"Smart Strategies, Giving Speed to your Growth Trajectory"
The rising demand for high-speed data and voice connectivity for the internet of things (IoT) applications is projected to drive the adoption of 5G services. Besides, low latency and faster data speeds offered by the 5G technology would likely enhance the adoption of 5G services in near future. The growing proliferation of augmented reality (AR) gaming, virtual reality (VR), seamless video calling, and ultra-high definition (UHD) videos would be likely to drive the 5G service market. Thus, improvements in connected internet of things (IoT) devices will produce a significant demand for 5G services. Significant investments by various government and private entities for advanced network infrastructure services would fuel the growth of the 5G service market
5G system integration providers are increasingly focusing on building partnerships with the telecommunication operators to enhance the adoption of 5G services.
Smart infrastructure projects such as smart energy grids, smart buildings, smart cities, and others demand robust network connectivity. Also, the growing proliferation of cloud-based applications further escalated the demand for advanced network infrastructure. Moreover, the government's significant investments and supportive initiatives are further supporting 5G wireless service market growth.
Key Market Driver -
• Growing demand for high speed data and uninteruupted voice service would be likely to drive the 5G service market • Developing smart infrastructure projects would likely to accelerate demand for 5G service demand
Key Market Restraint -
• High initial costs and complex infratstructure to limit the adoption
The global 5G service market is operated by numerous, well-established, global market players. These well-known companies are coming up with various organic and inorganic business strategies to stay competitive in the global market. Prominent market players are focusing on strategic associations and collaborations with telecom network service providers. New product launches and product enhancements help vendors to strengthen their market position. Several market players are putting in research and development activities to develop 5G supportive products and solutions.
The key players operating the global 5G Services market include AT&T Inc., BT Group plc, China Mobile Ltd., China Telecom Corporation Limited, Bharti Airtel Limited, KT Corporation, Saudi Telecom Company, Vodafone Group, Deutsche Telekom AG, SK Telecom Co., Ltd., Verizon Communications Inc., NTT Docomo, Telecom Italia, Sprint Corporation, and among others.
North America is anticipated to hold a significant share in the global 5G service market owing to significant network infrastructure developments. North America has been an early adapter of the 5G network service. According to the report entitled ‘Mobile Economic North America 2020’, publicized by GSMA Intelligence, over half of the total mobile connections in North America will be running on 5G network service in the coming years. Several telecommunication vendors have already planned to roll-out 5G services across the region, supporting substantial market growth. North America is forefront in adopting smart infrastructure projects and the internet of things (IoT) based applications. In April 2019, the United States-based telecom operators launched 5G services for smartphone users, witnessing substantial development of 5G services across the region.
Europe is also expected to contribute significantly to the global 5G service market, and its growth is mainly attributed to rigorous research and development activities in the region. The European Union has adopted a 5G action plan to start launching 5G services in Europe. The significant demand for an uninterrupted 5G coverage in the European urban areas supports the market growth. Europe countries such as United Kingdom, France, and Germany are representing strong demand for broadband network services, which are also likely to contribute to the 5G service market growth positively
Te Asia Pacific is anticipated to be the fastest growing market for 5G service during the forecast period. The government across the region is investing significantly to develop advanced network infrastructure. Numerous market players are demonstrating substantial investments to roll out the 5G services across the Asia Pacific. Thus, the high investments for improving network connectivity can catalyze the 5G service market growth in the Asia Pacific.
To gain extensive insights into the market, Request for Customization
By End User
“This report is really well done and we really appreciate it! Again, I may have questions as we dig in deeper. Thanks again for some really good work.”- U.S.-based biotechnology company focussing on treatment of chronic pain.
“Kudos to your team. Thank you very much for your support and agility to answer our questions.”- Europe-based provider of solutions to automate data centre operations.
“We appreciate you and your team taking out time to share the report and data file with us, and we are grateful for the flexibility provided to modify the document as per request. This does help us in our business decision making. We would be pleased to work with you again, and hope to continue our business relationship long into the future.”- India-based manufacturer of industrial and specialty intermediates with a strong global presence.
“I want to first congratulate you on the great work done on the Medical Platforms project. Thank you so much for all your efforts.”- One of the largest cosmetics company in the world.
“Thank you very much. I really appreciate the work your team has done. I feel very comfortable recommending your services to some of the other startups that I’m working with, and will likely establish a good long partnership with you.”- U.S. based startup operating in the cultivated meat market.
“We received the below report on the U.S. market from you. We were very satisfied with the report.”- UGlobal hearing aids manufacturer.
“I just finished my first pass-through of the report. Great work! Thank you!”- U.S. based solar racking solutions provider.
“Thanks again for the great work on our last partnership. We are ramping up a new project to understand the imaging and imaging service and distribution market in the U.S.”- World’s leading advisory firm.
“We feel positive about the results. Based on the presented results, we will do strategic review of this new information and might commission a detailed study on some of the modules included in the report after end of the year. Overall we are very satisfied and please pass on the praise to the team. Thank you for the co-operation!”- Germany based machine construction company.
“Thank you very much for the very good report. I have another requirement on cutting tools, paper crafts and decorative items.”- Japanese manufacturing company of stationery products.
“We are happy with the professionalism of your in-house research team as well as the quality of your research reports. Looking forward to work together on similar projects”- One of the Leading Food Companies in Germany
“We appreciate the teamwork and efficiency for such an exhaustive and comprehensive report. The data offered to us was exactly what we were looking for. Thank you!”- Intuitive Surgical
“I recommend Fortune Business Insights for their honesty and flexibility. Not only that they were very responsive and dealt with all my questions very quickly but they also responded honestly and flexibly to the detailed requests from us in preparing the research report. We value them as a research company worthy of building long-term relationships.”- Major Food Company in Japan
“Well done Fortune Business Insights! The report covered all the points and was very detailed. Looking forward to work together in the future”- Ziering Medical
“It has been a delightful experience working with you guys. Thank you Fortune Business Insights for your efforts and prompt response”- Major Manufacturer of Precision Machine Parts in India
“I had a great experience working with Fortune Business Insights. The report was very accurate and as per my requirements. Very satisfied with the overall report as it has helped me to build strategies for my business”- Hewlett-Packard
“This is regarding the recent report I bought from Fortune Business insights. Remarkable job and great efforts by your research team. I would also like to thank the back end team for offering a continuous support and stitching together a report that is so comprehensive and exhaustive”- Global Management Consulting Firm
“Please pass on our sincere thanks to the whole team at Fortune Business Insights. This is a very good piece of work and will be very helpful to us going forward. We know where we will be getting business intelligence from in the future.”- UK-based Start-up in the Medical Devices Sector
“Thank you for sending the market report and data. It looks quite comprehensive and the data is exactly what I was looking for. I appreciate the timeliness and responsiveness of you and your team.”- One of the Largest Companies in the Defence Industry