5G Services Market by Communication Type (Enhanced Mobile Broadband, Massive Machine-Type Communications, Ultra-Reliable Low Latency Communications), Application (Connected Factories, Connected Healthcare, Connected Vehicles), End-User - Global Forecast 2

5G Services Market by Communication Type (Enhanced Mobile Broadband, Massive Machine-Type Communications, Ultra-Reliable Low Latency Communications), Application (Connected Factories, Connected Healthcare, Connected Vehicles), End-User - Global Forecast 2024-2030

The 5G Services Market size was estimated at USD 16.90 billion in 2023 and expected to reach USD 20.61 billion in 2024, at a CAGR 22.01% to reach USD 68.06 billion by 2030.

The 5G services refer to the suite of telecommunications services and solutions that leverage 5G technology to provide ultra-high-speed internet connectivity, low latency, and reliable network performance to consumers and businesses. This 5G services market encompasses a broad range of services, including enhanced mobile broadband (eMBB), ultra-reliable low latency communications (URLLC), massive machine type communications (mMTC), and network slicing tailored to specific industry applications and user experiences. Increased data traffic volume due to rising video streaming, gaming, and real-time interactions create a demand for high-speed internet and data services. Growing focus on upgrading industrial IoT and industry 4.0 with 5G services and government initiatives in promoting 5G adoption contribute to the expansion of the market. The scarcity and cost of acquiring suitable spectrum bands for 5G deployment, technological challenges, and data & security concerns hamper the adoption of 5G networks and services. In addition, the rapid penetration of blockchain and big data analytics in 5G services are expected to contribute to the expansion of the market. Moreover, strategic partnerships with service providers to implement the 5G network are anticipated to create opportunities in the market.

Regional Insights

The robust investment and regulatory support in North America is driving rapid 5G proliferation, with consumer demand fueled by the prospects of enhanced mobile broadband and advanced IoT applications. Latin America displays a burgeoning interest with notable developments in key markets; however, it faces headwinds due to economic and infrastructural restraints. The Asia-Pacific region is experiencing brisk adoption, spearheaded by major technological contributors such as South Korea and China, with countries such as India promising significant market opportunities due to their growing, high technology adoption rates, considerable government backing, and extensive 5G trials and commercial launches. European countries have been organized in their approach to 5G, focusing on ensuring standardization and security considerations. High consumer expectations for connectivity and the push for Industry 4.0 drive 5G demand in Europe. The Middle East showcases ambitious 5G advancements driven by state investment and diversification strategies, whereas Africa presents untapped potential hindered by infrastructural needs. The global demand for 5G is on an upward trajectory, signifying a robust future for service providers and telecom operators.

Market Insights

Market Dynamics

The market dynamics represent an ever-changing landscape of the 5G Services Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.

Market Drivers

• Increase in the data traffic volume owing to rising video streaming, gaming, and real-time interactions
• Focus on upgrading industrial IoT and industry 4.0 with 5G services
• Government initiatives in promoting 5G adoption

Market Restraints

• Scarcity and cost of acquiring suitable spectrum bands for 5G deployment

Market Opportunities

• Rapid penetration of blockchain and big data analytics in 5G services
• Strategic partnership with service providers to implement the 5G network across end users

Market Challenges

• Technological challenges and data & security concerns

Market Segmentation Analysis

• Communication Type: Growing demand for mMTC to prioritize connectivity and power efficiency
• Usage: Rising use of 5G services in the enterprise to scale up or down based on their demand
• Application: Significant utilization of 5G services in the smart buildings building automation and intelligent management systems
• End-user: Extensive application of 5G services for secure and instantaneous communication for mission-critical applications

Market Disruption Analysis

• Porter’s Five Forces Analysis
• Value Chain & Critical Path Analysis
• Pricing Analysis
• Technology Analysis
• Patent Analysis
• Trade Analysis
• Regulatory Framework Analysis

FPNV Positioning Matrix

The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the 5G Services Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the 5G Services Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Recent Developments

Deutsche Telekom Global Carrier and Titan.ium Partner to Deliver 5G Connectivity Across Continents

Deutsche Telekom AG and Titan.ium have deployed a cutting-edge 5G and cloud-native platform as part of a strategic initiative to enhance global 5G Standalone (SA) roaming services. This innovation follows an extensive trial phase ensuring robust security through the 3GPP Security Edge Protection Proxy (SEPP), which offers end-to-end confidentiality for roaming messages.

