With the rapid development of fifth-generation mobile communication technology (5G), its application potential in various fields is increasingly apparent, especially in collaborative smart manufacturing. 5G communication technology significantly improves the spectral efficiency, data transmission rate, and system capacity of the network by means of key technologies, such as large-scale MIMO, millimetre-wave communication, beamforming, and network slicing. This study explores the practical application effect of 5G technology in smart manufacturing by analysing data from 100 manufacturing enterprises. The results show that the application of 5G technology significantly improves productivity and product quality, while reducing data transmission delay and equipment failure rate. In addition, correlation and regression analyses further validated the positive impact of 5G technology on collaborative smart manufacturing. The results of the study provide empirical evidence for the implementation of 5G technology in manufacturing enterprises and provide a reference for policy makers in promoting smart manufacturing transformation.