Global 5G Services Market Size By Segmentations, Top Key Players, Trend, Future Development & Forecast 2024-2035
- PUBLISHED ON
- 11/23/2022
- NO OF PAGES
- 259
- CATEGORY
- Electronics & Communication
Market Overview:
The global 5G Services Market size was valued at USD 107.56 billion in 2022, and is projected to reach USD 332.57 billion by 2032 at a CAGR of 28.5% from 2022 to 2032.
The 5G services market refers to the emerging market for the fifth generation of mobile networks, which promises to deliver faster speeds, lower latency, and greater capacity than previous generations of wireless networks. With 5G, mobile networks will be capable of supporting a range of new applications and use cases, including autonomous vehicles, smart cities, virtual and augmented reality, and much more. One of the most significant advantages of 5G is its speed. While 4G networks typically offer peak download speeds of around 100 Mbps, 5G networks can deliver speeds of up to 10 Gbps, which is a hundred times faster than 4G. This increased speed will enable a wide range of new applications, including virtual and augmented reality experiences, high-quality video streaming, and much more.
Another key advantage of 5G is its lower latency, which refers to the time it takes for a data packet to travel from one device to another. With 5G, latency will be reduced to as little as 1 millisecond, compared to 50 milliseconds on 4G networks. This will be especially important for applications that require real-time communication, such as autonomous vehicles or remote surgery. In addition to speed and latency improvements, 5G networks will also offer greater capacity than 4G networks. This means that more devices will be able to connect to the network simultaneously, without causing congestion or slowing down the network. One of the biggest trends in the 5G services market is the growing demand for connected devices and the Internet of Things (IoT). With 5G, it will be possible to connect a wide range of devices, from smartphones and tablets to sensors and industrial equipment. This will enable new use cases, such as remote monitoring and control of industrial equipment, or real-time tracking of assets in logistics and supply chain management.
Growing demand for high-speed mobile data services is propelling the market growth.
One major driving factor of the 5G services market is the increasing demand for high-speed mobile data services. The growth of mobile data usage has been significant over the past few years, driven by the increasing use of smartphones, tablets, and other mobile devices. Consumers are now using their mobile devices for a wide range of activities, including browsing the internet, streaming videos and music, and using social media. As mobile data usage has increased, so has the demand for faster and more reliable mobile networks. 4G networks have helped to meet some of this demand, but they are starting to reach their limits in terms of speed and capacity. This is where 5G comes in, offering much faster speeds and greater capacity than 4G networks. With 5G, consumers will be able to do even more with their mobile devices, such as streaming high-quality video without buffering or playing online games with minimal lag. The demand for high-speed mobile data services is expected to continue to grow in the coming years, driven by the increasing use of data-intensive applications and services. For example, the use of cloud-based services, such as file storage and sharing, is growing rapidly, and these services require fast and reliable internet connections. Similarly, the use of streaming video services, such as Netflix and YouTube, is also increasing, and these services require high-speed internet connections to deliver a smooth and uninterrupted viewing experience.
Segmentation:
By Application
· Autonomous Vehicles
· Smart Cities
· Augmented and Virtual Reality
· Industrial Automation
· Smart Grids and Energy Management
· Healthcare
· Gaming and Entertainment
· Public Safety and Emergency Services
By End User
· Consumers
· Enterprises
· Governments and Public Sector
· Industrial
· Healthcare
Geography:
The 5G services market is a global market, and there are several regions that are expected to play a significant role in driving its growth. Currently, Asia-Pacific (APAC) is considered to be the dominant region in the 5G services market. The dominance of the APAC region in the 5G services market can be attributed to several factors. Many countries in the region have already made significant investments in 5G infrastructure, and are actively rolling out commercial 5G services. Countries like China, South Korea, and Japan are leading the way in 5G deployment, with large-scale investments in network infrastructure and the development of use cases. Ultimately, the global market for 5G services is expected to be driven by strong demand from consumers and businesses around the world, as they seek faster, more reliable, and more advanced mobile connectivity.
Impact of COVID-19 on the global 5G Services Market:
The COVID-19 pandemic has had a significant impact on the 5G services market, both positive and negative. On the positive side, the pandemic has highlighted the importance of digital connectivity and accelerated the adoption of remote work and other digital solutions. This has led to increased demand for 5G services, as businesses and individuals look for faster and more reliable internet connections to support remote work, virtual meetings, and other digital activities. The pandemic has also led to increased demand for telemedicine and other remote healthcare services, which require high-speed and low-latency connectivity that 5G can provide. On the negative side, the pandemic has also had a significant impact on supply chains and infrastructure development. The pandemic has caused delays and disruptions in the construction of 5G infrastructure, as well as the development of new devices and applications that can take advantage of 5G technology. This has slowed down the rollout of 5G services in some regions and countries, and has also led to increased costs and uncertainty for some companies.
