5g Services Market

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5G Services Market- Global Industry Size, Share, Growth, Opportunity and Forecast, 2018-2028, Segmented By End-User {Consumers, Enterprises {Manufacturing, Media And Entertainment, Government, Energy And Utilities, Transportation And Logistics, Healthcare, Others}, By Communication Type (Fixed Wireless Access, Enhanced Mobile Broadband, Massive Machine-Type Communications, Ultra-Reliable Low-Latency), By Application (Smart Cities, Connected Factories, Smart Buildings, Connected Vehicles, Connected Healthcare, Connected Retail, Smart Utilities, Others), By End User (Consumers, Enterprises), By Region (North America, Europe, Asia-Pacific (APAC), Latin America (LATAM), Middle-East & Africa (MEA)

Published Date: April 2022
Report ID: BWC22112
Available Format: PDF
Page: 195

Report Overview

Global 5G services market is growing at a high rate owing to the rising demand for higher internet speed and connectivity along with the increasing adoption of internet-based advanced technologies including IoT, artificial intelligence (AI), machine learning, etc...

Global 5G Services Market- Industry Trends & Forecast Report 2028

Global 5G services market was worth USD 46.5 billion in 2021 and is further projected to reach USD 681.2 billion by the year 2028, growing at the CAGR of 47.3% in the forecast period. The rapid growth of the market is attributed to the rising demand for higher internet speed and connectivity along with the increasing adoption of internet-based advanced technologies including IoT, artificial intelligence (AI), machine learning (ML), etc. Furthermore, favorable government initiatives and expanding investment in telecom operation in establishing 5G services are also propelling the growth of the market.

5G Services Market

5G Services - Overview

Global 5G is the fifth-generation technology standard for broadband cellular networks. Most cellular phone companies are investing in deploying this technology and are projected to take over 4G networks that currently provide connectivity. According to the GSM Association, more than 1.7 billion subscribers worldwide are projected to use 5G networks by 2025. The 5G services offer a great advantage over 4G as they have greater bandwidth and higher download speeds. It also provides ultra-reliable low latency communications.

Global 5G Services Market Forecast and Trends

Growth Drivers

Government Investment and Initiatives in 5G Infrastructure

The governments of various countries are significantly investing and taking various initiatives into the deployment of 5G infrastructure in their regions. The initiatives include subsidies, faster sanctioning of 5G setup installations by the telecom operators, etc. For instance, the United States Government, in close collaboration with international and industry partners, is working to enhance the security of 5G networks and has developed a comprehensive plan, which ought to be managed by the National Security Council, and the National Economic Council.

Rising Adoption in Healthcare Industry

The 5G services are gaining significant traction in the medical and healthcare industry. The wide range of services 5G can offer is expected to transform the entire healthcare industry. For instance, the medical devices manufacturers can apply 5G to monitor the performance of medical devices in real-time and can make necessary changes and maintenance to save efforts. Furthermore, expanding the scope of telemedicine and remote patient monitoring is also providing lucrative growth opportunities to the 5G services market.

Restraints

High Initial Capital Involved in 5G Deployment

The building and implementation of 5G require heavy initial capital, which may act as the major hindrance for the market growth. The high cost of fiber optics, density, base station price, etc., which is involved in 5G deployment directly influences the cost of its infrastructure. This may hinder its adoption in middle and low-income countries and can highly concentrate the 5G services among developed nations only, which is bound to restrict the overall market growth after a certain period of time.

Impact of COVID-19 on Global 5G Services Market

Global 5G services market was tremendously halted due to the COVID-19 pandemic outbreak. The government and telecom operators had to temporarily pause their 5G setup and IT infrastructure development due to restrictions on operations and supply chains, which directly impacted the market growth. Furthermore, various end-users also limited or cut down their investment in the adoption of Industrial Internet of Things (IIoT) and connected technologies, which also emerged as a major challenge for the global 5G services market during the COVID-19 period. However, the market is projected to witness tremendous growth during the upcoming years.

