5G Services: Introduction

  • 5G is the fifth generation of mobile networks. It is a new worldwide wireless standard after 4G. It is expected to be one of the fastest and strongest technologies ever seen in the world.
  • A 5G network is specially designed to reduce latency, increase speed, and improve the flexibility of the wireless network.
  • 5G services help to improve the performance of business applications and other digital applications such as online gaming, video conferencing, and self-driving cars, due to low latency.
  • The 5G services network is virtualized and software-driven, leveraging cloud technologies. 5G services also make mobility easier with open and transparent roaming abilities between cellular access and Wi-Fi.
  • The new 5G services will also have a densely distributed access architecture and allow user to enable faster data processing.
  • 5G services are expected to significantly increase the amount of data transmitted by the wireless system through wider bandwidth and state-of-the-art antenna technology.
  • 5G services have higher frequencies and enhanced mobile broadband, and the 5G mobile network has the potential to be made up of low band, mid-band, and MM wave frequency.
  • The global 5G services market is expected to grow during the forecast period due to rapid innovation in network visualization and increasing number of applications that require a latent-free connection.
5g services market size and forecast

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Global 5G Services Market: Key Drivers

  • Industries such as healthcare, retail, IT, telecom, media & entertainment, automotive, BFSI, and agriculture, have several types of service requirements including low power, high bandwidth, high speed, and ultra-low latency. Hence, 5G service adoption is increasing due to the increase in adoption of mobile broadband services, which would result in the growth of the 5G services market.
  • Growing adoption of IoT, demand for high-speed networks, and continued progress of machine-to-machine communication networks are transforming diverse vertical sectors by connecting all types of devices, systems, services, and appliances. Hence, the global 5G services market is set to grow during the forecast period.
  • The global 5G services market is also expected to grow during the forecast period due to increasing focus on safety and an improved driving experience with connected vehicles.
  • In addition, the focus on providing reliable and robust communications during natural disasters such as earthquakes, floods, and hurricanes, is also estimated to boost the uptake of 5G services.
  • However, the high cost of deployment of a 5G network restrains the global 5G services market.

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