The 5G services market size is estimated to grow from USD 31.2 Billion in 2020 to USD 422.5 Billion by 2027, growing at a CAGR of 45.1% during the forecast year from 2021 to 2027.
The Rising demand for trustworthy and lower latency connectivity services along with the enhanced developments in connected IoT devices are driving factors for the 5G services market. On the other hand, the cost involved in the employment of network services may hinder the growth of market.
The 5G services market is bifurcated into application and industry vertical. The connected vehicles sub-segment consists of vehicle telematics, autonomous vehicles, and freight information system. The segment deals entirely with the covering vehicle-to-vehicle, vehicle-to-infrastructure, connectivity aspect of vehicles, and infrastructure-to-vehicle connectivity, due to strong growth projections in autonomous vehicles, the execution of 5G services across the connected vehicles sub-segment is anticipated to witness highest market share among other verticals.
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North America is projected to lead the share in 5G services market, owing to the factors that include the ongoing developments to place the 5G communications across the remaining states of the US. Economies that would launch 5G services include China, South Korea, Japan, US, UK, and Germany. The countries with strong 4G communications would be the early deplorers. The research covers the current and historic 5G services market size and its growth trend with company outline of Key players/manufacturers: AT&T, Airtel, BT Group, China Mobile, China Telecom,Deutsche Telecom, Korea Telecom, Sprint, Saudi Telecom Company, SK Telecom among others.
The 5G services market research report provides an in-depth overview of the industry including market segmentation by application, industry vertical and geography. Analysis of the global market with special focus on high growth application in each vertical and fast-growing market segments. It includes detailed competitive landscape with identification of the key players with respect to each type of market, in-depth market share analysis with individual revenue, market shares, and top players rankings. Impact analysis of the market dynamics with factors currently driving and restraining the growth of the market, along with their impact in the short, medium, and long-term landscapes. Competitive intelligence from the company profiles, key player strategies, game-changing developments such as product launches and acquisitions.
The objective of this study is to identify the market opportunities and estimate market size by segments and countries for last few years and to forecast the values to the next five years. The report incorporates both the qualitative and quantitative aspects of the industry with respect to each of the regions and countries involved in the study. The report also covers qualitative analysis on the market, by incorporating complete pricing and cost analysis of components & products, Porter’s analysis and PEST (Political, Economic, Social & Technological factor) analysis of the market. The report also profiles all major companies active in this field.
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Market Analysis and Insights: 5G Services Market Analysis & Insights
5G Services Market Scope and Market Size
5G services market is segmented by region and further by countries, application, and industry vertical. Players, stakeholders, and other participants in the global 5G services market will be able to gain a strong position as this report will surely benefit their marketing strategies. The market analysis focuses on revenue and forecast by region/countries and by application in terms of revenue and forecast for the period 2016-2027.
Report further studies the market development status and future and 5G Services Market trend across the world. Also, it splits 5G services market segmentation by application, industry vertical and region to deep dive research and reveals market profile and prospects.
Major Classifications are as follows:
By Application
- Fixed Wireless Access (FWA)
- Enhanced Mobile Broadband (eMBB)
- Ultra-reliable and low latency communications (uRLLC)
- Massive machine-type communications (mMTC)
By Industry Vertical
- Smart Cities
- Connected Factories
- Smart Buildings
- Connected Vehicles
- Connected Healthcare
- Connected Retail
- Smart Utilities
- Broadband
- Voice
- Others
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Reason to purchase this 5G Services Market Report:
- Determine prospective investment areas based on a detailed trend analysis of the global 5G services market over the next years.
- Gain an in-depth understanding of the underlying factors driving demand for different and 5G services market segments in the top spending countries across the world and identify the opportunities offered by each of them.
- Strengthen your understanding of the market in terms of demand drivers, industry trends, and the latest technological developments, among others.
- Identify the major channels that are driving the global 5G services market, providing a clear picture of future opportunities that can be tapped, resulting in revenue expansion.
- Channelize resources by focusing on the ongoing programs that are being undertaken by the different countries within the global 5G services market.
- Make correct business decisions based on a thorough analysis of the total competitive landscape of the sector with detailed profiles of the top 5G services market providers around the world which include information about their products, alliances, recent contract wins and financial analysis wherever available.
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