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5G Services Market worth $331.1 billion by 2027 - Exclusive Report by MarketsandMarkets™
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5G services will prove to be highly efficient in the healthcare sector by enabling remote patient monitoring, connected ambulance services, HD virtual consultations, video-enabled prescription management etc. The lower latency 5G will enable data and video to be sent in real-time to the hospital/clinicians in emergency situations and this will have significant impact on the healthcare sector and people's lives.
Ultra-reliable low-latency communication (URLLC) use cases such as autonomous systems and mission-critical control are going to gain traction, which increase the speed and quality of services in critical functions. The automotive industry has been an early adopter of various connectivity technologies. There has been a major impetus by car manufacturers to develop connection-ready cars, taking small steps forward within a long-term vision of autonomous vehicle control using URLLC. Service providers may decide to provide focussed offerings end-to-end as the principle B2B services provider. So, for example they may supply services, including high-definition cameras to a car manufacturer that requires 5G and URLLC on a production line.
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The countries in APAC have high investments done by the governments in 5G services. The high population of the countries in the region have also resulted in higher number of subscribers for 5G, thereby resulting in a higher Average Revenue Per User (ARPU) for 5G service providers. Countries such as China , South Korea , Australia and Japan have high technological growth. The presence of developed technological infrastructure is also one of the key reasons for the adoption of 5G services across all industry verticals.
The network market in APAC is driven by the growing acceptance of cloud-based solutions, emerging technologies such as the IoT, and big data analytics and mobility.
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Key and innovative vendors in are AT&T (US), China Mobile ( China ), SK Telecom ( South Korea ), Verizon (US), BT Group (UK), Deutsche Telekom ( Germany ), T-Mobile (US), China Telecom ( China ), Orange S.A ( France ), Vodafone (UK), China Unicom ( China ), Telstra ( Australia ), Telefonica ( Spain ), KT ( South Korea ), Rogers (Canada), Bell Canada (Canada), Etisalat( UAE), STC (KSA), LG U+( South Korea ), NTT Docomo ( Japan ), KDDI ( Japan ), Telus (Canada), Swisscom ( Switzerland ), DISH (US), Reliance Jio( India ), Rakuten ( Japan ), MTN ( South Africa ), Airtel ( India ), and Telenor Group ( Norway )
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