The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

Rising demand from the Internet of Things (IoT) are expected to drive innovation in 5G services manufacturing, thus driving the market during the forecast period.

The global 5G services market is expected to grow from $95 billion in 2022 to $150 billion in 2023 at a compound annual growth rate (CAGR) of 57.9%. The global 5g services market size is expected to grow to $781.72 billion in 2027 at a CAGR of 51.1%.

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Global 5G Services Market Segments Include:

• By Communication Type: Fixed Wireless Access (FWA), Enhanced Mobile Broadband (eMBB), Ultra-Reliable and Low Latency Communications (uRLLC), Massive Machine-Type Communications (mMTC)
• By End-User: Manufacturing, Energy & Utilities, Media & Entertainment, IT & Telecom, Transportation & Logistics, Healthcare
• By Vertical: Smart Cities, Smart Buildings, Connected Factories, Smart Utilities, Connected Healthcare, Connected Retail, Other Verticals
• By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific is the largest region in the global 5G services market in 2021.

Major Market Players in the 5G services market include AT&T, Verizon Communications, Inc., China Mobile, Vodafone, Telstra, China Telecom, Deutsche Telecom, SK Telecom.

The introduction of AI-powered services is a major trend shaping the growth of the 5G services market. The commercial usage of 5G services is expanding rapidly. The growth in the number of connections and cloud-based AR or VR is generating higher demand for 5G services with greater bandwidth, wide coverage, and low latency networks. For instance, in September 2022, Nokia Corporation, a Finland-based communication and information technology company, announced that it has made NTT DOCOMO Inc. use its artificial intelligence (AI) radio frequency (RF) capacity planning software in order to speed up radio frequency planning and assist the Japanese operator in deploying its 5G network effectively. AVA* software from Nokia, which delivers “intelligence everywhere,” includes an AI RF capacity planning solution. Based on DOCOMO’s specifications, it was modified to be able to predict the RF capacity of 4G cells from BTS performance data and simulate the best candidate locations for 5G cell and RAN hardware to achieve the necessary area capacity. Therefore, the introduction of AI in 5G services in order to increase the accuracy and agileness is to act as a major trend for the 5G services market.

The 5G Services Global Market Report 2023 provides a 5G services market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The 5G services market forecast analyzes 5G services market size, 5G services market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

5G is the fifth generation of broadband or cellular technology designed to improve the speed and responsiveness of wireless networks dramatically. It provides high speed, greater bandwidth, and a lower latency Internet network.

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