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5G Services Market Size to Surpass US$ 1.87 Trillion by 2030

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Ottawa, June 02, 2022 (GLOBE NEWSWIRE) — The global 5G services market size was accounted at US$ 64.54 billion in 2021. The worldwide 5G services industry is being driven by a rising reliance on machine-to-machine connectivity and an increase in mobile data traffic. 5G services provide a fully mobile environment by increasing the amount of data transmitted over a wireless network based on high frequency and superior antenna technology.

Due to the increased demand for internet subscriptions and the growing demand for high-speed and comprehensive network coverage, the 5G services industry is also expanding. In addition, the integration of 5G services with the internet of things has enabled high-speed data communication in applications such as smart home energy management, resulting in a 5G services market forecast. The increasing demand for high-speed connectivity is propelling the 5G services market forward.

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Report Highlights

  • On the basis of communication type, enhanced Mobile Broadband (eMBB) segment holds the largest market share in the global 5G services market. The enhanced Mobile Broadband (eMBB) services are the first commercial 5G services to launch as a supplement to evolving 4G internet services, but it will offer far more than just faster download speeds.
  • On the basis of vertical, IT & telecom segment holds the largest market share in the global 5G services market. The IT & telecom segment is anticipated to maintain its dominance during the projected period, due to significant investments by big firms in contemporary communication technology.

Scope of the Report

Report Attributes Details
Market Size in 2021 USD 65.45 Billion
Revenue Forecast by 2030 USD 1.87 Trillion
CAGR 44.63% from 2022 to 2030
Largest Market Asia Pacific
Companies Covered SK Telecom Co., Ltd., T-Mobile USA, Inc., Verizon Communications, Inc., Rakuten Mobile Inc., BT Group plc, China Mobile Ltd., AT&T, Inc., China Telecom Corporation Ltd., Saudi Telecom Company, Vodafone Group

Regional Snapshot

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North America is the largest segment for 5G services market in terms of region.The U.S. is dominating the 5G services market in the North America region. The market for 5G services in North America is growing due to rising demand for 5G networks. According to Ericcson’s Mobility Report from June 2019, the region will have over 270 million 5G subscriptions, accounting for roughly 60% of all mobile subscriptions. This indicates that 5G services in the region have a lot of potential.

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Asia-Pacific region is the fastest growing region in the 5G services market.China, Japan, and South Korea hold the highest market share in the Asia-Pacific5G services market. The deployment of new and improved technologies is one of the major factors driving the Asia-Pacific 5G services market forward. For the development of the 5G services market in the region, market players are embracing cutting-edge technologies like blockchain, edge computing, and 5G core technology. Furthermore, the growth and development of the 5G services market are aided by the expansion of the information technology sector.

Market Dynamics

Drivers

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Growing number of internet of things devices

The high data speed is expected to be driven by the rising demand for edge computing and internet of things devices as well as the growing number of data generated by internet of things devices. 5G services will provide unprecedented data rates while also expanding real time data processing capabilities and enhancing the entire user experience. Thus, growing number of internet of things devices is driving the 5G services market growth.

Restraints

Small cell installations

One of the primary criteria for 5G installations is the cost effective and quick installations of tiny cell networks. Nevertheless, tiny cell installations in many parts of the globe face enormous financial, regulatory, and administrative burdens, further delaying the adoption of 5G technology. As a result, small cell installations are restricting the expansion of worldwide 5G services market.

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Opportunities

Growing need for broadband networks

To meet the growing demand and need for mobile broadband services, network capacity must be raised by utilizing new frequency, resulting in widespread acceptance and adoption of the 5G core for the deployment of 5G technology for better mobile broadband services. As a result, growing need for broadband networks is creating lucrative opportunities for the growth of global 5G services market.

Challenges

High installation cost of 5G network

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The needed throughput density, base station, and periodic interest rate pricing all have an impact on the cost of 5G infrastructure. For efficient and hyper small cell deployments, lowering these costs is critical. The network connectivity also requires high investments. IDC estimates that investments in smart city technology would reach $135 billion by 2021. Thus, high installation cost of 5G network is the biggest challenge for the growth of global 5G services market.

Recent Developments

  • China Mobile and Nokia collaborated in January 2021 to successfully experiment artificial intelligence powered RANs to estimate frequency traffic and identify network anomalies in order to improve the 5G-RAN architecture.
  • Nokia teamed with Setar, an Aruba-based communications provider, in December 2019 to enable a complete end to end 5G network transformation. Nokia will modernize core and data management systems as well as improve RAN access. In LAMEA, this is Nokia’s first end to end 5G deal.
  • T-Mobile, Nokia, and Ericsson announced a 5-multibillion dollar contract in January 2021 to continue evolving and covering the country’s largest 5G network.

