5g Services Market

5g Services Market

5G Services Market Forecasts to 2028 - Global Analysis By Product (Managed Services, Professional Services), Communication Technology (Enhanced Mobile Broadband (eMBB), Ultra Reliable and Low Latency Communications (URLLC), Fixed Wireless Access (FWA), Massive Machine-Type Communications (Mmtc)), Application (Industrial, Energy & Utilities, Retail, Healthcare, Automotive, Consumer Electronics, IT & Telecommunication, Construction, Government & Public Safety, Oil & Gas, Agriculture), End User (Enterprises, Consumers) and Geography

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4.1 (67 reviews)
Published: 2023 ID: SMRC22958

This report covers the impact of COVID-19 on this global market

Years Covered


Estimated Year Value (2022)

US $107 BN

Projected Year Value (2028)

US $455 BN

CAGR (2022 - 2028)


Regions Covered

North America, Europe, Asia Pacific, South America, and Middle East & Africa

Countries Covered

US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa

Largest Market


Highest Growing Market

North America

According to Stratistics MRC, the Global 5G Services Market is accounted for $107 billion in 2022 and is expected to reach $455 billion by 2028 growing at a CAGR of 27.3% during the forecast period. A completely mobile and connected environment is made possible by 5G wireless mobile services, which offer customers a variety of use cases and business models. Additionally, the 5G technology's faster data rates and exceptionally low latency would improve the user experience when using 5G services for a variety of use cases, including seamless video calling, Ultra-High Definition (UHD) videos, virtual reality (VR), and augmented reality (AR) gaming.

According to Ericcson's Mobility Report from June 2019, the region will have over 270 million 5G subscriptions, accounting for roughly 60% of all mobile subscriptions. This indicates that 5G services in the region have a lot of potential.

Market Dynamics:


Growing R&D and deployment

The projected time is anticipated to grow due to item improvements, more R&D, and ground-breaking inventions. With China's 5G testing completed, the company's commanding position in test completion and the most recent findings will hasten the advancement of 5G technology research and development and help to create a set of universally accepted international standards. Vendors must provide wireless test equipment that can efficiently handle 5G technologies in order to advance their businesses. Throughout the forecast period, all of these factors will favourably affect the market.


High deployment cost of 5G technology

The cost of purchasing 5G technology will be quite expensive. Small cell network installation prices that are too high and the lack of security for outdoor power systems that are placed far away are two issues that are anticipated to restrain the expansion of the global 5G test equipment market. Large businesses in the sector are obligated to abide by stringent rules established by telecommunications standards groups. Corporate profit margins are being impacted by the ongoing need for competitive pricing from customers. A problem is anticipated for the market as a result of the high cost of new frequency spectrum releases.


Strategic collaboration among market players

Market participants are aggressively investing in his 5G technology across a number of sectors, including information technology solutions, communication network infrastructure, utilities, and semiconductor integrated circuits (ICs). Along with market participants, numerous governments are accelerating the development of 5G networks. Compared to 4G networks, 5G technology can offer network transmission speeds that are an order of magnitude faster. The end-user industry's adoption of HMI technology has increased demand for networks that can accommodate high-bandwidth, low-latency applications. As a result, a rising number of businesses are concentrating on creating networks and 5G-compatible products as a component of the 5G network ecosystem.


Small cell installations

The rapid and affordable installation of small cell networks is one of the main requirements for 5G deployments. But numerous locations around the world face significant financial, governmental, and administrative challenges with installing tiny cells, further delaying the adoption of 5G technology. Small cell installations are therefore limiting the growth of the global 5G services market.

Covid-19 Impact

The global economy might be impacted by COVID-19 in three distinct ways: directly via production and demand, indirectly through supply chains and marketplaces, and financially through its effects on businesses and financial markets. The COVID-19 outbreak prevented multiple 5G cores and base station equipment from being installed in 2020, and various federal governments in significant countries postponed the spectrum auction for 5G services, which slowed the market's expansion.

The enhanced Mobile Broadband (eMBB) segment is expected to be the largest during the forecast period

The enhanced Mobile Broadband (eMBB) segment is estimated to have a lucrative growth. The large proportion is ascribed to 5G network operators' initial focus on offering better internet capabilities for applications like fast cloud gaming, augmented reality and virtual reality, UHD video, and continuous video conversations. It is anticipated that the initial rollout phase would concentrate on 5G wireless non-standalone deployment architecture. For both home and business use, eMBB offers very fast broadband speeds. In order to support a variety of use cases, including in-vehicle entertainment, 4K video access, and virtual meetings, eMBB is anticipated to be a key factor in the segment's growth.

