5G Services Market

Global 5G Services Market is valued at USD 21.6 Billion in 2021 and expected to reach USD 664.06 Billion by 2028 with a CAGR of 63.1% over the forecast period.

Global 5G Services Market: Global Size, Trends, Competitive, And Historical & Forecast Analysis, 2022-2028: Increasing need for high-speed transmission, lower transmission latencies, and growing trend of connected devices are among many factors likely to drive the requirement for the 5G services industry all across the forecast period.

Scope of Global 5G Services Market

5G refers to the fifth generation of mobile networks. Following 1G, 2G, 3G, and 4G services, 5G is a new worldwide wireless standard. 5G offers a unique type of networking capable of connecting nearly everybody and anything, encompassing machines, products, and gadgets. 5G wireless innovation is intended to provide more users with better multi-Gbps maximum connection speeds, super low latency, improved dependability, huge infrastructure capacity, enhanced uptime, and a more consistent customer interface. Higher speed and reliability enable new customer interactions and link emerging businesses.

5G technologies send data at multigigabit speeds using wireless internet networks. 5G innovation is a unifying air interface with increased bandwidth for providing a next-generation user interface, enabling new installation models, and providing innovative services. Furthermore, 5G services contribute to the growth of the digital environment by supporting a variety of businesses such as safer transport, precision farming, digital transportation, and distant healthcare.

COVID-19 has had a tremendous effect on small, medium, and big businesses, as well as sectors like textiles, manufacturing, automotive, tourism, hospitality, and transportation, owing to country-level shutdowns throughout the world. Worldwide, the telecommunications industry is critical in supporting a country's digital infrastructures. Each person and organization in every region and local government has maintained regular contact with the community to obtain information about COVID-19, leading to a big potential for a high-speed connection and a stronger service infrastructure, which is given by the strongest system, the 5G services connectivity.

The global 5G Services market is segmented based on the communication type, end-use, industry vertical, and region & country level. Based on communication type, the market is segmented into eMBB, FWA, mMTC, and uRLLC. By end-use, the global 5G Services market is segmented into connected workers, smart cities, connected vehicles, smart buildings, connected factories, smart utilities, and connected healthcare. By industry vertical, the market is segmented into energy & utility, manufacturing, oil & gas and mining, media & entertainment, transportation & logistics, it & telecom, retail, agriculture, healthcare, BFSI, and construction.

The regions covered in the global 5G Services market report are North America, Europe, Asia-Pacific, Latin America, and the rest of the World. Based on country level, the market of global 5G Services is sub divided into the U.S., Mexico, Canada, the U.K., France, Germany, China, Italy, India, Japan, Southeast Asia, Middle East Asia (Saudi Arabia, UAE, Egypt) GCC, Africa, etc.

Global 5G Services Market Segmentation

By Communication Type:

• eMBB
• FWA
• mMTC
• uRLLC

By End-Use:

• Connected Workers
• Smart Cities
• Connected Vehicles
• Smart Buildings
• Connected Factories
• Smart Utilities
• Connected Healthcare

By Industry Vertical:

• Energy & Utility
• Manufacturing
• Oil & Gas and Mining
• Media & Entertainment
• Transportation & Logistics
• IT & Telecom
• Retail
• Agriculture
• Healthcare
• BFSI
• Construction

Key Players of Global 5G Services Market

Some major players for the global 5G Services market report cover prominent companies like

• AT&T, Inc
• Bharti Airtel Ltd
• BT Group plc
• China Mobile Ltd
• China Telecom Corporation Ltd
• Deutsche Telekom AG
• KT Corp
• NTT Docomo
• Rakuten Mobile Inc
• Saudi Telecom Company
• SK Telecom Co., Ltd.
• T-Mobile USA, Inc.
• Verizon Communications, Inc.
• Vodafone Group.

News

Nokia and Telia Finland announced the introduction of the world's first operational 5G standalone networking

On September 9^th, 2022; Nokia and Telia Finland have announced the introduction of the world's first operational 5G standalone networking with connectivity slicing for Fixed Wireless Access (FWA) operations. Telia is integrating 5G SA into its 5G Fixed Wireless Access (FWA) residential broadband networks and will soon be able to provide a variety of broadband solutions with assured service rates to its clients in Finland. Telia will be able to expand on its current leading position and provide greater connectivity and capacity advantages to its customers owing to such technologies.

Ericsson and MTN Launched 5G Services in Nigeria

On September 19, 2022; Ericsson and MTN Nigeria achieved a significant milestone with the operational introduction of 5G services. This historic agreement is the outcome of a productive 21-year engagement, reinforcing the two parties' great tradition of collaboration. The initial phase of the rollout will cover certain areas in Lagos and Nigeria wherein Ericsson's 5G technologies - including 5G Radio Access Network as well as NSA Packet Core - will speed the growth and digitization of vital industries including healthcare, education, and industrialization.

