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5G Services Market Trends

Report ID: GMI6531
Published Date: Jul 2024
Report Format: PDF

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5G Services Market Trends

The increasing demand for enterprise-grade extended reality (XR) solutions, encompassing virtual reality (VR) and augmented reality (AR), is a strong driver of the 5G services industry. These immersive technologies require ultra-low latency and high data speeds for real-time interactions and seamless experiences. As industries adopt XR for remote training, product design, and collaborative work, the capabilities of 5G networks become essential. This growing need for reliable and high-performance connectivity is propelling the expansion of 5G services to meet the demands of the XR ecosystem.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of 5G services reached USD 98.9 billion in 2023 and is set to observe 31% CAGR from 2023 to 2032, backed by the demand for high data speeds and capacity.

The enterprises segment held a market share of around 32% in 2022, due to the increasing reliance of organizations on data-intensive applications.

Asia Pacific market with a major revenue share of around 37% in 2023. As a region with a large and diverse population, the demand for enhanced connectivity and data-intensive applications is surging, favoring the industry growth.

AT&T, Inc., BT Group plc, China Mobile Ltd., China Telecom Corporation Ltd., Bharti Airtel Ltd., NTT Docomo, KT Corp., Saudi Telecom Company, Vodafone Group, Deutsche Telekom AG, and SK Telecom Co., Ltd.