The global 5G Services market size is projected to grow from USD 121.8 billion in 2023 to USD 1,002.3 billion by 2028 at a Compound Annual Growth Rate (CAGR) of 52.4%. The ascendancy of transformative technologies such as artificial intelligence (AI), augmented reality (AR), and virtual reality (VR) hinges on the foundational support of robust and high-speed connectivity, with 5G emerging as a pivotal enabler. The capabilities of 5G, characterized by significantly enhanced data transfer speeds, low latency, and the ability to connect a massive number of devices simultaneously, play a catalytic role in driving the development and widespread adoption of applications reliant on seamless and responsive connectivity. In the context of AI, 5G facilitates the rapid exchange of large datasets crucial for training sophisticated machine learning models, fostering innovations in predictive analytics and decision-making. For AR and VR applications, 5G's low latency ensures real-time responsiveness, creating immersive and interactive experiences that extend beyond entertainment to encompass fields such as remote training, collaborative workspaces, and virtual simulations. The synergy between 5G and these emerging technologies not only propels technological advancements but also opens avenues for novel applications that have the potential to reshape industries and enhance the way we perceive and interact with the digital world.
Key and innovative vendors in the 5G Services market include AT&T (US), China Mobile (China), SK Telecom (South Korea), Verizon (US), BT Group (UK), Deutsche Telekom (Germany), China Telecom (China), Orange (France), Vodafone (UK), China Unicom (China), Telstra (Australia), Telefonica S.A (Spain), KT Corporation (South Korea), Roger Communications (Canada), Bell Canada (Canada), Etisalat (UAE), Saudi Telecom Company (Saudi Arabia), LG Uplus (South Korea), NTT Docomo (Japan), KDDI (Japan), Telus (Canada), Swisscom (Switzerland), Dish Network (US), Reliance Jio Infocomm (India), Rakuten Group (Japan), MTN Group (South Africa), Bharti Airtel Limited (India), Telenor Group (Norway), JMA Wireless (US), Verana Networks (US), Celona (US), Mangata Networks (US), Airspan Networks (US), Edge Q (US), Omniflow (US), Aarna Networks (US). The market players have adopted various strategies, such as developing advanced products, partnerships, contracts, expansions, and acquisitions to strengthen their 5G Services market position. The organic and inorganic strategies have helped the market players expand globally by providing advanced 5G Services solutions.
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China Mobile is a provider of mobile voice and multimedia services through its nationwide mobile telecommunications network across China, with its operations divided into two core segments. The first segment primarily focuses on providing a wide range of Telecommunication services, including Mobile Business, which offers mobile voice and data services to a vast subscriber base, and Broadband Business, delivering high-speed internet connectivity to households and businesses. Furthermore, the Corporate Business arm caters to the unique communication needs of corporate clients, offering tailored solutions to enhance productivity and efficiency. The second segment encompasses the Sale of Products and Other services, featuring an array of devices and accessories to complement their telecommunication offerings. China provides communications and information services in all 31 provinces, autonomous regions and directly administered municipalities throughout the mainland of China and in Hong Kong, SAR. As of 31 December 2022, China Mobile had a total of 975 million mobile customers and 272 million wireline broadband customers. In terms of the 5G segment, China Mobile combined 5G with AICDE capabilities, to facilitate 5G smart manufacturing, 5G remote medical services, 5G automated mining, and ports. The company is leveraging the 5G network to develop the information and communications services industry further. China Mobile has a geographical presence in North America, Asia Pacific, and Latin America.
SK Telecom, is a South Korean telecommunications and technology company. SK Telecom operates in five distinct business groups that contribute to its comprehensive range of services. In the Fixed/Mobile Communication segment, SK Telecom offers voice and data services to ensure seamless connectivity for both individual consumers and businesses. The Media division extends beyond traditional telecom services by delivering a dynamic mix of content, T-commerce, and advertising, thereby enriching the realms of entertainment and commerce. The Enterprise unit employs cutting-edge technologies, including AI, 5G, and IoT, to enhance productivity and competitiveness. It achieves this by providing advanced solutions in data center management, cloud services, and AIoT applications. The AIVERSE division leverages unique AI technologies to create immersive virtual reality experiences, including subscription services and the development of the metaverse. Positioned as a leading subscription service in Korea, T Universe continually expands its product range and enhances the customer experience. SK Telecom's Connected Intelligence division provides innovative services in Urban Air Mobility (UAM), robotics, and autonomous driving vehicles. These offerings are made possible through the integration of AI technology with a robust network and mobility platform, shaping the future of intelligent mobility solutions. SK Telecom's mobile division has reached over 13 million 5G customers by emphasizing unique strengths, such as having the largest 5G coverage and the fastest speeds in South Korea, with a focus on gaining a competitive edge in the market. SK Telecom has a geographical presence in Asia Pacific.
5G Services Market by Communication Type (eMBB, URLLC, mMTC), End User (Consumers and Enterprises), Application (Industry 4.0, Smart Cities, Smart Buildings), Enterprises (Manufacturing, Telecom, Retail & eCommerce) and Region - Global Forecast to 2028
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