5G Services Market Size 2024: Current Growth Rate, Future Outlook And Forecast To 2028
The global 5G Services Market size is estimated at USD 121.8 billion in 2023 to USD 1,002.3 billion by 2028, at a Compound Annual Growth Rate (CAGR) of 52.4%, according to a new report by MarketsandMarkets™. The innovative concept of network slicing in 5G represents a transformative leap in network customization, offering virtual, dedicated slices tailored to the unique requirements of specific applications or services. This capability is a pivotal driver for the diverse range of use cases enabled by 5G technology. For massive IoT deployments, network slicing allows the creation of dedicated slices optimized for handling a vast number of connected devices with varying communication needs.
Download Report Brochure @
https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=226908556
5G Services Market Dynamics:
Drivers:
Increase in mobile network data traffic.
Restraints:
High costs for deployment of 5G network.
Opportunities:
Growth in data generated by IoT devices creates new opportunities.
List of Key Players in 5G Services Market:
AT&T (US)
China Mobile (China)
SK Telecom (South Korea)
Verizon (US)
BT Group (UK)
Deutsche Telekom (Germany)
China Telecom (China)
Orange (France)
Vodafone (UK)
China Unicom (China)
Telstra (Australia)
Telefonica S.A (Spain)
KT Corporation (South Korea)
Get Sample Report @
https://www.marketsandmarkets.com/requestsampleNew.asp?id=226908556
Simultaneously, in ultra-reliable low-latency communication (URLLC) scenarios, such as mission-critical applications in healthcare or industrial automation, dedicated slices ensure the stringent demands for real-time responsiveness and reliability are met. Network slicing thus becomes a crucial proponent in the adaptability of 5G, fostering a flexible and efficient network infrastructure that can accommodate the varied and evolving demands of a multitude of applications and industries.
“Based on communication type, the eMBB segment to hold the largest market size during the forecast period.”
The promise of significantly faster data speeds with 5G stands as a pivotal market driver for Enhanced Mobile Broadband (eMBB), reshaping the landscape of user experiences. This accelerated speed is a transformative force, particularly for data-intensive applications that have become integral to contemporary lifestyles. The ability of 5G to deliver higher download and upload speeds serves as a cornerstone for the flourishing demand in areas such as high-definition video streaming, virtual reality, and augmented reality. In the realm of video streaming, 5G facilitates seamless, buffer-free streaming of high-quality content, enhancing the user's entertainment experience. Moreover, in the realm of immersive technologies like virtual and augmented reality, the faster data speeds of 5G contribute to reduced latency, ensuring a more responsive and realistic user experience. This heightened speed not only meets current consumer expectations but also unlocks the potential for novel applications and services, driving market growth as businesses and consumers alike seek the enhanced capabilities that 5G brings to the forefront.
“By end user, enterprise segment is expected to hold a higher growth rate during the forecast period.”
5G Services Market Size 2024: Current Growth Rate, Future Outlook And Forecast To 2028
The global 5G Services Market size is estimated at USD 121.8 billion in 2023 to USD 1,002.3 billion by 2028, at a Compound Annual Growth Rate (CAGR) of 52.4%, according to a new report by MarketsandMarkets™. The innovative concept of network slicing in 5G represents a transformative leap in network customization, offering virtual, dedicated slices tailored to the unique requirements of specific applications or services. This capability is a pivotal driver for the diverse range of use cases enabled by 5G technology. For massive IoT deployments, network slicing allows the creation of dedicated slices optimized for handling a vast number of connected devices with varying communication needs.
Download Report Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=226908556
5G Services Market Dynamics:
Drivers:
Increase in mobile network data traffic.
Restraints:
High costs for deployment of 5G network.
Opportunities:
Growth in data generated by IoT devices creates new opportunities.
List of Key Players in 5G Services Market:
AT&T (US)
China Mobile (China)
SK Telecom (South Korea)
Verizon (US)
BT Group (UK)
Deutsche Telekom (Germany)
China Telecom (China)
Orange (France)
Vodafone (UK)
China Unicom (China)
Telstra (Australia)
Telefonica S.A (Spain)
KT Corporation (South Korea)
Get Sample Report @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=226908556
Simultaneously, in ultra-reliable low-latency communication (URLLC) scenarios, such as mission-critical applications in healthcare or industrial automation, dedicated slices ensure the stringent demands for real-time responsiveness and reliability are met. Network slicing thus becomes a crucial proponent in the adaptability of 5G, fostering a flexible and efficient network infrastructure that can accommodate the varied and evolving demands of a multitude of applications and industries.
“Based on communication type, the eMBB segment to hold the largest market size during the forecast period.”
The promise of significantly faster data speeds with 5G stands as a pivotal market driver for Enhanced Mobile Broadband (eMBB), reshaping the landscape of user experiences. This accelerated speed is a transformative force, particularly for data-intensive applications that have become integral to contemporary lifestyles. The ability of 5G to deliver higher download and upload speeds serves as a cornerstone for the flourishing demand in areas such as high-definition video streaming, virtual reality, and augmented reality. In the realm of video streaming, 5G facilitates seamless, buffer-free streaming of high-quality content, enhancing the user's entertainment experience. Moreover, in the realm of immersive technologies like virtual and augmented reality, the faster data speeds of 5G contribute to reduced latency, ensuring a more responsive and realistic user experience. This heightened speed not only meets current consumer expectations but also unlocks the potential for novel applications and services, driving market growth as businesses and consumers alike seek the enhanced capabilities that 5G brings to the forefront.
“By end user, enterprise segment is expected to hold a higher growth rate during the forecast period.”
