5G Services Market Overview
As per Roots Analysis, the global 5G services market size is estimated to grow from USD 131.5 billion in the current year to USD 4,564 billion by 2035, at a CAGR of 38.05% during the forecast period, till 2035.
The opportunity for 5G services market has been distributed across the following segments:
Type of Service
- Managed Services
- Professional Services
Type of Communication
- Enhanced Mobile Broadband
- Massive Machine Type Communication
- Extreme Mobile Broadband
- Fixed Wireless Access
- Others
Type of Technology
- High-Speed Package Access
- Radio Access Technologies
- System for Mobile
- Wi-Fi
- Others
Areas of Application
- Asset Tracking
- Smart Cities
Type of End-Users
- Automotive
- Aerospace and Defense
- Energy and Utility
- Media and Entertainment
- IT & Telecom
- Others
Company Size
- Large Enterprises
- Small and Medium Enterprises
Geographical Regions
- North America
- US
- Canada
- Mexico
- Other North American countries
- Europe
- Austria
- Belgium
- Denmark
- France
- Germany
- Ireland
- Italy
- Netherlands
- Norway
- Russia
- Spain
- Sweden
- Switzerland
- UK
- Other European countries
- Asia
- China
- India
- Japan
- Singapore
- South Korea
- Other Asian countries
- Latin America
- Brazil
- Chile
- Colombia
- Venezuela
- Other Latin American countries
- Middle East and North Africa
- Egypt
- Iran
- Iraq
- Israel
- Kuwait
- Saudi Arabia
- UAE
- Other MENA countries
- Rest of the World
- Australia
- New Zealand
- Other countries
5G SERVICES MARKET: GROWTH AND TRENDS
5G technology marks the fifth generation of wireless communication, succeeding the fourth generation known as 4G. This technology is distinguished by the advanced data transmission speed provided by 5G chipsets, enabling smoother streaming, quicker downloads, and enhanced online gaming experiences. Additionally, 5G features increased bandwidth, allowing a higher number of devices to connect to the network at the same time. It also has reduced latency, which minimizes the communication delay between devices, thereby enhancing real-time applications such as video conferencing and self-driving vehicles.
The analysis of demand for 5G services reveals a significant market expansion driven by the growing need for dependable and quicker internet speeds to support gaming, streaming, and various other applications. Further, the market is fueled by substantial advancements in IoT technologies, including smart devices and systems like industrial automation, smart homes, and smart cities that rely on the low latency and greater bandwidth offered by 5G. However, the progress of this market may face challenges due to infrastructure constraints and technological intricacies. Notably, this financial accessibility has facilitated the development and integration of 5G services solutions, bringing these innovations closer to everyday users, thereby propelling the growth within this market, during the forecast period.
5G SERVICES MARKET: KEY SEGMENTS
Market Share by Type of Service
Based on type of service, the global 5G services market is segmented into managed services and professional services. According to our estimates, currently, the managed services segment captures the majority share of the market. This can be attributed to their capability of providing all-encompassing solutions that encompass network management, security, and maintenance.
However, the professional services segment is anticipated to grow at a relatively higher CAGR during the forecast period, owing to the rising need for specialized consulting and implementation services as companies aim to enhance their 5G deployments.
Market Share by Type of Communication
Based on type of communication, the 5G services market is segmented into enhanced mobile broadband, massive machine type communication (mMTC), extreme mobile broadband, fixed wireless access (FWA) and others. According to our estimates, currently, the enhanced mobile broadband (eMBB) segment captures the majority of the market. This can be attributed to the initial focus of 5G network providers on offering improved broadband capabilities for applications such as high-speed cloud-based gaming, augmented reality / virtual reality (AR/VR), ultra-high-definition (UHD) video, and seamless video calls. eMBB allows for exceptionally high data speeds for both residential and commercial applications, leading to widespread adoption by a growing population.
Market Share by Type of Technology
Based on type of technology, the 5G services market is segmented into high-speed package access, radio access technologies, system for mobile, Wi-Fi, and others. According to our estimates, currently, radio access technologies segment captures the majority share of the market. This can be attributed to its capability to provide high-speed and low-latency connections, which is crucial for numerous applications, such as autonomous vehicles and augmented reality.