One NZ Boosts 5G Network with Dense Air NZ Acquisition

One New Zealand (One NZ) took decisive action by acquiring the local business segment of Dense Air, thereby securing an additional 2x35MHz of the 2600MHz spectrum. This acquisition, set to expand the company's existing spectrum until the end of 2028, promises immediate improvements to the speed and capacity of One NZ's 4G and 5G networks.

STC Is Currently the Largest Operator in Saudi Arabia, With Around 20 Million Mobile Subscriptions

The Saudi Telecom Company (STC) solidifies its industry dominance by strategically broadening its 5G networks to encompass more than 75 cities nationwide, as per insights from Arab News. This move amplifies STC's impressive reach, having successfully implemented 5G coverage in approximately 90% of pivotal urban domains.

Strategy Analysis & Recommendation

The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the 5G Services Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.

Key Company Profiles

The report delves into recent significant developments in the 5G Services Market, highlighting leading vendors and their innovative profiles. These include Accenture PLC, Asia Pacific Telecommunications Co., Ltd., AT&T Inc., Bharat Sanchar Nigam Limited, Bharti Airtel Limited, BT Group PLC, Cellnex Telecom, S.A., Challenge Networks Resources Pty Ltd. by Vocus Group Limited, China Broadcasting Network International Co., Ltd., China Mobile Limited, China Telecom Corporation Limited, Cisco Systems, Inc., Deutsche Telekom AG, DISH Network Corporation, du by Emirates Integrated Telecommunications Company PJSC, Emirates Telecommunications Group Company PJSC (e&), International Business Machines Corporation, Jordan Telecom Group (Orange Jordan), KDDI Corporation, KT Corporation, Mobile Telecommunications Company Saudi Arabia (Zain KSA), NTT Group, Oman Telecommunications Company SAOG, One Communications Ltd., One NZ New Zealand Limited, Ooredoo Group, Reliance Jio Infocomm. Ltd., Saudi Telecom Company, SK Telecom Co., Ltd., Taiwan Mobile Co., Ltd., Telefónica, S.A., Two Degrees Mobile Limited, Verizon Communications Inc, Viettel Military Industry and Telecoms Group, Vodafone Group PLC, and ZTE Corporation.

Market Segmentation & Coverage

This research report categorizes the 5G Services Market to forecast the revenues and analyze trends in each of the following sub-markets:

• Communication Type
• Enhanced Mobile Broadband
• Massive Machine-Type Communications
• Ultra-Reliable Low Latency Communications
• Application
• Connected Factories
• Connected Healthcare
• Connected Vehicles
• Smart Buildings
• Smart Utilities
• End-User
• Enterprises
• Aerospace & Defense
• Automotive & Transportation
• Banking, Financial Services & Insurance
• Building, Construction & Real Estate
• Consumer Goods & Retail
• Education
• Energy & Utilities
• Government & Public Sector
• Healthcare & Life Sciences
• Information Technology & Telecommunication
• Manufacturing
• Media & Entertainment
• Travel & Hospitality
• Individual
• Region
• Americas
• Argentina
• Brazil
• Canada
• Mexico
• United States
• California
• Florida
• Illinois
• New York
• Ohio
• Pennsylvania
• Texas
• Asia-Pacific
• Australia
• China
• India
• Indonesia
• Japan
• Malaysia
• Philippines
• Singapore
• South Korea
• Taiwan
• Thailand
• Vietnam
• Europe, Middle East & Africa
• Denmark
• Egypt
• Finland
• France
• Germany
• Israel
• Italy
• Netherlands
• Nigeria
• Norway
• Poland
• Qatar
• Russia
• Saudi Arabia
• South Africa
• Spain
• Sweden
• Switzerland
• Turkey
• United Arab Emirates
• United Kingdom

Please Note: PDF & Excel + Online Access - 1 Year