22-aug-19 The global 5G services market size registering a CAGR of 32.1% from 2021 to 2025, according to a new study, Inc. The 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 patients monitoring and remote surgery applications is also anticipated to propel the market growth from 2021 to 2025.
The 5G wireless technology is expected to completely transform the transportation & 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. At the same time, the continued deployment of 5G network infrastructure is estimated to improve the operational efficiencies in several IoT use cases, including developing smart homes, establishing smart cities, and implementing Industry 4.0, among others. Hence, the rising need for higher bandwidth to ensure reliable and seamless communication between IoT devices is expected to propel the market growth over the forecast period.
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In some countries, such as the U.S., China, and Japan, the trend of monitoring energy systems of buildings remotely is gradually rising. This is expected to open new opportunities for rolling out 5G services over the forecast period. As such, the growing need for remote asset monitoring, drone control and coordination, and smart grid control is anticipated to drive the growth of the ultra-reliable and low-latency communications (uRLLC) segment over the forecast period.
Key market players such as AT&T Inc., China Telecommunications Corporation, and Verizon Communications, among others, are investing aggressively in rolling out 5G infrastructure to provide low-latency services for faster machine-to-machine (M2M) communication. However, these market players are expected to deliberate before making investments owing to the high 5G spectrum prices. Stringent governments regulations and policies pertaining to the 5G wireless technology are also expected to hinder the market growth.
Further key findings from the study suggest that:
• U.S. is anticipated to reach USD 73.1 billion by 2025, exhibiting a CAGR of 35.9% from 2021 to 2025, owing to the rising demand for higher data speeds for several end-use applications, including M2M communications, energy & utility management, and smart mobility management
• The enhanced mobile broadband (eMBB) segment is anticipated to gain the largest market share by 2025 owing to the key market players' emphasis on rolling out high-speed and low-latency data networks for residential and commercial applications, such as video conferencing, virtual meeting, and VR/AR gaming
• The manufacturing segment is expected to register a CAGR of 36.0% over the forecast period owing to the rapidly increasing need for seamless connectivity to drive industrial devices, including robots, and actuators, among others
• Market incumbents are focusing on mergers and acquisitions for delivering 5G services in order to strengthen their market presence and expand their product portfolios
• Key players in the 5G services market include AT&T Inc.; BT Group plc; China Mobile Ltd.; China Telecom Corporation Limited; Bharti Airtel Limited; KT Corporation; Saudi Telecom Company; Vodafone Limited; Deutsche Telekom Group; SK Telecom Co., Ltd.; and Verizon Communications Inc.; among others.
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According to new market research report on "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", The 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% during the forecast period.The rising demand for reliable and ultra-low latency connectivity services and growing trends in machine to machine communication are expected factors to have enabled the 5G services market to witness tremendous adoption.Browse and in-depth TOC on “5G Services Market” 59 - Tables34 - Figures 116 - Pages Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=226908556 The connected vehicles vertical grow at the fastest growth rate during the forecast periodThe connected vehicles vertical is expected to grow at the highest CAGR during the forecast period, owing to the advent of autonomous vehicles.
Autonomous vehicles are still in the Research and Development (R) phase; however, they would be available for use in the near future.
The telecom and automotive players formed a 5G Automotive Association to develop, test, and promote communication solutions.
Owing to its remote area coverage and high-speed latent free service offerings, followed by reduced last mile connectivity expenditure, the application would be deployed by a large number of commercial as well as consumer users.Request Customization @ https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=226908556North America to have the largest market share during the forecast periodNorth America is expected to hold the largest market share in the 5G services market.
Due 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.The key players in the 5G services market include AT (US), Airtel (India), BT Group (UK), China Mobile (China), China Telecom (China),Deutsche Telecom (Germany), du (UAE), Korea Telecom (Korea), Sprint (US), Saudi Telecom Company (Saudi Arabia), SK Telecom (South Korea), Telstra (Australia), Vodafone (UK), and Verizon (US).About MarketsandMarkets™MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues.
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