Market Share by Areas of Application
Based on areas of application, the 5G services market is segmented into asset tracking, and smart cities. According to our estimates, currently, asset tracking segment captures the majority share of the market. This can be attributed to its function across various sectors, including logistics, manufacturing, and healthcare 5G applications. However, the smart city 5G applications segment is expected to witness higher CAGR during the forecast period.
Market Share by Type of End-Users
Based on type of end-users, the 5G services market is segmented into automotive, aerospace and defense, energy and utility, media and entertainment, IT and telecom, and others. According to our estimates, currently, IT and telecom segment captures the majority share of the market. This can be attributed to the rising demand for higher data rates and advancements in technology within the 5G telecommunications sector.
Market Share by Company Size
Based on company size, the 5G services market is segmented into large and small and medium enterprise. According to our estimates, currently, large enterprise segment captures the majority share of the market. This can be attributed to their agility, innovative approaches, focus on specific niches, and capability to adjust to evolving customer preferences and market dynamics.
Market Share by Geographical Regions
Based on geographical regions, the 5G services market is segmented into North America, Europe, Asia, Latin America, Middle East and North Africa, and the rest of the world. According to our estimates, currently, Asia captures the majority share of the market. This can be attributed to the growing population, which leads to a rise in the number of 5G users.
Example Players in 5G Services Market
- AT&T
- Bharti Airtel
- BT Group
- China Mobile
- China Telecom
- Cisco Systems
- Deutsche Telekom
- Ericsson
- Fujitsu
- HP Enterprise Development
- Huawei
- Intel
- KT
- LG Electronics
- Nokia
- NTT DOCOMO
- Qualcomm
- Rakuten Mobile
- Samsung
- Saudi Telecom
- SK Telecom
- T-Mobile
- Verizon Communications
- Vodafone
5G SERVICES MARKET: RESEARCH COVERAGE
The report on the 5G services market features insights on various sections, including:
- Market Sizing and Opportunity Analysis: An in-depth analysis of the 5G services market, focusing on key market segments, including [A] type of service, [B] type of communication, [C] type of technology, [D] areas of application, [E] type of end users, [F] company size and [G] key geographical regions.
- Competitive Landscape: A comprehensive analysis of the companies engaged in the 5G services market, based on several relevant parameters, such as [A] year of establishment, [B] company size, [C] location of headquarters and [D] ownership structure.
- Company Profiles: Elaborate profiles of prominent players engaged in the 5G services market, providing details on [A] location of headquarters, [B]company size, [C] company mission, [D] company footprint, [E] management team, [F] contact details, [G] financial information, [H] operating business segments, [I] 5G services portfolio, [J] moat analysis, [K] recent developments, and an informed future outlook.
- Megatrends: An evaluation of ongoing megatrends in 5G services industry.
- Patent Analysis: An insightful analysis of patents filed / granted in the 5G services domain, based on relevant parameters, including [A] type of patent, [B] patent publication year, [C] patent age and [D] leading players.
- Recent Developments: An overview of the recent developments made in the 5G services market, along with analysis based on relevant parameters, including [A] year of initiative, [B] type of initiative, [C] geographical distribution and [D] most active players.
- Porter's Five Forces Analysis: An analysis of five competitive forces prevailing in the 5G services market, including threats of new entrants, bargaining power of buyers, bargaining power of suppliers, threats of substitute products and rivalry among existing competitors.
- SWOT Analysis: An insightful SWOT framework, highlighting the strengths, weaknesses, opportunities and threats in the domain. Additionally, it provides Harvey ball analysis, highlighting the relative impact of each SWOT parameter.
- Value Chain Analysis: A comprehensive analysis of the value chain, providing information on the different phases and stakeholders involved in the 5G services market.
KEY QUESTIONS ANSWERED IN THIS REPORT
- How many companies are currently engaged in 5G services market?
- Which are the leading companies in this market?
- What factors are likely to influence the evolution of this market?
- What is the current and future market size?
- What is the CAGR of this market?
- How is the current and future market opportunity likely to be distributed across key market segments?
REASONS TO BUY THIS REPORT
- The report provides a comprehensive market analysis, offering detailed revenue projections of the overall market and its specific sub-segments. This information is valuable to both established market leaders and emerging entrants.
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