The global 5G Services market size is expected to be worth around US$ 414.51 billion by 2028, according to a new report by Vision Research Reports.
The global 5G Services market size was valued at US$ 41.45 billion in 2020 and is anticipated to grow at a CAGR of 43.8% during forecast period 2021 to 2028.
Rapidly rising demand for ultra-reliable and low latency data networks capable of providing enhanced mobile connectivity is estimated to boost the market growth over the forecast period. The potential adoption of 5G services for remote patient monitoring and remote surgery applications is also anticipated to propel the market growth from 2021 to 2027.
The 5G wireless technology is expected to completely transform the transportation and logistics industry by providing seamless vehicle-to-vehicle (V2V) and vehicle-to-infrastructure (V2I) connectivity. As such, the need to ensure a strong, seamless, and uninterrupted connectivity with autonomous vehicles is estimated to drive the adoption of 5G services. Furthermore, robust deployment of 5G network infrastructure is estimated to improve the operational efficiencies in several IoT use cases, including smart homes, smart cities, and industry 4.0. Hence, rising need for high bandwidth in order to provide reliable communication to IoT devices is expected to elevate the overall market growth over the forecast period.
In some countries such as U.S., China, and Japan, the trend of monitoring energy systems of buildings remotely is rising gradually. This is expected to open new opportunities for rolling out 5G services over the forecast period. As such, growing need for remote asset monitoring, drone control and coordination, and smart grid control is anticipated to fuel the growth of the ultra-reliable low-latency communications (uRLLC) segment over the forecast period.
IT and telecom is estimated to dominate the market for 5G services with a share of 24.5% by 2020 and is expected to maintain its lead over the forecast period. This is attributed to the significant investments by corporate players in the adoption of the latest technologies for communication. Growing demand for higher data speeds for residential and commercial applications is estimated to boost the growth of the IT and telecom segment over the forecast period. Besides, 5G services are expected to deliver ubiquitous broadband access between homes and offices, which would encourage remote consultation with specialists and reduce business travels. Growing need for enhanced broadband capacity for virtual business meetings is anticipated to propel the IT and telecom segment growth during the forecast period.
the enhanced mobile broadband (eMBB) segment is estimated to dominate the market for 5G services with a share of 42.5% by 2020 and is expected to witness considerable growth over the forecast period. This is attributed to the preliminary focus by 5G network operators to deliver enhanced broadband capabilities for applications, such as high-speed cloud-based gaming, AR/VR, UHD video, and uninterrupted video calls. The initial phase of the rollout is expected to focus on a 5G wireless non-standalone deployment model. The eMBB provides very high data speeds for residential and commercial use. As such, eMBB is expected to cater to several use cases, such as in-vehicle infotainment, 4K video access, and virtual meeting, thereby fueling the growth of the eMBB segment during the forecast period.
North America is expected to dominate the 5G services market with a share of 34.4% by 2020. Some of the most significant investments in deploying 5G network infrastructure are materializing in the U.S. For instance, according to GVR analysis, mobile operators based in the U.S. invested around USD 250 billion in mobile network infrastructure rollout between 2010 and 2017. The aggressive investments in the U.S. in building smart homes, establishing smart industries, and rolling out smart city projects are expected to contribute to the market growth in North America over the forecast period.
BT Group plc
China Mobile Ltd.
China Telecom Corporation Limited
Bharti Airtel Limited
Saudi Telecom Company
Deutsche Telekom AG
SK Telecom Co., Ltd.
Verizon Communications Inc.
Communication Type Outlook
Fixed Wireless Access (FWA)
Enhanced Mobile Broadband (eMBB)
Ultra-reliable and Low Latency Communications (uRLLC)
Massive Machine-type Communications (mMTC)
Energy & Utility
Media & Entertainment
IT & Telecom
Transportation & Logistics
O&G and Mining
Middle East & Africa (MEA)
The 5G Services market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of 5G Services market for the base year 2020 and the forecast between 2021 and 2028. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global 5G Services market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the 5G Services market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted 5G Services market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the 5G Services capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of 5G Services by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global 5G Services market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2028. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major 5G Services market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of 5G Services market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the 5G Services industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
The 5G Services market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to 5G Services market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of 5G Services market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new 5G Services market. These factors have benefited the growth of the global market for 5G Services. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for 5G Services. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of 5G Services are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
Market Size Estimation
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).
The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.
Market Breakdown and Data Triangulation
After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.
Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.
The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.
The study objectives of this report are:
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