Impact of the Russia-Ukraine War on the global 5G Services Market:
The ongoing conflict between Russia and Ukraine can have several potential impacts on the 5G services market, particularly in Europe and neighboring regions. One potential impact is on the development and deployment of 5G infrastructure. The conflict may disrupt the construction and expansion of 5G networks in Ukraine and other neighboring countries, as well as create challenges for companies and vendors that rely on supply chains that pass through the region. This could lead to delays and increased costs for 5G infrastructure projects, as well as potentially limit the reach and coverage of 5G services in affected areas.
Another potential impact is on the regulatory environment for 5G services in affected regions. Governments and regulators may become more cautious about allowing companies and vendors with ties to Russia to participate in 5G infrastructure projects or provide 5G services. This could lead to increased scrutiny and restrictions on companies like Huawei, which has faced similar concerns in other regions due to its perceived ties to the Chinese government. The conflict may also have indirect impacts on the global 5G market, particularly if it leads to increased political and economic tensions between Russia and other countries. This could potentially affect the supply chains for 5G devices and equipment, as well as the investment and regulatory environment for 5G services in affected regions.
Company Profiles:
· Huawei Technologies Co. Ltd.
· Nokia Corporation
· Samsung Electronics Co. Ltd.
· Ericsson AB
· Qualcomm Inc.
· ZTE Corporation
· Intel Corporation
· Cisco Systems Inc.
· Verizon Communications Inc.
· AT&T Inc.
· China Mobile Ltd.
· Deutsche Telekom AG
· Telefonica S.A.
· Orange S.A.
· Vodafone Group Plc.
Global 5G Services Market: By Applications
Internet of Things (IoT)
Robotics & Automation
Virtual Reality
Other
By Region
North America
U.S.
Canada
Europe
Germany
France
U.K.
Italy
Russia
Nordic
Rest of Europe
Asia-Pacific
China
Japan
South Korea
Southeast Asia
India
Australia
Rest of Asia
Latin America
Mexico
Brazil
Rest of Latin America
Middle East & Africa
Turkey
Saudi Arabia
UAE
Rest of MEA
Global 5G Services Market: Market Size Estimation
Both the top-down and bottom-up approaches were used to estimate and validate the size of the market and to estimate the size of various other dependent sub-markets of various marketspaces. The key players in the markets are identified through secondary research, and their market contributions in different applications across regions and globally were determined through primary and secondary research. This entire process included the study of the annual and financial reports of the top market players and extensive interviews for key insights with industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares, splits, and breakdowns were determined using secondary sources and verified through primary sources. All the possible parameters that affect the market covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analysed to arrive at the final quantitative and qualitative data. This data has been consolidated, and detailed inputs and analysis from Analytics Market Research added before being presented in this report.
Reasons to Purchase 5G Services Market Report
• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors
• Provision of market value (USD Billion) data for each segment and sub-segment
• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market
• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled
• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players
• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions
• Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis
• Provides insight into the market through Value Chain
• Market dynamics scenario, along with growth opportunities of the market in the years to come
Frequently Asked Questions
• What is the market size and growth projections?
• What is the market size and growth projection for each of the market segments and sub-segments across Countries & Regions?
• What are the top performing segments, and countries / regions of each of the markets?
• What is the market size and growth rate across key countries / regions?
• How big is the global & regional market in terms of revenue and volume?
• How far market will grow in forecast period in terms of revenue and volume?
• What factors will influence demand and supply trends across each markets during the forecast period?
• What are the technology trends shaping various markets?
• Which country / region has more opportunities?
• What is the COVID-19 impact on the market and how long will it take to recover?
• Who are the key competitors of market Players?
• What are the market share (%) of Key Players?
• What are the Merger & Acquisition, New Product Launch, Recent Development within each of the Markets?
• What are PEST analysis, Ecosystem Analysis, Porter's Five Forecast Analysis, Ansoff Matrix, and SWOT Analysis among other analyses for diverse markets?
