USD 45.3 billion
Global 5G Services Market Size, Share, Growth Analysis, By End-User industry(IT & Telecom, Media & Entertainment), By Communication type(FWA, eMBB), By Consumer and Enterprises(Manufacturing, public safety) - Industry Forecast 2022-2028
Report ID: SQSG50C2001 | Region: Global | Published Date: November, 2022 | Pages: 162 | Tables: 107 | Figures: 68
Global 5G Services Market Insights
5G Services Market was valued at USD 45.3 billion in 2021 and it is expected to reach at USD 250 billion by 2028, with CAGR of 50% over forecast period (2022-2028).
5G is a next-generation cellular technology that enables high-speed, reliable communication with extremely low latency. 5G Technology encompasses the entire ecosystem of hardware, software, and services required for the deployment of 5G networks. 5G connectivity technologies such as enhanced mobile broadband, ultra-reliable low latency communications, and massive machine type communications are included in the 5G services market. 5G technology is expected to change the way people communicate, entertain themselves, and connect to the internet. 5G technology can operate in mmwave bands, which are high frequency bands ranging from 24 to 100 GHz, allowing for faster data delivery.
5G technology is being used in three types of connected services: enhanced mobile broadband, mission-critical communications, and massive IoT. 5G technology is intended for forward compatibility, which means it can be integrated with a wide range of devices such as smartphones, laptops, security systems, and so on. It also has the flexibility to support future services that require faster internet speeds and ultra-low latency levels. Aside from improving smartphones, 5G mobile technology has the potential to usher in new immersive experiences such as VR and AR by enabling faster, more uniform data rates, lower latency, and lower cost-per-bit. With ultra-reliable, available, low-latency links, 5G can enable new services that can transform industries, such as remote control of critical infrastructure, vehicles, and medical procedures.
US 5G Services Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot
Global Market Size
Largest Segment
IT & Telecom
Fastest Growth
IT & Telecom
Growth Rate
50% CAGR
Global 5G Services Market, 2021-2028 ($ Mn)
Country Share for Asia Pacific Region- 2021 (%)
Global 5G Services Market Size By End-User Industry, 2021-2028 ($ Mn)
Global 5G Services Market Size By End-User Industry, 2021-2028 (%)
To get more reports on the above market click here to Buy The Report
Global 5G Services Market Segmental Analysis
The Global 5G services market is segmented based on communication type, vertical, end user, and region. Based on communication type, the 5G Services Market is segmented into FWA, eMBB, uRLLC, and mMTC. Based on vertical, the 5G Services Market is segmented into Consumer and Enterprises ( Manufacturing, public safety, healthcare & social work, media & entertainment, energy & utility, IT & telecom, transportation & logistics, aerospace & defense, BFSI, government, retail, mining, Oil & gas, agriculture, construction, and real-estate). By end user, the 5G Services Market is segmented into IT & Telecom, Media & Entertainment, Automotive, Energy & Utility, Aerospace & Defense, and Other End-user Industries. Based on region 5G Services Market is categorized into: North America, Europe, Asia-Pacific, South America, and MEA.
5G Services Market Analysis by End User Industry:
In 2021, IT & telecom segment of the market is projected to hold the most dominating share of more than 20% in the global market. Due to significant investments by key companies in the latest communication technologies, the segment is likely to maintain its dominance over the projection period. The IT & telecom industry is expected to rise due to rising demand for higher data speeds for residential and commercial applications. 5G services are intended to provide ubiquitous broadband access between offices and homes, allowing for a virtual consultation with professionals and lowering corporate trip costs. Growing need for increased internet capacity for virtual business meetings is expected to move the segment forward.
Global 5G Services Market By End-User Industry, 2021(%)
To get detailed analysis on other segments, Request For Sample Report
Global 5G Services Market Regional Insights
Global 5G services market is segmented into North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. In 2021, the Asia-Pacific region is projected to hold the market share of 18% in the global market and grow at the fastest CAGR during the forecast period. Heavy investments by the key players such as China Telecom, China Mobile, SK Telecom, and KT Corp. in the market are likely to support the industry growth. The increasing deployment of 4G and 5G networks opens up a plethora of possibilities for the deployment of 5G services in the region. Attributing to the region's large mobile subscriber base, companies are becoming more competitive and focusing on providing superior customer service.
The North America 5G services market is expected to grow at the fastest rate during the forecast period. The growing demand for 5G networks is propelling the North American 5G services market forward. According to Ericcson's Mobility Report from June 2019, the region will have nearly 270 million 5G subscriptions, accounting for approximately 60% of all mobile subscriptions. This demonstrates that the region has a great deal of potential for 5G services. Furthermore, market participants in Canada are investing heavily in the development of the 5G services market. In April 2019, Rogers paid $1.7 billion for 20-year licenses to 600MHz spectrum in Ontario and Atlantic Canada, allowing its 5G network to strengthen every industry.
