5G Services Market by Vertical (Smart Cities, Connected Vehicles, Connected Factories, Smart Buildings, Smart Utilities, Connected Healthcare, and Broadband Services), Application (eMBB, MMTC and URLLC, and FWA), and Region - Global Forecast to 2025
Rising demand for reliable and ultra-low latency connectivity services is driving the growth of the 5G services market
The global 5G services market is expected to grow from USD 53.93 billion in 2020 to USD 123.27 Billion by 2025, at a Compound Annual Growth Rate (CAGR) of 18.0% during the forecast period. The rising demand for reliable and ultra-low latency connectivity services, increasing use of connected Internet of Things (IoT) devices, and growing data traffic are some of the factors expected to drive the 5G services market. However, the deployment cost of network services may restrain the growth of the 5G services market.
The broadband vertical to hold the largest market share during the forecast period
The broadband vertical is expected to have the largest market share in the 5G Services market by 2025. The 5G Fixed Wireless Access (FWA) application would disrupt the broadband ecosystem, as companies have started deploying it on a trial basis in several cities. For instance, Verizon Wireless announced its plans to launch 5G FWA for a group of its residential customers in California, US.
The enhanced Mobile Broadband (eMBB) segment to hold the largest market share during the forecast period
The eMBB segment is expected to hold the largest market share during the forecast period. eMBB is initially considered as an extension to 4G services, and would be commercialized by late 2018 or early 2019. Therefore, due to the early adoption of this application, it is expected to hold the largest market share during the forecast period.
North America to grow at the highest CAGR during the forecast period
In terms of growth rate, North America is expected to grow at the fastest growth rate, due to its dominance via sustainable and well-established economies, which enable it to invest heavily in Research and Development (R&D) activities. Owing to the rising adoption of new technologies, such as IoT and smart cities, and increasing need for high-speed internet connectivity, telecom service providers have started trials and tests for 5G services.
In-depth interviews were conducted with Chief Executive Officers (CEOs), marketing directors, innovation and technology directors, and executives from various key organizations operating in the 5G Services market.
The break-up of the profiles of the primary participants is given below:
By Company: Tier 1 - 25%, Tier 2 - 35%, and Tier 3 - 40%
By Designation: C-Level - 45%, Director Level - 51%, and Others - 4%
By Region: North America - 39%, Europe - 25%, APAC - 30%, and Rest of the World (RoW) - 6%
The key 5G services vendors profiled in the report are as follows:
BT Group (UK)
China Mobile (China)
Deutsche Telecom (Germany)
Korea Telecom (Korea)
Saudi Telecom Company (Saudi Arabia)
SK Telecom (South Korea)
The 5G services market has been segmented based on verticals, applications, and regions. A detailed analysis of the key industry players has been done to provide insights into their business overviews; services; key strategies; new service launches; partnerships, agreements, and collaborations; expansions; and competitive landscape associated with the global 5G services market.
Reasons to Buy the Report
The report would help market leaders/new entrants in the following ways:
The report comprehensively segments the 5G services market and provides the closest approximations of the revenue numbers for the overall market and its subsegments across regions.
The report would help stakeholders understand the pulse of the market, and provides the information about the key market drivers, restraints, challenges, and opportunities.
The report would help stakeholders understand their competitors better and gain more insights to enhance their positions in the market. The competitive landscape section includes competitors’ ecosystem, new service developments, partnerships, and acquisitions.