Historic Year: 2016-2022
Forecast: 2024-2035
1.1 Study Scope
1.2 Market Analysis by Type
1.2.1 Global 5G Services Market Size Growth Rate by Type: 2016 VS 2021 VS 2030
1.2.2 Cognitive Radio Spectrum Sensing Techniques
1.2.3 Multi-Technology Carrier Aggregation
1.2.4 Massive MIMO
1.2.5 Other
1.3 Market by Application
1.3.1 Global 5G Services Market Share by Application: 2016 VS 2021 VS 2030
1.3.2 Internet of Things (IoT)
1.3.3 Robotics & Automation
1.3.4 Virtual Reality
1.3.5 Other
1.4 Study Objectives
1.5 Years Considered
2 Global Growth Trends
2.1 Global 5G Services Market Perspective (2016-2030)
2.2 5G Services Growth Trends by Regions
2.2.1 5G Services Market Size by Regions: 2016 VS 2021 VS 2030
2.2.2 5G Services Historic Market Share by Regions (2016-2021)
2.2.3 5G Services Forecasted Market Size by Regions (2022-2030)
2.3 5G Services Industry Dynamic
2.3.1 5G Services Market Trends
2.3.2 5G Services Market Drivers
2.3.3 5G Services Market Challenges
2.3.4 5G Services Market Restraints
3 Competition Landscape by Key Players
3.1 Global Top 5G Services Players by Revenue
3.1.1 Global Top 5G Services Players by Revenue (2016-2021)
3.1.2 Global 5G Services Revenue Market Share by Players (2016-2021)
3.2 Global 5G Services Market Share by Company Type (Tier 1, Tier 2 and Tier 3)
3.3 Players Covered: Ranking by 5G Services Revenue
3.4 Global 5G Services Market Concentration Ratio
3.4.1 Global 5G Services Market Concentration Ratio (CR5 and HHI)
3.4.2 Global Top 10 and Top 5 Companies by 5G Services Revenue in 2020
3.5 5G Services Key Players Head office and Area Served
3.6 Key Players 5G Services Product Solution and Service
3.7 Date of Enter into 5G Services Market
3.8 Mergers & Acquisitions, Expansion Plans
4 5G Services Breakdown Data by Type
4.1 Global 5G Services Historic Market Size by Type (2016-2021)
4.2 Global 5G Services Forecasted Market Size by Type (2022-2030)
5 5G Services Breakdown Data by Application
5.1 Global 5G Services Historic Market Size by Application (2016-2021)
5.2 Global 5G Services Forecasted Market Size by Application (2022-2030)
6 North America
6.1 North America 5G Services Market Size (2016-2030)
6.2 North America 5G Services Market Size by Type
6.2.1 North America 5G Services Market Size by Type (2016-2021)
6.2.2 North America 5G Services Market Size by Type (2022-2030)
6.2.3 North America 5G Services Market Size by Type (2016-2030)
6.3 North America 5G Services Market Size by Application
6.3.1 North America 5G Services Market Size by Application (2016-2021)
6.3.2 North America 5G Services Market Size by Application (2022-2030)
6.3.3 North America 5G Services Market Size by Application (2016-2030)
6.4 North America 5G Services Market Size by Country
6.4.1 North America 5G Services Market Size by Country (2016-2021)
6.4.2 North America 5G Services Market Size by Country (2022-2030)
6.4.3 United States
6.4.3 Canada
7 Europe
7.1 Europe 5G Services Market Size (2016-2030)
7.2 Europe 5G Services Market Size by Type
7.2.1 Europe 5G Services Market Size by Type (2016-2021)
7.2.2 Europe 5G Services Market Size by Type (2022-2030)
7.2.3 Europe 5G Services Market Size by Type (2016-2030)
7.3 Europe 5G Services Market Size by Application
7.3.1 Europe 5G Services Market Size by Application (2016-2021)
7.3.2 Europe 5G Services Market Size by Application (2022-2030)
7.3.3 Europe 5G Services Market Size by Application (2016-2030)
7.4 Europe 5G Services Market Size by Country
7.4.1 Europe 5G Services Market Size by Country (2016-2021)
7.4.2 Europe 5G Services Market Size by Country (2022-2030)
7.4.3 Germany
7.4.4 France
7.4.5 U.K.
7.4.6 Italy
7.4.7 Russia
7.4.8 Nordic
8 Asia-Pacific
8.1 Asia-Pacific 5G Services Market Size (2016-2030)
8.2 Asia-Pacific 5G Services Market Size by Type
8.2.1 Asia-Pacific 5G Services Market Size by Type (2016-2021)
8.2.2 Asia-Pacific 5G Services Market Size by Type (2022-2030)
8.2.3 Asia-Pacific 5G Services Market Size by Type (2016-2030)
8.3 Asia-Pacific 5G Services Market Size by Application
8.3.1 Asia-Pacific 5G Services Market Size by Application (2016-2021)
8.3.2 Asia-Pacific 5G Services Market Size by Application (2022-2030)
8.3.3 Asia-Pacific 5G Services Market Size by Application (2016-2030)
8.4 Asia-Pacific 5G Services Market Size by Region
8.4.1 Asia-Pacific 5G Services Market Size by Region (2016-2021)
8.4.2 Asia-Pacific 5G Services Market Size by Region (2022-2030)
8.4.3 China
8.4.4 Japan
8.4.5 South Korea
