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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Asia Pacific to Account for a Significant Market Share of 5G Services During the Forecast Period
The surging adoption of new technologies coupled with enhanced mobile broadband services and surging usage of IoT are driving the market growth of 5G services in the Asia Pacific region. The 5G wireless networks tend to influence consumers as well as segments such as automobiles, manufacturing, and IoT. Additionally, operators such as China Telecom are expected to produce a strong ecosystem of cloud, AI, and 5G which is likely to bolster the market growth of 5G in the region.
In the era of 5G technologies, Asia Pacific is likely to be the leading 5G services market and is expected to hold half of 5G subscriptions globally over the upcoming years. Governments are supporting early adoption of 5G, and manufacturers are investing aggressively in 5G network infrastructure in countries like China, Japan, and South Korea. Going further, the growing digitalisation and rising emphasis on building partnerships through 5G system integration are expected to augment the adoption of 5G services.
5G Services Market Report Snapshots
5G Services Market Regional Analysis
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2023, the global market attained a value of nearly USD 110.58 billion.
The market is assessed to grow at a CAGR of 49.6% between 2024 and 2032.
The key market trends guiding the growth of the market include the growing adoption of IoT, evolving technology, and the launch of diversified 5G services by market players.
The major market drivers are increasing working populations, growing digitalisation, rapid urbanisation, changing lifestyles, and innovative marketing strategies by branded market players.
The major regions in the market are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The various end-use industries that are available in the market include IT and telecom, media and entertainment, automotive, energy and utility, and aerospace and defense, among others.
The major players in the market are Nokia Corporation, Huawei Technologies Co Ltd., AT&T Inc., Deutsche Telekom AG, Telefonaktiebolaget LM Ericsson, and Vodafone Group, among others.
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