M2M Satellite Communication Market Strategy and Remarkable Growth Rate By 2030

The global M2M Satellite Communication Market size is estimated to grow from USD 15.5 billion in 2023 to USD 28.7 billion in 2028, at a CAGR of 13.1% during the forecast period, according to a new report by MarketsandMarkets™. The M2M satellite communication market revolves around the use of satellite networks to facilitate seamless communication between machines and devices globally. It enables remote connectivity across diverse industries, offering robust, reliable, and often real-time data transfer for applications in areas where traditional terrestrial networks may be limited or unavailable. This market segment continues to grow due to its ability to support IoT, remote monitoring, asset tracking, and other critical operations in challenging environments.

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M2M Satellite Communication Market Dynamics:

Drivers:

1. Escalating need for enriched data communication.
2. Surge in IoT proliferation
3. Growing demand for monitoring and remote management of connected devices

Restraints:

1. Limited bandwidth and latency issues.
2. Cost constraints hindering widespread adoption of M2M satellite communications

Opportunities:

1. Co-existence of satellite and terrestrial communications solutions.
2. Global connectivity in remote areas

List of Key Players in M2M Satellite Communication Market:

·         Marlink (France)

·         Viasat (US)

·         Thales (France)

·         ORBCOMM (US)

·         Iridium Communications (US)

·         Globalstar (US)

·         Orange (France)

·         EchoStar (US)

·         Intelsat (US)

·         Rogers Communications (Canada)

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By offering the services segment to account for higher CAGR during the forecast period.

The M2M satellite communication market offers a diverse array of services tailored to connect and manage devices across industries. Data services facilitate seamless information exchange between remote devices, enabling real-time monitoring and control. Voice services provide instant communication in areas with limited terrestrial networks, ensuring reliable voice connectivity. Satellite services, including telemetry and remote monitoring, leverage satellite networks for global coverage, enabling effective asset tracking and environmental monitoring. Security services address the need for robust data protection and secure communication, safeguarding sensitive information. Business services encompass consultancy, project management, and ongoing support, ensuring organizations derive maximum value from their M2M deployments.

By Technology, Satellite Constellation is expected to hold the largest market size for the year 2023.

Satellite constellations provide extensive coverage and enhance the reliability of communication services. M2M communication involves the exchange of data between devices or systems without human intervention, and satellite constellations contribute to this by ensuring global connectivity. One notable example is the deployment of Low Earth Orbit (LEO) satellite constellations, where multiple small satellites operate in synchronized orbits at relatively low altitudes. The interconnected nature of these constellations facilitates seamless communication between devices across various industries, including agriculture, transportation, and environmental monitoring.

The energy and utilities vertical is projected to grow at the highest CAGR during the forecast period.

With energy assets dispersed across remote and often challenging environments, M2M satellite communication offers a robust solution for real-time data transmission and control. Satellite communication technology allows for the seamless connectivity of devices such as sensors, smart meters, and monitoring equipment, enabling utilities to remotely manage and optimize their energy distribution networks. This is particularly crucial for power grid operations, where M2M solutions ensure continuous data flow, aiding in fault detection, grid stability management, and response to dynamic energy demands.

Europe is expected to hold the second-largest market size for the estimated year.

The M2M satellite communication market in Europe is characterized by the collaborative efforts of major countries such as Germany, France, Italy, Spain, and others. Germany, with its robust space industry, leads in secure satellite communications with programs like SPAINSAT NG, showcasing advancements in military capabilities. France, through initiatives like the Syracuse 4B military satellite and collaboration with India on satellite constellations, emphasizes innovation and international partnerships. Italy, with the COSMO-SkyMed constellation and SICRAL 3 secure communications system, plays a significant role in Earth observation and defense communication. Other European countries, including The Netherlands, Switzerland, and Sweden, contribute expertise in areas like Earth observation, precision engineering, and scientific research, enhancing the overall landscape of M2M satellite communication.

The major M2M satellite communication hardware, software and service providers include Marlink (France), Viasat (US), Thales (France), ORBCOMM (US), Iridium Communications (US), Globalstar (US), Orange (France), EchoStar (US), Intelsat (US), Rogers Communications (Canada), SES (Luxembourg), Gilat (Israel), Telia (Sweden), Kore Wireless (US), Honeywell (US), Qualcomm (US), Telesat (Canada), Wireless Logic (England), Outerlink Global Solutions (US), Nupoint Systems (Canada), Businesscom Networks (US), Semtech (US), Yahsat (UAE). These companies have used both organic and inorganic growth strategies such as product launches, acquisitions, and partnerships to strengthen their position in the M2M satellite communication market.