Global 5G Services Market - By Communication Type

Based on communication type, the global 5G services market is segmented into fixed wireless access (FWA), enhanced mobile broadband (eMBB), massive machine-type communications (MMTC), and ultra-reliable low-latency (URLLC). The eMBB segment accounts for the largest market share in 2021 as it is one of the core features of 5G services. The eMBB communication type significantly focuses on the high speed of end-user data and system capacity. It provides the greater capacity necessary to support peak data rates of the end-users, which is driving its market growth.

Global 5G Services Market - By Application

Based on application, the global 5G services market is categorized into smart cities, connected factories, smart buildings, connected vehicles, connected healthcare, connected retail, smart utilities, and others. The connected factories segment accounts for the largest market share in 2021 owing to the significant surge in the adoption of IIoT devices to leverage the benefits of data analytics, predictive maintenance, eliminating risks and errors, etc. However, the smart cities segment also covers a substantial market share owing to various government initiatives for establishing smart cities.

Global 5G Services Market - Regional Insights

Geographically, the global 5G services market is segmented into North America, Europe, Asia-Pacific, Latin America, Middle East & Africa. The Asia-Pacific region dominates the global 5G services market in 2021. The government and leading telecom operators in this region are significantly investing in 5G network infrastructure to boost internet connectivity. Furthermore, the increasing adoption of advanced technologies including IoT, AI, etc., among various industries such as manufacturing, transportation, logistics, etc., is anticipated to provide lucrative growth opportunities to the market in the forecast period.

Competitive Landscape

The leading market players of the global 5G services market are AT&T, Nokia Corporation, China Mobile, SK Telecom, Verizon, BT Group, Telekom, T-Mobile, China Telecom, Orange S.A, Vodafone, China Unicom, Telstra, KT, Rogers, Bell Canada, Etisalat, STC, LG U+, NTT Docomo, and other prominent players. Global 5G services market is highly competitive and concentrated with the presence of leading multinational conglomerates. These companies significantly invest towards bringing technological advancements and launching innovative offerings to gain a market edge. Furthermore, the adoption of competitive strategies such as mergers, acquisitions, partnerships, joint ventures, etc., is also prominent in this market.

Recent Development

In February 2022, NTT Ltd., a London-based global technology services company, announced its partnership with ServiceNow, an American software company, to simplify and accelerate the adoption of private 5G through an AI-enabled end-to-end workflow automation platform.
In February 2022, Cisco Systems, announced new network technologies including Wi-Fi 6E, private 5G, and security improvements, to assist with hybrid work.

Scope of the Report

Attributes	Details
Years Considered	Historical data – 2018-2021
	Base Year – 2021
	Forecast – 2022 – 2028
Facts Covered	Revenue in USD Billion
Market Coverage	U.S, Canada, Germany, UK, France, Italy, Spain, Brazil, Mexico, Japan, South Korea, China, India, UAE, South Africa, Saudi Arabia
Product Service/Segmentation	By Communication Type, By Application, By End User, By Region
Key Players	AT&T, Nokia Corporation, China Mobile, SK Telecom, Verizon, BT Group, Telekom, T-Mobile, China Telecom, Orange S.A, Vodafone, China Unicom, Telstra, KT, Rogers, Bell Canada, Etisalat, STC, LG U+, NTT Docomo, and other prominent players.

By Communication Type

Fixed Wireless Access (FWA)
Enhanced Mobile Broadband (eMMB)
Massive Machine-Type Communications (MMTC)
Ultra-Reliable Low-Latency (URLLC)

By Application

Smart Cities
Connected Factories
Smart Buildings
Connected Vehicles
Connected Healthcare
Connected Retail
Smart Utilities
Others

By End User

Consumers
Enterprises

Manufacturing
Media and Entertainment
Government
Energy and Utilities
Transportation and Logistics
Healthcare
Others

By Region

North America
Europe
Asia-Pacific (APAC)
Latin America (LATAM)
Middle East & Africa (MEA)

