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5G Service Market Research Report-Global Forecast till 2030

5G Service Market Research Report by Service Type (Professional Services, Managed Services), Communication Type (Extreme Mobile Broadband, Massive Machine-Type Communications, Fixed Wireless Access, and Others), Technology (Wi-Fi, High-Speed Package Access, Radio Access Technologies, Global System for Mobile, and Others), Vertical (Energy and Utilities, Automotive, Healthcare, and Others), and Region–Global Forecast to 2030

ID: MRFR/ICT/5201-HCR | December 2022 | Region: Global | 100 Pages         

5G Service Market

5G Service Market is Expected to Reach up to USD 249.2 Bn with 29.4% CAGR by 2030.

Segmentation

By Service Type Professional Services Managed Services
By Communication Type Extreme Mobile Broadband Massive Machine-Type Communications Fixed Wireless Access and Others
By Technology Wi-Fi High-Speed Package Access Radio Access Technologies Global System for Mobile and Others
By Vertical Energy and Utilities Automotive Healthcare and Others

Key Players

  • SK Telecom
  • Samsung Electronics Co. Ltd.
  • LG Electronics Inc.
  • Cisco Systems Inc.
  • Verizon Communications Inc.
  • Qualcomm Inc.
  • Saudi Telecom Company
  • Telefonaktiebolaget L. M. Ericsson
  • Intel Corporation
  • China Mobile
  • BT Group
  • Nokia Corporation
  • Huawei Investment & Holding Co. Ltd.
  • T-Mobile USA Inc.
  • NEC Corporation
  • Telstra
  • DU
  • China Telecom
  • Vodafone Group
  • KT Corporation
  • Deutsche Telekom
  • Airtel
  • Sprint
  • AT&T Inc.

Drivers

  • Rapid Developments in connected IoT devices
  • Increasing Demand for Reliable and Ultra-Latent connectivity services
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Market Snapshots


The fifth generation of cellular mobile communications, 5G promises to succeed 4G in terms of speed and use cases including extreme high bandwidth, high-density connection, and ultra-low latency. Currently, the global 5G service market is contemplated to be worth USD 21.53 Bn and is envisioned to reach approximately USD 249.2 Bn by the end of 2030. Market Research Future (MRFR) projects the global 5G service market to expand exponentially with a CAGR of 29.4% over the forecast period which ends in 2030. 


One notable feature that sets apart 5G from its predecessor is its low communication latency. Surging demand for reliable and ultra-latent connectivity services is fostering the growth of the market. Exceptionally high data speed will not only provide rich user experience but would also revolutionize business models. 


Various megatrends of mobile services are also affecting the global 5G service market. Rapid developments in IoT (Internet of Things) is also expected to fuel the market for 5g service. Disconnected systems are what hampers IoT applications, and 5G connection with extremely high bandwidth is what IoT requires for seamless performance. It would help in the deployment of more number of connected devices without the issues of latency. Growing number of connected devices would consequently propel the demand for 5G services. 


Initiatives in multiple countries towards the development of smart cities are expected to bring about the implementation capabilities of 5G network to the forefront. 5G has the ability to alleviate the limitations of connections, speed which stand as hurdles in the deployment of smart cities. 


The shift in consumer preference from premise-based to cloud-based solutions is expected to have significant implications for the growth of the global 5G service market. Advantages of 5G such as the obvious consistent network connectivity experience and improved wireless range would alleviate the obstacles of cloud deployment which would further create a conducive environment for the growth of the 5g service market. 


On the contrary, high costs associated with eh deployment of 5G network and concerns regarding the global spectrum are likely to impede the growth of the market. 


Report Overview


This MRFR Report presents a complete analysis of ten global 5G service market for a more profound understanding of the market. The report comprehensively segments the market by service type, communication type, technology, and vertical which assists stakeholders in gaining more insights into the market. Country-level analysis of each segment is also covered in the report. Detailed information about the key players operating in the market along with the strategies adopted by them is also presented which promotes a better understanding of the competitive landscape. 


