Telecomunicazioni
Major Three Drivers Propelling The 5G Services Market At An Annual Growth Rate Of 51% - By The Business Research Company
The global 5G services market is concentrated, with a few large players. AT&T, Inc. was the largest competitor with 21.51% share of the 5G services market, followed by Verizon Communications, Inc., Deutsche Telekom AG, China Mobile Ltd., T-Mobile USA , Inc., SK Telecom Co., Ltd., Saudi Telecom Company, Vodafone Group, China Telecom Corporation Ltd. and BT Group plc.
Top three drivers encouraging players to invest in 5G services market are:
A rise in demand for connected cars are expected to drive the 5G services market during the forecast period. 5G car connectivity facilitates connections between automobiles, infrastructure, network services and other road users, like pedestrians and bicycles. For instance, in February 2021 , according to a report shared by McKinsey & Company, a US-based management consulting firm, almost 95% of new automobiles sold globally by 2030 will be connected, up from around 50% currently. These vehicles will have intermediate and advanced connectivity in about 45% of them.
The 5G services market is expected to be supported by the rapid growth in smart homes in the forecast period. 5G technologies provide both home security and home automation. For instance, according to CITyFiED, a Spain -based project funded by the European Union's Seventh Program, the number of smart homes in Europe is expected to reach 84 million by 2022, with Germany , the UK and France pushing the market forward. The smart home penetration rate in the UK is expected to reach 63% by 2025.
Favorable government initiatives, particularly in developing countries, are expected to fuel the growth of the 5G services market during the forecast period. Governments across various countries are focusing on 5G infrastructure. For instance, in March 2022 , the Minister of Industry and Information Technology (MIIT), China , planned to install over two million 5G base stations by the end of 2022, to expand the application of information and communication technology (ICT). Therefore, the increasing number of government initiatives will contribute to the growth of the 5G services market.
The global 5G services market is segmented -
1) By Communication Type: Fixed Wireless Access (FWA), Enhanced Mobile Broadband (eMBB), Ultra-Reliable and Low Latency Communications (uRLLC), Massive Machine-Type Communications (mMTC)
2) By End-User: Manufacturing, Energy & Utilities, Media & Entertainment, IT & Telecom, Transportation & Logistics, Healthcare
3) By Vertical: Smart Cities, Smart Buildings, Connected Factories, Smart Utilities, Connected Healthcare, Connected Retail, Other Verticals
According to the 5G services market forecast, the top opportunities in the 5G services market segmented by communication type will arise in the enhanced mobile broadband (eMBB)segment, by end-user will arise in the IT & telecom segment, by vertical will arise in the smart cities segment. The 5G services market size will gain the most in the USA at $157.42 billion .
5G Technologies Global Market Report 2023
https://www.thebusinessresearchcompany.com/report/5g-technologies-global-market-report
5G Infrastructure Equipment Global Market Report 2023
https://www.thebusinessresearchcompany.com/report/5g-infrastructure-equipment-global-market-report
5G Fixed Wireless Access Global Market Report 2023
https://www.thebusinessresearchcompany.com/report/5g-fixed-wireless-access-global-market-report
The Business Research Company has published over 3000+ detailed industry reports, spanning over 3000+ market segments and 60 geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.
The Global Market Model, The Business Research Company's flagship product, is a market intelligence platform covering various macroeconomic indicators and metrics across 60 geographies and 27 industries. The Global Market Model covers multi-layered datasets that help its users make better strategic decisions.
The Business Research Company
Europe : +44 207 1930 708
Asia : +91 8897263534
Americas: +1 315 623 0293
Email: info@tbrc.info
https://in.linkedin.com/company/the-business-research-company
https://twitter.com/tbrc_info
https://www.facebook.com/TheBusinessResearchCompany
https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
https://blog.tbrc.info/
https://healthcareresearchreports.com/
https://www.thebusinessresearchcompany.com/global-market-model
Logo: https://mma.prnewswire.com/media/1751581/tbrc_logo.jpg
View original content:https://www.prnewswire.co.uk/news-releases/major-three-drivers-propelling-the-5g-services-market-at-an-annual-growth-rate-of-51--by-the-business-research-company-301781782.html