About MarketsandMarkets™

MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

 

Contact:
Mr. Rohan Salgarkar
MarketsandMarkets™ INC.

630 Dundee Road

Suite 430

Northbrook, IL 60062

USA: +1-888-600-6441

Email: sales@marketsandmarkets.com

Smart Buildings Market 2024: Global Trends, Type, Size, Application, Drivers And Trends By Forecast 2030

The global Smart Buildings Market size is expected to grow from USD 72.6 billion in 2021 to USD 121.6 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 10.9% during the forecast period, according to a new report by MarketsandMarkets™. The major drivers for the Smart building include the rising adoption of IoT-enabled building management system, rising awareness of space utilization, increased industry standards and regulations, and increase demand for energy-efficient system.

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Smart Buildings Market Dynamics:

Drivers:

1. Rise in adoption of IoT-enabled BMS.
2. Increase in awareness of space utilization
3. Increase in industry standards and regulations
4. Increased demand for energy-efficient systems

Restraints:

1. Lack of cooperation among standard bodies.
2. High cost of implementation

Opportunities:

1. Emergence of the 5G technology.
2. Rise in the smart city trend
3. Government initiatives and incentives

List of Key Players in Smart Buildings Market:

• 75F (US)
• ABB (Switzerland)
• Aquicore (US)
• Bosch (US)
• BuildingIQ (US)
• Cisco (US)
• CopperTree Analytics (Canada)
• ENTOUCH (US)
• Hitachi (Japan)
• Honeywell (US)
• Huawei (China)
• IBM (US)
• Igor (US)

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The safety and security management solution in the solution type segment is expected to lead the Smart buildings market in 2021.

Security is an integral part of smart buildings. Smart buildings enable occupant safety and security with the help of security solutions integrated with the smart building system. These buildings help in emergency preparedness and management, wherein benefits from new technologies and their integration via advanced wireless networks supporting deployed sensors and IoT are easily achieved. Access control and video surveillance system help track every activity across a facility. This helps to detect intruders and keep the environment safe. The rising deployment of advanced access control systems, video surveillance systems, and fire and life safety systems to safeguard the occupant and assets is contributing to the high market share if this segment.

Industrial building segment is expected to grow with the fastest growth rate during the forecast period.

Industrial buildings are often large and have many moving parts. Smart industrial building solutions automate building temperature control, security, and maintenance for more efficient property management through various mobile computing devices, such as mobile devices and computers. The segment is expected to adopt smart building solutions to achieve energy and cost savings, higher productivity, enhanced identity and access management, and optimized surveillance. Manufacturing and industrial buildings have their own set of requirements for different manufacturing processes and storage purposes.

North America to lead the Smart buildings market during the forecast period.

The growth of the market in North America can be attributed to the region has witnessed the emergence of latest smart building solutions that leverage new technologies, such as IoT, big data, cloud computing, data analytics, deep learning, and artificial intelligence, for saving energy, reducing operational expenditures, increasing occupancy comfort, and meeting increasingly stringent global regulations and sustainability standards. Moreover, North America is a technologically advanced region in the world due to the rapid adoption of emerging technologies by the organizations in the region. Furthermore, the US and Canada are prominent countries contributing to technological development in this region; for instance, US organizations are heavily investing into smart building measures, such as building controls and building systems integration, to leverage energy efficiency and energy storage and deliver smarter, safer, and more sustainable buildings while the Canadian government is taking initiatives to support Canadas commitment to protecting the environment and its resources by making federal buildings more energy-efficient and reducing greenhouse gas emissions, driving the growth of smart buildings.

Market Players

The major vendors covered in the Smart buildings market include 75F (US), ABB (Switzerland), Aquicore (US), Bosch (US), BuildingIQ (US), Cisco (US), CopperTree Analytics (Canada), ENTOUCH (US), Hitachi (Japan), Honeywell (US), Huawei (China), IBM (US), Igor (US), Intel (US), Johnson Controls (Ireland), KMC Controls (US), Legrand (France), Mode:Green (US), PTC (US), Schneider Electric (Germany), Siemens (Germany), Softdel (US), Spaceti (Czechia), Telit (UK), and Verdigris Technologies (US), Spacewell (Belgium), Gaia (India), eFacility (India).

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About MarketsandMarkets™

MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

Contact:
Mr. Rohan Salgarkar
MarketsandMarkets™ INC.

