Global 5G Service Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2027
MarketResearch.biz delivers in-depth insights on the global 5G service market in its upcoming report titled, “Global 5G Service Market Trends, Applications, Analysis, Growth, and Forecast: 2017 to 2027”. The global 5G service market is estimated to register a CAGR around 15.2% in terms of value during forecast period 2017–2027. The report offers in-depth insights, revenue details, and other vital information regarding the target market, and the various trends, drivers, restraints, opportunities, and threats till 2027. The report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. The global 5G service market report has been segmented on the basis of application, vertical, and region.
This report is based on synthesis, analysis, and interpretation of information gathered regarding the target market from various sources. Our analysts have analyzed the information and data and gained insights using a mix of primary and secondary research efforts with the primary objective to provide a holistic view of the market. In addition, an in-house study has been made of the global economic conditions and other economic indicators and factors to assess their respective impact on the market historically, as well as the current impact in order to make informed forecasts about the scenarios in future.
5G technology is an upcoming cellular technology provides faster means of communication. 5G services offers high bandwidth, good spectrum management, segregation of data, and routing. Smart mobile networks are expected to connect with more devices, handle more data, significantly reduce latency, and reliable. This technology is more beneficial for companies operating into robotics, automation, and IoT.
Increasing demand of mobile data traffic volume, reliable, and ultra-low latency connectivity services are major factors expected to drive growth of the global market over the forecast period. In addition, rising adoption of broadband services is another factor expected to further fuel growth of the target market in the near future. Furthermore, growing demand of high speed and large network coverage across various industries such as Information Technology, automotive, healthcare, consumer electronic, etc., is another factor expected to drive growth of this market over the forecast period. Moreover, increasing government initiatives towards improving service sector across various countries is another factor expected to propel growth of the target market over the forecast period.
However, 5G technology is still under development, it will have some security and privacy issue is expected to restrain growth of the global market. Moreover, high cost of 5G mobile phones and other devices is another factor expected to hamper growth of the target market over the forecast period.
Increasing investment in research and development activities to launch new technologies and services are expected to create potential revenue opportunities for players operating in the target market over the forecast period.
Ongoing trend observed in the target market is increasing dependency on machine to machine communication and this trend is expected to continue over the forecast period.
The market in North America followed by Europe is expected to dominate the target market in terms of revenue over the forecast period, owing to technological advancements and early adoption of new technologies such as Internet of Things (IoT), smart cities, etc., in various countries in these regions. In addition, the market in Asia Pacific is expected to register significant share over the forecast period, owing to improved industrial infrastructure and growing awareness of new technologies in various countries in this region.
Global 5G service market segmentation:
Segmentation by application:
- mMTC and URLLC
Segmentation by vertical:
- Energy and utility
- Consumer electronics
- Intelligent building and infrastructure
- Public safety and surveillance
- Others (educational institutes, agriculture, and data centers)
Segmentation by region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Particular Scope Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Estimated Year 2020 Actual Year 2021 Forecast Period 2021–2030 Revenue in US$
- Cisco systems Inc.
- Samsung Electronics Co Ltd.
- Ericsson Inc.
- QUALCOMM Incorporated
- Intel Corporation
- Verizon Communications Inc.
- AT&T Inc.
- SK Telecom Co., Ltd.
- NEC Corporation
- Nokia Corporation
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