The 5G Services Market is being driven by Growing research and development and deployment of 5G network
The 5G Services Market is expected to grow at a CAGR of 39.2% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 743372.1 million. In the modern business landscape, smart cities are gaining significant traction due to their advanced ICT infrastructure, which facilitates the development of interconnected and harmonized public amenities and infrastructure. Communication is a crucial component of this infrastructure, enabling every system to be connected to the Internet and integrated seamlessly. This includes Internet, landline, and wireless services, all essential for commercial applications. Moreover, smart cities necessitate extensive Machine-Type Communication (MTC) applications, which are integral to their efficient functioning. Notable MTC applications include smart metering, property monitoring, logistics management, and smart parking. These applications demand very low data rates but extensive long-reach connectivity due to their placement in challenging environments such as basements and farms.
Get more information on 5G Services Market by requesting a sample report
The market is segmented based on
According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows:
However, the market also witnesses some limitations, which are as follows:
Rich Experience: 20+ years leading global market research, trusted insights across industries.
Unlock Business Potential with Technavio: Maximize ROI with Technavio's tailored market research: deep dives and actionable insights.
Your Guide to Market Success: Empower your business with Technavio's market research and future-proof your decisions.
Market Scope |
|
Report Coverage |
Details |
Page number |
224 |
Base year |
2024 |
Historic period |
2019-2023 |
Forecast period |
2025-2029 |
Growth momentum & CAGR |
Accelerate at a CAGR of 39.2% |
Market growth 2025-2029 |
USD 743372.1 million |
Market structure |
fragmentation |
YoY growth 2024-2025(%) |
30.0 |
Key countries |
US, China, Germany, Canada, UK, Japan, France, South Korea, UAE, and Mexico |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Find out which segment is leading the market by accessing the free PDF report
The 5G Services Market encompasses advanced technologies such as mMTC communication and eMBB, underpinned by UrLLC services, 5G SA architecture, and NSA deployment. Cloud RAN, edge computing platforms, network orchestration, and service function chaining are integral components. 5G employs various spectrum bands, channel modeling, and interference mitigation for signal processing. Security threats, data analytics, network monitoring, and performance management are addressed. Power consumption, antenna array design, signal propagation, and radio resource management are crucial for efficient network operation. Mobility management, handover optimization, RAN slicing, core network slicing, and 5G slicing technologies are key features of the 5G Network Architecture. 5G Base Stations and protocols complete the infrastructure, with network planning ensuring optimal deployment.
The 5G services market encompasses the revenue generated by providers offering specialized business services, such as network slicing, millimeter wave, massive MIMO, and beamforming techniques. According to Technavio's market research, this market size is determined by the earnings of various business service providers, including network providers, security services, legal consulting firms, personal services, renovation and interior design companies, consumer auction platforms, wedding planners, and funeral homes. Excluded from this analysis are business services classified under casino and gaming, hospitality, education, and leisure industries.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
Safe and Secure SSL Encrypted