Provided by Infinium Global Research
The global 5G services market was valued at USD 60.69 billion in 2022 and is expected to reach USD 1704.85 billion by 2030, growing at a CAGR of 44.97% during the forecast period 2023-2030.
5G technology is a game-changer for sustainability. High speed and low latency enable real-time environmental data collection and analysis, enabling smarter resource management. In agriculture, 5G will enable precision agriculture with real-time sensor data on soil, weather, and crop health. This translates into optimizing irrigation, fertilization and pesticide use to minimize waste and environmental impact. Likewise, 5G will contribute to a smart grid, improving energy distribution and consumption efficiency. By enabling rapid data transmission from environmental sensors, 5G paves the way for more responsive and sustainable solutions, cementing its role as a key driver for environmentally conscious practices and resource optimization.
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Market Dynamics
Drivers:
Skyrocketing Mobile Data Usage: Growing number of smartphone subscriptions and explosive growth in data consumption are driving the demand for faster and more efficient networks.
Government support: Active involvement of regulators in 5G development will facilitate rapid network deployment and adoption.
Unexplored Potential: 5G offers enormous opportunities for a variety of industries that want fast, low-latency connectivity for their applications.
Restraint:
High infrastructure investment: Building and maintaining the extensive network infrastructure required for 5G is a significant cost barrier. This may slow down the market growth, especially in regions with limited resources for telecommunication development.
Fragmented spectrum allocation (lack of harmonization) across regions makes smooth 5G deployment difficult. This mismatch creates obstacles for carriers and manufacturers, hindering the development of an integrated 5G ecosystem.
Not only does this hinder global device roaming, but it also limits the economies of scale that can be achieved through standardized use of spectrum. International companies face the additional hurdle of adapting devices and networks to different markets. To unlock the full potential of 5G and ensure seamless global integration, international cooperation to promote spectrum harmonization is critical.
Opportunity
Demand for Fixed Wireless Access (FWA) is growing rapidly as the number of mobile service providers offering 5G FWA solutions increases significantly. Ericsson’s 2023 Mobility Report highlights that a whopping 40% of FWA providers are currently leveraging 5G technology. This trend is especially evident in developed countries, with more than 80% of mobile service providers in North America, Europe, the Middle East, and Africa adopting 5G FWA.
The market is adopting innovative approaches beyond traditional speed-based tariffs for fixed broadband services (such as fiber or cable). Notably, in the US, there are two major service providers that have already surpassed 5 million 5G FWA connections. Japan also stands out as a leader in 5G FWA adoption, with all major service providers offering this technology. This also includes standalone 5G (SA) support and a convenient battery-powered pocket router solution.
Regional Analysis
The 5G services market is poised for significant growth in all regions.
Asia Pacific (Key Players): This region is expected to hold the largest share of the market. Major cities in the Asia Pacific region are embracing smart city initiatives, and 5G technology is an important driver of this change. Leading companies including KT, China Telecom, China Mobile, SK Telecom, and Japan are investing heavily to build robust 5G network infrastructure across China, Japan, and Korea. Additionally, mergers, acquisitions, and collaborations are further fueling the market growth in this region.
North America (strong competitor): North America is another strong competitor in the 5G services market. An established corporate presence and early technology adoption culture positions the region for continued growth.
Europe (Major Shareholder): Europe is expected to hold a significant share of the market. Government initiatives will play a key role in driving the development and adoption of 5G services across the region.
Rest of the World (Emerging Potential): Although they may have a slower growth trajectory compared to the leading countries, the rest of the world has promising potential for 5G services. 5G adoption is expected to increase in the region in the coming years as infrastructure development progresses and economies mature.
Market Segmentation
5G Services Market Landscape Revealed: A Look at Key Segments
The report provides a comprehensive analysis of the global 5G Services market through various segmentation lenses.
By communication type:
Fixed Wireless Access (FWA): Provides high-speed Internet access as an alternative to traditional fixed broadband solutions such as cable or fiber.Massive Machine-Type Communication (MMTC): Enables efficient data transfer for numerous low-power devices often used in Internet of Things (IoT) applications.
Ultra-Reliable Low-Latency Communication (URLLC): Supports mission-critical applications that require extremely low latency and high reliability, such as autonomous vehicles and remote surgery.
Other: This category covers new types of communications within the 5G ecosystem.
By Industry:
Manufacturing: 5G will enable automation, real-time monitoring, and optimized production processes in factories.
IT and Telecommunications: This sector will leverage 5G for increased network capacity, enhanced backhaul performance, and innovative service delivery.
Banking, Financial Services and Insurance (BFSI): 5G will facilitate secure and fast data transactions for financial institutions.
Other: This category covers various industries adopting 5G for their specific needs, such as healthcare, energy, transportation, etc.
By Application:
Smart Buildings: 5G will drive building automation, increased energy efficiency, and improved occupant experience.
Smart cities: Enable real-time traffic management, environmental monitoring, and connected infrastructure.
Industry 4.0: 5G is a key driver of the Fourth Industrial Revolution, enabling automation, data-driven decision-making, and interconnected manufacturing processes.
Miscellaneous: This category explores various emerging applications powered by 5G technology.
Competitive Landscape
AT&T, Inc.
BT Group PLC
Bharti Airtel Co., Ltd.
NTT Docomo
KT Co., Ltd.
Saudi Telecommunications Company
Vodafone Group
Deutsche Telekom AG
SK Telecom Co., Ltd.
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Future Outlook
Prepare for the future of connectivity through the comprehensive forecasts in this report. Leverage the IGR-Growth Matrix to identify profitable investment opportunities and gain competitive advantage with Porter's Five Forces analysis. Stay ahead by exploring upcoming trends, including advances in network slicing, the rise of private networks, and the integration of 5G with new technologies like artificial intelligence and edge computing. Regional analysis and forecasts to 2030 help you make informed business decisions and leverage the enormous potential of the global 5G Services market.
Conclusion
The 5G services market is expected to see explosive growth due to factors such as rapid growth in mobile data usage, government support, and the enormous potential of 5G across industries. Although challenges such as high infrastructure investments and spectrum fragmentation exist, the market offers exciting opportunities in areas such as Fixed Wireless Access (FWA). The report helps you navigate the dynamic landscape of the 5G Services market by providing in-depth information on regional changes, key players, and future trends such as network slicing and integration with AI.
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