5G Services Market to be Worth $2,208.2 Billion by 2030: Million Insights

FELTON, Calif., Jan. 11, 2023 /PRNewswire/ -- The global 5G services market size is projected to value at USD 2,208.2 billion by 2030, registering a CAGR of 56.7% from 2022 to 2030. The market is expected to be driven by the increasing need for ultra-reliable and low-latency data networks, which in turn provide improved mobile connection. Furthermore, the market growth is fueled by the potential use of 5G services for applications like remote patient monitoring and remote surgery.

Key Industry Insights & Findings from the report:

• Based on communication type, the enhanced Mobile Broadband (eMBB) segment is projected to emerge as the fastest-growing segment by 2030.
• The consumer segment is estimated to expand at the fastest growth rate by 2030 owing to the rising commercialization of the 5G services across countries, including China, the U.S., Japan, South Korea, and Germany.
• Geographically, Asia Pacific captured the largest revenue share of more than 40% in 2021 which is attributed to the in-flow of investments from regional players such as SK Telecom, China Mobile, China Telecom, and KT Corp.

Read 125 page full market research report for more Insights, "5G Services Market Size, Share & Trends Analysis Report By Communication Type, By Vertical, By Region And Segment Forecasts From 2022 To 2030", published by Million Insights.

5G Services Market Growth & Trends

5G services play a key role in the telecommunications and transportation industries. By enabling seamless Vehicle-to-Vehicle (V2V) and Vehicle-to-Infrastructure (V2I) communication, 5G wireless technology is predicted to totally alter the transportation and logistics sector. The adoption of 5G services is also driven by the need to ensure the seamless and uninterrupted functioning of autonomous vehicles. Additionally, it is predicted that the widespread implementation of 5G network infrastructure will increase operational effectiveness in a number of IoT use cases, such as smart homes, smart cities, and industry 4.0.

Therefore, the total market growth is set to accelerate during the forecast period owing to the increasing demand for high bandwidth to enable dependable connection to IoT devices. The practice of remotely monitoring a building's energy systems is becoming more popular in various nations, including the U.S., China, and Japan. Furthermore, the key market players, including AT&T Inc., Verizon Communications, and China Telecommunications Corp., are investing in 5G services to minimize latency for faster Machine-to-Machine (M2M) communications.

5G Services Market Segmentation

Million Insights has segmented the global 5G services market on the basis of communication type, vertical, and region:

5G Services Market - Communication Type Outlook (Revenue, USD Billion, 2020 - 2030)

• FWA
• eMBB
• uRLLC
• mMTC

5G Services Market - Vertical Outlook (Revenue, USD Million, 2020 - 2030)

• Consumer
• Enterprises
• Manufacturing
• Public Safety
• Healthcare & Social Work
• Media ∓ Entertainment
• Energy & Utility
• IT & Telecom
• Transportation & Logistics
• Aerosapce & Defense
• BFSI
• Government
• Retail
• Mining
• Oil & Gas
• Agriculture
• Construction
• Real Estate

• North America
• U.S.
• Canada
• Europe
• U.K.
• Germany
• France
• Russia
• Italy
• Spain
• Asia Pacific
• China
• India
• Japan
• South Korea
• Latin America
• Brazil
• Mexico
• Middle East & Africa (MEA)

List of Key Players of 5G Services Market

• AT&T, Inc.
• BT Group plc
• China Mobile Ltd.
• China Telecom Corp. Ltd.
• Bharti Airtel Ltd.
• NTT Docomo
• KT Corp.
• Saudi Telecom Company
• Vodafone Group
• Deutsche Telekom AG
• SK Telecom Co., Ltd.
• Verizon Communications, Inc.
• T-Mobile USA Inc.
• Rakuten Mobile Inc.

Check out more latest studies published by Million Insights:

• Carbon Dioxide Market - The global carbon dioxide market size is projected to grow by USD 6.83 billion by 2030. It is considered one of the various greenhouse gases which are responsible for the warm atmosphere required to sustain life on earth. The rising demand for carbon dioxide, especially in the food and beverages, and medical industries for Enhanced Oil Recovery (EOR) is a driving factor for the market expansion during the forecast period.
• Medical Foods Market - The global medical foods market size is anticipated to be worth USD 33.5 billion by 2030 and exhibit a 5.2% CAGR. Factors expected to propel this growth during the forecast period are the prevalence of communicable and non-communicable disorders as well as a rise in the dietary management of these diseases. Medical foods provide nutritional benefits as a part of dietary management to overcome diseases which is intended to boost the demand for medical foods.
• Plastic Market - The global plastic market is poised to total USD 593.00 billion in 2021 and is anticipated to exhibit growth at a CAGR of 3.7% from 2022 to 2030. The growth of the market is attributed to the rising use of plastics in the automotive, construction, and electrical & electronics industries. The need to make product lightweight to increase the efficiency of vehicles and to reduce carbon emissions is extending the demand for plastics instead of aluminum and steel for manufacturing automotive parts.
• Preclinical CRO Market - The global preclinical CRO market size was valued at USD 4.87 billion in 2021 and is projected to reach USD 9.67 billion by 2030, expanding at a CAGR of 7.9%. The growth in outsourcing opportunities for preclinical CRO services, in addition to early research activities during the drug discovery process, are two major factors primarily determining the market preclinical CRO market growth. The market is also predicted to witness profitable growth in the forthcoming years.
• Hand Sanitizer Market - The global hand sanitizer market size is expected to reach USD 10.84 billion by 2030, progressing steadily at a CAGR of 6.8% from 2022 to 2030. Although hand sanitizers have been around for a significant period and have been used extensively, it is during the past two years, during the coronavirus pandemic, that their usefulness has been highlighted in maintaining hygiene. In this period, this product has become an essential commodity that is carried by individuals wherever they go. The COVID-19 outbreak can thus be regarded as a significant factor pushing the growth of the market across the world, with sales skyrocketing during its early phase.

Explore more Market Research Reports by Million Insights, for industry specific reports that provide real-time market trends and forecasts, by condensing the integral elements from our industry reports into bite-sized paragraphs, charts, and tables.

Access More Press Releases

About Million Insights:

Million Insights, is a market research and consulting company, provides syndicated as well as customized research reports and consulting services. We have a comprehensive marketplace, that will enable you to compare data points, before you make a purchase. Enabling informed buying, is our motto and we strive hard to ensure that our clients get to browse through multiple samples, prior to an investment. Service flexibility & the fastest response time are two pillars, on which our business model is founded. Our market research report store includes in-depth reports, from across various industry verticals, such as healthcare, technology, chemicals, food & beverages, consumer goods, material science & automotive.

Contact:
Ryan Manuel
Research Support Specialist, USA
Million Insights
Phone: 1-408-610-2300
Toll Free: 1-866-831-4085
Email: [email protected]
Web: https://www.millioninsights.com/
Follow Us: LinkedIn | Twitter

View original content:https://www.prnewswire.co.uk/news-releases/5g-services-market-to-be-worth-2-208-2-billion-by-2030-million-insights-301718841.html

[ Back To TMCnet.com's Homepage ]