Market Segmentation

By Communication Type

  • FWA
  • eMBB
  • uRLLC
  • mMTC

By Vertical

  • Manufacturing
  • Public Safety
  • Healthcare & Social Work
  • Media & Entertainment
  • Energy & Utility
  • IT & Telecom
  • Transportation & Logistics
  • Aerospace& Defense
  • BFSI
  • Government
  • Retail
  • Mining
  • Oil & Gas
  • Agriculture
  • Construction
  • Real Estate

By End Users

  • Consumers
  • Enterprises

By Geography

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • Middle East & Africa (MEA)

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Artificial Intelligence

Aero Design Labs receives U.S. and EASA approval for updated Boeing 737-800 drag reduction kit

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FORT WORTH, Texas, Sept. 30, 2024 /PRNewswire/ — Aero Design Labs (ADL) today announced it has received a Supplementary Type Certificate (STC) from the Federal Aviation Administration (FAA) and European Union Aviation Safety Agency (EASA) approval for its enhanced Boeing 737-800 drag reduction kit 2.0.

“We are delighted to introduce our next generation of the drag reduction kit, which we are referring to as ‘ADL Kit 2.0′,” said Jeff Martin, ADL President and CEO. “The ADL team has once again demonstrated its expertise and commitment to aviation carbon reduction through its continued improvement process. ADL’s next generation Kit 2.0 is an evolution from our original designs, meeting the stringent requirements based on valuable feedback from our launch partners. With our new EASA approval, we can now offer our carbon reduction kits to new EU airline customers.”
The ADL Kit 2.0 captures new benefits, and significantly reduces the installation time, delivering reduced out-of-service time for the conversion while generating meaningful fuel savings and reduced carbon emissions across the popular Boeing 737-800 variant. Based on feedback from airline partners, it is anticipated that a kit can be installed overnight, minimizing critical out-of-service time for the airlines.
“Having served as an airline operational executive, I understand the need for airlines to reduce their carbon footprint, save fuel and minimize aircraft out-of-service time for the modification,” said David Campbell, ADL Chief Operating Officer. “ADL Kit 2.0 offers better economics and a shorter payback period, assisting airlines with fuel savings and carbon reduction including their IATA CORSIA carbon reduction pledges.”
“On behalf of the team at ADL, we thank ALOFT AeroArchitects, NORDAM, AAR Corp, and the many airline partners who have assisted us on this journey”, concluded Jeff Martin. “Their feedback and contributions to our engineering efforts and joint commitments to reducing aviation carbon emissions are invaluable.”
About Aero Design Labs L.L.C.
Founded in 2015, Aero Design Labs (ADL) leads the way in the research, development and installation of drag reduction systems for airline fleets globally. ADL modifications to airlines’ existing fleets can result in fuel savings, extend fleet longevity and the potential for billions of pounds of CO2 to be prevented from entering the atmosphere. 
Media inquiries: Richard Bartrem [email protected]
Sales inquiries: David Campbell [email protected]
Logo – https://mma.prnewswire.com/media/2519564/Aero_Design_Labs_Logo_Logo.jpg 

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Artificial Intelligence

DocPro Limited Announces the Launch of DocLegal.ai

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Affordable AI-Powered Legal Solutions
HONG KONG, Sept. 30, 2024 /PRNewswire/ — DocPro Limited, a leading innovator in legal technology, has launched DocLegal.ai, a new platform designed to provide AI-powered legal assistance at an unbeatable price—less than the price of your daily coffee.

DocLegal.ai is a platform that consolidates legal document creation, editing, and review into a single interface. The platform offers the following features:
Custom Document Creation: Users can describe their scenario and receive a tailored legal document.Document Review and Editing: The AI assistant can edit, review, summarize documents, suggest clauses, and highlight potential risks.The platform is designed to provide affordable legal services to small businesses and individuals. It also aims to streamline workflows and automate routine tasks for legal professionals, enabling them to focus on high-value activities.
DocPro Limited has leveraged its experience with DocPro.com, which serves over 50,000 users globally, to develop DocLegal.ai. The company is a graduate of the Cyberport Incubation Program and is currently part of the HKSTP Incubation Program and Google for Startups Cloud Program.
As part of its soft launch, DocLegal.ai is offering exclusive access to the first 500 users for only $2.50  per document. Interested parties can Visit the DocLegal.ai website to sign up.
About DocPro Limited
Founded in 2020, DocPro Limited is a leader in the legal tech space, committed to enhancing the delivery of legal services through innovative AI-powered solutions. With platforms like DocPro.com and DocLegal.ai, DocPro empowers users to create and manage legal documents with unparalleled efficiency and precision. For more information, visit DocLegal.ai.
DocLegal.ai is poised to become an indispensable tool for anyone seeking reliable, efficient, and affordable legal documentation, reinforcing DocPro’s position as a pioneer in legal technology.
Media Enquiries: 
Kim [email protected]

