According
to new market research report on "5G Services Market by Vertical (Smart Cities, Connected Vehicles,
Connected Factories, Smart Buildings, Smart Utilities, Connected Healthcare,
and Broadband Services), Application (eMBB, MMTC and URLLC, and FWA), and
Region - Global Forecast to 2025", The 5G services market is expected to grow from USD 53.93
billion in 2020 to USD 123.27 billion by 2025, at a Compound Annual Growth Rate
(CAGR) of 18% during the forecast period.
The
rising demand for reliable and ultra-low latency connectivity services and
growing trends in machine to machine communication are expected factors to have
enabled the 5G services market to witness tremendous adoption.
Browse and
in-depth TOC on “5G
Services Market”
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The connected vehicles vertical grow at the fastest growth rate during the forecast period
The
connected vehicles vertical is expected to grow at the highest CAGR during the
forecast period, owing to the advent of autonomous vehicles. Autonomous
vehicles are still in the Research and Development (R&D) phase; however,
they would be available for use in the near future. The telecom and automotive
players formed a 5G Automotive Association to develop, test, and promote
communication solutions. The objective of the 5G Automotive Association is to
implement 5G connectivity for the next generation connected cars.
The Fixed Wireless Access (FWA) segment to grow at the highest
CAGR during the forecast period
The FWA
segment is expected to grow at the highest CAGR during the forecast period.
Owing to its remote area coverage and high-speed latent free service offerings,
followed by reduced last mile connectivity expenditure, the application would
be deployed by a large number of commercial as well as consumer users.
North
America to have the largest market share duringthe forecast period
North
America is expected to hold the largest market share in the 5G services market.
Telcos in the US have announced to roll-out 5G services much earlier as
compared to that of other countries in a large number of states. Due to the
rising adoption of new technologies, such as IoT and smart cities, and
increasing need for high-speed internet connectivity, telecom service providers
have started trials and tests for 5G services.
The key
players in the 5G services market include AT&T (US), Airtel (India), BT
Group (UK), China Mobile (China), China Telecom (China),Deutsche Telecom
(Germany), du (UAE), Korea Telecom (Korea), Sprint (US), Saudi Telecom Company
(Saudi Arabia), SK Telecom (South Korea), Telstra (Australia), Vodafone (UK),
and Verizon (US).
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Content Source: https://www.marketsandmarkets.com/PressReleases/5g-services.asp
Report: https://www.marketsandmarkets.com/Market-Reports/5g-services-market-226908556.html
Mr. Sanjay Gupta
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
sales@marketsandmarkets.com
Content Source: https://www.marketsandmarkets.com/PressReleases/5g-services.asp
Report: https://www.marketsandmarkets.com/Market-Reports/5g-services-market-226908556.html
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