|Status : Published
|Published On : Jan, 2024
|Report Code : VRICT5172
|Industry : ICT & Media
|Available Format :
|Page : 190
The Global 5G Services Market is valued at US $998.87 Billion by 2030, from US $189.28 Billion, marking a remarkable compound annual growth rate (CAGR) of 48.21% during the forecast period from 2025 to 2030.
5G technology is the 5th generation of mobile networks. It is a global wireless standard that enables a new type of network, virtually connecting everything from people, machines, and objects to devices. 5G services deliver higher data speeds with more reliability, ultra-low latency, massive network capacity, increased availability, and a more consistent user experience. 5G services represent a unique and irreplaceable offering in the connectivity landscape. Globally, governments are playing a pivotal role in shaping the 5G landscape by enacting regulations and offering incentives to spur the adoption of 5G services. The higher performance and improved efficiency enabled by 5G services can empower new experiences and open opportunities for utilizing 5G services for new, innovative use cases across different industries.
Insight by Services Type
Based on the services, the Global 5G Services Market is segmented into professional services and managed services. Managed services segment is dominated the market with the largest share over the forecast period. The main purpose of managed services is to lowering operating and capital costs. Managed services are an essential intermediary for transforming and improving network operations and performance, as well as end-user experience, in terms of cost, quality, security, and control.
Insight by Technology Type
Based on technology, the Global 5G Services Market is segmented into Wi-Fi, high-speed package access, radio access technologies, GSM (global system for mobile communication) and others. The GSM segment dominated the segment over the forecast period. This segment is expected to grow because of its broad coverage, good voice call quality, secured connection, compatibility with data transfer between devices, support for text messaging and internet services.
Insight by Communication Type
Based on communication type, the Global 5G Services Market is classified into eMBB, MMTC, URLLC, and FWA. The eMBB segment is expected to hold the largest share of the 5G services market during the forecast period. eMBB is used in various cases such as 4K video access, virtual meetings and In-vehicle infotainment. The residential and commercial uses of eMBB provide high data speed.
Insight by End-user Type
On the basis of the End-user, the Global 5G Services Market is segmented into commercial and enterprises. The commercial segment dominates the market with the largest revenue share over the forecast period. The growing demand for faster data speeds shall contribute to the growth of the IT & telecommunication industry in commercial sector.
Global 5G Services Market Report Coverage
2018 - 2023
Base Year Considered
2025 - 2030
Market Size in 2023
U.S.D. 189.28 Billion
Revenue Forecast in 2030
U.S.D. 998.87 Billion
Segments Covered in the Report
By services, by technology type, by communication type and by end-user type
Market Trends, Drivers, and Restraints; Revenue Estimation and Forecast; Segmentation Analysis; Impact of COVID-19; Companies’ Strategic Developments; Market Share Analysis of Key Players; Company Profiling
Regions Covered in the Report
North America, Europe, Asia-Pacific and Japan and Rest of the World
The 5G edge cloud network and services market plays an essential role in enhancing and expanding the capabilities of the overall 5G services market owing to the reduced enhanced performance, better scalability and flexibility. Continued emphasis on improving energy monitoring and management, as well as gaining better control of the energy generation and distribution network, is also expected to boost market growth over the forecast period. 5G technologies can provide broadband access for public transportation systems, such as buses and high-speed trains, to provide high-speed internet in transit for information and interaction with smart mobility components. This, in turn, is expected to fuel market growth. Moreover, the strong emphasis on providing reliable and robust communication during natural disasters, such as floods, and earthquakes, is further estimated to spur the adoption of 5G services. Thus, high spectrum prices and the subsequent hike in 5G service subscription prices are expected to hinder market growth to some extent.
The high cost associated with the 5G network mobile phone subscription is expected to limit the market growth during the forecast period. The outbreak of COVID-19 has brought a temporary halt in the spectrum auctions in countries such as the US, the UK and France. Low speed of data and lack of regulatory bodies are likely to restrain the 5G industry growth in the forecast period.
Asia-Pacific and Japan
Rest of The World
Asia Pacific dominates the market with the largest market share over the forecast period. The Rising population in the region resulted in a higher number of users of 5 G services. In APAC the increasing use of cloud-based solutions such as IoT, mobility and big data analytics are also the major factors for the acceptance of the 5G services across the region. North America is expected to grow the fastest during the forecast period. The growing demand for mobile phones supports higher data speeds with the production of 5G services smartphones increases across the region.
Key Players Covered in the Report
Key market players of The Global 5G Services Market are SK Telecom Co., Ltd., Verizon Communications, Inc., T-Mobile USA, Inc., BT Group plc, Rakuten Mobile Inc., AT&T, Inc., China Mobile Ltd., Saudi Telecom Company, Vodafone Group, China Telecom Corporation Ltd.
T-Mobile has made significant investments to 5G wireless service in Virginia, enhancing coverage across nearly 32,000 square miles to cover nearly 97% of the state’s population. T-Mobile US, Inc. is America’s supercharged Un-carrier, delivering an advanced 4G LTE and transformative nationwide 5G network that will offer reliable connectivity for all. T-Mobile’s customers benefit from its unmatched combination of value and quality, offering the best possible service experience and undisputable drive for disruption that creates competition and innovation in wireless and beyond.
Lately, BT and Ericsson have successfully demonstrated the transmission of 5G services in a wideband FDD (frequency division duplex) radio carrier (over 20MHz) within a sub-3 GHz spectrum band. The breakthrough trial demonstrated the benefits of configuring a wide carrier bandwidth of 50MHz (50MHz downlink + 50MHz uplink) in EE’s 2.6GHz band and performing downlink aggregation with two TDD (time division duplex) carriers in EE’s 3.5GHz band.
Enabling 5G to be expanded in FDD bands is an important step in paving the way for the arrival of EE’s 5G Standalone mobile network. 5G SA will in future enable superior experiences for consumers and businesses – meeting the growing demand for data, driven by the likes of cloud gaming, VR, and emerging edge technologies.
The Global 5G Services Market report offers a comprehensive market segmentation analysis along with estimation for the forecast period 2024–2030.
Segments Covered in the Report
Regions Covered in the Report
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