Press release
Future Perspectives: Key Trends Shaping the 5G Services Market Up to 2030
5G Services Market
Projected Market Expansion and Growth Drivers in the 5G Services Market
The 5G services market is forecasted to reach an impressive $2957.12 billion by 2030, growing at a staggering compound annual growth rate (CAGR) of 52.7%. This rapid acceleration is fueled by several expanding areas such as autonomous vehicle networks, smart city infrastructure rollouts, the rising use of augmented and virtual reality (AR/VR) applications, connected healthcare solutions, industrial automation, and mission-critical 5G services. Key trends expected to influence growth include the deployment of high-speed mobile broadband, low-latency communication services, extensive Internet of Things (IoT) connectivity, immersive AR/VR experiences, and the integration of smart factories.
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Leading Organizations Shaping the 5G Services Landscape
A number of prominent companies currently dominate the 5G services market, showcasing a blend of telecom operators and technology firms. These include 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, and others.
Strategic Acquisition Enhancing 5G Capabilities
In June 2023, HPE, a US-based company specializing in edge-to-cloud solutions, acquired Athonet, an Italy-based provider of 5G and LTE mobile platforms, for an undisclosed sum. This acquisition significantly boosts HPE's ability to innovate in the private networking space by offering a comprehensive and simplified approach to building connected edge infrastructure. The integration enables telecommunications providers to better serve the expanding demand for 5G technology while providing businesses with the confidence to adopt these new capabilities.
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Innovations and Market Trends Driving 5G Services
Key players in the 5G services market are focusing heavily on introducing advanced digital features tailored for prepaid and postpaid mobile, home, and business subscribers. These offerings leverage the high-speed, low-latency wireless communication capabilities inherent to 5G technology to create competitive differentiation. A notable example took place in July 2023 when Orange Jordan launched 5G services in Amman and Irbid. Orange was the first company in the Kingdom to pilot 5G in November 2022 and subsequently activated a live 5G network in Amman, allowing users to experience the new service free of charge.
Market Segmentation Overview for 5G Services
This report categorizes the 5G services market into several segments based on communication type, industry verticals, and end-user groups:
1) Communication Types: Fixed Wireless Access (FWA), Enhanced Mobile Broadband (EMBB), Ultra-Reliable and Low Latency Communications (URLLC), and Massive Machine-Type Communications (mMTC).
2) Verticals: Smart Cities, Smart Buildings, Connected Factories, Smart Utilities, Connected Healthcare, Connected Retail, and other sectors.
3) End Users: Manufacturing, Energy and Utilities, Media and Entertainment, IT and Telecom, Transportation and Logistics, Healthcare, Aerospace and Defense, among others.
Detailed Subsegments by Communication Type
Breaking down further by communication type:
- Fixed Wireless Access (FWA) includes residential broadband, business broadband, and rural connectivity.
- Enhanced Mobile Broadband (EMBB) covers consumer mobile data, enterprise mobility, AR or VR applications, and high-definition video streaming.
- Ultra-Reliable and Low Latency Communications (URLLC) focuses on autonomous vehicles, remote surgeries, industrial automation, and other mission-critical uses.
- Massive Machine-Type Communications (mMTC) involves IoT devices, smart cities, wearable technologies, and smart agriculture solutions.
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