![Global 5G Services Market](https://res.cloudinary.com/devmoveo/image/upload/v1708077729/skyquest/report/phpeiHpuc.jpg)
Report ID: SQMIG50C2026
Report ID:
SQMIG50C2026 |
Region:
Global |
Published Date: July, 2024
Pages:
162
|
Tables:
107 |
Figures:
76
Global 5G Services Market size was valued at USD 73.13 Billion in 2022 and is poised to grow from USD 98 Billion in 2023 to USD 1018.68 Billion by 2031, at a CAGR of 34% over the forecast period (2024–2031).
The 5G services market is witnessing remarkable growth owing to the growing demand for reliable and faster internet speeds to aid gaming, streaming, and other applications. Moreover, the market is propelled by major progress by IoT, comprising smart technologies and connected devices like industrial automation, smart homes, and smart cities that demand low latency of 5G and greater bandwidth. Nonetheless, this market growth may be hindered by infrastructure limitations and technological complexity. Constructing the essential infrastructure like dense networks of smaller cells might be intricate in locations with logistical or physical constraints, hampering market growth. Moreover, the complexity of 5G with the current networks needs major expertise and could pose deployment challenges. Yet, the market is opportune to expansion in novel applications and significant growth of Internet of Things.
US 5G Services Market is poised to grow at a sustainable CAGR for the next forecast year.
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Report ID: SQMIG50C2026