The Enterprises segment is expected to have the highest CAGR during the forecast period

The Enterprises segment is anticipated to witness the fastest CAGR growth during the forecast period. 5G's ability to seamlessly connect infrastructures, devices, and things rather than connecting people will provide the technology with its most significant advantages. 5G will serve as the fundamental framework for a variety of new applications in sectors including manufacturing, transportation, and healthcare. In order to unlock a new universe of corporate services, the standards and capabilities are now being established. Commercial 5G corporate applications, such as Industry 4.0 factories, autonomous driving cars, and robotic surgery, are therefore now in the implementation stage. Edge computing paired with 5G network slicing would be especially beneficial for telerobotics and autonomous driving applications that demand low latency and rapid reaction times.

Region with highest share:

Europe is projected to hold the largest market share during the forecast period. To begin rolling out 5G services in Europe, the European Union has created a 5G action plan. The huge need for continuous 5G coverage in European cities is fostering market expansion. Strong demand for broadband network services is prevalent in European nations including the United Kingdom, France, and Germany, and this is projected to favourably affect the expansion of the 5G service market.

Region with highest CAGR:

North America is projected to have the highest CAGR over the forecast period, owing to considerable network infrastructure advancements. The 5G network service was first adopted in North America. In order to enable significant market development, a number of telecom providers have already announced plans to roll out 5G services throughout the area. The adoption of internet of things (IoT)-based apps and smart infrastructure initiatives is leading the way in North America.

Key players in the market

Some of the key players profiled in the 5G Services Market include Qualcomm Inc., Samsung Electronics Co. Ltd., LG Electronics Inc., Nokia Corporation, Intel Corporation, Cisco Systems Inc., Huawei Investment and Holding Co. Ltd., Bell Canada, Nippon Telegraph and Telephone Corp., Vodafone Group, BT Group and Airtel.

Key Developments:

In February 2021, Starhub and Nokia Corporation announced a partnership for the deployment of a new cloud-based 5G core network aimed to manage rapidly growing 5G standalone (SA) bandwidth demand.

Products Covered:
• Managed Services
• Professional Services
• Other Products

Communication Technologies Covered:
• Enhanced Mobile Broadband (eMBB)
• Ultra Reliable and Low Latency Communications (URLLC)
• Fixed Wireless Access (FWA)
• Massive Machine-Type Communications (Mmtc)
• Other Communication Technologies

Applications Covered:
• Industrial
• Energy & Utilities
• Retail
• Healthcare
• Automotive
• Consumer Electronics
• IT & Telecommunication
• Construction
• Government & Public Safety
• Oil & Gas
• Agriculture
• Other Applications

End Users Covered:
• Enterprises
• Consumers
• Other End Users

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

Table of Contents

1 Executive Summary

2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions

3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Product Analysis
3.7 Application Analysis
3.8 End User Analysis
3.9 Emerging Markets
3.10 Impact of Covid-19

4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry

5 Global 5G Services Market, By Product
5.1 Introduction
5.2 Managed Services
5.3 Professional Services
5.4 Other Products

6 Global 5G Services Market, By Communication Technology
6.1 Introduction
6.2 Enhanced Mobile Broadband (eMBB)
6.3 Ultra Reliable and Low Latency Communications (URLLC)
6.4 Fixed Wireless Access (FWA)
6.5 Massive Machine-Type Communications (Mmtc)
6.6 Other Communication Technologies

7 Global 5G Services Market, By Application
7.1 Introduction
7.2 Industrial
7.3 Energy & Utilities
7.4 Retail
7.5 Healthcare
7.6 Automotive
7.7 Consumer Electronics
7.8 IT & Telecommunication
7.9 Construction
7.10 Government & Public Safety
7.11 Oil & Gas
7.12 Agriculture
7.13 Other Applications

