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THE RISING DEMAND OF MOBILE DATA TRAFFIC VOLUME IS INFLUENCING THE GROWTH OF 5G SERVICE GLOBALLY
The global 5G service market is segmented in one category: by application. Based on application of 5G services the market is segmented into Energy and utility, automotive, healthcare, retail, consumer electronics, industrial automation, intelligent building and infrastructure, public safety and surveillance and home automation.
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In terms of energy and utility application the market of 5G services further segmented into smart grid, connected pipeline, connected logistics, physical security, mobile workforce management and asset management. In terms of automotive application 5G services the market can be further segmented into road safety and traffic efficiency, intelligent navigation and digital logistics. Based on healthcare segmented the market bifurcated into Mhealth, connected health and telemedicine.
In terms of retail segmented the market of 5G services is further segmented into field force tracking, supply chain management, remote monitoring, end consumer retail automation and field force productivity and automation. Based on consumer electronics of 5G services the market can be bifurcated into smart appliance, smart TV and smart TV consoles, wearable devices. In terms of industrial automation the market of 5G services is further segmented into machine type communication, impact of IoT (Internet of Things) and remote machinery.
Intelligent building and infrastructure segmented is further segmented into facility management and energy optimization and parking management. Based on public safety and surveillance segment the market of 5G services is bifurcated into surveillance systems, emergency and disaster management, C2/C4ISR system and public address and general alarm.
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By geography, the market of 5G services is divided in five major regions such as North America, Europe, Asia Pacific and Middle East and Africa and Latin America. Europe and North America are the early adopters of technology and therefore these two regions are expected to occupy majority of the market share.
The global 5G service market is marked by some strong competition from the major players operating in this industry. Numerous merger and acquisition, joint venture and partnership agreement, product innovation, research and development and geographical extension are some of the key strategies adopted by this player to ensure long-term sustenance in these market key participants in the global 5G Service industry include:
Nokia Corporation (Finland), Samsung Electronics Co., Ltd. (South Korea), Cisco Systems, Inc. (U.S.), LG Electronics Inc. (South Korea), Huawei Investment & Holding Co., Ltd (China), Telefonaktiebolaget L. M. Ericsson (Sweden), Verizon Communications, Inc.,(U.S.), Qualcomm Inc.(U.S.), Intel Corporation (U.S.), T-Mobile USA, Inc.(U.S.), AT&T Inc (U.S.) and NEC Corporation (Japan) among others.
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