630 Dundee Road

Suite 430

Northbrook, IL 60062

USA: +1-888-600-6441

Email: sales@marketsandmarkets.com

Zero Trust Security Market Size, | Industry Growth, Upcoming Trends And Forecast Upto 2030

The global Zero Trust Security Market size is projected to grow from USD 36.5 billion in 2024 to USD 78.7 billion by 2029 at a compound annual growth rate (CAGR) of 16.6% during the forecast period, according to a new report by MarketsandMarkets™. Zero Trust Security is a contemporary cybersecurity framework that transforms how organizations think about security by following the principle of “never trust, always verify.” This implies that no user or device is automatically trusted, irrespective of their place in relation to the network perimeter.

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Its main ideas involve explicitly verifying every access request using every piece of information available, including user identity, device health, and location. Access to the minimum required is limited through Just-In-Time (JIT) and Just-Enough-Access (JEA) policies.

List of Key Players in Zero Trust Security Market:

• Palo Alto Networks(US)
• VMware(US)
• Zscaler(US)
• Akamai(US)
• Microsoft(US)
• Cisco(US)
• IBM(US)
• Qnext(US)
• Citrix(US)
• Checkpoint(Isreal)

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Organizations assume that breaches might have occurred already, which leads to strategies aimed at minimizing their impact, such as segmenting access and ensuring end-to-end encryption. Zero Trust was created as an answer to traditional perimeter-based models’ weaknesses, which normally assumed that internal users were safe. Because they are often based on legacy systems, it may be complicated for legacy systems to adopt zero trust; thus, adoption should begin with strong identity verification before moving on. These include improved security, less attack surface, and better compliance benefits. Also, more organizations can adopt it because of the increase in the increase in remote working and cloud services, which makes it vital for zero trust adoption.

By Offering, the services segment will grow at the highest CAGR during the forecast period.

A number of factors are accelerating the growth of the zero-trust security market through the services segment. Deployment of zero-trust security is a sophisticated architectural change for which niche skills are required, which most organizations may not have within their in-house teams. This is where service providers fill that gap by helping an organization make such a transition. Growth has been driven by this demand for managed security services due to the fact that zero trust requires everything to be monitored and managed, which MSS providers deliver on through 24/7 support. Consulting services are needed to drive end-to-end zero-trust strategies that arm organizations with proper advisory capabilities in the areas of risk assessment, policy development, and technology selection. It caters to zero-trust solution integration and customization services, while risk assessment and compliance services manage associated ongoing risks and assure the required adherence. Besides, the training and awareness programs conducted by the service provider will help employees gain knowledge about zero-trust principles and ensure their proper implementation. Hence, complex zero-trust security coupled with a requirement for specialized expertise has generated strong demand for such services and hence driven market growth.

By Authentication Type, the multi-factor authentication segment will grow at a highest market size during the forecast period.

Multi-Factor Authentication (MFA) is in fact the underpinning access security mechanism for zero trust security that tops the market for multiple reasons. It really multiplies protection by being very difficult for an unauthorized person, as one needs to pass through multiple checks. Many of the on-boarded, high-value pieces of information include regulations such as GDPR, CCPA, and HIPAA necessitating the use MFA for protecting sensitive information. Cyberattacks based on stolen credentials could be easily mitigated by MFA. There are not a lot of available results highlighting the effectiveness preventing it. That works across a wide range of systems and applications, so it can be a one-stop shop to cater to all access scenarios where digital resources are involved, driven by the need for better controls altogether. But resistance often comes from change, but then everybody relies on access-externalized (i.e., names, addresses, and PINs/passwords) secrecy. Many more now put names and addresses and personal photos and videos in public-facing books globally shared with scores or hundreds of app publishers wanting you to access their apps' features in the car-sharing economy, representing minimal shares from trillion-dollar businesses. Access technologies and technologies have miserably failed the long-awaited common-sense test, and only IDaaS guarantees decision-based real-time enforcement and dynamic secure real-time integration within the scope of the ecosystem infrastructure security architecture.

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By region, Asia Pacific will grow at the highest CAGR during the forecast period.

The Asia Pacific is poised to grow at the highest CAGR in the zero-trust security market during the forecast timeframe. Growing cyber threats in countries including China, India, and Japan are supporting regional growth. For instance, in May 2017, the entire production networks of several Taiwan-based companies were disrupted owing to a massive ransomware attack named WannaCry. The region has witnessed an upsurge in cases of data breaches, causing a high demand for secure solutions. The rapid digital transformation in growing economies, including India and China, has led to increased vulnerability for attackers demanding a strong security posture. Moreover, stringent regulations on data privacy enforced by government bodies such as the PDPA of Singapore and the Privacy Act of Australia are compelling organizations to adopt zero-trust frameworks, ensuring compliance.

