5G Service Market Analysis
The 5G service market is predicted to touch USD 85.84 billion at a 31.9% CAGR between 2020- 2027, states the recent Market Research Future (MRFR) analysis. 5G, put simply, is the fifth generation of wireless technology that promises a faster network. It will offer quicker downloads, lower lag, and a noteworthy impact on how people play, work, and live. The connectivity perks of 5G will make businesses more efficient and offer consumers more information quicker than ever before. Immersive education, industrial IoT, smart communities, and connected cars all rely on 5G networks.
The report includes company profiling of almost all important players of the 5G service market. The company profiling section offers valuable analysis on strengths and weaknesses, business developments and portfolios of leading market players.
Various factors are fuelling the global 5G service market share. As per the recent MRFR market estimates, such factors include consumer’s shift in preference to cloud-based solutions from premise, improved wireless range, consistent network connectivity, rapid innovation in virtualization in the networking domain, growing number of applications, increasing use during the COVID-19 pandemic, and a quick roll out of 5G services by developing economies.
On the contrary, concerns about the global spectrum and high costs of 5G network deployment may limit the global 5G service market growth over the forecast period.
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5G Service Market Segmentation
The MRFR report throws light on an inclusive segmental analysis of the global 5G service market based on vertical, technology, communication type, and service type.
By service type, the global 5G service market is segmented into managed services and professional services. The professional services are again bifurcated into network implementation, network planning and optimization, system integration, and others. The managed services segment is again bifurcated into managed services and professional services. Of these, the professional services segment will lead the market over the forecast period and the managed services will grow at a fast pace.
By communication type, the global 5G service market is segmented into fixed wireless access (FWA), ultra-reliable machine-type communications (uMTC), massive machine-type communications (mMTC), and extreme mobile broadband (EMBb). Of these, the EMBb segment will dominate the market over the forecast period.
By technology, the global 5G service market is segmented into worldwide interoperability for microwave access (WiMAX), global system for mobile (GSM), radio access technologies (RAT), high-speed package access (HSPA), and Wi-Fi. Of these, the RAT segment will spearhead the market over the forecast period and the WiMAX segment will grow at a fast pace.
By vertical, the global 5G service marker is segmented into retail, industrial, consumer electronics, IT and telecommunication, healthcare, automotive, energy and utilities, and others. Of these, the IT and telecommunication segment will have the lions share in the market over the forecast period.
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5G Service Market Regional Analysis
By region, the global 5G service market covers the recent trends and growth opportunity across North America, Europe, the Asia Pacific (APAC), and Rest of the World (RoW). Of these, North America will command the market over the forecast period. The presence of developing economies- Mexico, Canada, and the US, early adapter of 5G service network, various telecom companies announcing their plans to roll out 5G services, and the swift uptake of latest technologies such as smart cities and IoT that need high-speed network performance are adding to the global 5G service market growth over the forecast period.
The 5G service market in Europe is predicted to have second-largest share over the forecast period. Rigorous R&D activities coupled with several ongoing customer trials in France, Germany, and the UK are adding to the global 5G service market growth in the region.
The 5G service market in the APAC region is predicted to have healthy growth over the forecast period. Increasing focus to improve connectivity, high investments in R&D activities, adoption of new technologies in different sectors, infrastructural growth in India, China, Singapore, Australia, South Korea, and Japan, increasing deployment of 5G networks, and massive mobile subscriber base are adding to the global 5G service market growth in the region.
In RoW, the global 5G service market is predicted to have positive growth over the forecast period.
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5G Service Market Key Players
The key players profiled in the global 5G service market report include -
- AT&T Inc
- Sprint
- Airtel
- KT Corporation
- Deutsche Telekom
- Vodafone Group
- China Telecom
- DU
- Telstra
- NEC Corporation
- T-Mobile USA Inc.
- Huawei Investment & Holding Co. Ltd.
- Nokia Corporation
- BT Group
- China Mobile
- Intel Corporation
- Telefonaktiebolaget L. M. Ericsson
- Saudi Telecom Company
- Qualcomm Inc.
- Verizon Communications Inc.
- Cisco Systems Inc.
- LG Electronics Inc.
- Samsung Electronics Co. Ltd.
- SK Telecom
Reasons for Buying This Report:
- It Provides A Forward-Looking Perspective on Different Factors Driving or Restraining Market Growth.
- It Provides Five-Year Forecast Assessed based on How the Market Is Predicted to Grow.
- It Helps in Understanding the Key Product Segments and Their Future.
- It Provides Pinpoint Analysis of Changing Competition Dynamics and Keeps You Ahead of Competitors.
- It Helps in Making Informed Business Decisions by Having Complete Insights of Market and By Making an In-Depth Analysis of Market Segments.
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