Global 5G Services Market By Geography, 2021 - 2028
- Largest
- Fastest
To know more about the market opportunities by region and country, click here to
Buy The Complete Report
Global 5G Services Market Dynamics
5G Services Market Drivers
- 5G wireless mobile capabilities allow a completely mobile and connected environment, by providing a wide range of use cases and business models to users. Besides, the 5G technology's faster data speeds and extremely low latency would improve the user experience when using 5G services for a variety of use cases, including VR and AR gaming, seamless video calling, and Ultra-High Definition (UHD) videos, to name a few. Over the forecast period, the growing demand for high-speed data connectivity for unified Internet of Things (IoT) applications like smart home energy management is expected to drive the adoption of these services.
5G Services Market Restraint
- Higher costs required for the deployment of 5G network is one of the factors that negatively impact the 5g services market growth. Massive investments would be required to make the transition from 4G to 5G technology. The needed throughput density, periodic interest rate, and base station pricing all influence the cost of 5G infrastructure. For effective and ultra-dense small cell deployments, these expenses must be reduced. The challenge for CSPs in transitioning to 5G is justifying the multibillion-dollar investments in new network equipment required to transform their network to a virtualized infrastructure, migrate services from 3G to 4G to 5G, and protect their business from ever-increasing risks of disruptions and cyber threats.
Speak to one of our ABIRAW analyst for your custom requirements before the purchase of this report
Global 5G Services Market Competitive Landscape
The market is fragmented in nature. The prominent players operating in the market are constantly adopting various growth strategies in order to stay afloat in the market. Product launches, innovations, mergers, and acquisitions, collaborations and partnerships, intensive R&D are some of the growth strategies that are adopted by these key players to thrive in the competitive market. The key market players are also constantly focused on R&D in order to supply industries with the most efficient and cost-effective solutions.
Top Players in the Global 5G Services Market
- Nokia Corporation (Finland)
- Huawei Technologies Co Ltd. (China)
- AT&T Inc. (US)
- Verizon Communications Inc (US)
- Sprint Corporation (US)
- T-Mobile US, Inc. (US)
- Deutsche Telekom AG (Germany)
- Telefonaktiebolaget LM Ericsson (Sweden)
- Swisscom AG (Switzerland)
- Vodafone Group (UK)
- BT Group (UK)
- Telstra Corporation Limited (Australia)
5G Services Market Recent Developments
- In February 2021, Verizon and Deloitte introduced a 5G and MEC retail industry digital platform, which aims to give retailers the capacity to store data and analyze it in near real-time to increase consumer interaction, inventory efficiency, and associate productivity.
- In January 2021, to enhance the 5G-RAN architecture, Nokia teamed with China Mobile to successfully evaluate AI-powered RANs to estimate bandwidth traffic and detect network irregularities.
- In January 2021, AT&T started providing 5G+ services in some of Tampa's most popular places and venues, including the Raymond James Stadium, Channel District, and Tampa International Airport.
Global 5G Services Key Market Trends
- The deployment of standalone 5G (SA 5G) networks based on millimeter wave (mmWave) technology is likely to take precedence over non-standalone 5G (NSA 5G) technology, which has been used in the majority of commercial deployments to date. NSA 5G employs new radio technologies that are built on an underlying 4G core, providing greater bandwidth and performance than 4G. However, it falls far short of the true potential of mmWave-based SA 5G networks, which can reach 10 times the speed of 4G and unlock a wide range of consumer and business applications. As the deployment of SA 5G networks gains traction, the practical application of advanced IoT, robotics, and AR/VR in industrial use cases may become a reality.
Global 5G Services Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, increasing demand for edge computing, along with the growing volume of data created by IoT devices, is likely to fuel the demand for faster transmission speeds. 5G technology will aid in the delivery of unrivaled data speeds while also boost overall user experience and real-time data processing capabilities. 5G connectivity is predicted to be 1000 times quicker than 4G while also lowering cost.
| Report Metric | Details |
|---|---|
| Market size value in 2021 | USD 45.3 billion |
| Market size value in 2028 | USD 250 billion |
| Growth Rate | 50% |
| Base year | 2021 |
| Forecast period | 2022-2028 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
To get a free trial access to our platform which is a one stop solution for all your data requirements for quicker decision making. This platform allows you to compare markets, competitors who are prominent in the market, and mega trends that are influencing the dynamics in the market. Also, get access to detailed SkyQuest exclusive matrix.
Buy The Complete Report to read the analyzed strategies adopted by the top vendors either to retain or gain market share
Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global 5G Services Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global 5G Services Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Global 5G Services Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global 5G Services Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global 5G Services Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global 5G Services Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Want to customize this report?
Our industry expert will work with you to provide you with customized data in a short amount of time.
SPEAK TO AN ANALYSTSubscribe & Save
Get lifetime access to our reports
Basic Plan $5,000 Team Plan $10,000 SUBSCRIBE NOW
USA (+1) 617-230-0741