About MarketsandMarkets™

MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

Contact:
Mr. Rohan Salgarkar
MarketsandMarkets™ INC.

630 Dundee Road

Suite 430

Northbrook, IL 60062

USA: +1-888-600-6441

Email: sales@marketsandmarkets.com

5G NTN Market To 2030 | Upcoming Trends And Opportunities In Report And Forecast

The global 5G NTN Market is expected to reach USD 31.7 billion by 2029 from USD 7.2 billion in 2024, at a Compound Annual Growth Rate (CAGR) of 34.7% during 2024–2029, according to a new report by MarketsandMarkets™. The 5G NTN market is taking flight due to its ability to revolutionize global connectivity. Unlike traditional networks with limited reach, 5G NTN offers seamless, high-speed connections across borders. This translates to smooth communication for travelers, eliminates roaming worries, and empowers businesses to collaborate globally. This enhanced global connectivity fosters global trade, boosts tourism, and facilitates collaboration amongst multinational corporations, driving significant growth in the 5G NTN market.

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5G NTN Market Dynamics:

Drivers:

1. Adoption of software-centric approach.
2. Need to address extreme coverage extension
3. 3GPP evolution toward NTN interworking and integration
4. Growing demand for IoT

Restraints:

1. Need for radio components to be grounded.
2. Regulatory constraints

Opportunities:

1. Impact of NR-NTN integration on 5G connectivity.
2. Need for NTN in evolution toward 5G and 6G
3. 5G NB-IoT NTN to contribute to global high speed

List of Key Players in 5G NTN Market:

·         Qualcomm Technologies Inc (US)

·         SoftBank Group Corporation (Japan)

·         Thales Group (France)

·         Keysight Technologies

·         Inc (US)

·         MediaTek Inc. (Taiwan)

·         SES S.A. (Luxembourg)

·         EchoStar Corporation (US)

·         SpaceX (US)

·         AST SpaceMobile (US)

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“Based on application, the eMBB segment to hold the largest market size during the forecast period.”

The eMBB segment within the 5G NTN market is characterized by its ability to deliver significantly higher data rates and capacity than previous generations. This advancement enables seamless ultra-high-definition video streaming, immersive virtual reality experiences, and large file transfers in remote or underserved areas where terrestrial networks struggle to provide adequate coverage. By leveraging Non-Terrestrial Networks (NTN) such as satellites and High Altitude Platforms (HAPs), eMBB solutions overcome geographical barriers and ensure consistent high-speed internet access across wide areas. This capability is crucial for industries requiring robust connectivity, including media and entertainment, where reliable and high-bandwidth data transmission supports content distribution and live broadcasting without interruptions.

“By location, the isolated  segment is expected to hold a higher growth rate during the forecast period.”

In isolated environments such as remote islands or harsh terrains, 5G NTN solutions play a pivotal role in overcoming connectivity challenges unique to these locations. Satellite constellations provide reliable communication links for emergency response, disaster recovery, and environmental monitoring. They enable real-time data transmission for scientific research expeditions, facilitating remote exploration and resource management. Moreover, High Altitude Platforms (HAPs) offer flexible and scalable connectivity options that adapt to the specific needs of isolated communities, supporting sustainable development initiatives and enhancing communication resilience in areas prone to natural disasters or infrastructure limitations..

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“Asia Pacific is expected to hold a higher growth rate during the forecast period.”

The 5G NTN market in Asia-Pacific is expanding quickly due to important technology advancements and calculated strategies. China's launch of a new series of high-orbit internet satellites in September 2023, including Chinasat 16, 19, and 26, underscores its commitment to expanding internet coverage across China and neighboring regions, aligning with the Belt and Road Initiative's infrastructure goals across Asia, Africa, and Europe. Simultaneously, Ji's deployment of over 115,000 5G sites in 2024 and Airtel's ambitious plan to introduce 5G services in 300 cities in India highlights the region's robust adoption of 5G NTN solutions. Japan's collaboration between KDDI and SpaceX in September 2023 to introduce satellite-to-cellular services using Starlink satellites further illustrates the region's proactive approach to bridging connectivity gaps, particularly in remote areas. Together, these developments establish Asia-Pacific as the 5G NTN market's fastest-growing region, propelled by creative installations and a resolute commitment to improving connection infrastructure.

About MarketsandMarkets™

MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

 

Contact:
Mr. Rohan Salgarkar
MarketsandMarkets™ INC.