Indian Prime Minister Introduced 5G Services in India

On October 22^nd, 2022; Prime Minister of India Narendra Modi introduced 5G services in India, ushering in an age of ultra-fast internet on cellular telephones. The fifth generation or 5G service, suitable for enabling ultra-high-speed broadband, is predicted to open up new economic prospects and social advantages, functioning as a transformative influence in Indian society.

Increasing Adoption of Internet of Things (IoT) devices, rising implementation of 5G services in healthcare industry, and increasing demand for high-speed internet are some of the major factors driving the market growth

The growing reliance on machine-to-machine connectivity and increasing mobile data transmission volume are driving the worldwide 5G opportunity globally. By boosting the quantity of data transferred across a wireless network associated with high bandwidth and superior antenna innovation, 5G services offer a completely mobile workplace. Increasing demand for internet connections, as well as the expanding necessity for high-speed and comprehensive network coverage, are driving market expansion. Besides, 5G services are quickly becoming popular because they improve user experiences in augmented worlds and virtual reality, seamless videoconferencing, and ultra-high-quality streaming media.

The growing demand for 5G innovation via the Internet of Things (IoT) is likely to propel the 5G solutions industry over the projected period. According to figures given by the Federation of Indian Chambers of Commerce and Industry (FICCI), worldwide sales for the Internet of Things (IoT) are expected to reach US$ 1.1 trillion by the end of 2025. Whenever it regards healthcare, a number of the world's greatest countries, including the United States and China, are likely to continue spending considerably on healthcare infrastructure. For example, the National Health Expenditure Account (NHEA) of the United States anticipates that total healthcare spending in the country would exceed USD 6.2 trillion by 2030, with a growth of approximately 7% between 2022 and 2030. Digital healthcare will notably concentrate on providing patients with technology-driven therapies, hence boosting business growth throughout the predicted period. Aside from power and utilities and medical, transit and transportation are additional industrial verticals that might provide prospects to this industry. Governments, on the other hand, are charging extremely high costs for service companies to acquire the 5G spectrum. Service companies would have little choice but to pass these expenses on to customers.

North America is Expected to Capture a Major Share in the Global 5G Services Market

Geographically, Asia Pacific is expected to dominate the market in the coming years. Japan, China, and South Korea lead the Asia-Pacific 5G communications industry. Deployment of innovative and sophisticated innovations is among the major reasons driving the development of the Asia-Pacific 5G solutions market. For the growth of the continent's 5G solutions business, industry participants are using novel innovations including cloud technologies, blockchain, and 5G core innovation. Furthermore, the development of the computer technology industry is adding to the expansion and evolution of the Asia-Pacific 5G services market.

Because of the existence of prominent 5G network suppliers including AT&T and Verizon, North America is likely to have a considerable market position in the global 5G services market during the forecast period. Additionally, rising expenditures by these firms to deliver 5G services in important countries such as the United States and Canada are likely to drive market expansion. For example, in January 2021, AT&T launched 5G services in numerous areas of Tampa, notably the Tampa Airport as well as the Channel District, enabling the highest bandwidth by connecting additional people and devices.

Europe is predicted to develop at a rapid rate owing to the region's rising acceptance of 5G technologies. For example, by the end of March 2021, 24 EU-27 countries, comprising Austria, Belgium, France, Germany, and Greece, launched 5G business services.

By Regional & Country Level:

North America

• U.S.
• Canada

Europe

• U.K.
• France
• Germany
• Italy

Asia Pacific

• China
• Japan
• India
• Southeast Asia

Latin America

• Brazil
• Mexico

Middle East and Africa

• GCC
• Africa
• Rest of Middle East and Africa

Report Analysis	Details
Historical data	2018 - 2021
Forecast Period	2021 - 2028
Market Size in 2021:	USD 21.6 Billion
Base year considered	2021
Forecast Period CAGR %:	63.1%
Market Size Expected in 2028:	USD 664.06 Billion
Tables, Charts & Figures:	175
Pages	300
Key Players/Companies	AT&T, Inc., Bharti Airtel Ltd., BT Group plc, China Mobile Ltd., China Telecom Corporation Ltd., Deutsche Telekom AG, KT Corp., NTT Docomo, Rakuten Mobile Inc, Saudi Telecom Company, SK Telecom Co, T-Mobile USA, Inc., Verizon Communications, and Vodafone Group.
Segments Covered	By Communication Type, By End-Use, By Industry Vertical.
Regional Analysis	North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, Africa, Rest of the Middle East and Africa