5G Services Market worth $331.1 billion by 2027 - Exclusive Report by MarketsandMarkets™
CHICAGO, Dec. 1, 2022 /PRNewswire/ -- The global 5G Services Market size is expected to grow from USD 107.0 billion in 2022 to USD 331.1 billion by 2027, at a Compound Annual Growth Rate (CAGR) of 25.3% during the forecast period, according to report by MarketsandMarkets. Due to high availability of 5G compatible devices and high investments of governments in 5G services, the 5G ecosystem is expected to witness a faster growth rate than other connectivity transformations. Other factors such as high number of applications being developed requiring low latency in connection have resulted in high adoption of 5G services in developing economies.
Browse in-depth TOC on "5G Services Market"
145 - Tables
Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=226908556
Healthcare segment to grow at the highest CAGR during the forecast period
5G services will prove to be highly efficient in the healthcare sector by enabling remote patient monitoring, connected ambulance services, HD virtual consultations, video-enabled prescription management etc. The lower latency 5G will enable data and video to be sent in real-time to the hospital/clinicians in emergency situations and this will have significant impact on the healthcare sector and people's lives.
URLLC segment is expected to grow at the highest CAGR during the forecast period
Ultra-reliable low-latency communication (URLLC) use cases such as autonomous systems and mission-critical control are going to gain traction, which increase the speed and quality of services in critical functions. The automotive industry has been an early adopter of various connectivity technologies. There has been a major impetus by car manufacturers to develop connection-ready cars, taking small steps forward within a long-term vision of autonomous vehicle control using URLLC. Service providers may decide to provide focussed offerings end-to-end as the principle B2B services provider. So, for example they may supply services, including high-definition cameras to a car manufacturer that requires 5G and URLLC on a production line.
Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=226908556
Asia Pacific (APAC) region to record the highest growing region in the 5G services market
The countries in APAC have high investments done by the governments in 5G services. The high population of the countries in the region have also resuled in higher number of subscribers for 5G, thereby resulting in a higher Average Revenue Per User (ARPU) for 5G service providers. Countries such as China, South Korea, Australia and Japan have high technological growth. The presence of developed technological infrastructure is also one of the key reasons for the adoption of 5G services across all industry verticals.
The network market in APAC is driven by the growing acceptance of cloud-based solutions, emerging technologies such as the IoT, and big data analytics and mobility.
Speak To Our Analyst: https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=226908556
Key and innovative vendors in 5G Services Market are AT&T (US), China Mobile (China), SK Telecom (South Korea), Verizon (US), BT Group (UK), Deutsche Telekom (Germany), T-Mobile (US), China Telecom (China), Orange S.A (France), Vodafone (UK), China Unicom (China), Telstra (Australia), Telefonica (Spain), KT (South Korea), Rogers (Canada), Bell Canada(Canada), Etisalat( UAE), STC (KSA), LG U+( South Korea), NTT Docomo (Japan), KDDI (Japan), Telus (Canada), Swisscom (Switzerland), DISH (US), Reliance Jio(India), Rakuten (Japan), MTN ( South Africa), Airtel (India), and Telenor Group (Norway)
Browse Adjacent Market: Mobility and Telecom Market Research Reports & Consulting
A2P Messaging Market - Global Forecast 2025
Student Information System Market - Global Forecast 2027
Artificial Intelligence Market - Global Forecast 2027
Smart Hospitality Market - Global Forecast 2027
Supply Chain Management Market - Global Forecast 2027
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
Culture as a Competitive Advantage
Solutions Showcase Session: Redefining Technical Support Efficiency in a World Focused on Automation and AI
How Successful Companies Improve Agent Experience