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5G Services Market Size Is Estimated To Reach USD 164.8 Billion By 2025: Grand View Research Inc.

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5G Services Market Size Is Estimated To Reach USD 164.8 Billion By 2025: Grand View Research Inc.

February 19
10:23 2020
5G Services Market Size Is Estimated To Reach USD 164.8 Billion By 2025: Grand View Research Inc.

Grand View Research, Inc. – Market Research And Consulting.
According to report published by Grand View Research, The global 5G services market size is estimated to reach USD 45.7 billion by 2020 and register a CAGR of 32.1% from 2021 to 2025.

The global 5G services market size is estimated to reach USD 164.8 billion by 2025, registering a CAGR of 32.1% from 2021 to 2025, according to a new study by Grand View Research, Inc. The rapidly rising demand for ultra-reliable and low-latency data networks capable of providing enhanced mobile connectivity is estimated to boost the market growth over the forecast period. The potential adoption of 5G services for remote patients monitoring and remote surgery applications is also anticipated to propel the market growth from 2021 to 2025.

The 5G wireless technology is expected to completely transform the transportation & logistics industry by providing seamless vehicle-to-vehicle (V2V) and vehicle-to-infrastructure (V2I) connectivity. As such, the need to ensure a strong, seamless, and uninterrupted connectivity with autonomous vehicles is estimated to drive the adoption of 5G services. At the same time, the continued deployment of 5G network infrastructure is estimated to improve the operational efficiencies in several IoT use cases, including developing smart homes, establishing smart cities, and implementing Industry 4.0, among others. Hence, the rising need for higher bandwidth to ensure reliable and seamless communication between IoT devices is expected to propel the market growth over the forecast period.

In some countries, such as the U.S., China, and Japan, the trend of monitoring energy systems of buildings remotely is gradually rising. This is expected to open new opportunities for rolling out 5G services over the forecast period. As such, the growing need for remote asset monitoring, drone control and coordination, and smart grid control is anticipated to drive the growth of the ultra-reliable and low-latency communications (uRLLC) segment over the forecast period.

Key market players such as AT&T Inc., China Telecommunications Corporation, and Verizon Communications, among others, are investing aggressively in rolling out 5G infrastructure to provide low-latency services for faster machine-to-machine (M2M) communication. However, these market players are expected to deliberate before making investments owing to the high 5G spectrum prices. Stringent governments regulations and policies pertaining to the 5G wireless technology are also expected to hinder the market growth.

U.S. 5G services market size, by vertical, 2020 - 2025 (USD Billion)

Request a sample Copy of the 5G Services Market Research Report @ https://www.grandviewresearch.com/industry-analysis/5g-services-market/request/rs1

Key Takeaways Of The Report :

  • U.S. is anticipated to reach USD 73.1 billion by 2025, exhibiting a CAGR of 35.9% from 2021 to 2025, owing to the rising demand for higher data speeds for several end-use applications, including M2M communications, energy & utility management, and smart mobility management

  • The enhanced mobile broadband (eMBB) segment is anticipated to gain the largest market share by 2025 owing to the key market players’ emphasis on rolling out high-speed and low-latency data networks for residential and commercial applications, such as video conferencing, virtual meeting, and VR/AR gaming

  • The manufacturing segment is expected to register a CAGR of 36.0% over the forecast period owing to the rapidly increasing need for seamless connectivity to drive industrial devices, including robots, and actuators, among others

  • Market incumbents are focusing on mergers and acquisitions for delivering 5G services in order to strengthen their market presence and expand their product portfolios

  • Key players in the 5G services market include AT&T Inc.; BT Group plc; China Mobile Ltd.; China Telecom Corporation Limited; Bharti Airtel Limited; KT Corporation; Saudi Telecom Company; Vodafone Limited; Deutsche Telekom Group; SK Telecom Co., Ltd.; and Verizon Communications Inc.; among others.

Global 5G services market share, by communication type, 2020 (%)

Have Any Query? Ask Our Experts @ https://www.grandviewresearch.com/inquiry/5827/ibb

Grand View Research has segmented the global 5G services market on the basis of communication type, vertical, and region:

5G Services Communication Type Outlook (Revenue, USD Billion, 2020 – 2025)

  • Fixed Wireless Access (FWA)

  • Enhanced Mobile Broadband (eMBB)

  • Ultra-Reliable and Low Latency Communications (uRLLC)

  • Massive Machine-Type Communications (mMTC)

5G Services Vertical Outlook (Revenue, USD Billion, 2020 – 2025)

  • Manufacturing

  • Energy & Utilities

  • Media & Entertainment

  • IT & Telecom

  • Transportation & Logistics

  • Healthcare

  • Others

5G Services Regional Outlook (Revenue, USD Billion, 2020 – 2025)

  • 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)

Browse Related Report:

LiDAR Services Market : https://www.grandviewresearch.com/industry-analysis/lidar-services-market

About Grand View Research

Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.

 

Media Contact
Company Name: Grand View Research, Inc.
Contact Person: Sherry James, Corporate Sales Specialist – U.S.A.
Email: Send Email
Phone: 1-415-349-0058, Toll Free: 1-888-202-9519
Address:201, Spear Street, 1100
City: San Francisco
State: California
Country: United States
Website: https://www.grandviewresearch.com/industry-analysis/5g-services-market

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