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In 2022, the global market for 5G services is expected to be worth USD 24.34 billion. The global 5G service market is expected to increase from USD 31.15 Billion in 2023 to USD 248.19 Billion by 2030, representing a CAGR of 30.40% between 2023 and 2030. There are a number of factors contributing to the expansion of the market, but two of the most important are the swift development of connected IoT devices and the increased need for reliable, ultra-latent connection services.
The rapid expansion of the 5G ecosystem is anticipated because of the widespread availability of 5G-compatible devices and the substantial government investments in 5G services. High adoption of 5G services can also be attributed to other factors, such as the proliferation of new applications that necessitate fast data transfers. It is estimated that 90% of consumers in countries like the United States and Canada have access to 5G networks. The Asia-Pacific region is also heavily investing in 5G infrastructure development, which bodes well for widespread adoption of 5G services across all enterprise sectors in the not-too-distant future.
5G wireless mobile services bring a myriad of use cases and business models to users, allowing for a completely mobile and connected environment. In addition, 5G technology's higher data transfer rates and extremely low latency would improve the user experience across a wide range of use cases, including but not limited to VR/AR gaming, video conferencing, and the streaming of Ultra-High-Definition (UHD) videos. Adoption of these services is expected to increase throughout the projected period due to the rising demand for high-speed data connectivity for unified Internet of Things (IoT) applications like smart home energy management.
Over half of all 5G devices by form factor are smartphones, according to the Ericsson Mobility Report 2022. Shipments of 5G devices topped 615 million in 2021, more than doubling from 2020 levels. Improved support for 3CC New Radio (NR) carrier aggregation is one example of the increased emphasis on smartphone standalone (SA) capabilities. In 2021, worldwide smartphone shipments increased by 6% from the previous year. There is now a greater selection of 5G smartphone models available in the middle-range pricing group, in addition to enhanced device capabilities. This implies that the price of a 5G smartphone is dropping, making them accessible to a wider range of consumers. As more and more people are able to purchase the gadget, the market for 5G services will surge forward.
For the 5G network to function, new infrastructure must be put in place. The base station price, interest rate, and needed throughput density have a significant impact on the total cost of a 5G network's infrastructure. Not many countries, especially the least developed and the most developing, can afford the massive investments in infrastructure needed to support the new 5G network. Companies operating in the business sector have cost considerations to make, and the safety of the 5G network is currently being monitored. As a result of these problems, the rollout of the 5G service network has slowed.
Market CAGR of global 5G services is being driven by the rising need for high-speed connectivity and data traffic. As 5G technology advances and subscriptions reach 13 billion by the end of 2019, mobile or smartphone consumers anticipate the introduction of new applications like YouTube, Flickr, or Snapchat experiences. Additionally, the rising price of healthcare is fueling the expansion of the global 5G services industry. National Health Expenditure Accounts in the United States,
The market for 5G services is being propelled forward by rising mobile data traffic and the growing importance of machine-to-machine communication. By boosting the quantity of data carried via a wireless system based on high frequency and superior antenna technology, 5G services allow for a truly mobile environment. The rising demand for internet subscriptions and the increasing requirement for fast and complete network coverage have contributed to the expansion of the 5G services market. High-speed data connection in applications like smart home energy management has been made possible by the incorporation of 5G services with the internet of things into daily life, leading to a forecast for the 5G services market.
Report Coverage
Global 5G Services research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global 5G Services report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and 5G Services competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key 5G Services market players and analyses their core competencies in each global market sub-segments.
Key Points Covered in the Report
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global 5G Services market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, 5G Services market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
AT&T (US), China Mobile (China), SK Telecom (South Korea), Verizon (US), BT Group (UK), Deutsche Telekom (Germany), T-Mobile (US), China Telecom (China), Orange S.A (France), Vodafone (UK), China Unicom (China), Telstra (Australia), Telefonica (Spain), KT (South Korea), Rogers (Canada), Bell Canada(Canada), Etisalat( UAE), STC (KSA), LG U+( South Korea), NTT Docomo (Japan), KDDI (Japan), Telus (Canada), Swisscom (Switzerland), DISH (US), Reliance Jio(India), Rakuten (Japan), MTN ( South Africa), Airtel (India), and Telenor Group (Norway).
Primary Target Market
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global 5G Services market based on the below-mentioned segments:
Global 5G Services Market, By Service Type
Professional Services
Managed Services
Global 5G Services market, By Technology
Wi-Fi
High-Speed Package Access
Radio Access Technologies
System for Mobile
Others
Global 5G Services Market, By Vertical
Energy and Utilities
Automotive
Healthcare
Others
Global 5G Services market, Regional Analysis
The rapid expansion of the 5G ecosystem is anticipated because of the widespread availability of 5G-compatible devices and the substantial government investments in 5G services. High adoption of 5G services can also be attributed to other factors, such as the proliferation of new applications that necessitate fast data transfers. It is estimated that 90% of consumers in countries like the United States and Canada have access to 5G networks. The Asia-Pacific region is also heavily investing in 5G infrastructure development, which bodes well for widespread adoption of 5G services across all enterprise sectors in the not-too-distant future.
