The fifth generation of cellular mobile communications, 5G promises to succeed 4G in terms of speed and use cases including extreme high bandwidth, high-density connection, and ultra-low latency. Currently, the global 5G service market is contemplated to be worth USD 21.53 Bn and is envisioned to reach approximately USD 85.84 Bn by the end of 2023. Market Research Future (MRFR) projects the global 5G service market to expand exponentially with a CAGR of 31.9% over the forecast period which ends in 2023.

1. Global 5G Service Market - Overview
The global 5G Service Market is growing pervasively. Market growth attributes to the surging
demand for reliable and ultra-latent connectivity services. Besides, the demand for high data
speed and connectivity to revolutionize business models drives the growth of the market.
Various megatrends of mobile services are affecting the global 5G service market. 5G
connections with extremely high bandwidth are required for the seamless performance of IoT
devices.
Moreover, rapid developments in IoT (Internet of Things) escalate market growth. According
to Market Research Future (MRFR), the global 5G services market is projected to create a
valuation of approximately USD 85.84 BN by the end of 2023, growing at 31.9% CAGR
throughout the assessment period (2017 – 2023). The demand for expanded access to the
unprecedented performance of 5G ultra wideband services is growing rapidly.
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Also, advances in 5G technology with game-changing speeds and nationwide 5G coverage
substantiate market sales. Additionally, the shift in consumer preference from premise-based
to cloud-based solutions positively impacts the growth of the global 5G service market.
Increasing deployments of smart connected devices without the issues of latency push the
market growth. Rising smart city projects worldwide propel the demand for 5G services.
Global 5G Service Market - Segments
The report is segmented into five dynamics;
By Service Type : Professional Services (System Integration,
Network Planning & Optimization, Network Implementation, others) and Managed Services.
By Communication Type : Extreme Mobile Broadband (EMBb), Massive Machine-Type
Communications (mMTC), Ultra-Reliable Machine-Type Communications (uMTC), Fixed
Wireless Access (FWA), and others.
By Technology : Wi-Fi, High-Speed Package Access (HSPA),
Radio Access Technologies (RAT), Worldwide Interoperability for Microwave Access
(WiMAX), Global System for Mobile (GSM), and others.
By Vertical : Energy & Utilities, Automotive, Healthcare, IT
& Telecommunication, Consumer Electronics, Industrial, Retail, and others.
By Regions : Europe, Americas, PAC, and Rest of the World.
Global 5G Service Market: Regional Analysis
North America dominates the global 5G service market. The region has been an early adapter
of the 5G service network. The largest market share attributes to the presence of several notable
5G service providers rolling out 5G services much ahead of operators in other regions. The US,
Canada, and Mexico hold considerable shares in the regional market. Besides, various telecom

2. companies in the region and the rising uptake of the latest technologies, such as IoT,
substantiate market growth.
Also, increasing smart city projects in the region boost market growth, promoting high-speed
network performance requirements. Increasing numbers of subscribers and assessment of the
allocation of 5G frequencies by the Federal Communications Commission (FCC) create
substantial market demand. Moreover, the rise in application areas of 5G services in
telecommunications fosters the market in this region. The US accounts for the key share in the
regional market.
Europe stands second in the global 5G service market. This market is flourishing mainly due
to the proliferation of smartphones and the resurging economy in the region. Rigorous R & D
activities in the region and ongoing customer trials in countries such as the UK, Germany, and
France positively contribute to market growth. Additionally, growing investments in the 5G
service industry foster the growth of the regional market. Also, the presence of prominent
players and their R & D investments propel the development of the market to an extent.
The Asia Pacific region is a promising market for 5G services. Increasing focus on improving
connectivity and high investment in R&D activities in the region catalyze the growth of the 5G
service market. Factors such as technical expertise, the strong presence of key players, and
increased industrialization in the region boost the market growth.
Moreover, the rising demand for 5G services in emerging countries such as China, Taiwan, and
India propels the growth of the regional market. Along with the ongoing initiatives and
developments in 5G service, the large consumer base acts as a tailwind for the regional market
growth.
Global 5G Service Market – Competitive Analysis
Highly competitive, the global 5G service market appears fragmented due to the presence of a
number of major service providers. To gain a substantially larger market share, 5G Service
providers adopt strategies such as mergers & acquisitions, collaboration, expansion, and
product & service launch. Service providers make substantial investments in transforming the
consumer and business landscape in the future.
Major Players:
Players leading the global 5G Service market include Samsung Electronics Co. Ltd., SK
Telecom, LG Electronics Inc., Verizon Communications Inc., Cisco Systems Inc., Qualcomm
Inc., Telefonaktiebolaget L. M. Ericsson, Saudi Telecom Company, Intel Corporation, BT
Group, China Mobile, Huawei Investment & Holding Co. Ltd., Nokia Corporation, T-Mobile
USA Inc., Telstra, NEC Corporation, DU, China Telecom, KT Corporation, Airtel, Sprint,
Vodafone Group, Deutsche Telekom, and AT&T Inc.
Industry/ Innovation/ Related News:
October 19, 2020 ---- FreedomFi, an open 5G company offering the most straightforward path
towards open-source Private LTE or 5G networks, launched the first open-source 5G network
appliance enabling vendor-agnostic, private LTE or 5G networks. Cellular LTE networks offer
superior range, reliability, and security over Wi-Fi.

3. However, it requires proprietary hardware from incumbent network equipment manufacturers,
making them too expensive to build and maintain if deployed at a medium or small scale. Using
Magma open-source software project, FreedomFi Gateway enables anyone to build low cost
private, long-range, reliable, and secure networks.
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