8.4.6 Southeast Asia
8.4.7 India
8.4.8 Australia
9 Latin America
9.1 Latin America 5G Services Market Size (2016-2030)
9.2 Latin America 5G Services Market Size by Type
9.2.1 Latin America 5G Services Market Size by Type (2016-2021)
9.2.2 Latin America 5G Services Market Size by Type (2022-2030)
9.2.3 Latin America 5G Services Market Size by Type (2016-2030)
9.3 Latin America 5G Services Market Size by Application
9.3.1 Latin America 5G Services Market Size by Application (2016-2021)
9.3.2 Latin America 5G Services Market Size by Application (2022-2030)
9.3.3 Latin America 5G Services Market Size by Application (2016-2030)
9.4 Latin America 5G Services Market Size by Country
9.4.1 Latin America 5G Services Market Size by Country (2016-2021)
9.4.2 Latin America 5G Services Market Size by Country (2022-2030)
9.4.3 Mexico
9.4.4 Brazil
10 Middle East & Africa
10.1 Middle East & Africa 5G Services Market Size (2016-2030)
10.2 Middle East & Africa 5G Services Market Size by Type
10.2.1 Middle East & Africa 5G Services Market Size by Type (2016-2021)
10.2.2 Middle East & Africa 5G Services Market Size by Type (2022-2030)
10.2.3 Middle East & Africa 5G Services Market Size by Type (2016-2030)
10.3 Middle East & Africa 5G Services Market Size by Application
10.3.1 Middle East & Africa 5G Services Market Size by Application (2016-2021)
10.3.2 Middle East & Africa 5G Services Market Size by Application (2022-2030)
10.3.3 Middle East & Africa 5G Services Market Size by Application (2016-2030)
10.4 Middle East & Africa 5G Services Market Size by Country
10.4.1 Middle East & Africa 5G Services Market Size by Country (2016-2021)
10.4.2 Middle East & Africa 5G Services Market Size by Country (2022-2030)
10.4.3 Turkey
10.4.4 Saudi Arabia
10.4.5 UAE
11 Key Players Profiles
11.1 Cisco Systems
11.1.1 Cisco Systems Company Details
11.1.2 Cisco Systems Business Overview
11.1.3 Cisco Systems 5G Services Introduction
11.1.4 Cisco Systems Revenue in 5G Services Business (2016-2021)
11.1.5 Cisco Systems Recent Development
11.2 Samsung Electronics
11.2.1 Samsung Electronics Company Details
11.2.2 Samsung Electronics Business Overview
11.2.3 Samsung Electronics 5G Services Introduction
11.2.4 Samsung Electronics Revenue in 5G Services Business (2016-2021)
11.2.5 Samsung Electronics Recent Development
11.3 Ericsson
11.3.1 Ericsson Company Details
11.3.2 Ericsson Business Overview
11.3.3 Ericsson 5G Services Introduction
11.3.4 Ericsson Revenue in 5G Services Business (2016-2021)
11.3.5 Ericsson Recent Development
11.4 Qualcomm
11.4.1 Qualcomm Company Details
11.4.2 Qualcomm Business Overview
11.4.3 Qualcomm 5G Services Introduction
11.4.4 Qualcomm Revenue in 5G Services Business (2016-2021)
11.4.5 Qualcomm Recent Development
11.5 Intel Corporation
11.5.1 Intel Corporation Company Details
11.5.2 Intel Corporation Business Overview
11.5.3 Intel Corporation 5G Services Introduction
11.5.4 Intel Corporation Revenue in 5G Services Business (2016-2021)
11.5.5 Intel Corporation Recent Development
11.6 Verizon Communications
11.6.1 Verizon Communications Company Details
11.6.2 Verizon Communications Business Overview
11.6.3 Verizon Communications 5G Services Introduction
11.6.4 Verizon Communications Revenue in 5G Services Business (2016-2021)
11.6.5 Verizon Communications Recent Development
11.7 AT & T Inc
11.7.1 AT & T Inc Company Details
11.7.2 AT & T Inc Business Overview
11.7.3 AT & T Inc 5G Services Introduction
11.7.4 AT & T Inc Revenue in 5G Services Business (2016-2021)
11.7.5 AT & T Inc Recent Development
11.8 LG
11.8.1 LG Company Details
11.8.2 LG Business Overview
11.8.3 LG 5G Services Introduction
11.8.4 LG Revenue in 5G Services Business (2016-2021)
11.8.5 LG Recent Development
11.9 SK Telecom
11.9.1 SK Telecom Company Details
11.9.2 SK Telecom Business Overview
11.9.3 SK Telecom 5G Services Introduction
11.9.4 SK Telecom Revenue in 5G Services Business (2016-2021)
11.9.5 SK Telecom Recent Development
11.10 Nokia Networks
11.10.1 Nokia Networks Company Details
11.10.2 Nokia Networks Business Overview
11.10.3 Nokia Networks 5G Services Introduction
11.10.4 Nokia Networks Revenue in 5G Services Business (2016-2021)
11.10.5 Nokia Networks Recent Development
11.11 NEC Corporation
11.11.1 NEC Corporation Company Details
11.11.2 NEC Corporation Business Overview
11.11.3 NEC Corporation 5G Services Introduction
11.11.4 NEC Corporation Revenue in 5G Services Business (2016-2021)
