According to a market report by Lucintel, the future of the global 5G service market looks promising with opportunities in the IT and telecom, media and entertainment, automotive, energy and utility, aerospace and defense markets. The global 5G service market is expected to reach an estimated $449.8 billion by 2030 from $86.2 billion in 2024, at a CAGR of 31.7% from 2024 to 2030. The major drivers for this market are strong adoption of 5G services, communications, and infrastructure development to provide superior customer support, rising data traffic and the need for high-speed connectivity, and move toward intelligent transportation systems-integrated smart cities.A more than 150-page report to understand trends, opportunity and forecast in 5G service market to 2030 by communication type (fixed wireless access (FWA), enhanced mobile broadband (eMBB), ultra-reliable and low latency communications (uRLLC), and massive machine-type communications (mMTC)), end use industry (IT and telecom, media and entertainment, automotive, energy and utility, aerospace and defense, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World).
Lucintel forecasts that enhanced mobile broadband (eMBB) is expected to witness the highest growth over the forecast period due to enormous need for faster internet connections in applications like cloud-based gaming, AR/VR, uhd video, and uninterrupted video calls, as well as, capacity of 5G networks to provide unmatched data throughput, drastically lower latency, and increased speed.
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APAC is expected to witness highest growth over the forecast period because of growing need for the services as a result of the rapid infrastructure construction occurring in nations like China, India, Japan, and others in an effort to improve connectivity, along with the steady supply of 5G-enabled devices owing to the large internet user population and growing demand for handsets with faster internet speeds in the region.
AT&T, Bharti Airtel, BT Group, China Mobile Limited, Deutsche Telekom, Saudi Telecom Company, SK Telecom, T-Mobile USA, Verizon Communications, Vodafone Group are the major suppliers in the 5G service market.
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Contact:
Roy Almaguer
Lucintel
Dallas, Texas, USA
Email: [email protected]
Tel. +1-972-636-5056
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