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5G Services Market Accelerates as Telecom Providers Offer High-Speed Internet and Connectivity for Mobile Devices and IoT

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5G Services Market Report Scope and Overview

The SNS Insider report paints a promising picture for the 5G Services Market, estimating a value of USD 85.1 Billion in 2023, with a projected exponential rise to USD 3511.35 Billion by 2031. This translates to a staggering Compound Annual Growth Rate (CAGR) of 59.2% over the forecast period.

The market growth is fueled by several factors. FWA is witnessing tremendous growth, with an increasing number of mobile service providers offering FWA services, particularly over 5G networks. According to the Ericsson Mobility Report 2023, a staggering 40% of FWA service providers globally now leverage 5G for their offerings. The convenience and affordability of FWA, coupled with the growing demand for speed-based tariff plans for fixed broadband services, are driving significant market expansion.

Leading the charge is Japan, where all major service providers now offer 5G FWA, including standalone 5G (SA) support and innovative solutions like battery-powered pocket routers. Additionally, a pioneering Norwegian service provider has replaced its entire copper DSL network with FWA services, catering to over 51,000 customers. This shift foreshadows a future where FWA becomes the preferred solution for fixed broadband connectivity.

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Major Key Players Studied in this Report are:

  • AT&T
  • Bharti Airtel Limited
  • BT Group
  • China Mobile
  • China Telecom Corporation Limited
  • Deutsche Telekom AG
  • KT Corporation
  • NTT Docomo
  • Reliance Jio
  • SK Telecom
  • Others

5G Services Market Report

Segmentation Analysis

When it comes to application, the industry 4.0 segment is expected to dominate the market, holding a commanding share exceeding 30%. The rise of 5G technology is instrumental in the development of smart cities, which rely heavily on Internet of Things (IoT) devices to manage modern urban infrastructure. Smart city projects utilize vast networks of IoT devices to gather real-time data for analysis and monitoring, ultimately improving city management processes.

This ensures that data from various IoT sensors, like those in traffic lights, environmental monitors, and surveillance cameras, can be processed instantaneously. This real-time data allows for optimized traffic management, improved public safety, and efficient resource allocation, transforming cities into dynamic and responsive ecosystems.

Market Segmentation and Sub-Segmentation Included Are:

By Communication type

  • Enhanced Mobile Broadband
  • Massive Machine Type Communication
  • Ultra-Reliable Low-Latency Communications

By Application

  • Smart cities
  • Smart buildings
  • Industry 4.0
  • Autonomous vehicles
  • Smart healthcare
  • Smart utilities
  • Immersive media & gaming
  • Others

By End user

  • Consumers
  • Enterprises
    • Banking, Financial Services, & Insurance (BFSI)
    • Retail & eCommerce
    • Healthcare & Life Sciences
    • Manufacturing
    • Telecom
    • IT & ITeS
    • Media & Entertainment
    • Construction & Real Estate
    • Government & Public Safety
    • Transportation, & Logistics
    • Energy & Utilities
    • Education
    • Others

Impact of the Russia-Ukraine War

The ongoing conflict between Russia and Ukraine has sent ripples throughout the global 5G market, creating a complex scenario with both challenges and opportunities. Leading telecom equipment providers like Ericsson and Nokia have been forced to halt operations in Russia due to imposed sanctions, hindering the progress of 5G infrastructure deployment in the region. The wider economic ramifications of the war, including inflation and decreased consumer spending, could potentially dampen demand for new 5G technologies and services.

There are potential upsides. As Western vendors withdraw from the Russian market, Chinese firms like Huawei have the opportunity to step in and expand their market share, reshaping the competitive landscape. While the combined economies of Russia and Ukraine account for a relatively small portion of global ICT spending (approximately 1%), the larger concern lies in the broader economic repercussions that could potentially decelerate 5G adoption globally.

A potential economic slowdown presents another challenge for the 5G services market. Reduced consumer spending and business investments could lead to a decrease in demand for 5G-enabled devices and services.