11.11.5 NEC Corporation Recent Development
11.12 Huawei
11.12.1 Huawei Company Details
11.12.2 Huawei Business Overview
11.12.3 Huawei 5G Services Introduction
11.12.4 Huawei Revenue in 5G Services Business (2016-2021)
11.12.5 Huawei Recent Development
11.13 T-Mobile USA
11.13.1 T-Mobile USA Company Details
11.13.2 T-Mobile USA Business Overview
11.13.3 T-Mobile USA 5G Services Introduction
11.13.4 T-Mobile USA Revenue in 5G Services Business (2016-2021)
11.13.5 T-Mobile USA Recent Development
11.14 Korea Telecom
11.14.1 Korea Telecom Company Details
11.14.2 Korea Telecom Business Overview
11.14.3 Korea Telecom 5G Services Introduction
11.14.4 Korea Telecom Revenue in 5G Services Business (2016-2021)
11.14.5 Korea Telecom Recent Development
11.15 China Mobile
11.15.1 China Mobile Company Details
11.15.2 China Mobile Business Overview
11.15.3 China Mobile 5G Services Introduction
11.15.4 China Mobile Revenue in 5G Services Business (2016-2021)
11.15.5 China Mobile Recent Development
12 Analyst's Viewpoints/Conclusions
13 Appendix
13.1 Research Methodology
13.1.1 Methodology/Research Approach
13.1.2 Data Source
13.2 Disclaimer
13.3 Author Details
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Case Study- Automotive Sector
One of the key manufacturers of automotive had plans to invest in electric utility vehicles. The electric cars and associated markets being a of evolving nature, the automotive client approached Straits Research for a detailed insight on the market forecasts. The client specifically asked for competitive analysis, regulatory framework, regional prospects studied under the influence of drivers, challenges, opportunities, and pricing in terms of revenue and sales (million units).
Solution
The overall study was executed in three stages, intending to help the client meet its objective of precisely understanding the entire market before deciding on an investment. At first, secondary research was conducted considering political, economic, social, and technological parameters to get a gist of the various aspects of the market. This stage of the study concluded with the derivation of drivers, opportunities, and challenges. It also laid substantial emphasis on understanding and collecting data not only on a global scale but also on the regional and country levels. Data Extraction through Primary Research
The second stage involved primary research in which several market players and automotive parts suppliers were contacted to study their viewpoint concerning the development of their market and production capacity, clientele, and product line. This stage concluded in a brief understanding of the competitive ecosystem and also glanced through the strategies and pricing of the companies profiled.
Market Estimates and Forecast
In the final stage of the study, market forecasts for the electric utility were derived using multiple market engineering approaches. This data helped the client to get an overview of the market and accelerate the process of investment.
Case Study- ICT Sector
Business process outsourcing, being one of the lucrative markets from both supply- and demand- side, has appealed to various companies. One of the prominent corporations based out of Japan approached us with their requirements regarding the scope of the procurement outsourcing market for around 50 countries. Additionally, the client also sought key players operating in the market and their revenue breakdown in terms of region and application.
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An exhaustive market study was conducted based on primary and secondary research that involved factors such as labor costs in various countries, skilled and technical labors, manufacturing scenario, and their respective contributions in the global GDP. A comparative study of the market was conducted from both supply- and demand side, with the supply-side comprising of notable companies, such as GEP, Accenture, and others, that provide these services. On the other hand, large manufacturing companies from them demand-side were considered that opt for these services.
Conclusion
The report aided the client in understanding the market trends, including country-level business scenarios, consumer behavior, and trends in 50 countries. The report also provided financial insights of crucial players and detailed market estimations and forecasts till 2028.
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