5G services market by Size Share Research Report

5G Services Market

5G Services Market share is anticipated to expand at a healthy CAGR of 29% over the forecast period, owing to the low latency and high speed provided by 5G.

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The increasing emphasis on energy management to control the energy production and distribution network has augmented the 5G services market growth. The National Health Expenditure Accounts (NHEA), US projects that overall expenditure on healthcare will exceed USD 6 trillion by 2028. Also, the use of new generation 5G technologies in public transport applications to offer broadband access has strengthened the market size. Moreover, the evolving need to revolutionize mobile broadband experiences worldwide is the prime force fueling the market growth. However, the high price quoted by government to procure 5G system and the huge subscription price might restrain the 5G Services Market size.

By enterprise, the manufacturing segment is anticipated to witness a faster CAGR during the forecast period. The advent of fourth industrial revolution has expanded cyber physical systems and IoT, which has supported IoT networks. This enables effective, connected, flexible factories in the upcoming years.

By communication type, the enhanced mobile broadband (eMBB) is predicted to lead the market during the forecast period, owing to the increasing emphasis on 5G network vendors to provide improved broadband capabilities for different application, which include faster cloud-based gaming, AR/VR, UHD video, and untroubled video calls.

By region, Asia-Pacific is likely to hold the largest share over the forecast period, owing to the accelerating penetration of smartphones. However, the North American is expected to witness a faster CAGR during the forecast period. The service vendors have introduced the commercial 5G services.

Leading players operating in the market include China Mobile, AT&T, SK Telecom, BT Group, Verizon, Deutsche Telekom, China Telecom, T-Mobile, Orange S.A., Vodafone, among others.

Key Developments:

In 2021, AT&T launched the 5G+ services across several areas around Tampa, including Channel District, Raymond James Stadium, and other locations in the US.

In 2021, T-Mobile, Ericsson and Nokia incorporated a five-year, multi-billion-dollar agreements to upgrade the country’s largest 5G network.

5G Services Market Segmentation:

5G Services Market by Application

·        Smart Cities

·        Connected Factories

·        Smart Buildings

·        Connected Vehicles

·        Connected Healthcare

·        Connected Retail

·        Smart Utilities

·        Others

5G Services Market by End User

·        Consumers

·        Enterprises

5G Services Market by Communication Type

·        Fixed Wireless Access and Enhanced Wireless Broadband

·        Massive Machine-Type Communications

·        Ultra-Reliable Low Latency

5G Services Market by Enterprise

·        Manufacturing

·        Media and Entertainment

·        Government

·        Energy and Utilities

·        Transportation and Logistics

·        Healthcare

·        Others

5G Services Market by Region:

·        Asia Pacific

o  China

o  Japan

o  India

o  Rest of APAC

·        North America

o  United States of America

o  Canada

·        Europe

o  United Kingdom

o  Germany

o  France

o  Spain

o  Rest of Europe

·        RoW

o  Brazil

o  South Africa

o  Saudi Arabia

o  UAE

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