8 Global 5G Services Market, By End User
8.1 Introduction
8.2 Enterprises
8.3 Consumers
8.4 Other End Users

9 Global 5G Services Market, By Geography
9.1 Introduction
9.2 North America
9.2.1 US
9.2.2 Canada
9.2.3 Mexico
9.3 Europe
9.3.1 Germany
9.3.2 UK
9.3.3 Italy
9.3.4 France
9.3.5 Spain
9.3.6 Rest of Europe
9.4 Asia Pacific
9.4.1 Japan
9.4.2 China
9.4.3 India
9.4.4 Australia
9.4.5 New Zealand
9.4.6 South Korea
9.4.7 Rest of Asia Pacific
9.5 South America
9.5.1 Argentina
9.5.2 Brazil
9.5.3 Chile
9.5.4 Rest of South America
9.6 Middle East & Africa
9.6.1 Saudi Arabia
9.6.2 UAE
9.6.3 Qatar
9.6.4 South Africa
9.6.5 Rest of Middle East & Africa

10 Key Developments
10.1 Agreements, Partnerships, Collaborations and Joint Ventures
10.2 Acquisitions & Mergers
10.3 New Product Launch
10.4 Expansions
10.5 Other Key Strategies

11 Company Profiling
11.1 Qualcomm Inc.
11.2 Samsung Electronics Co. Ltd.
11.3 LG Electronics Inc.
11.4 Nokia Corporation
11.5 Intel Corporation
11.6 Cisco Systems Inc.
11.7 Huawei Investment and Holding Co. Ltd.
11.8 Bell Canada
11.9 Nippon Telegraph and Telephone Corp.
11.10 Vodafone Group
11.11 BT Group
11.12 Airtel

List of Tables
1 Global 5G Services Market Outlook, By Region (2020-2028) ($MN)
2 Global 5G Services Market Outlook, By Product (2020-2028) ($MN)
3 Global 5G Services Market Outlook, By Managed Services (2020-2028) ($MN)
4 Global 5G Services Market Outlook, By Professional Services (2020-2028) ($MN)
5 Global 5G Services Market Outlook, By Other Products (2020-2028) ($MN)
6 Global 5G Services Market Outlook, By Communication Technology (2020-2028) ($MN)
7 Global 5G Services Market Outlook, By Enhanced Mobile Broadband (eMBB) (2020-2028) ($MN)
8 Global 5G Services Market Outlook, By Ultra Reliable and Low Latency Communications (URLLC) (2020-2028) ($MN)
9 Global 5G Services Market Outlook, By Fixed Wireless Access (FWA) (2020-2028) ($MN)
10 Global 5G Services Market Outlook, By Massive Machine-Type Communications (Mmtc) (2020-2028) ($MN)
11 Global 5G Services Market Outlook, By Other Communication Technologies (2020-2028) ($MN)
12 Global 5G Services Market Outlook, By Application (2020-2028) ($MN)
13 Global 5G Services Market Outlook, By Industrial (2020-2028) ($MN)
14 Global 5G Services Market Outlook, By Energy & Utilities (2020-2028) ($MN)
15 Global 5G Services Market Outlook, By Retail (2020-2028) ($MN)
16 Global 5G Services Market Outlook, By Healthcare (2020-2028) ($MN)
17 Global 5G Services Market Outlook, By Automotive (2020-2028) ($MN)
18 Global 5G Services Market Outlook, By Consumer Electronics (2020-2028) ($MN)
19 Global 5G Services Market Outlook, By IT & Telecommunication (2020-2028) ($MN)
20 Global 5G Services Market Outlook, By Construction (2020-2028) ($MN)
21 Global 5G Services Market Outlook, By Government & Public Safety (2020-2028) ($MN)
22 Global 5G Services Market Outlook, By Oil & Gas (2020-2028) ($MN)
23 Global 5G Services Market Outlook, By Agriculture (2020-2028) ($MN)
24 Global 5G Services Market Outlook, By Other Applications (2020-2028) ($MN)
25 Global 5G Services Market Outlook, By End User (2020-2028) ($MN)
26 Global 5G Services Market Outlook, By Enterprises (2020-2028) ($MN)
27 Global 5G Services Market Outlook, By Consumers (2020-2028) ($MN)
28 Global 5G Services Market Outlook, By Other End Users (2020-2028) ($MN)

Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.

List of Figures


Research Methodology

We at Stratistics opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.

Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.

Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.

Data Mining

The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.

Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.

Data Analysis

From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:

  • Product Lifecycle Analysis
  • Competitor analysis
  • Risk analysis
  • Porters Analysis
  • PESTEL Analysis
  • SWOT Analysis

The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.

Data Validation

The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.

We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.

The data validation involves the primary research from the industry experts belonging to:

  • Leading Companies
  • Suppliers & Distributors
  • Manufacturers
  • Consumers
  • Industry/Strategic Consultants

Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.

For more details about research methodology, kindly write to us at info@strategymrc.com

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