Research Framework
1. Research Objective
2. Product Overview
3. Market Segmentation
Research Methodology
1. Qualitative Research
  1. Primary & Secondary Research
2. Quantitative Research
3. Market Breakdown & Data Triangulation
  1. Secondary Research
  2. Primary Research
4. Breakdown of Primary Research Respondents, By Region
5. Assumption & Limitation
Executive Summary
Global 5G Service Market Insights
1. Industry Value Chain Analysis
2. DROC Analysis
  1. Growth Drivers
  2. Restraints
  3. Opportunities
  4. Challenges
3. Technological Landscape/Recent Development
4. Regulatory Framework
5. Porter’s Five Forces Analysis
  1. Bargaining Power of Suppliers
  2. Bargaining Power of Buyers
  3. Threat of New Entrants
  4. Threat of Substitutes
  5. Intensity of Rivalry
Global 5G Service Market Overview
1. Market Size & Forecast by Value, 2018-2028
  1. By Value (USD Million)
2. Market Share & Forecast
  1. By End-User
    1. Consumers
    2. Enterprises
      1. Manufacturing
      2. Energy and Utilities
      3. Media and Entertainment
      4. Government
      5. Transportation and Logistics
      6. Healthcare
      7. Others
  2. By Communication Type
    1. Fixed Wireless Access (FWA)
    2. Enhanced Mobile Broadband (eMBB)
    3. Ultra-Reliable Low-Latency (URLLC)
    4. Massive Machine-Type Communications (MMTC)
  3. By Application
    1. Smart Cities
    2. Connected Factories
    3. Smart Buildings
    4. Connected Vehicles
    5. Connected Healthcare
    6. Connected Retail
    7. Smart Utilities
    8. Others
  4. By Region
    1. North America
    2. Europe
    3. The Asia Pacific
    4. Latin America
    5. The Middle East and Africa
North America 5G Service Market
1. Market Size & Forecast by Value, 2018-2028
  1. By Value (USD Million)
2. Market Share & Forecast
  1. By End-User
  2. By Communication Type
  3. By Application
  4. By Country
    1. United States
    2. Canada
Europe 5G Service Market
1. Market Size & Forecast by Value, 2018-2028
  1. By Value (USD Million)
2. Market Share & Forecast
  1. By End-User
  2. By Communication Type
  3. By Application
  4. By Country
    1. Germany
    2. United Kingdom
    3. Italy
    4. France
    5. Spain
    6. Rest of Europe
The Asia Pacific 5G Service Market
1. Market Size & Forecast by Value, 2018-2028
  1. By Value (USD Million)
2. Market Share & Forecast
  1. By End-User
  2. By Communication Type
  3. By Application
  4. By Country
    1. China
    2. India
    3. Japan
    4. South Korea
    5. Rest of Asia Pacific
Latin America 5G Service Market
1. Market Size & Forecast by Value, 2018-2028
  1. By Value (USD Million)
2. Market Share & Forecast
  1. By End-User
  2. By Communication Type
  3. By Application
  4. By Country
    1. Brazil
    2. Mexico
    3. Rest of Latin America
The Middle East & Africa 5G Service Market
1. Market Size & Forecast by Value, 2018-2028
  1. By Value (USD Million)
2. Market Share & Forecast
3. By End-User
4. By Communication Type
5. By Application
  1. By Country
    1. Saudi Arabia
    2. UAE
    3. South Africa
    4. Rest of Middle East & Africa
Competitive Landscape
1. List of Key Players and Their Offerings
2. Market Share Analysis, 2021
3. Competitive Benchmarking, By Operating Parameters
4. Key Strategic Development (Merger, Acquisition, Partnership)
Impact of Covid-19 on Global 5G Service Market Industry
Company Profile (Company Overview, Financial Matrix, Competitive landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook) **
1. AT&T
2. China Mobile
3. SK Telecom
4. Verizon
5. BT Group
6. Telekom
7. T-Mobile
8. China Telecom
9. Orange S.A
10. Vodafone
11. China Unicom
12. Telstra
13. KT
14. Rogers
15. Bell Canada
16. Etisalat
17. STC
18. LG U+
19. NTT Docomo
20. Nokia Corporation
21. Other prominent players
Key Strategic Recommendations

*Financial information in case of non-listed companies is provided as per availability

**The segmentation and the companies are subjected to modifications based on in-depth secondary for the final deliverable

