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Global 5G Services Market to Hit USD 250,100 Million by 2027 | Increasing Data Traffic And Demand For High-Speed Data Connectivity Will Boost The Industry Growth

According to the latest research by SkyQuest Technology, The Global 5G Services Market was valued at USD 45,300 Million in 2020, and it is expected to reach USD 250,100 Million by 2027, with a CAGR of 50% during the forecast period of 2021 – 2027. The research provides an up-to-date analysis of the current market landscape, latest trends, drivers, and overall market environment.

5G wireless mobile services enable a completely mobile and connected environment by providing users with a diverse set of use cases and business models. The faster data speeds and extremely low latency of 5G technology would enhance the user experience when using 5G services for a variety of use cases, such as Virtual Reality (VR) and Augmented Reality (AR) gaming, seamless video calling, and Ultra-High Definition (UHD) videos, to name a few. Furthermore, the increasing demand for high-speed data connectivity for unified Internet of Things (IoT) applications such as smart home energy management is expected to drive adoption of these services.

Furthermore, the growing emphasis of 5G system integration providers on forming partnerships with telecom operators is expected to boost adoption of these services. As part of their efforts to remain competitive in a highly competitive environment, many industry verticals are focusing on technological transformations to improve overall productivity and operational efficiency. The 5G wireless technology has the potential to help realise remarkable transformations across all of these verticals by lowering overall costs and increasing productivity. The continued focus on improving energy monitoring and management, as well as gaining better control of the energy generation and distribution network, is expected to drive market growth over the forecast period.

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Read market research report, ” Global 5G Services Market is segmented By End User (IT & Telecom, Media & Entertainment, Automotive, Energy & Utilities, Aerospace & Defense, and Other End User Industry) & By Region- Forecast and Analysis 2021-2027” by SkyQuest

When it comes to healthcare, some of the world’s largest economies, such as the United States and China, are expected to continue investing heavily in healthcare infrastructure. For example, the National Health Expenditure Accounts (NHEA) of the United States anticipates that overall healthcare spending in the country will exceed USD 5.29 trillion by 2027, with a CAGR of nearly 7% from 2021 to 2027. Modern healthcare would particularly focus on providing patients with technology-driven treatments, thereby driving market growth over the forecast period. Aside from energy and utilities and healthcare, transportation and logistics is another industry vertical that could provide opportunities to this market.

For instance, Vehicle-to-anything (V2X) communication has opened the way for integrated self – driving technology driving. 5G services will be essential in providing seamless Vehicle-to-Infrastructure (V2I) and Vehicle-to-Vehicle (V2V) communication to reduce the likelihood of road accidents. The growing emphasis on providing a safe and improved driving experience with connected vehicles is expected to drive market growth during the forecast period. 5G technologies of the future are progressively being used in urban transport applications.

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The Asia-Pacific region is expected to hold the largest market share of more than 35% in 2021. This is due to the presence of China’s largest 5G Services market. China is one of the most important markets for high-tech automobiles, owing to the country’s growing disposable wealth. Almost every major automaker has placed a bet on China’s compact, low-cost passenger vehicle market. Because automobile penetration in developing countries is lower than in developed countries, a surge in demand is anticipated.

The market is characterized by the presence of a few well-established players. New product launches, partnerships, and investing in research & development have been key business strategies. The major players in the market are AT&T Inc., BT Group Plc, China Mobile Ltd., Bharti Airtel Ltd., NTT Docomo, China Telecom Corporation Ltd., KT Corp, among others.

The report published by SkyQuest Technology Consulting provides in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions.

Report Findings

  • Drivers- Rising data traffic and demand for high-speed data connectivity will drive industry growth. Mobile data traffic (APPs) is increasing exponentially as a result of data-capable devices and high-bandwidth apps, which contributes to industry growth. 5G supports applications like 8K video streaming and Augmented Reality (AR), which helps the industry grow over the forecast year.
  • Restraint- The lack of standard infrastructure for the networks and frequency in developing countries is expected to slow down the demand for 5G Services over the forecast year.

What does this Report Deliver?

  • Market Estimation for 20+ Countries
  • Customization on Segments, Regions, and Company Profiles
  • 100+ tables, 150+ Figures
  • Global and Country Market Trends
  • Comprehensive Mapping of Industry Parameters
  • Attractive Investment Proposition
  • Competitive Strategies Adopted by Leading Market Participants
  • Market drivers, restraints, opportunities, and their impact on the market
  • Market growth rate till 2027
  • Global and Country Market trends
  • Regulatory scenario, regional dynamics, and insights of leading countries in each region
  • Segment trends and analysis
  • Opportunity analysis by region and country
  • Segment opportunity and growth
  • Porter’s five force analysis to know the market’s condition
  • Pricing analysis
  • Parent market analysis
  • Product portfolio benchmarking

SkyQuest has segmented the Global 5G Services Market based on End User, and Region:

  • Global 5G Services Market By End User (Revenue, USD Million, 2020 – 2027)
    • Retail & E-Commerce
    • IT & Telecom
    • Media & Entertainment
    • Automotive
    • Energy & Utilities
    • Aerospace & Defense
    • Other End User Industry
  • 5G Services Regional Outlook (Revenue, USD Million, 2020 – 2027)
    • North America
      • U.S.
      • Canada
    • Europe
      • Germany
      • France
      • UK
      • Italy
      • Spain
      • Rest of Europe
    • Asia Pacific
      • China
      • India
      • Japan
      • Rest of Asia Pacific
    • Central & South America
      • Brazil
      • Rest of CSA
    • Middle East & Africa
      • GCC Countries
      • South Africa
      • Rest of MEA

List of Key Players of the 5G Services Market

  • Nokia Corporation (Finland)
  • Huawei Technologies Co Ltd. (China)
  • AT&T Inc. (US)
  • Verizon Communications Inc (US)
  • Sprint Corporation (US)
  • T-Mobile US, Inc. (US)
  • Deutsche Telekom AG (Germany)
  • Telefonaktiebolaget LM Ericsson (Sweden)
  • Swisscom AG (Switzerland)
  • Vodafone Group (UK)
  • BT Group (UK)
  • Telstra Corporation Limited (Australia)

Speak With our Analyst: https://skyquestt.com/speak-with-analyst/5G-services-market

About Us:

We partner with the world’s most ambitious companies to accelerate growth with breakthrough insights and technology.
Our team is passionate about demystifying dark data and unravel insights that can keep you one step ahead of competition. We connect innovation and technology to new market networks & collaborators for accelerating growth and aligning towards organization’s sustainability goals.

We work with diverse stakeholders from Fortune 1000 companies, Startups, SMEs, Development agencies & Government to help them access hidden data, insights and technologies.

Contact Us:

SkyQuest Technology Consulting Pvt. Ltd.
info@skyquestt.com
USA (+1) 617-230-0741

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