The fifth generation of cellular technology, 5G, will offer much more than faster phones. Its first phase, scheduled to begin in 2019, will improve smartphone responsiveness. Soon after, 5G may also start to enhance many other aspects of your daily life, from automotive safety to your entertainment and your view of reality.
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.
The Global 5G Services aMrket 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% during 2020-2025.
The major factors expected to drive the 5G services market growth are the rising demand for reliable and ultra-low latency connectivity services and increasing use of connected IoT devices.
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The Fixed Wireless Access (FWA) segment to grow at the highest CAGR
The FWA segment is expected to grow at the highest CAGR, owing to its remote area coverage and high-speed latent free service offerings, followed by reduced last mile connectivity expenditure, the application would be deployed by a large number of commercial as well as consumer users.
A DREAM COMMUTE – The connected vehicles vertical grow at the fastest growth rate ober 2020-2025
The connected vehicles vertical is expected to grow at the highest CAGR, owing to the advent of autonomous vehicles. Autonomous vehicles are still in the Research and Development (R&D) phase; however, they would be available for use in the near future. The telecom and automotive players formed a 5G Automotive Association to develop, test, and promote communication solutions. The objective of the 5G Automotive Association is to implement 5G connectivity for the next generation connected cars.
North America is expected to hold the largest market share in the 5G services market. – Various factors are expected to contribute to the growth of the 5G services market across the region. The factors include the ongoing developments to lay 5G infrastructure across the remaining states of the US and increasing contribution of telcos in North America.
Countries that would launch 5G services include the US, UK, China, South Korea, Japan, and Germany. The countries with strong 4G infrastructure would be the early deplorers. The countries with agile connectivity platforms would quickly transform their services into 5G, probably by the first quarter of 2020.