List of Figures

Figure 1 Global 5G Service Segmentation

Figure 2 Global 5G Service Market Value Chain Analysis

Figure 3 Company Market Share Analysis, 2021

Figure 4 Global 5G Service Market Size, By Value (USD Million), 2018-2028

Figure 5 Global 5G Service Market Share, By End-User, By Value, 2018-2028

Figure 6 Global 5G Service Market Share, By Application, By Value, 2018-2028

Figure 7 Global 5G Service Market Share, By Communication Type, By Value, 2018-2028

Figure 8 Global 5G Service Market Share, By Region, By Value, 2018-2028

Figure 9 North America 5G Service Market Size, By Value (USD Million), 2018-2028

Figure 10 North America 5G Service Market Share, By End-User, By Value, 2018-2028

Figure 11 North America 5G Service Market Share, By Application, By Value, 2018-2028

Figure 12 North America 5G Service Market Share, By Communication Type, By Value, 2018-2028

Figure 13 North America 5G Service Market Share, By Country, By Value, 2018-2028

Figure 14 Europe 5G Service Market Size, By Value (USD Million), 2018-2028

Figure 15 Europe 5G Service Market Share, By End-User, By Value, 2018-2028

Figure 16 Europe 5G Service Market Share, By Application, By Value, 2018-2028

Figure 17 Europe 5G Service Market Share, By Communication Type, By Value, 2018-2028

Figure 18 Europe 5G Service Market Share, By Country, By Value, 2018-2028

Figure 19 The Asia-Pacific 5G Service Market Size, By Value (USD Million), 2018-2028

Figure 20 The Asia-Pacific 5G Service Market Share, By End-User, By Value, 2018-2028

Figure 21 The Asia-Pacific 5G Service Market Share, By Application, By Value, 2018-2028

Figure 22 The Asia-Pacific 5G Service Market Share, By Communication Type, By Value, 2018-2028

Figure 23 The Asia-Pacific 5G Service Market Share, By Country, By Value, 2018-2028

Figure 24 Latin America 5G Service Market Size, By Value (USD Million), 2018-2028

Figure 25 Latin America 5G Service Market Share, By End-User, By Value, 2018-2028

Figure 26 Latin America 5G Service Market Share, By Application, By Value, 2018-2028

Figure 27 Latin America 5G Service Market Share, By Communication Type, By Value, 2018-2028

Figure 28 Latin America 5G Service Market Share, By Country, By Value, 2018-2028

Figure 29 The Middle East & Africa 5G Service Market Size, By Value (USD Million), 2018-2028

Figure 30 The Middle East & Africa 5G Service Market Share, By End-User, By Value, 2018-2028

Figure 31 The Middle East & Africa 5G Service Market Share, By Application, By Value, 2018-2028

Figure 32 The Middle East & Africa 5G Service Market Share, By Communication Type, By Value, 2018-2028

Figure 33 The Middle East & Africa 5G Service Market Share, By Country, By Value, 2018-2028

List of Tables

Table 1 Global 5G Service Market Size, By End-User, By Value, 2018-2028

Table 2 Global 5G Service Market Size, By Application, By Value, 2018-2028

Table 3 Global 5G Service Market Size, By Communication Type, By Value, 2018-2028

Table 4 Global 5G Service Market Size, By Region, By Value, 2018-2028

Table 5 North America 5G Service Market Size, By End-User, By Value, 2018-2028

Table 6 North America 5G Service Market Size, By Application, By Value, 2018-2028

Table 7 North America 5G Service Market Size, By Communication Type, By Value, 2018-2028

Table 8 North America 5G Service Market Size, By Country, By Value, 2018-2028

Table 9 Europe 5G Service Market Size, By End-User, By Value, 2018-2028

Table 10 Europe 5G Service Market Size, By Application, By Value, 2018-2028

Table 11 Europe 5G Service Market Size, By Communication Type, By Value, 2018-2028

Table 12 Europe 5G Service Market Size, By Country, By Value, 2018-2028

Table 13 The Asia-Pacific 5G Service Market Size, By End-User, By Value, 2018-2028

Table 14 The Asia-Pacific 5G Service Market Size, By Application, By Value, 2018-2028

