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As per the analysis, the global 5G services market is expected to secure a market value of US$ 3,827.64 Billion by 2032 while expanding at a CAGR of 55% from 2022 to 2032. The 5G service is estimated to hold a market value of USD 48 Billion by 2022. The rapid development in virtualization in the networking domain is expected to be the key factor propelling the market in the forecast period.
The services are likely to witness significant demand in the field of VR, AR, and Ultra-High Definition videos. The increasing demand for the 5G technology in IoT is projected to provide a significant boost to the market in the forecast period. Furthermore, the rising demand for 5G services in the residential and commercial sector is another factor that can fuel the market significantly in the coming time.
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Report Attributes |
Details |
|
Anticipated Base Year Value (2021) |
US$ 30.85 Billion |
|
Expected Market Value (2022) |
US$ 48 Billion |
|
Projected Forecast Value (2032) |
US$ 3827 Billion |
|
Global Growth Rate (2022-2032) |
55% CAGR |
|
Expected CAGR of U.S. Market (2032) |
20% |
|
Anticipated Market Share of Asia Pacific(2022-2032) |
38% |
Key Takeaways from the Market Study
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Competitive Landscape
The key players of the market opt for various methods to secure their position in the market. Adoption of strategies such as; partnership, acquisition, and collaboration are some of the methods. The players also make a significant investment to enhance their global reach. Some of the recent developments among the key players are:
Key Segments Profiled in the 5G Services Industry Survey
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More Valuable Insights
Fact.MR, in its new offering, presents an unbiased analysis of the global 5G services market, presenting historical analysis from 2017 to 2021 and forecast statistics for the period of 2022-2032.
The study reveals essential insights on the basis of vertical (mining, public safety, it & telecom, healthcare & social work, agriculture, manufacturing, aerospace & defense, government, real estate, retail, transportation & logistics, bfsi, oil & gas, construction), communication type (FWA, eMBB, mMTC, uRLLC) and region (North America, APAC, Europe, Latin America, and MEA)
Check out more related studies published by Fact.MR Research:
5G Core Market – Global revenue of 5G core in 2021 was held at US$ 1.1 Bn. Further, the market is projected to grow at a CAGR of 26.7% during 2022 – 2032. Solution is expected to be the highest revenue-generating component, with a projected growth of 25.5% during 2022 – 2032.
5G Industrial IoT Market – The global 5G industrial IoT demand is projected to witness remarkable growth during 2021-2031. The boom in artificial intelligence and IoT technology is driving product sales. Also, the need to look beyond smart factories, intelligent products, and services towards enterprise as a whole and the unique benefits of high capacity urban wireless applications are key factors augmenting the demand for 5G industrial IoT products worldwide.
5G Fixed Wireless Access Market – The global 5G fixed wireless access market is estimated to secure US$ 121 Billion by 2032, with a whopping CAGR of 43.6%. The market is projected to hold a market value worth US$ 3.3 Billion in 2022. The market is expected to garner absolute dollar growth of US$ 117.8 Billion by 2032. Expansion of the market can be attributed to the growing adoption of modern technologies like the Internet of Things (IoT) and machine-to-machine (M2M).
Small Cell 5G Network Market – The small cell 5G network market is predicted to grow at a steady CAGR of 22.6% during the forecast period (2022-2032). It is estimated to be worth around US$ 8.2 Bn in 2032, rising up from US$ 1.1 Bn in 2022. The demand for small cell 5G network is predicted to rise due to an increase in investment in 5G infrastructure and increased financing for high-speed networks in a number of nations throughout the world
Managed Network Services Market – The global market for managed security services is anticipated to witness robust growth, reaching US$ 130 Bn in value by the end of the 2021-2031 assessment period. By 2021-end, a valuation of US$ 60.4 Bn is projected for the industry. The market is poised to surge more than 2x in the forthcoming decade, with demand for managed security services to be most prominent.
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