New York, NY -- (SBWIRE) -- 01/19/2021 -- 5G remote portable services are estimated to empower global market and is estimated to offer wide usage and several business models. Increasing interest for rapid internet services and robust adoption of technologies depending on it such as Internet of things (IoT) applications, smart home appliances is assessed to drive growth of 5G services during the foreseeable future. The 5G services market is foreseeable to exhibit a CAGR of 15% through the forecast period, to reach USD 184 billion in 2027.

Key participants include Cisco Systems (US), Samsung Electronics (South Korea), AT&T (US), Verizon (US), SK Telecom (South Korea), BT Group (UK), China Telecom (China), Telstra (Australia), Airtel (India), Vodafone (UK), and KT Corporation (South Korea).

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Market Drivers

Numerous industry verticals are zeroing in on innovative changes to improve their operational productivity as the system is likely to support exceptionally in the competitive environment. The 5G wireless technologies innovation holds the possibility to help in acknowledging amazing changes across every one of these verticals through decreases in generally expenses and improvement in profitability. Proceeded with accentuation on improving energy observing and the executives just as overseeing the energy age and circulation network is expected to provide traction to the 5G services over the estimate time frame.

For the purpose of this report, Reports and Data have segmented global 5G services market on the basis of industry verticals, application, and region:

Industry Verticals Outlook (Revenue, USD Million; 2018-2026)

Smart Cities
Smart Industrial plants
Smart Automobiles
Smart Medical Services
Smart Retail Stores
Smart Services
High-Speed Internet
Others

Application Outlook (Revenue, USD Million; 2018-2026)

mMTC
URLLC
eMBB
FWA

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Regional Outlook

North America is estimated to dominate 5G services market by holding largest share in the market. This growth is attributable to growing demand for high speed internet, which is encouraging adoption of 5G framework in the region. However, the market in Asia Pacific is estimated to exhibit fastest growth over the forecast period. This growth is attributable to expansion and penetration of the internet services across transportation and logistics, media and diversion, medical care, and manufacturing.

Further key findings from the report suggest

Smart cities are forecasted to have the highest CAGR of 15.1% during the forecast period. According to the Ministry of Urban and Housing Affairs, Government of India, to date there are 800 projects are at various stages of implementation, 115 projects have commenced, 185 projects are tendered, and 59 cities have incorporated SPVs for swift, transparent, and accountable execution of smart city projects.

Fixed wireless access (FWA) is anticipated to witness the highest growth rate of 15.2% during the forecast period owing to the offering of various benefits such as high speed and latency free connectivity, smooth coverage in remotely located regions along with lessening in costs incurred by reducing last mile connectivity concerns.

North America is anticipated to be one of the key revenue generating region and is forecasted to have a growth rate of 14.8% during the forecast period owing to rapid acceptance and usage of the latest technology, like IoT, the necessity of high connectivity services for smoother communication facilities, etc. in this region…Continued

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