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5G Services Market worth $68.06 billion by 2030, growing at a CAGR of 22.01% - Exclusive Report by 360iResearch
5G Services Market | 360iResearch
The Global 5G Services Market to grow from USD 16.90 billion in 2023 to USD 68.06 billion by 2030, at a CAGR of 22.01%.
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The 5G services refer to the suite of telecommunications services and solutions that leverage 5G technology to provide ultra-high-speed internet connectivity, low latency, and reliable network performance to consumers and businesses. This 5G services market encompasses a broad range of services, including enhanced mobile broadband (eMBB), ultra-reliable low latency communications (URLLC), massive machine type communications (mMTC), and network slicing tailored to specific industry applications and user experiences. Increased data traffic volume due to rising video streaming, gaming, and real-time interactions create a demand for high-speed internet and data services. Growing focus on upgrading industrial IoT and industry 4.0 with 5G services and government initiatives in promoting 5G adoption contribute to the expansion of the market. The scarcity and cost of acquiring suitable spectrum bands for 5G deployment, technological challenges, and data & security concerns hamper the adoption of 5G networks and services. In addition, the rapid penetration of blockchain and big data analytics in 5G services are expected to contribute to the expansion of the market. Moreover, strategic partnerships with service providers to implement the 5G network are anticipated to create opportunities in the market.
The robust investment and regulatory support in North America is driving rapid 5G proliferation, with consumer demand fueled by the prospects of enhanced mobile broadband and advanced IoT applications. Latin America displays a burgeoning interest with notable developments in key markets; however, it faces headwinds due to economic and infrastructural restraints. The Asia-Pacific region is experiencing brisk adoption, spearheaded by major technological contributors such as South Korea and China, with countries such as India promising significant market opportunities due to their growing, high technology adoption rates, considerable government backing, and extensive 5G trials and commercial launches. European countries have been organized in their approach to 5G, focusing on ensuring standardization and security considerations. High consumer expectations for connectivity and the push for Industry 4.0 drive 5G demand in Europe. The Middle East showcases ambitious 5G advancements driven by state investment and diversification strategies, whereas Africa presents untapped potential hindered by infrastructural needs. The global demand for 5G is on an upward trajectory, signifying a robust future for service providers and telecom operators.
Market Segmentation & Coverage:
This research report categorizes the 5G Services Market in order to forecast the revenues and analyze trends in each of following sub-markets:
Based on Communication Type, market is studied across Enhanced Mobile Broadband, Massive Machine-Type Communications, and Ultra-Reliable Low Latency Communications. The Enhanced Mobile Broadband is projected to witness significant market share during forecast period.
Based on Application, market is studied across Connected Factories, Connected Healthcare, Connected Vehicles, Smart Buildings, and Smart Utilities. The Connected Factories is projected to witness significant market share during forecast period.
Based on End-User, market is studied across Enterprises and Individual. The Enterprises is further studied across Aerospace & Defense, Automotive & Transportation, Banking, Financial Services & Insurance, Building, Construction & Real Estate, Consumer Goods & Retail, Education, Energy & Utilities, Government & Public Sector, Healthcare & Life Sciences, Information Technology & Telecommunication, Manufacturing, Media & Entertainment, and Travel & Hospitality. The Individual is projected to witness significant market share during forecast period.
Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom. The Americas commanded largest market share of 38.41% in 2023, followed by Europe, Middle East & Africa.
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FPNV Positioning Matrix:
The FPNV Positioning Matrix is essential for assessing the 5G Services Market. It provides a comprehensive evaluation of vendors by examining key metrics within Business Strategy and Product Satisfaction, allowing users to make informed decisions based on their specific needs. This advanced analysis then organizes these vendors into four distinct quadrants, which represent varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital(V).
Market Share Analysis:
The Market Share Analysis offers an insightful look at the current state of vendors in the 5G Services Market. By comparing vendor contributions to overall revenue, customer base, and other key metrics, we can give companies a greater understanding of their performance and what they are up against when competing for market share. The analysis also sheds light on just how competitive any given sector is about accumulation, fragmentation dominance, and amalgamation traits over the base year period studied.
Key Company Profiles:
The report delves into recent significant developments in the 5G Services Market, highlighting leading vendors and their innovative profiles. These include Asia Pacific Telecommunications Co., Ltd., AT&T Inc., Bharat Sanchar Nigam Limited, Bharti Airtel Limited, BT Group PLC, Cellnex Telecom, S.A., Challenge Networks Resources Pty Ltd. by Vocus Group Limited, China Broadcasting Network International Co., Ltd., China Mobile Limited, China Telecom Corporation Limited, Cisco Systems, Inc., Deutsche Telekom AG, DISH Network Corporation, du by Emirates Integrated Telecommunications Company PJSC, Emirates Telecommunications Group Company PJSC (e&), International Business Machines Corporation, Jordan Telecom Group (Orange Jordan), KDDI Corporation, KT Corporation, Mobile Telecommunications Company Saudi Arabia (Zain KSA), NTT Group, Oman Telecommunications Company SAOG, One Communications Ltd., One NZ New Zealand Limited, Ooredoo Group, Reliance Jio Infocomm. Ltd., Saudi Telecom Company, SK Telecom Co., Ltd., Taiwan Mobile Co., Ltd., Telefónica, S.A., Two Degrees Mobile Limited, Verizon Communications Inc, Viettel Military Industry and Telecoms Group, Vodafone Group PLC, and ZTE Corporation.
Key Topics Covered:
1. Preface
2. Research Methodology
3. Executive Summary
4. Market Overview
5. Market Insights
6. 5G Services Market, by Communication Type
7. 5G Services Market, by Application
8. 5G Services Market, by End-User
9. Americas 5G Services Market
10. Asia-Pacific 5G Services Market
11. Europe, Middle East & Africa 5G Services Market
12. Competitive Landscape
13. Competitive Portfolio
The report provides insights on the following pointers:
1. Market Penetration: Provides comprehensive information on the market offered by the key players
2. Market Development: Provides in-depth information about lucrative emerging markets and analyzes penetration across mature segments of the markets
3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments
4. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players
5. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
The report answers questions such as:
1. What is the market size and forecast of the 5G Services Market?
2. Which are the products/segments/applications/areas to invest in over the forecast period in the 5G Services Market?
3. What is the competitive strategic window for opportunities in the 5G Services Market?
4. What are the technology trends and regulatory frameworks in the 5G Services Market?
5. What is the market share of the leading vendors in the 5G Services Market?
6. What modes and strategic moves are considered suitable for entering the 5G Services Market?
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