The global 5G service market revenue is expected to expand at a lucrative CAGR over the forecast period. Increasing demand for reliable and high speed technologies across various industries is a major factor expected to drive growth of the global market over the forecast period.

The global 5G service market report has been segmented on the basis of application, vertical, and region. On the basis of application, the target market is segmented into mMTC and URLLC, eMBB, and FWA. The FWA application segment is expected to register significant share in terms of revenue over the forecast period owing to its remote coverage area and high-speed service offerings. On the basis of vertical, the target market is segmented into energy and utility, automotive, healthcare, retail, consumer electronics, intelligent building and infrastructure, public safety and surveillance, and others (educational institutes, agriculture, and data centers). The automotive application segment is expected to register significant share in terms of revenue over the forecast period, owing to technological advancements in automotive industry.

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Based on the region the target market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The market in North America is estimated to be highest share in terms of revenue over the forecast period, owing to rising adoption of innovative technologies and services in various countries in this region. The market in Asia Pacific is expected to register significant growth in terms of revenue over the forecast period, owing to rapidly growing service industry and increasing consumer’s preference towards advance technologies in various countries in this region.

Key players operating in the global 5G service market include Cisco systems Inc., Samsung Electronics Co Ltd., Ericsson Inc., QUALCOMM Incorporated, Intel Corporation, Verizon Communications Inc., AT&T Inc., SK Telecom Co., Ltd., NEC Corporation, and Nokia Corporation

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