Global 5G services market expected to grow from $53.93B in 2020 to $123.27B by 2025

The global 5G services market is expected 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 rising demand for reliable and ultra-low latency connectivity services, increasing use of connected Internet of Things (IoT) devices, and growing data traffic are some of the factors expected to drive the 5G services market. However, the deployment cost of network services may restrain the growth of the 5G services market.The broadband vertical to hold the largest market share during the forecast periodThe broadband vertical is expected to have the largest market share in the 5G Services market by 2025.The 5G Fixed Wireless Access (FWA) application would disrupt the broadband ecosystem, as companies have started deploying it on a trial basis in several cities.For instance, Verizon Wireless announced its plans to launch 5G FWA for a group of its residential customers in California, US.The enhanced Mobile Broadband (eMBB) segment to hold the largest market share during the forecast periodThe eMBB segment is expected to hold the largest market share during the forecast period. eMBB is initially considered as an extension to 4G services, and would be commercialized by late 2018 or early 2019. Therefore, due to the early adoption of this application, it is expected to hold the largest market share during the forecast period.North America to grow at the highest CAGR during the forecast periodIn terms of growth rate, North America is expected to grow at the fastest growth rate, due to its dominance via sustainable and well-established economies, which enable it to invest heavily in Research and Development (R&D) activities. Owing to the rising adoption of new technologies, such as IoT and smart cities, and increasing need for high-speed internet connectivity, telecom service providers have started trials and tests for 5G services.In-depth interviews were conducted with Chief Executive Officers (CEOs), marketing directors, innovation and technology directors, and executives from various key organizations operating in the 5G Services market.The break-up of the profiles of the primary participants is given below:• By Company: Tier 1 – 25%, Tier 2 – 35%, and Tier 3 – 40%• By Designation: C-Level – 45%, Director Level – 51%, and Others – 4%• By Region: North America – 39%, Europe – 25%, APAC – 30%, and Rest of the World (RoW) – 6%