For 30% CAGR Rise, Global 5G Services Market Size Projected to be Worth USD 480.90 Billion By 2030: Polaris Market Research

According to the research report, the global 5G services market was valued at USD 54.60 billion in 2021 and is expected to reach USD 480.90 Billion By 2030, growing at a CAGR of 30.0% during the forecast period.

To meet the growing dependency on smartphones and internet-enabled technologies, fifth generation infrastructure and capabilities are expected to be implemented during the forecast years. Furthermore, as the technologies mature, 5G will likely offer a wave of new technologies, uses, and commercial applications, boosting the industry growth.

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Growing IoT usage, high networking requirements, and the ongoing advancement of machine-to-machine connectivity infrastructures are altering numerous vertical industries by linking all sorts of gadgets, platforms, applications, and utilities which is anticipated to propel industry growth. For instance, the global industry turnover for IoT technology is expected to reach $1.1 trillion by the end of 2025, according to the Federation of Indian Chambers of Commerce and Industry (FICCI).

The enhanced mobile broadband (eMBB) segment is expected to dominate the communication segment over the forecast period due to fifth-generation network providers' intense concentration on supplying upgraded mobile solutions for applications, including high cloud-based entertainment, AR/VR, ultra-high-definition broadcasting, and continuous phone conversations.

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Asia Pacific is anticipated to hold a significant share in the global industry over the forecast period due to the presence of a large smartphone user base, which has increased the competition among major players in order to provide better services. Furthermore, the presence of major industry players across the region, such as KT Corp., SK Telecom, China Mobile, and others, is also expected to contribute to the increasing demand.

Top Market Players Are:

Major market players include such as AT&T, Inc., Saudi Telecom Company, Bharti Airtel Ltd., BT Group plc, China Telecom Corporation Ltd., Deutsche Telekom AG, Telstra, China Mobile Ltd., NTT Docomo, KT Corp., Rakuten Mobile Inc., Telecom Italia, SK Telecom Co., Ltd., Verizon Communications Inc., Sprint Corporation, T-Mobile USA Inc., and Vodafone Group.

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Polaris market research has segmented the 5G services market report based on communication type, end-use, industry vertical and region:

5G Services, Communication Type Outlook (Revenue - USD Billion, 2018 - 2030)

FWA
eMBB
uRLLC
mMTC

5G Services, End-Use Outlook (Revenue - USD Billion, 2018 - 2030)

Smart Cities
Connected Workers
Connected Vehicles
Connected Factories
Smart Buildings
Smart Utilities
Connected Healthcare

5G Services, Industry Vertical Outlook (Revenue - USD Billion, 2018 - 2030)

Manufacturing
Energy & Utility
Media & Entertainment
IT & Telecom
Transportation & Logistics
Healthcare
Retail
Agriculture
Oil & Gas and Mining
BFSI
Construction
Real Estate

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