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Players CoveredSK Telecom, Samsung Electronics Co. Ltd., LG Electronics Inc., Cisco Systems Inc., Verizon Communications Inc., Qualcomm Inc., Saudi Telecom Company, Telefonaktiebolaget L. M. Ericsson, Intel Corporation, China Mobile, BT Group, Nokia Corporation, Huawei Investment & Holding Co. Ltd., T-Mobile USA Inc., NEC Corporation, Telstra, DU, China Telecom, Vodafone Group, KT Corporation, Deutsche Telekom, Airtel, Sprint, and AT&T Inc.
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Market Snapshots
The fifth generation of cellular mobile communications, 5G promises to succeed 4G in terms of speed and use cases including extreme high bandwidth, high-density connection, and ultra-low latency. Currently, the global 5G service market is contemplated to be worth USD 21.53 Bn and is envisioned to reach approximately USD 85.84 Bn by the end of 2023. Market Research Future (MRFR) projects the global 5G service market to expand exponentially with a CAGR of 31.9% over the forecast period which ends in 2023.
One notable feature that sets apart 5G from its predecessor is its low communication latency. Surging demand for reliable and ultra-latent connectivity services is fostering the growth of the market. Exceptionally high data speed will not only provide rich user experience but would also revolutionize business models.
Various megatrends of mobile services are also affecting the global 5G service market. Rapid developments in IoT (Internet of Things) is also expected to fuel the market for 5g service. Disconnected systems are what hampers IoT applications, and 5G connection with extremely high bandwidth is what IoT requires for seamless performance. It would help in the deployment of more number of connected devices without the issues of latency. Growing number of connected devices would consequently propel the demand for 5G services.
Initiatives in multiple countries towards the development of smart cities are expected to bring about the implementation capabilities of 5G network to the forefront. 5G has the ability to alleviate the limitations of connections, speed which stand as hurdles in the deployment of smart cities.
The shift in consumer preference from premise-based to cloud-based solutions is expected to have significant implications for the growth of the global 5G service market. Advantages of 5G such as the obvious consistent network connectivity experience and improved wireless range would alleviate the obstacles of cloud deployment which would further create a conducive environment for the growth of the 5g service market.
On the contrary, high costs associated with eh deployment of 5G network and concerns regarding the global spectrum are likely to impede the growth of the market.
Report Overview
This MRFR Report presents a complete analysis of ten global 5G Service Market for a more profound understanding of the market. The report comprehensively segments the market by service type, communication type, technology, and vertical which assists stakeholders in gaining more insights into the market. Country-level analysis of each segment is also covered in the report. Detailed information about the key players operating in the market along with the strategies adopted by them is also presented which promotes a better understanding of the competitive landscape.
Segmentation
By Service Type
Professional Services
o System Integration
o Network Planning and Optimization
o Network Implementation
o Others
Managed Services
Professional Services
Managed Services
By Communication Type
Extreme Mobile Broadband (EMBb)
Massive Machine-Type Communications (mMTC)
Ultra-Reliable Machine-Type Communications (uMTC)
Fixed Wireless Access (FWA)
By Technology
Wi-Fi, High-Speed Package Access (HSPA)
Radio Access Technologies (RAT)
Global System for Mobile (GSM)
Worldwide Interoperability for Microwave Access (WiMAX)
By Vertical
Energy and Utilities
Automotive
Healthcare
IT & Telecommunication
Consumer Electronics
Industrial
Retail
Others
By Region
North America
Europe
Asia-Pacific
Rest of the World (the Middle East & Africa, Latin America)
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Research Methodology
MRFR's reports are compiled using a blend of both primary and secondary research data which presents a comprehensive view of the market. Primary data consists of information collected from key -level industry insiders while secondary data is gathered from data available on public domain such as white papers, journals, annual reports, and data available on government websites. For the estimation of market size and segmentation, both the top-down and bottom-up approaches are leveraged.
Regional Analysis
North America, Asia Pacific, Europe, and the Rest of the World (RoW) are the key markets for 5G service.
North America is projected to be the largest market for 5G service, led by the economies of the US, Canada, and Mexico. The region has been an early adapter of the 5G service network, and various telecom companies in the region have already announced their plans to roll out 5G service much ahead of operators in other regions. Moreover, the region is swift in the uptake of the latest technologies such as IoT and smart cities which would require high-speed network performance.
Europe too is projected to remain a significant market for 5G service, and its growth can be attributed to rigorous R&D activities in the region. A considerable number of ongoing customer trials in countries such as the UK, Germany, and France are also expected to contribute to market growth positively.
Asia Pacific is slated to be the fastest growing market for 5G service over the forecast period. Increasing focus on improving connectivity coupled with high investment in R&D activities are expected to catalyze the growth of the 5G service market in Asia Pacific.
The Rest of the World market is also anticipated to exhibit positive growth trend over the forecast period.
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TABLE OF CONTENT
1 Executive Summary
2 Market Introduction
2.1 Definition
2.2 Scope Of The Study
2.3 List Of Assumptions
2.4 Market Structure
3 Market Insights
4 Research Methodology
4.1 Research Process
4.2 Primary Research
4.3 Secondary Research
4.4 Market Size Estimation
4.5 Forecast Model
5 Market Dynamics
Continued ..
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by Components, Application, Logistics and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members
Contact Info:
Name: Market Research Future
Email: Send Email
Organization: Market Research Future
Website: https://www.marketresearchfuture.com/reports/5g-service-market-6664
Release ID: 487393
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