5G wireless mobile services bring a myriad of use cases and business models to users, allowing for a completely mobile and connected environment. In addition, 5G technology's higher data transfer rates and extremely low latency would improve the user experience across a wide range of use cases, including but not limited to VR/AR gaming, video conferencing, and the streaming of Ultra-High-Definition (UHD) videos. Adoption of these services is expected to increase throughout the projected period due to the rising demand for high-speed data connectivity for unified Internet of Things (IoT) applications like smart home energy management.
Over half of all 5G devices by form factor are smartphones, according to the Ericsson Mobility Report 2022. Shipments of 5G devices topped 615 million in 2021, more than doubling from 2020 levels. Improved support for 3CC New Radio (NR) carrier aggregation is one example of the increased emphasis on smartphone standalone (SA) capabilities. In 2021, worldwide smartphone shipments increased by 6% from the previous year. There is now a greater selection of 5G smartphone models available in the middle-range pricing group, in addition to enhanced device capabilities. This implies that the price of a 5G smartphone is dropping, making them accessible to a wider range of consumers. As more and more people are able to purchase the gadget, the market for 5G services will surge forward.
For the 5G network to function, new infrastructure must be put in place. The base station price, interest rate, and needed throughput density have a significant impact on the total cost of a 5G network's infrastructure. Not many countries, especially the least developed and the most developing, can afford the massive investments in infrastructure needed to support the new 5G network. Companies operating in the business sector have cost considerations to make, and the safety of the 5G network is currently being monitored. As a result of these problems, the rollout of the 5G service network has slowed.
Market CAGR of global 5G services is being driven by the rising need for high-speed connectivity and data traffic. As 5G technology advances and subscriptions reach 13 billion by the end of 2019, mobile or smartphone consumers anticipate the introduction of new applications like YouTube, Flickr, or Snapchat experiences. Additionally, the rising price of healthcare is fueling the expansion of the global 5G services industry. National Health Expenditure Accounts in the United States,
The market for 5G services is being propelled forward by rising mobile data traffic and the growing importance of machine-to-machine communication. By boosting the quantity of data carried via a wireless system based on high frequency and superior antenna technology, 5G services allow for a truly mobile environment. The rising demand for internet subscriptions and the increasing requirement for fast and complete network coverage have contributed to the expansion of the 5G services market. High-speed data connection in applications like smart home energy management has been made possible by the incorporation of 5G services with the internet of things into daily life, leading to a forecast for the 5G services market.
Report Coverage
Global 5G Services research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global 5G Services report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and 5G Services competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key 5G Services market players and analyses their core competencies in each global market sub-segments.
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2017-2030 |
| Base Year | 2022 |
| Forecast Period | 2022-2030 |
| Historical Period | 2017-2021 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | AT&T (US), China Mobile (China), SK Telecom (South Korea), Verizon (US), BT Group (UK), Deutsche Telekom (Germany), T-Mobile (US), China Telecom (China), Orange S.A (France), Vodafone (UK), China Unicom (China), Telstra (Australia), Telefonica (Spain), KT (South Korea), Rogers (Canada), Bell Canada(Canada), Etisalat( UAE), STC (KSA), LG U+( South Korea), NTT Docomo (Japan), KDDI (Japan), Telus (Canada), Swisscom (Switzerland), DISH (US), Reliance Jio(India), Rakuten (Japan), MTN ( South Africa), Airtel (India), and Telenor Group (Norway). |
| Segments Covered | • By Product |
| Customization Scope | Free report customization (equivalent to up to 3 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Key Points Covered in the Report
- Market Revenue of 5G Services Market from 2021 to 2030.
- Market Forecast for 5G Services Market from 2021 to 2030.
- Regional Market Share and Revenue from 2021 to 2030.
- Country Market share within region from 2021 to 2030.
- Key Type and Application Revenue and forecast.
- Company Market Share Analysis, 5G Services competitive scenario, ranking, and detailed company
profiles. - Market driver, restraints, and detailed COVID-19 impact on 5G Services
Market
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global 5G Services market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, 5G Services market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
AT&T (US), China Mobile (China), SK Telecom (South Korea), Verizon (US), BT Group (UK), Deutsche Telekom (Germany), T-Mobile (US), China Telecom (China), Orange S.A (France), Vodafone (UK), China Unicom (China), Telstra (Australia), Telefonica (Spain), KT (South Korea), Rogers (Canada), Bell Canada(Canada), Etisalat( UAE), STC (KSA), LG U+( South Korea), NTT Docomo (Japan), KDDI (Japan), Telus (Canada), Swisscom (Switzerland), DISH (US), Reliance Jio(India), Rakuten (Japan), MTN ( South Africa), Airtel (India), and Telenor Group (Norway).
Primary Target Market
- Market Players of 5G Services
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global 5G Services market based on the below-mentioned segments:
Global 5G Services Market, By Service Type
Professional Services
Managed Services
Global 5G Services market, By Technology
Wi-Fi
High-Speed Package Access
Radio Access Technologies
System for Mobile
Others
Global 5G Services Market, By Vertical
Energy and Utilities
Automotive
Healthcare
Others
Global 5G Services market, Regional Analysis
- Europe: Germany, Uk, France, Italy, Spain, Russia, Rest of Europe
- The Asia Pacific: China,Japan,India,South Korea,Australia,Rest of Asia Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa
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