Global 5G Services Markets, 2020-2026: Focus on Manufacturing, Media and Entertainment, Transportation and Logistics, Government

Dublin, April 01, 2021 (GLOBE NEWSWIRE) -- The "5G Services Market by End User (Consumers and Enterprises), Enterprise (Manufacturing, Media and Entertainment, Transportation and Logistics, Government), Application, Communication Type (eMBB, MMTC, URLLC, and FWA), and Region - Global Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.

The global 5G Services market size is expected to grow from USD 53.0 billion in 2020 to USD 249.2 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 29.4% during the forecast period.

The transformation to the 5G ecosystem is expected to witness 3-4 times faster growth rate than other connectivity transformations. This is primarily due to the rapid innovation in virtualization in the networking domain, coupled with the growing numbers of applications, which require a latent-free connection. The above factors have resulted to expect rapid adoption of 5G services, followed by a quick roll out of 5G services by other developing economies

Enterprises segment is expected to grow at the highest CAGR during the forecast period

The commercial 5G enterprise applications, such as Industry 4.0 factories, autonomous driving cars, and robotic surgeries, are already in the execution phase. Latency-dependent and time-sensitive applications, such as automated vehicle driving and telerobotics, will especially benefit from edge computing in combination with 5G network slicing.

For instance, the self-driving car is an upcoming idea with 5G wireless networks. High-performance wireless network connectivity with low latency is preferred for autonomous driving. In future, cars can communicate with smart traffic signs, surrounding objects, and other vehicles on the road

Healthcare segment to grow at the highest CAGR during the forecast period

5G opportunities in healthcare rely on a combination of massive IoT and enhanced broadband to support telemedicine. 5G will help improve diagnoses requiring multiple connections at a remote site (patient dialysis at home or remote control of medical equipment). Telemedicine and connected equipment inside hospitals will be possible using 5G.

For instance, massive IoT strides had already been taking place ahead of events in 2020. Consider Saratoga Hospital in Saratoga Springs, NY, US. The hospital found itself bogged down with administrative tasks, such as taking patients vital signs every few hours and manually logging the results. 5G services were adopted by the hospital to improve the service and healthcare during the pandemic.

Asia Pacific (APAC) region to record the highest growing region in the 5G services market

APAC has several growing economies, such as China, South Korea, Australia and Japan, which are expected to register high growth in the 5G services market. These countries have always supported and promoted industrial and technological growth. In addition, they possess a developed technological infrastructure, which is promoting the adoption of 5G services solutions 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. APAC is one of the biggest markets for connected devices

Market Dynamics

Drivers

• Increasing Mobile Network Data Traffic

• Need to Transform the Mobile Broadband Experience

• Accelerate Digital Transformation of Verticals

• Development of Smart Infrastructure

Restraints

• High Costs Required for Deployment of 5G Network

Opportunities

• Move Beyond Connectivity and Collaborate Across Sectors to Deliver New, Rich Services

• Increasing Demand for High Reliability and Low Latency Networks

• Unleashing Massive IoT Ecosystem and Critical Communications Services

Challenges

• Delay in Spectrum Harmonization Across Geographies

Case Study Analysis

• Vodafone

• Sk Telecom

• China Mobile

• Telefonica

• AT&T

• Technology Analysis

• Wi-Fi

• Wimax

• Network Slicing in Radio Access Network

• Network Slicing in Core Network

• Network Slicing in Transport Network

• Small Cell Networks

• Long-Term Evolution Network

• Citizens Broadband Radio Service

• Multefire

Regulatory Implications

• General Data Protection Regulation

• California Consumer Privacy Act

• Payment Card Industry-Data Security Standard

• Health Insurance Portability and Accountability Act

• Digital Imaging and Communications in Medicine

• Health Level Seven

• Gramm-Leach-Bliley Act

• Sarbanes-Oxley Act

• Soc2

• Communications Decency Act

• Digital Millennium Copyright Act

• Anti-Cybersquatting Consumer Protection Act

• Lanham Act

Companies Mentioned

• Airtel

• AT&T

• Bell Canada

• Bt Group

• China Mobile

• China Telecom

• China Unicom

• Deutsche Telekom

• Dish

• Etisalat

• Kddi

• KT

• LG U+

• MTN

• Ntt Docomo

• Orange S.A.

• Rakuten

• Reliance JIO

• Rogers

• SK Telecom

• STC

• Swisscom

• T-Mobile

• Telefonica

• Telenor Group

• Telstra

• Telus

• Verizon

• Vodafone

For more information about this report visit https://www.researchandmarkets.com/r/btraww

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