Global 5G Services Market Overview:
5G is the fifth generation of cellular mobile expected to provide faster means of communication as compared to the proceeding technologies. It is designed to meet these needs by pooling bandwidth to boost speed and range. Global 5G service market is expected to have high growth during the forecasted period with rising demand for speed of the internet
As per latest study released by AMA Research, the Global 5G Services market is expected to see growth rate of 17.83% and may see market size of USD115.82 Billion by 2028.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Forecast Period | 2023-2028 |
Historical Period | 2018-2022 |
Unit | Value (USD Billion) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Influencing Trend:
Development of Connected IOT Devices and Rising Dependency on the Machine to Machine Communication
Market Growth Drivers:
Rapid Increase in the Connected IOT Devices, Increase in Demand for Ultra-low Latency Connectivity Services and Rise in Data Traffic
Challenges:
Vertical Focused Business Model and Issues Related to a Global Spectrum
Restraints:
High Cost Required for Deployment of Network Services
Opportunities:
Transition From on-premise Legacy System to cloud-based Solution
Competitive Landscape:
The competitive landscape of 5G services is fiercely contested, with multiple players vying for market dominance. Numerous telecommunications companies, technology giants, and network infrastructure providers are actively engaged in deploying and expanding their 5G networks. These players are investing heavily in research and development, infrastructure deployment, and partnerships to gain an edge in the market. The race to offer faster speeds, lower latency, and enhanced connectivity has led to intense competition, driving innovation and pushing the boundaries of what is possible with 5G technology. Additionally, emerging players and startups are also entering the market, adding further dynamism and fostering a competitive environment.
Some of the key players profiled in the report are Airtel (India), BT Group (United Kingdom), China Mobile (China), China Telecom (China), Deutsche Telecom (Germany), du (UAE), Korea Telecom (Korea), Sprint (United States), Saudi Telecom Company (Saudi Arabia), SK Telecom (South Korea), Telstra (Australia), Vodafone (United Kingdom) and Verizon (United States). Additionally, following companies can also be profiled that are part of our coverage like Cisco Systems, Samsung Electronics, Qualcomm, Intel Corporation, Verizon Communications, LG, SK Telecom, Nokia Networks, NEC Corporation, Huawei and T-Mobile USA. Analyst at AMA Research see United States Players to retain maximum share of Global 5G Services market by 2028. Considering Market by Vertical, the sub-segment i.e. Smart Cities will boost the 5G Services market.
Latest Market Insights:
In February 2022, IBM acquired Sentaca, a prominent provider of telco consulting services and solutions. This strategic acquisition will bolster IBM's hybrid cloud consulting business by incorporating essential expertise to assist communications service providers (CSPs) and media companies in their endeavors to modernize their operations, innovate, and undertake business transformations across various cloud platforms.
In May 2022, Wipro, a prominent global information technology, consulting, and business process services company, and HFCL Limited, an Indian telecom equipment manufacturer, partnered to collaborate on the development of a range of 5G transport products.
What Can be Explored with the 5G Services Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global 5G Services Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in 5G Services
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global 5G Services market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in 5G Services market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Telecom infrastructure vendors, Device manufacturers, Telecom network operators, Technology investors, Telecom software solution providers, Research organizations, universities, and consulting companies and Cellular technology-related associations, organizations, forums, and alliances.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.