The 5G service Market expected to witness market growth at a rate of 29.4% in the forecast period of 2021 to 2028 and is expected to reach USD 249.2 Bn by 2030. The global 5G services market is witnessing rapid revenues growth. Factors such as the surging demand for reliable and ultra-latent connectivity services and increasing numbers of telecom operators drive the market growth. Besides, the augmenting demand for high data speed and connectivity to improve business models boosts the market demand. The research report provides some decisive factors such as size, share, sales, forecast trends, 5G Services market analysis & forecast.
Dominant Key Players on 5G Service Market Covered are:
- Samsung Electronics Co. Ltd.
- SK Telecom
- LG Electronics Inc.
- Verizon Communications Inc.
- Cisco Systems Inc.
- Qualcomm Inc.
- Telefonaktiebolaget L. M. Ericsson
- Saudi Telecom Company
- Intel Corporation
- BT Group
- China Mobile
- Huawei Investment & Holding Co. Ltd.
- Nokia Corporation
- T-Mobile USA Inc.
- NEC Corporation
- DU China Telecom
- KT Corporation
- Vodafone Group
- Deutsche Telekom
- AT&T Inc.
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Segmentation of Market Covered in the Research
The 5G service market is segmented into service types, communication types, technologies, verticals, and regions. The service type segment comprises managed services and professional services (system integration, network planning & optimization, network implementation, others).
The communication type segment comprises massive machine-type communications (mMTC), extreme mobile broadband (EMBb), fixed wireless access (FWA), ultra-reliable machine-type communications (uMTC), and others.
The technology segment comprises high-speed package access (HSPA), worldwide interoperability for microwave access (WiMAX), Wi-Fi, radio access technologies (RAT), global system for mobile (GSM), and others.
The vertical segment comprises automotive, energy & utilities, healthcare, consumer electronics, IT & telecommunication, retail, industrial, and others. The region segment comprises the Asia Pacific, Americas, Europe, and rest-of-the-world.
North America leads the global 5G service market, witnessing the early adoption of 5G networks across the region. Besides, the presence of several notable 5G service providers rolling out 5G services much ahead of operators in other regions boosts the market size. The US, Canada, and Mexico are major markets for 5G services in the region.
Moreover, various telecom companies in the region and the rising uptake of the latest technologies, such as IoT, substantiate the market value. Also, increasing smart city projects in this region boosts market revenues, promoting high-speed network performance requirements.
Increasing numbers of 5G users and subscribers, alongside the allocation of 5G frequencies by the Federal Communications Commission (FCC), substantiate the market demand. Moreover, rising application areas of 5G services in telecommunications foster the market growth in this region.
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Europe is the second-largest market for 5G services globally. The proliferation of smartphones, alongside the resurging economy in the region, allows the market to flourish. Rigorous R&D activities in this region and ongoing customer trials in countries like the UK, Germany, and France contribute to the market value.
Additionally, growing investments, as well as FDIs in the 5G service industry, foster the regional market growth. Also, the presence of major market players and their R&D investments propel market growth to an extent.
The Asia Pacific 5G service market is growing promisingly. The growing focus on improving connectivity and high investments in R&D activities in the region catalyzes the 5G service market growth. Factors such as the vast presence of 5G technology providers, leading technical expertise, and increased industrialization in the region boost the market growth.
Moreover, the rising demand for 5G services in emerging countries such as China, Taiwan, and India propels the growth of the regional market. Along with the ongoing initiatives and developments in the 5G service, the large consumer base is a tailwind for the regional market growth.
Reasons for Buying This Report:
- It Provides A Forward-Looking Perspective on Different Factors Driving or Restraining Market Growth.
- It Provides Five-Year Forecast Assessed based on How the Market Is Predicted to Grow.
- It Helps in Understanding the Key Product Segments and Their Future.
- It Provides Pinpoint Analysis of Changing Competition Dynamics and Keeps You Ahead of Competitors.
- It Helps in Making Informed Business Decisions by Having Complete Insights of Market and By Making an In-Depth Analysis of Market Segments.
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Table Of Content
1 Executive Summary
2 Market Introduction
2.2 Scope Of The Study
2.3 List Of Assumptions
2.4 Market Structure
3 Market Insights
4 Research Methodology
4.1 Research Process
4.2 Primary Research
4.3 Secondary Research
4.4 Market Size Estimation
4.5 Forecast Model
5 Market Dynamics
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