The global 5G services market size is expected to reach USD 480.90 billion by 2030, according to a new study by Polaris Market Research. The report “5G Services Market Share, Size, Trends, Industry Analysis Report, By Communication Type; By End-Use (Smart Cities, Connected Workers, Connected Vehicles, Connected Factories, Smart Buildings, Smart Utilities, Connected Healthcare); By Industry Vertical; By Region; Segment Forecast, 2022 – 2030” gives a detailed insight into current market dynamics and provides analysis on future market growth.
To meet the growing dependency on smartphones and internet-enabled technologies, fifth generation infrastructure and capabilities are expected to be implemented during the forecast years. Furthermore, as the technologies mature, 5G will likely offer a wave of new technologies, uses, and commercial applications, boosting the industry growth.
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Growing IoT usage, high networking requirements, and the ongoing advancement of machine-to-machine connectivity infrastructures are altering numerous vertical industries by linking all sorts of gadgets, platforms, applications, and utilities which is anticipated to propel industry growth. For instance, the global industry turnover for IoT technology is expected to reach $1.1 trillion by the end of 2025, according to the Federation of Indian Chambers of Commerce and Industry (FICCI).
The enhanced mobile broadband (eMBB) segment is expected to dominate the communication segment over the forecast period due to fifth generation network providers’ intense concentration on supplying upgraded mobile solutions for applications, including high cloud-based entertainment, AR/VR, ultra-high-definition broadcasting, and continuous phone conversations.
Asia Pacific is anticipated to hold a significant share in the global industry over the forecast period due to the presence of a large smartphone user base, which has increased the competition among major players in order to provide better services. Furthermore, the presence of major industry players across the region, such as KT Corp., SK Telecom, China Mobile, and others, is also expected to contribute to the increasing demand.
Major market players include such as AT&T, Inc., Saudi Telecom Company, Bharti Airtel Ltd., BT Group plc, China Telecom Corporation Ltd., Deutsche Telekom AG, Telstra, China Mobile Ltd., NTT Docomo, KT Corp., Rakuten Mobile Inc., Telecom Italia, SK Telecom Co., Ltd., Verizon Communications Inc., Sprint Corporation, T-Mobile USA Inc., and Vodafone Group.
Polaris market research has segmented the 5G services market report based communication type, end-use, industry vertical and region:
5G Services, Communication Type Outlook (Revenue – USD Billion, 2018 – 2030)
5G Services, End-Use Outlook (Revenue – USD Billion, 2018 – 2030)
- Smart Cities
- Connected Workers
- Connected Vehicles
- Connected Factories
- Smart Buildings
- Smart Utilities
- Connected Healthcare
5G Services, Industry Vertical Outlook (Revenue – USD Billion, 2018 – 2030)
- Energy & Utility
- Media & Entertainment
- IT & Telecom
- Transportation & Logistics
- Oil & Gas and Mining
- Real Estate
5G Services, Regional Outlook (Revenue – USD Billion, 2018 – 2030)
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa