Press release
5G Services Market Is Anticipated To Grow At A CAGR Of 25.3% To Reach USD 331.12 Billion | AT&T, China Mobile, SK Telecom, Verizon, BT Group, Deutsche Telekom, Orange S.A
5G Services Market
The 5G services market was expected to be worth USD 107.0 billion in 2022. Over the following five years, it is anticipated to grow at a CAGR of 25.3% to reach USD 331.12 billion. Due to high availability of 5G compatible devices and high investments of governments in 5G services, the 5G ecosystem is expected to witness a faster growth rate than other connectivity transformations.
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Market Players
The report includes the study of key players offering 5G services. It profiles major vendors in the global 5G services market. The major vendors include AT&T (US), China Mobile (China), SK Telecom (South Korea), Verizon (US), BT Group (UK), Deutsche Telekom (Germany), T-Mobile (US), China Telecom (China), Orange S.A (France), Vodafone (UK), China Unicom (China), Telstra (Australia), Telefonica (Spain), KT (South Korea), Rogers (Canada), Bell Canada(Canada), Etisalat( UAE), STC (KSA), LG U+( South Korea), NTT Docomo (Japan), KDDI (Japan), Telus (Canada), Swisscom (Switzerland), DISH (US), Reliance Jio(India), Rakuten (Japan), MTN ( South Africa), Airtel (India), and Telenor Group (Norway).
These players have adopted various strategies to grow in the global 5G services market.
This research report categorizes the 5G services market to forecast revenue and analyze trends in each of the following submarkets:
Based on communication types:
• FWA
• eMBB
• URLLC
• MMTC
Based on end Users
• Consumers
• Enterprises
Based on Enterprises:
• Manufacturing
• Energy and Utilities
• Media and Entertainment
• Government
• Transportation and Logistics
• Healthcare
• Others
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Based on regions:
• North America
• Europe
• APAC
• Middle East and Africa
• Latin America
KeyTakeways From Market Study Report:
• The 5G Services Market is expected to register at a CAGR of 25.3% over the forecast period. 5G is anticipated to support various services and associated service requirements across multiple scenarios.
• The market for 5G services is expected to revolutionize the domain of various broadband services and empower connectivity across different end-user verticals.
• The main drivers responsible for increasing the market share are an increase in mobile subscriptions, online streaming of video content, strengthening 5G infrastructure, and various IoT applications utilizing 5G.
• IoT in industrial automation is expected to derive maximum benefit from 5G services. The functionality to support this segment is currently being defined in 3GPP, influenced by Industry 4.0 initiatives and industry bodies, such as 5G-ACIA. It will likely be a 5G-specific segment, valid for local area use cases and private network deployments.
• The use of more effective cloud solutions that rely on low latency improves firm efficiency and innovation through increased download speeds of broadband services, which also, in turn, leads the carriers and original equipment manufacturers (OEMs), such as cellular device manufacturers and in-building distributed antenna systems (DAS) providers to follow the 5G New Radio (5G NR) rules to enable such offerings.
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