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The Global 5G Services Market is expected to grow from US$ 53.93 Billion in 2020 to US$ 123.27 Billion by 2025, at a Compound Annual Growth Rate (CAGR) of 18.0% during the forecast period. The rising demand for reliable and ultra-low latency connectivity services, increasing use of connected Internet of Things (IoT) devices, and growing data traffic are some of the factors expected to drive the 5G services market.
“The broadband vertical to hold the largest market share during the forecast period”
The Broadband vertical is expected to have the largest market share in the5G Services market by 2025.The 5G Fixed Wireless Access (FWA) application would disrupt the broadband ecosystem, as companies have started deploying it on a trial basis in several cities.
“The enhanced Mobile Broadband (eMBB) segment to hold the largest market share during the forecast period”
The eMBB segment is expected to hold the largest market share during the forecast period. eMBB is initially considered as an extension to 4G services, and would be commercialized by late 2018 or early 2019. Therefore, due to the early adoption of this application, it is expected to hold the largest market share during the forecast period.
“North America to grow at the highest CAGR during the forecast period”
In terms of growth rate, North America is expected to grow at the fastest growth rate, due to its dominance via sustainable and well-established economies, which enable it to invest heavily in Research and Development(R&D) activities. Owing to the rising adoption of new technologies, such as IoT and smart cities, and increasing need for high-speed internet connectivity, telecom service providers have started trials and tests for 5G services.
Breakdown of primary participants’ profile:
- By Company: Tier 1 – 25%, Tier 2 – 35%, and Tier 3 – 40%
- By Designation: C-Level – 45%, Director Level – 51%, and Others – 4%
- By Region: North America – 39%, Europe – 25%, APAC – 30%, and Rest of the World (RoW)–6%