Table 15 The Asia-Pacific 5G Service Market Size, By Communication Type, By Value, 2018-2028

Table 16 The Asia-Pacific 5G Service Market Size, By Country, By Value, 2018-2028

Table 17 Latin America 5G Service Market Size, By End-User, By Value, 2018-2028

Table 18 Latin America 5G Service Market Size, By Application, By Value, 2018-2028

Table 19 Latin America 5G Service Market Size, By Communication Type, By Value, 2018-2028

Table 20 Latin America 5G Service Market Size, By Country, By Value, 2018-2028

Table 21 The Middle East & Africa 5G Service Market Size, By End-User, By Value, 2018-2028

Table 22 The Middle East & Africa 5G Service Market Size, By Application, By Value, 2018-2028

Table 23 The Middle East & Africa 5G Service Market Size, By Communication Type, By Value, 2018-2028

Table 24 The Middle East & Africa 5G Service Market Size, By Country, By Value, 2018-2028

Table 25 AT&T Company Overview

Table 26 AT&T Financial Overview

Table 27 China Mobile Company Overview

Table 28 China Mobile Financial Overview

Table 29 Verizon Company Overview

Table 30 Verizon Financial Overview

Table 31 BT Group Company Overview

Table 32 BT Group Financial Overview

Table 33 T-Mobile Company Overview

Table 34 T-Mobile Financial Overview

Table 35 Orange S.A Company Overview

Table 36 Orange S.A Financial Overview

Table 37 Vodafone Company Overview

Table 38 Vodafone Financial Overview

Table 39 China Unicom Company Overview

Table 40 China Unicom Financial Overview

Table 41 Telstra Company Overview

Table 42 Telstra Financial Overview

Table 43 KT Company Overview

Table 44 KT Financial Overview

Table 45 Rogers Company Overview

Table 46 Rogers Financial Overview

Table 47 Bell Canada Company Overview

Table 48 Bell Canada Financial Overview

Table 49 Etisalat Company Overview

Table 50 Etisalat Financial Overview

Table 51 STC Company Overview

Table 52 STC Financial Overview

Table 53 LG U+ Company Overview

Table 54 LG U+ Financial Overview

Table 55 NTT Docomo Company Overview

Table 56 NTT Docomo Financial Overview

Table 57 Telekom Company Overview

Table 58 Telekom Financial Overview

Table 59 China Telecom Company Overview

Table 60 China Telecom Financial Overview

Table 61 Nokia Corporation Company Overview

Table 62 Nokia Corporation Financial Overview

Market Segmentation

By Communication Type

Fixed Wireless Access (FWA)
Enhanced Mobile Broadband (eMMB)
Massive Machine-Type Communications (MMTC)
Ultra-Reliable Low-Latency (URLLC)

By Application

Smart Cities
Connected Factories
Smart Buildings
Connected Vehicles
Connected Healthcare
Connected Retail
Smart Utilities
Others

By End User

Consumers
Enterprises

Manufacturing
Media and Entertainment
Government
Energy and Utilities
Transportation and Logistics
Healthcare
Others

By Region

North America
Europe
Asia-Pacific (APAC)
Latin America (LATAM)
Middle East & Africa (MEA)

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Frequently Asked Questions (FAQs):

1. What is the current size of the 5G services market?

Ans: The 5G services market reached USD 46.5 billion in 2021.

2. What are the major factors driving the growth of the 5G services market?

Ans: The major factors driving the growth of the 5G services market are; rising adoption of in healthcare industry and government investment in 5G infrastructure.

3. Who are the key players in the 5G services market?

Ans: The key players in the 5G services market are: AT&T, Nokia Corporation, China Mobile, SK Telecom, Verizon, BT Group, Telekom, T-Mobile, China Telecom, Orange S.A, Vodafone, China Unicom, Telstra, KT, Rogers, Bell Canada, Etisalat, STC, LG U+, NTT Docomo, and other prominent players.

4. Which end-user segment accounted for the largest share in the 5G services market?

Ans: The enterprises segment accounted for the largest share in the 5G services market.

5. Which region is at the highest growth rate in the 5G services market?

Ans: Asia-Pacific has the largest share in the 5G services market.

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