Global 5G services market is expected to reach USD 145.91 Billion by 2025, at a CAGR of 23.76% from 2020 to 2025. Increasing demand for reliable and ultra-low latency connectivity services, fast development of connected IoT devices, and constant increase in data traffic are the key factors for the growth of the market.
5G is the new iteration of cellular mobile communications that provides significantly increased speed and responsiveness of wireless networks. In addition to high speed, capacity, and latency, the 5G services also enable to have network management features. This management of networks enables mobile operators to have multiple virtual networks in a single physical 5G network. For instance, in 2018, Samsung entered into a partnership with NEC on 5G technology. Both companies to work together on the development of massive network speed, capacity, coverage, and ultra-low latency by providing 5G and IT solutions.
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- The forecast period year for the study has been considered from 2020 to 2025. The 5G services market is analyzed on the basis of adoption and penetration rate.
- The report provides the key data of adoption and penetration rate, technological roadmap, and supply-demand ratio analysis to understand the present and future scenario of the market.
- The study delivers a comprehensive analysis of the global 5G services market by type, connectivity, offering, power source, application, and regions.
- The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The report emphasizes on all the key trends that play a vital role in the enlargement of the market from 2020 to 2025.
- Porter’s Five Forces model is used to recognize the competitive scenario in the global 5G services market. This report incorporates the industry analysis which is focused on providing an extensive view of the 5G services market.
- The study also includes attractiveness analysis of type, connectivity, offering, power source, application, and regions which are benchmarked based on their market size, growth rate and attractiveness in terms of present and future opportunity for understanding the future growth of the market.
- The report provides company profile of the key players operating in the 5G services market and a comparative analysis based on their business overviews, product offering, segment market share, regional presence, business strategies, innovations, mergers & acquisitions, recent developments, joint venture, collaborations, partnerships, SWOT analysis, and key financial information.
- The market estimates have been evaluated by considering the effect of different political, economic, social, technological and legal factors which are based on our extensive secondary research, primary research, and in-house databases.
- Increasing demand for reliable and ultra-low latency connectivity services
- Fast development of connected IoT devices
- The constant increase in data traffic
- High cost in the deployment of network services
- Growing development initiatives
- The increasing use of cloud-based solutions
- Reduce the costs of 5G services
- Issues related to global spectrum
Regional Segmentation Analysis:
The market is analysed on the basis of five regions namely North America, Europe, Asia Pacific, South America, and Middle East and Africa. North America held the largest market share of approximately34.84% in 2020. The technological advancement, growth of the 5G services, and the presence of major players are some of the factors that led to the growth of the 5G Services market in North America region.
The major players for 5G services market include Ericsson, Orange S.A., Alcatel-Lucent S.A., Qualcomm Inc., Telstra, T-Mobile, Deutsche Telekom AG, Nokia Siemens Networks, Telecom Italia, Saudi Telecom Company, Vodafone, Verizon, China Mobile, China Telecom, Korea Telecom, SK Telecom, AT&T, and others. Ericsson, Nokia Siemens Networks, Qualcomm Inc., Telstra, Deutsche Telekom AG, and others.
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