Research Methodology


MRFR's reports are compiled using a blend of both primary and secondary research data which presents a comprehensive view of the market. Primary data consists of information collected from key -level industry insiders while secondary data is gathered from data available on public domain such as white papers, journals, annual reports, and data available on government websites. For the estimation of market size and segmentation, both the top-down and bottom-up approaches are leveraged. 


Players Covered  


SK Telecom, Samsung Electronics Co. Ltd., LG Electronics Inc., Cisco Systems Inc., Verizon Communications Inc., Qualcomm Inc., Saudi Telecom Company, Telefonaktiebolaget L. M. Ericsson, Intel Corporation, China Mobile, BT Group, Nokia Corporation, Huawei Investment & Holding Co. Ltd., T-Mobile USA Inc., NEC Corporation, Telstra, DU, China Telecom, Vodafone Group, KT Corporation, Deutsche Telekom, Airtel, Sprint, and AT&T Inc. 


Segmentation


By Service Type



  • Professional Services

    • System Integration

    • Network Planning and Optimization

    • Network Implementation

    • Others



  • Managed Services

  • Professional Services

  • Managed Services


By Communication Type



  • Extreme Mobile Broadband (EMBb)

  • Massive Machine-Type Communications (mMTC)

  • Ultra-Reliable Machine-Type Communications (uMTC)

  • Fixed Wireless Access (FWA)


By Technology



  • Wi-Fi, High-Speed Package Access (HSPA)

  • Radio Access Technologies (RAT)

  • Global System for Mobile (GSM)

  • Worldwide Interoperability for Microwave Access (WiMAX)


By Vertical



  • Energy and Utilities

  • Automotive

  • Healthcare

  • IT & Telecommunication

  • Consumer Electronics

  • Industrial

  • Retail

  • Others


By Region



  • North America

  • Europe

  • Asia-Pacific

  • Rest of the World (the Middle East & Africa, Latin America)



Report Scope:

Report Attribute/Metric Details
  Market Size   USD 249.2 Billion
  CAGR   CAGR 29.4%
  Base Year   2019
  Forecast Period   2020-2030
  Historical Data   2018
  Forecast Units   Value (USD Billion)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   Service Type, Technology
  Geographies Covered   North America, Europe, Asia-Pacific
  Key Vendors   SK Telecom Samsung Electronics Co. Ltd. LG Electronics Inc. Cisco Systems Inc. Verizon Communications Inc. Qualcomm Inc. Saudi Telecom Company Telefonaktiebolaget L. M. Ericsson Intel Corporation China Mobile BT Group Nokia Corporation Huawei Investment & Holding Co. Ltd. T-Mobile USA Inc. NEC Corporation Telstra DU China Telecom Vodafone Group KT Corporation Deutsche Telekom Airtel Sprint AT&T Inc.
  Key Market Opportunities   
  Key Market Drivers   Increasing Demand for Reliable and Ultra-Latent connectivity services


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Frequently Asked Questions (FAQ) :

The consumer fondness from premise-based to cloud-based solutions is having significant implications for the growth of the global 5G service market in this region.

Initiatives in multiple countries towards the development of smart cities are expected to be drivers in the study of the 5G Service Market.

5G Service Market is projected to be valued at US$ 249.2 Bn with 29.4% CAGR by 2030.

The Major Key Players in 5G Service Market are SK Telecom, Samsung Electronics Co. Ltd., LG Electronics Inc., Cisco Systems Inc., Verizon Communications Inc., Qualcomm Inc., Saudi Telecom Company, Telefonaktiebolaget L. M. Ericsson, Intel Corporation, China Mobile and many more.

Service, communication, technology and vertical are the segments included in the study of the 5G Service Market.

North America is estimated to hold the largest market share in 5G services in forecast period.