Press release
Exponential Growth Forecasted for 5G Services Market with Market Size Projected to Reach $2006.82 Billion by 2029
5G Services Market Size
What Is The Projected Market Size Of The Global 5G Services Market And Its Growth Rate?
The 5G services market is thriving and shows no signs of slowing down.
•2024 Market Size: $206.44 billion
•2025 Market Size: $356.36 billion (72.6% CAGR)
•2029 Market Size: $2006.82 billion (54.0% CAGR)
Factors such as increasing 5G subscriptions, connected cars, smart homes, internet penetration, government initiatives, and growth in the number of IoT devices are pushing the growth trajectory upwards.
What Is Driving The Growth In The 5G Services Market?
The demand from the Internet of Things (IoT) is a massive contributor to the demand for 5G services. The need to connect smart devices with high-speed internet combined with a 15% increase in connected IoT devices from 2022-2023 creates an immense need for 5G services. With an estimated 18.8 billion connected devices by the end of 2024, the revenue for the 5G services market is set to soar in the coming years.
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Who Are the Key Players Driving 5G Services Market Growth?
•AT&T, Inc
•Verizon Communications, Inc
•Deutsche Telekom AG
•China Mobile Ltd
•T-Mobile USA, Inc
•SK Telecom Co., Ltd.
•Saudi Telecom Company
•Vodafone Group
•China Telecom Corporation Ltd.
•BT Group plc, Telefonica, O2, MTS, Ericsson, Orange, DIGI, Qualcomm, Cisco, Intel, Huawei, Inseego, CommScope, Cohere Technologies Inc, United States Cellular Corporation, C Spire, Mimosa Networks, Telecom Argentina, America Movil, Etisalat, Emirates Integrated Telecommunications Company P.J.S.C., Zain Saudi Arabia, 21st Century Technologies Ltd, Dreamlabs Nigeria Ltd, Excelsimo Networks Ltd, Galaxy Backbone Plc, ipNX Nigeria Ltd, Liquid Intelligent Technologies, MainOne, Medallion Communications Inc, MTN Group, Rack Centre Ltd
What Are The Key Trends In The 5G Services Market?
•5G VRAN (Virtualized Radio Access Network) Technology
•Service Innovations
•Technological Advancements
•Stand-Alone 5G
•Strategic Partnerships and Collaborations
•Artificial Intelligence in the 5G Network
What Are The Segments Of The Global 5G Services Market?
1) By Communication Type: Fixed Wireless Access (FWA), Enhanced Mobile Broadband (EMBB), Ultra-Reliable And Low Latency Communications (URLLC), Massive Machine-Type Communications (mMTC)
2) By Vertical: Smart Cities, Smart Buildings, Connected Factories, Smart Utilities, Connected Healthcare, Connected Retail, Other Verticals
3) By End-User: Manufacturing, Energy And Utilities, Media And Entertainment, IT And Telecom, Transportation And Logistics, Healthcare, Aerospace And Defense, Other End-Users
Which Region Leads The 5G Services Market?
In 2024, the Asia-Pacific region had the largest share of the global 5G services market, followed by North America. The regions considered in this report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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What Is Covered In The 5G Services Market Global Market Report?
- Market Size Analysis: Analyze the 5G Services Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the 5G Services Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall 5G Services Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the 5G Services Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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