5G Applications and Services Market is segmented By Communication Type (Enhanced Mobile Broadband, Ultra-Reliable Low Latency Communications, Massive Machine-Type Communications, Fixed Wireless Access, and Others), By End-User (Residential, Commercial, and Industrial), and By Industry Vertical (Telecommunications, Automotive, Government, Media and Entertainment, Consumer Electronics, Banking, Energy and Utilities, and Others) and Region (United States, Canada, Mexico, South America, France, Germany, Italy, Spain, United Kingdom, Russia, China, India, Philippines, Malaysia, Australia, Austria, South Korea, Middle East, Japan, South Africa, Rest of World)
5G Applications and Services Market size was estimated at $132,840 million in 2020 and is expected to reach $663,960 million by 2028, growing at a CAGR of 25.8% during the forecast period of 2021 to 2028.
5G Applications and Services Market
The term 5G, or fifth generation, refers to the next generation of mobile networks, which is more sophisticated than the LTE network. Additionally, the introduction of these new technologies will aid in the acceleration of the wireless network. According to the International Telecommunications Union reports, the 5G network would have a data throughput of 20 GB/second for downlinking and 10 GB/second for behaviours and experiences.
By offering a diverse set of use cases and marketing strategies to users, 5G wireless mobile services allow a fully networked environment. Additionally, the faster data speeds and extremely low latency provided by 5G technology would improve the user experience when utilizing 5G services for a variety of use cases, including virtual reality (VR) and augmented reality (AR) gaming, seamless video conferencing, and Ultra-High Definition (UHD) videos. The 5G applications markets future use cases are many and diverse in terms of kind, industry vertical focus, and needs. As a result, each scenarios network setup will be unique in terms of requirements and characteristics.
The COVID-19 epidemic has impacted individuals and companies. Throughout the COVID-19 epidemic, the telecom industry has been critical in supporting nations digital infrastructures. At all levels of government, federal, state, central, municipal, and provincial, individuals and governments have been in continual communication with one another to offer and receive real-time information about COVID-19. At the moment, healthcare, telecommunications, media and advertising, utilities, and government agencies are working around the clock to stabilize the situation and provide necessary services to each person.
5G Applications and Services Market Growth and Trend
5G technology, the next generation, is rapidly being employed in public transit applications. These technologies enable public transport systems, such as buses and high-speed railways, to deliver high-speed Internet in public transportation for entertainment, news, and communication with intelligent mobility components. This is likely to drive the growth of the market. Additionally, the high priority placed on delivering reliable and resilient communication amidst natural disasters like floods, storms, and quakes is expected to accelerate the adoption of 5G services.
Commercialization and operation of 5G will have a significant impact on the ICT sector. Among them will be enormous Internet of Things (IoT) networks, which refer to the capacity to build and operate IoT systems on a gigantic scale. As IoT systems scale up in size, their reach in terms of influence on business systems and daily consumer lives will expand.
IoT solutions would significantly benefit from 5G deployment as cellular operators provide Low Power Wide Area Network (LPWAN) IoT network capabilities. The first IoT LPWAN implementations were non-cellular solutions based on proprietary technology. However, Mind Commerce anticipates that upcoming technologies such as Narrowband IoT (NB-IoT) will lead in several IoT applications.
The market for 5G applications will gain considerably from significantly increased bandwidth for general mobility applications like any time, everywhere access to ultra-high-speed Internet and ultra-high-definition video. Additionally, 5G will enable mission-critical communications with ultra-low latency communications. Thirdly, 5G will improve IoT networks with radiofrequency management that accommodates both narrowband and high-bandwidth IoT applications that may be on-demand.
The category is anticipated to maintain its dominance during the projection period, owing to considerable expenditures by critical companies in cutting-edge communication technology. 5G services are intended to provide ubiquitous internet connectivity between households and workplaces, enabling remote consultations with specialists and reducing business travel. During the forecast period, the growth of the segments is fueled by the rising need for improved internet bandwidth for virtual business meetings.
Manufacturing has been quickly digitizing. As a result, production lines are continually automated to increase overall productivity. This has necessitated developing a wireless communication infrastructure that connects robots, sensors, motors, and other equipment deployed in production plants. Additionally, critical sectors such as healthcare are likely to experience significant uptake of the services to improve telemedicine and healthcare emergency responders during and after a pandemic.
5G Applications and Services Market Segmentation
The 5G applications and services market is segmented by communication type, end-user, and industry vertical. Based on communication type, the market consists of enhanced mobile broadband, ultra-reliable low latency communications, massive machine type communications, fixed wireless access, and others. Based on end-user, the market is segmented into residential, commercial, and industrial. Based on industry vertical, the market is divided into telecommunications, automotive, government, media and entertainment, consumer electronics, banking, energy and utilities, and others.
5G Applications and Services Market Country Analysis
The regional market is expected to expand during the forecast period, owing to an increase in financing for innovative city initiatives in India and China. In the Asia Pacific, the 5G applications and services market is expected to grow faster. The area is undergoing rapid transformation as a result of the implementation of new technologies across several industries. The rapid development of infrastructure in APAC, particularly in Japan, South Korea, Australia, Singapore, China, and India, along with the rising deployment of 4G and 5G networks, creates enormous potential for implementing 5G services. Due to the regions sizeable mobile subscriber base, businesses are becoming more competitive and concentrating on customer service.
5G Applications and Services Market Share and Competition
The major players operating in the global 5G applications and services market are Airtel India, AT&T Intellectual Property, China Mobile Limited, Cisco, Deutsche Telekom AG, EITC, Intel Corporation, KT Corp., Nokia, NTT Docomo, Samsung, Ericsson, Telefónica S.A., Telstra Wholesale, Verizon Wireless, and Vodafone Limited.
• Historical data available (as per request)
• Estimation/projections/forecast for revenue and unit sales (2021 – 2028)
• Data breakdown for every market segment (2021 – 2028)
• Gross margin and profitability analysis of companies
• Price analysis of each product type
• Business trend and expansion analysis
• Import and export analysis
• Competition analysis/market share
• Supply chain analysis
• Client list and case studies
• Market entry strategy
Industry Segmentation and Revenue Breakdown
Communication Type Analysis (Revenue, USD Million, 2021 - 2028)
• Enhanced Mobile Broadband
• Ultra-Reliable Low Latency Communications
• Massive Machine Type Communications
• Fixed Wireless Access
End-User Analysis (Revenue, USD Million, 2021 - 2028)
Industry Vertical Analysis (Revenue, USD Million, 2021 - 2028)
• Media and Entertainment
• Consumer Electronics
• Energy and Utilities
Region Analysis (Revenue, USD Million, 2021 – 2028)
• North America
o United States
• South America
o United Kingdom
• Asia Pacific
o South Korea
• Middle East
o GCC Countries
o South Korea
• South Africa
• Rest of World
5G Applications and Services Market Companies
• Airtel India
• AT&T Intellectual Property
• China Mobile Limited
• Deutsche Telekom AG
• Intel Corporation
• KT Corp.
• NTT Docomo
• Telefónica S.A.
• Telstra Wholesale
• Verizon Wireless
• Vodafone Limited.
• United States 5G Applications and Services Industry Research Report
• Europe 5G Applications and Services Industry Research Report
• Asia Pacific 5G Applications and Services Industry Research Report
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