630 Dundee Road

Suite 430

Northbrook, IL 60062

USA: +1-888-600-6441

Email: sales@marketsandmarkets.com

5G Services Market Size, | Industry Growth, Upcoming Trends And Forecast Upto 2030

The global 5G Services Market size is estimated at USD 98.3 billion in 2023 to USD 427.7 billion by 2028 at a Compound Annual Growth Rate (CAGR) of 34.2%, according to a new report by MarketsandMarkets™. The innovative concept of network slicing in 5G represents a transformative leap in network customization, offering virtual, dedicated slices tailored to the unique requirements of specific applications or services. This capability is a pivotal driver for the diverse range of use cases enabled by 5G technology. For massive IoT deployments, network slicing allows the creation of dedicated slices optimized for handling many connected devices with varying communication needs.

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5G Services Market Dynamics:

Drivers:

1. Increase in mobile network data traffic.
2. Need to transform mobile broadband experience
3. Accelerated digital transformation across verticals

Restraints:

1. High deployment costs.

Opportunities:

1. Global proliferation of Fixed Wireless Access (FWA).
2. Increase in demand for high reliability and low latency networks

Top Companies in 5G Services Market:

·         AT&T (US)

·         China Mobile (China)

·         Verizon Communications (US)

·         Deutsche Telekom AG (Germany)

·         Vodafone Group (UK)

·         SK Telecom (South Korea)

·         BT Group (UK)

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“Based on communication type, the eMBB segment to hold the largest market size during the forecast period.”

The promise of significantly faster data speeds with 5G stands as a pivotal market driver for Enhanced Mobile Broadband (eMBB), reshaping the landscape of user experiences. This accelerated speed is a transformative force, particularly for data-intensive applications that have become integral to contemporary lifestyles. The ability of 5G to deliver higher download and upload speeds serves as a cornerstone for the flourishing demand in areas such as high-definition video streaming, virtual reality, and augmented reality. In the realm of video streaming, 5G facilitates seamless, buffer-free streaming of high-quality content, enhancing the user's entertainment experience. Moreover, in the realm of immersive technologies like virtual and augmented reality, the faster data speeds of 5G contribute to reduced latency, ensuring a more responsive and realistic user experience. This heightened speed not only meets current consumer expectations but also unlocks the potential for novel applications and services, driving market growth as businesses and consumers alike seek the enhanced capabilities that 5G brings to the forefront.

“By end user, enterprise segment is expected to hold a higher growth rate during the forecast period.”

Enterprises across various sectors are increasingly drawn to the deployment of private 5G networks as a strategic driver within the enterprise segment. This trend is particularly pronounced in industries where having dedicated and reliable communication networks is imperative for driving automation, robotics, and process optimization. Private 5G networks offer businesses a higher degree of control over their connectivity infrastructure, providing a dedicated and secure environment for mission-critical applications. In sectors like manufacturing, for instance, where seamless communication between machines and devices is essential for operational efficiency, private 5G networks serve as a foundational technology. The ability to tailor network parameters and allocate resources according to specific business needs empowers enterprises to optimize their connectivity for diverse applications. This adaptability, coupled with the low-latency and high-bandwidth characteristics of 5G, positions private networks as a key enabler for realizing the full potential of Industry 4.0, smart factories, and other advanced technologies within the enterprise landscape. The pursuit of these benefits propels the adoption of 5G in the enterprise sector, fostering a paradigm shift in how businesses approach and leverage their connectivity infrastructure.

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“North America is expected to hold the second largest market size during the forecast period.”

The deployment of 5G infrastructure in North America is considered a powerful catalyst for economic growth, job creation, and technological innovation. The robust and high-speed connectivity offered by 5G networks serves as a foundational element for various industries, from telecommunications and manufacturing to healthcare and smart cities. As businesses embrace the capabilities of 5G, they stimulate demand for advanced technologies, such as the Internet of Things (IoT), edge computing, and artificial intelligence. This surge in technological adoption, coupled with the need for skilled professionals to design, implement, and manage 5G networks, contributes to job creation and the growth of a specialized workforce. Furthermore, the public and private sectors recognize the potential for 5G to drive economic competitiveness on a global scale. Consequently, increased investments are being made to develop and expand 5G infrastructure, fostering an ecosystem that not only meets current connectivity needs but also positions North America at the forefront of technological innovation and economic development.

About MarketsandMarkets™

MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

 

Contact:
Mr. Rohan Salgarkar
MarketsandMarkets™ INC.

630 Dundee Road

Suite 430

Northbrook, IL 60062

USA: +1-888-600-6441

Email: sales@marketsandmarkets.com