5G services market size to grow by USD 170.30 billion from 2021 to 2026: A descriptive analysis of parent market, five forces model, market dynamics, and segmentation - Technavio

NEW YORK, Dec. 15, 2022 /PRNewswire/ -- Technavio categorizes the global 5G services market as a part of the global specialized consumer services market, the parent market. The 5G services market covers revenue generated by consumer service providers, including residential services, home security services, legal services, personal services, renovation and interior design services, consumer auction services, wedding services, and funeral services. The  5G services market size is estimated to increase by USD 170.30 billion from 2021 to 2026. The market's growth momentum will accelerate at a CAGR of 30.31%.

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Global 5G services market- Customer landscape

To help companies evaluate and develop growth strategies, the report outlines –

• Key purchase criteria
• Adoption rates
• Adoption lifecycle
• Drivers of price sensitivity

Global 5G services market – Vendor analysis

Vendor Landscape - The global 5G services market is fragmented, with the presence of several global as well as regional vendors. A few prominent vendors that offer 5G services market are AT and T Inc., Bharti Airtel Ltd., BT Group Plc, Deutsche Telekom AG, Nippon Telegraph and Telephone Corp., Orange SA, SK Telecom Co. Ltd., Telstra Corp. Ltd., Verizon Communications Inc., and Vodafone Group Plc and others.

The global 5G services market is at its growing stage. This implies that the market in focus is characterized by growing R&D and deployment of the 5G network. The existing vendors in the market compete based on product design, aesthetics, functionality, and applications. The degree of competition in the market is expected to intensify during the forecast period due to product extensions, fostering further the growth of the market in focus.

Vendor offerings -

• AT and T Inc.: The company offers a wide range of 5G gaming services.
• Bharti Airtel Ltd.: The company offers 5G services for better streaming and browsing experience.
• BT Group Plc: The company offers a wide range of 5G services for a wide range of applications such as gaming and others 
• Deutsche Telekom AG: The company offers 5G services for applications such as multimedia and others.
• Nippon Telegraph and Telephone Corp.: The company offers a wide range of 5G services through its subsidiary, NTT DOCOMO INC.
• For Details on vendors and their offerings – Buy the report!

Global 5G services market - Segmentation assessment

Geography overview

Based on geography, the global 5G services market is segmented into North America, APAC, Europe, MEA, and South America. The report provides actionable insights and an accurate estimation of the contribution of all regions to the growth of the global 5G services market.

• North America will account for 42% of the market's growth during the forecast period. The market in the region is estimated to grow at the fastest pace during the forecast period. The US and Canada are the key markets for 5G services in North America.

Segment overview

Based on end-user, the global 5G services market is segmented into consumer and enterprise.

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Global 5G services market– Market dynamics

• Impactful Driver - The expansion of R&D and the rollout of the 5G network are two significant factors propelling growth in the market for 5G services. Vendors compete for the right to deploy 5G networks, particularly in the Americas. Factors such as increasing demand for improved network capacity to access connected services, increasing telecom subscriber base and rapid growth of urban population, and increasing government initiatives for high-speed 5G network connectivity will have a positive impact on the global 5G services market during the forecast period.
• Major Challenge - The 5G services market will face significant challenges due to the high deployment costs of 5G technology during the forecasted period. One of the issues that are expected to limit the growth of the global 5G test equipment market is the high cost of small cell network installation and the lack of security for remotely located outdoor power systems. Furthermore, the market is expected to face challenges due to the high cost of the new frequency spectrum released and the strict guidelines set forth by telecommunication standard groups.

Drivers, trends, and challenges have an impact on market dynamics, which can impact businesses. Find a few insights from a sample report!

What are the key data covered in this 5G services market report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the 5G services market between 2023 and 2027
• Precise estimation of the size of the 5G services market size and its contribution to the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the 5G services market across APAC, North America, Europe, Middle East and Africa, and South America
• A thorough analysis of the market's competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of 5G services market vendors

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Table Of Contents:

Executive Summary

Market Landscape

• Market ecosystem
• Value chain analysis

Market Sizing

• Market definition
• Market segment analysis
• Market size 2021
• Market outlook: Forecast for 2021 - 2026

Five Forces Analysis

• Bargaining power of buyers
• Bargaining power of suppliers
• Threat of new entrants
• Threat of substitutes
• Threat of rivalry
• Market condition

Market Segmentation by End-user

• Market segments
• Comparison by End-user
• Consumer - Market size and forecast 2021-2026
• Enterprise - Market size and forecast 2021-2026
• Market opportunity by End-user

Customer landscape

Geographic Landscape

• Geographic segmentation
• Geographic comparison
• North America - Market size and forecast 2021-2026
• APAC - Market size and forecast 2021-2026
• Europe - Market size and forecast 2021-2026
• MEA - Market size and forecast 2021-2026
• South America - Market size and forecast 2021-2026
• Key leading countries
• Market opportunity by geography
• Market drivers
• Market challenges
• Market trends

Vendor Landscape

• Landscape disruption

Vendor Analysis

• Vendors covered
• Market positioning of vendors
• AT and T Inc.
• Bharti Airtel Ltd.
• BT Group Plc
• Deutsche Telekom AG
• Nippon Telegraph and Telephone Corp.
• Orange SA
• SK Telecom Co. Ltd.
• Telstra Corp. Ltd.
• Verizon Communications Inc.
• Vodafone Group Plc

Appendix

• Scope of the report
• Currency conversion rates for US$
• Research methodology
• List of abbreviations

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