Major players in the 5G services market are AT&T, Verizon Communications, Inc., China Mobile, Vodafone, Telstra, China Telecom, Deutsche Telecom, SK Telecom, Saudi Telecom Company, and T-Mobile USA Inc.
The global 5G services market is expected to grow from $69.39 billion in 2020 to $83.24 billion in 2021 at a compound annual growth rate (CAGR) of 20%. The change in growth trend is mainly due to the companies stabilizing their output after catering to the demand that grew exponentially during the COVID-19 pandemic in 2020. The market is expected to reach $188 billion in 2025 at a CAGR of 23%.
The 5G services market consists of sales of 5G and its related services. 5G is 5th generation services that evaluate networks to interconnect people, control machines, devices, and objects. 5G services will deliver the high levels of efficiency and performance that will empower to connect new industries and new user experience. 5G delivers the speed as high as 20 Gbps and is likely to refine a broad range of services in industries ranging from transportation to retail, education to entertainment, medical to an automotive and wide array of the internet of things (IoT).
The 5G services market covered in this report is segmented by communication type into fixed wireless access (FWA), enhanced mobile broadband (eMBB), ultra-reliable and low latency communications (uRLLC), massive machine-type communications (mMTC); end-user into manufacturing, energy & utilities, media & entertainment, IT & telecom, transportation & logistics, healthcare.
The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The high cost of 5G smartphones and related devices is expected to limit the growth of the 5G services market in the coming years.According to executives of leading companies such as Xiaomi, Samsung and OnePlus in January 2020, the price of 5G smartphone chipsets is twice as costly as the price of 4G smartphone chipsets.
Consequently, expensive parts result in a high cost of production leading to higher prices of 5G smartphones. This scenario is anticipated to adversely impact the growth of the 5G Services market over the forecast period.
In April 2018, T-Mobile Inc., a mobile telecommunications company based in Germany announced the merger with the Sprint Corporation telecommunication company for an amount of $26.5 billion. The merger is expected to form a new company that would be well-positioned to provide a robust 5G wireless communication service network in order to compete with Verizon and AT&T. Sprint Corporation, founded in 1899, is an American telecommunications company based in Kansas, USA.
Rising demand from the Internet of Things (IoT) is anticipated to contribute to higher demand for 5G services in order to deliver high performance and efficiency. According to the Federation of Indian Chambers of Commerce & Industry (FICCI), the global market revenue for the Internet of Things (IoT) is projected to reach $1.1 trillion by the end of 2025. The IoT connections across the globe are expected to increase from 7 billion in 2017 to 25 billion by 2025, growing at a CAGR of 17% during the forecast period. Therefore, growing demand for IoT and the requirement to connect smart devices with high-speed internet boost the revenue for the 5G services market over the forthcoming years.
The introduction of AI-powered services is a major trend shaping the growth of the 5G services market.The commercial usage of 5G services is expanding rapidly.
The growth in the number of connections and cloud-based AR or VR is generating higher demand for 5G services with greater bandwidth, wide-coverage, and low latency networks.Huawei started applying AI to technical work and business processes to serve its customers and as of 2019, Huawei provided more than 5,80,000 cases of technical support on more than 1,700 networks across the globe.
Therefore, the introduction of AI in 5G services in order to increase the accuracy and agileness is to act as a major trend for 5G services market.
The countries covered in the market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Our reports have been used by over 10K customers, including:
This IDC Market Note provides our perspective on Netcracker's 5G operations strategy. Netcracker offers two solution delivery options, the Netcracker Digital BSS/OSS product suite to satisfy all operations and monetization requirements via a full-stack cloud-native architecture and the Netcracker Cloud BSS SaaS solution for organizations that...
KEY FINDINGS The global microwave transmission equipment market is set to project a CAGR of 3.96% during the forecast period, 2021-2028. The demand for mobile communication, cellular network technology upgradation, demand for automation, and applications in satellite communication, propel market growth. MARKET...
The global SOI market is projected to reach USD 2.3 billion by 2026 from an estimated USD 1.1 billion in 2021, at a CAGR of 17.2% from 2021 to 2026. The rising demand for 5G in mobile communications and the increasing adoption of AI and ML in consumer electronics are the major driving factors for the growth of the SOI market. The...
COVID-19 has wreaked havoc across Europe and worldwide.It has considerably impacted supply chains and commerce patterns, GDP growth rates, travel, employment and technology investments. In 2020, the European Union (27 countries) experienced a GDP decline of 5.9%; the Euro Area (19 countries) GDP declined by 6.3%; Spain and Italy were...
India's communications SPs have just barely survived the COVID-19 pandemic. However, there are still ongoing signs of instability, with Reliance Jio and Bharti Airtel consolidating their relative positions. However, Vodafone Idea (Vi) and Bharat Sanchar Nigam Limited (BSNL)/Mahanagar Telephone Nigam Limited (MTNL) are faced with seemingly...
168 pages •
By Paul Budde Communication Pty Ltd
• Oct 2021
South Pacific region sees Telstra enter the telecom sector The Australian government has been keen to promote itself in the region as part of wider efforts to provide a counterweight to China and to Chinese telcos and vendors. In mid-2021 the Australian government pressed Telstra to acquire Digicel...
5G stands for the fifth generation of mobile communication technology. With each generation’s new technology and standards, there have been improvements in transmission speed and network capacity. 5G represents a big leap in cellular technology and in healthcare by providing essential levels of connectivity to enable a new health ecosystem,...
5G Market Demand and Service Revenue Forecast to 2026 - Global Market Overview, Regional Trend Analysis and Revenue Opportunities Summary “5G Market Demand and Service Revenue Forecast to 2026”, a Global Outlook Report , offers analysis of the growth opportunities in the mobile 5G market, looking at the current...
The private cellular network market in the Asia-Pacific provides unique growth opportunities driven by the robust ecosystem of collaboration and availability of spectrum. The coronavirus pandemic has accelerated digital transformation for industries and driven remote and virtual enablement making reliable connectivity more critical than ever. Private...
This report is 90% complete and will include the latest impact analysis of Covid-19 along with updated quarterly market data for the year 2021 (estimated). This report will be delivered within three working days post order confirmation. Global Voice over WiFi Market, By Technology (CSFB, VoLGA, VoIMS), By Voice Client...
You can change your Cookie Settings at any time but parts of our site will not function correctly without them.