign telecoms equipment also shelter the company from more experienced international rivals.
5. China Telecom ($54.7 Billion)
Like China Mobile, government-owned China Telecom has pursued aggressive 5G expansion – achieving 117 million 5G subscribers by mid-2022. As the third largest wireless carrier in China, they benefit from the vast underpenetrated market and the push for technological leadership by China‘s government.
Key milestones include:
- 2020: Reaches 15 million 5G subscribers within a year of launch
- 2022: Attains over 5 million 5G industrial/enterprise clients
China Telecom has specifically targeted integration of 5G into manufacturing, energy, transportation, healthcare and other industries. With expertise as an integrated telecoms provider, they enable end-to-end 5G solutions rather than just connectivity.
6. Huawei ($71.3 Billion)
Founded in 1987, Huawei has grown to become one of the world‘s largest telecommunications equipment providers with leading investments in 5G technology. Huawei‘s end-to-end 5G portfolio includes antennas, base stations, small cells, core network software and cloud solutions.
Key milestones include:
- 2018: Partners with Vodafone to complete world‘s first 5G calls and HD video call
- 2019: Signs 70 commercial 5G contracts globally
- 2022: Develops next-gen Massive MIMO solutions expanding 5G capacity
However, Huawei faces restricted access to Western markets over cybersecurity concerns given perceived ties to the Chinese government. Still, with unmatched expertise in 5G R&D, Huawei promises to shape adoption – especially across Asia and Europe.
7. ZTE ($14.8 Billion)
Also based in China, ZTE represents another 5G leader with specialized expertise in network infrastructure hardware including antennas, base stations and core network switches/routers.
Key milestones include:
- 2019: Provides first commercial 5G network to Finland carrier Elisa
- 2021: Rolls out 5G metro networks across China to enable smart city services
- 2022: Unveils 300G per wavelength optical transmission product advancing 5G backhaul
While smaller than Huawei, ZTE faces similar political headwinds in Western countries like the U.S. But with 72,000 employees in R&D alone and leadership in 5G patents, ZTE remains an integral player in global 5G rollouts – especially within its home country.
8. Fujitsu ($32 Billion)
Fujitsu distinguishes itself by using its advanced computing experience to enhance 5G network functionality leveraging AI. Specific solutions include providing real-time automation and orchestration layer to simplify operations and boost efficiency across the 5G infrastructure lifecycle.
Key milestones include:
- 2020: NTT Docomo leverages Fujitsu‘s AI-driven automation to launch initial 5G service
- 2021: Selected by NTT East Japan to roll out region‘s first commercial 5G network
- 2022: Concludes multi-year 5G research collaboration with Ericsson
While Fujitsu lacks scale as network hardware provider, their netowrk automation and AI expertise complements infrastructure leaders like Ericsson and Nokia in advancing full 5G solutions.
9. NEC Corporation ($28 Billion)
Another large Japanese firm, NEC Corporation focuses on bolstering security around 5G networks leveraging their encryption and other cybersecurity specializations. Specific solutions include user/device authentication, network slicing encryption, and AI-powered anomaly detection.
Key milestones include:
- 2019: Joins 5G Security Association to advance collaborative security standards/best practices
- 2021: Acquires network monitoruing company Netcracker to enhance 5G security offerings
- 2022: Wins government contract to provide end-to-end 5G security for public institutions
With 5G poised to underpin critical national infrastructure in the future, NEC‘s security-first approach helps ease concerns around broader 5G adoption – especially within Japan and aligned nations facing threats from Chinese players.
10. Cisco Systems ($49.8 Billion)
With expertise across enterprise networking hardware, Cisco unveiled a broad "Internet for the Future" strategy supported by over $5 billion in 5G investments. Focus areas include mobile core/edge computing infrastructure along with AI-driven automation.
Key milestones include:
- 2019: Acquires silicon manufacturer Acacia to enhance optical interconnect capabilities
- 2021: Partners with NTT Communications on first fully private 5G network spanning Tokyo metro
- 2022: Achieves first benchark of 1Tbps data transfer supporting future 5G expansions
While not a traditional telecom equipment maker, Cisco‘s IP networking leadership and growing presence in optical interconnects supports rising data demands across increasingly complex 5G network topologies.
According to industry estimates, 5G penetration across global smartphone users is forecast to reach 55% by 2025. This represents an installed base of 1.4 billion 5G subscriptions. Driving this massive growth is rising availability of affordable 5G devices along with expanding network coverage. By 2025‘s close, 5G networks are expected to support at least 60% of the world‘s population across both developed and developing markets.
However, mainstream adoption varies greatly by geography currently based on infrastructure maturity and political factors influencing specific players. As of mid-2022, China leads with over 20% 5G penetration domestically followed by Gulf nations like Kuwait and Qatar similarly above 15% adoption. By contrast, the United States and Western Europe remain below 10% indicating deployment at scale remains a work in progress hampering newer 5G-enabled use cases.
Overall the outlook remains highly positive for 5G to become the world‘s predominant mobile networking standard – seemingly inevitable based on the preceeding upgrades from 3G to 4G and LTE. But complexity remains in executing the multi-faceted upgrades required spanning spectrum availability, cell site density, backbone capacity, network virtualization, and broader operational transformations. With costs likely exceeding $3 trillion globally over the next decade, monetization also poses major hurdles for carriers facing flat revenue growth under existing business models.
Still amidst these challenges, the expansive benefits 5G promises across consumers, enterprises, industries and society fuels continued prioritization from governments and corporations to push boundaries and investment. Of the profiled leaders in this report, Samsung and China Mobile appear best equipped to leverage scale, government backing and end-to-end capabilities to have outsized influence on realization of 5G potential – for better or worse depending on the application. But clearly every company understands 5G‘s unmatched capacity to drive future value chains and user experiences – motivating the world‘s largest to direct their resources aggressively toward unlocking and owning this next generation opportunity.