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Key Regional Development

The Asia Pacific region is poised to dominate the 5G services market, holding a substantial share exceeding 38%. This dominance can be attributed to several factors. Key companies in the region are making significant investments in 5G infrastructure and supporting technologies. These investments are expected to benefit various industries, including transportation and logistics, media and entertainment, manufacturing, and healthcare.

There a rapid growth in smart city initiatives across Asia Pacific, driven by the desire to improve the quality of life for urban residents. 5G technology plays a pivotal role in this transformation by providing the foundation for a network of interconnected devices. These devices collect real-time data on air quality, traffic flow, and energy usage, enabling intelligent management of resources and infrastructure.

Recent Developments

In June 2023: BT Group Plc joined forces with Lyca Mobile to offer cost-effective mobile connectivity to Lyca customers through a combined 4G and 5G radio access network. This collaboration expands access to high-speed mobile data for a wider customer base.

In April 2023: Deutsche Telekom AG announced a strategic partnership with Amazon Web Services (AWS). This collaboration aims to integrate AWS services with private wireless solutions utilizing LTE and 5G technologies, catering to the growing demand for secure and reliable private network solutions.

Key Takeaways

  • Fixed Wireless Access (FWA) is revolutionizing broadband connectivity, particularly in underserved areas. Its affordability and rapid deployment capabilities are propelling market growth.
  • Backed by significant investments in infrastructure and technology, the Asia Pacific region is at the forefront of 5G adoption. This dominance is expected to continue as the region implements smart city initiatives and leverages 5G for industrial applications.

Despite the aforementioned challenges, the future of the 5G services market remains bright. The ever-increasing demand for high-speed, reliable internet connectivity, coupled with the ongoing development of innovative 5G applications, will continue to propel market growth. The rise of technologies like augmented reality (AR), virtual reality (VR), and cloud gaming will further drive the need for robust 5G infrastructure.

Table of Contents- Major Key Points

  1. Introduction
  2. Research Methodology
  3. Market Dynamics
    • Drivers
    • Restraints
    • Opportunities
    • Challenges
  4. Impact Analysis
    • Impact of Ukraine- Russia war
    • Impact of Ongoing Recession on Major Economies
  5. Value Chain Analysis
  6. Porter’s 5 Forces Model
  7. PEST Analysis
  8. 5G Services Market Segmentation, By Communication Type
    • Introduction
    • Trend Analysis
    • Enhanced Mobile Broadband
    • Massive Machine Type Communication
    • Ultra-Reliable Low-Latency Communications
  9. 5G Services Market Segmentation, By Application
    • Introduction
    • Trend Analysis
    • Smart cities
    • Smart buildings
    • Industry 4.0
    • Autonomous vehicles
    • Smart healthcare
    • Smart utilities
    • Immersive media & gaming
    • Others
  10. 5G Services Market Segmentation, By End user
    • Introduction
    • Trend Analysis
    • Consumers
    • Enterprises
  11. Regional Analysis
    • Introduction
    • North America
    • Europe
    • Asia-Pacific
    • The Middle East & Africa
    • Latin America
  12. Company Profile
  13. Competitive Landscape
    • Competitive Benchmarking
    • Market Share Analysis
    • Recent Developments
  14. USE Cases and Best Practices
  15. Conclusion

About Us

SNS Insider is one of the leading market research and consulting agencies that dominates the market research industry globally. Our company’s aim is to give clients the knowledge they require in order to function in changing circumstances. In order to give you current, accurate market data, consumer insights, and opinions so that you can make decisions with confidence, we employ a variety of techniques, including surveys, video talks, and focus groups around the world.

Our staff is dedicated to giving our clients reliable information, and with expertise working in the majority of industrial sectors, we’re proud to be recognized as one of the world’s top market research firms. We can quickly design and implement pertinent research programs, including surveys and focus groups, and we have the resources and competence to deal with clients in practically any company sector.

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