5G Services Market 2023-2027: Size and High deployment cost of 5G technology; growth driven by the End-user, Some of key Companies Positioned Strategically

The 5g services market size by End-user (Consumers and Enterprises) and Geography (North America, APAC, Europe, Middle East and Africa, and South America), is forecast to increase by USD 311.93 billion. The market is expected to grow at a CAGR of   31.13% between 2023 and 2027.

• The global 5G services market faces significant challenges due to the high acquisition and installation costs associated with implementing 5G technology, particularly for small cell networks and outdoor power systems. Strict regulatory compliance and persistent pressure for competitive pricing from customers further impact profitability. For instance, data tariffs for 5G services are currently comparable to those of 3G and LTE. Moreover, the high cost of new frequency spectrum releases poses an additional challenge for market growth. Organizations must navigate these hurdles to effectively capitalize on the opportunities presented by 5G technology.
• The North American market for 5G services is experiencing significant growth due to the increasing adoption of IoT technology in industrial applications, particularly in developed economies like the US and Canada. The US, as a key player in the region, is projected to witness robust expansion in its telecom sector during the forecast period. The surge in wireless technology adoption in the US is a primary driver fueling the growth of the 5G services market in North America. Given the region's technological advancement, North America leads in data traffic generation, making it a critical market for 5G services.

Access the full report to know who are the other key countries segment-wise forecast and historic data

Some of the Key Companies:

• AT and T Inc.
• Bell Canada
• Bharti Airtel Ltd.
• BT Group Plc
• China Mobile Ltd.
• Deutsche Telekom AG
• Etisalat
• kt corp.
• MTN Group Ltd.
• Nippon Telegraph and Telephone Corp.
• Orange SA
• Reliance Industries Ltd.
• Rogers Communications Inc.
• Saudi Telecom Co.
• SK Telecom Co. Ltd.
• T Mobile US Inc.
• Telefonica SA
• Telstra Corp. Ltd.
• Verizon Communications Inc.
• Vodafone Group Plc

Contacts

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/