Lucintel Forecasts 5G Service Market to Reach $XX Billion by 2028

According to the recent study the 5G service market is projected to reach an estimated $XX billion by 2028 from $XX billion in 2023, at a CAGR of 44% to 66% from 2023 to 2028. Growth in this market is primarily driven by growing demand for high-speed data connectivity, rising integration of 5G service with the internet of things, and increasing adoption of mobile broadband services.

Browse XX figures / charts and XX tables in this 150 -page report to understand trends, opportunities and forecast in 5G service market by communication type (FWA, eMBB, uRLLC, and mMTC), end use industry (consumers and enterprises), and region (North America, Europe, Asia Pacific, and the Rest of the World).

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“EMBB market is expected to remain the largest segment during the forecast period.”

Based on communication type, the 5G service market is segmented into FWA, eMBB, uRLLC, and mMTC. Lucintel forecasts that the eMBB market is expected to remain the largest segment due to the growing need to ensure uninterrupted connectivity for all IoT devices and increasing use of eMBB in 4K video access and in-vehicle infotainment.

“Within the 5G service market, the enterprises segment is expected to remain the largest end use industry”

Based on end use industry the enterprises segment is expected to witness the highest growth over the forecast period due to the growing demand for higher data speeds from governments, manufacturing, and residential industries and growing need for enhanced broadband capacity for virtual business.

“Asia pacific will dominate the 5G service market in near future”

APAC will remain the largest region due to the increasing demand for smartphones supporting higher data speeds, growing penetration of internet, and growing adoption of innovative technologies by the market players in the region.

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Major players of 5G service market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. AT&T, China Mobile, SK Telecom, Verizon, BT Group, Deutsche Telekom, and T-Mobile are among the major 5G service providers.

This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link or [email protected]

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