Verizon and China Mobile are leading players in 5G Services Market
5G or fifth generation is the next generation mobile technology that is designed particularly to increase the speed and responsiveness of wireless networks. The 5G technology would deliver data with ultra-high low latency i.e., less than 1 millisecond of delay. Furthermore, it would provide the maximum download speed of 20 gigabits per second. It would be a key enabler for Internet of Things (IoT), which would provide a platform to connect a large number of sensors, devices, and actuators with strict energy and transmission constraints for connected devices. MarketsandMarkets expects the 5G services market to grow from USD 53.93 billion in 2020 to USD 123.27 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 18.0% during the forecast period.
The traditional and emerging market players in the 5G services market include AT&T (US), Airtel (India), BT Group (UK), China Mobile (China), China Telecom (China), Deutsche Telecom (Germany), du (UAE), Korea Telecom (Korea), Sprint (US), Saudi Telecom Company (Saudi Arabia), SK Telecom (South Korea), Telstra (Australia), Vodafone (UK), and Verizon (US). These players have adopted various strategies, such as partnerships, collaborations, agreements, acquisitions, and new product launches, to achieve growth in the global 5G services market.
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Verizon is one of the key vendors that primarily contributes to the development of 5G services, and has a strong market presence. The company is also expanding its business across cities in the US and partnering with major companies to stay ahead in the 5G competition. For instance, in August 2018, Verizon partnered with Motorola to launch the US’ first 5G compatible smart phone Moto Z3. This phone would support current 3G, 4G LTE, and the upcoming Verizon’s 5G network.
China Mobile is one of the market leaders in the 5G services market. The company has adopted growth strategies that include conducting 5G trials, partnering with major companies, and signing agreements with key players. For instance, in August 2018, China Mobile completed 5G trials by connecting non-5G devices and computers to its Wi-Fi hotspots via customer premises equipment. These trials attained the speed of 14Gbps using mmWave spectrum.
Related Reports:
5G Services Market by Vertical (Smart Cities, Connected Vehicles, Connected Factories, Smart Buildings, Smart Utilities, Connected Healthcare, and Broadband Services), Application (eMBB, MMTC and URLLC, and FWA), and Region - Global Forecast to 2025
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