A swift escalation in the advancement of the Internet of Things (IoT) appliances and their widespread use and a consistent upsurge in the volume of online data transfer in connectivity services is anticipated to push the market growth for 5G network services.
Market Size – USD 52.76 Billion in 2020, Market Growth – CAGR of 28.88%, Market Trends – Surging demand to lessen the latency time in online connectivity services as well as the prerequisite of a consistent network service in this age of communication.
The global 5G services market size is expected to reach USD 401.09 Billion by 2028, according to a new report by Reports and Data. A swift escalation in the advancement of the Internet of Things (IoT) appliances and their widespread use and a consistent upsurge in the volume of online data transfer in connectivity services is anticipated to push the market growth for 5G network services. Another factor causative of the progress of the market is the escalation in demand to lessen the latency time in online connectivity services as well as the prerequisite of a consistent network service in this age of communication.
One key factor curbing the growth of the concerned market is the cost-intensive implementation of 5G network services. The prerequisite for the deployment of 5G connectivity services is mm-Wave frequency which has the issue of rapid attenuation as compared to the frequency waves used in 4G LTE network services, thereby requiring the necessity of a minimum of 10 transmitting antennas (smart antennas for 5G network services) to amplify the attenuating wave as compared to 4G LTE network technology.
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Key participants include Cisco Systems (US), Samsung Electronics (South Korea), AT&T (US), Verizon (US), SK Telecom (South Korea), BT Group (UK), China Telecom (China), Telstra (Australia), Airtel (India), Vodafone (UK), and KT Corporation (South Korea).
Further key findings from the report suggest
To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/5g-services-market
For the purpose of this report, Reports and Data have segmented global 5G services market on the basis of industry verticals, application, and region:
Industry Verticals Outlook (Revenue, USD Million; 2018-2026)
Application Outlook (Revenue, USD Million; 2018-2026)
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Regional Outlook (Revenue, USD Million; 2018-2026)
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