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Artificial Intelligence

Amagi and Phenix Partner to Bring Next-Gen Low Latency and Seamless Ad Insertion for the Ultimate Viewer Experience

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Bitmovin Complements the Partnership With Its New Player Web X, Guaranteeing Seamless, Crystal-Clear Video Playback
NEW YORK, Sept. 30, 2024 /PRNewswire/ — Amagi, a global leader in cloud-based SaaS technology for broadcast and connected TV (CTV), today announced a partnership with Phenix Real Time Solutions to deliver next-generation FAST (free ad-supported streaming TV) and live events with the lowest latency available in the streaming marketplace. Amagi and Phenix will provide a complete turnkey solution for content owners to achieve real-time streaming with subsecond latency and server-side ad insertion (SSAI). By combining automation, scheduling, real-time streaming, and ad monetization, streaming customers can now deliver a “see it here first” experience, eliminate spoilers from social media, and provide a best-in-class viewing experience for their audiences.

Bitmovin adds a unique element to the mix by ensuring effortless, smooth playback on any browser, regardless of the device. Bitmovin’s open-source plugin system makes integration easy and provides the tools to maintain high-quality playback. The latest update also includes compatibility with Phenix Real-Time SSAI, combining flawless playback with real-time ad insertion.
The direct integration with Phenix now enables Amagi to output content from its Amagi CLOUDPORT automated scheduling and playout system into Phenix’s globally distributed real-time streaming network of over 34 points of presence for real-time delivery to viewers with subsecond latency. Further integration between Amagi’s Ad Tech platform and Phenix’s real-time SSAI capabilities facilitates dynamic and personalized ads while maintaining real-time playback and full compatibility with Bitmovin.
Bill Wishon, Phenix’s Chief Product Officer, stated, “Amagi has established itself as the foremost authority on FAST channel delivery. As a cloud-first company, Amagi has built itself into a pioneer in cloud technology for broadcasting and OTT. We are thrilled to join forces with them in delivering these innovative solutions.”
“Working with Phenix, the leader in real-time, scalable streaming delivery, allows Amagi to offer clients a full solution, including the industry’s first server-side ad insertion in real time. We can’t wait to see how customers deploy these workflows for next-generation OTT streaming,” said Richard Perkett, Chief Product Officer at Amagi.
Amagi provides a complete suite of channel creation, distribution, and monetization solutions. The company’s clients include some of the world’s biggest names, including A+E Networks UK, ABS-CBN, Astro, Cox Media Group, DAZN, Globo, Lionsgate Studio, NBCUniversal, Tastemade, and VIZIO.
Representatives from all the companies will be attending Amagi’s LA FAST 2024 conference on Oct. 1. More information is available at www.amagi.com/events/la-fast.
About Amagi
Amagi is a next-generation media technology company that provides cloud broadcast and targeted advertising solutions to broadcast TV and streaming TV platforms. Amagi enables content owners to launch, distribute, and monetize live linear channels on Free Ad-supported Streaming TV and video services platforms. Amagi also offers 24×7 cloud-managed services bringing simplicity, advanced automation, and transparency to the entire broadcast operations. Overall, Amagi supports 800+ content brands, 800+ playout chains, and over 5,000+ channel deliveries on its platform in over 150 countries. Amagi has a presence in New York, Los Angeles, Toronto, Mexico City, London, Paris, Sydney, Seoul, and Singapore, broadcast operations in New Delhi, and innovation centers in Bengaluru, Zagreb, and Łódź.
About Phenix
As the leader in delivering interactive video at scale, Phenix powers innovative digital experiences that drive acquisition, engagement and retention for some of the world’s biggest brands. Its patented technology is essential for delivering content in real-time that engages audiences with interactive experiences and generates revenue for sportsbooks, sports and gaming properties as well as broadcasters with real-time video streaming to global audiences at broadcast scale. Trusted with streaming video for world-class events like The Oscars, Cheltenham Festival and the Super Bowl, Phenix brings proven experience delivering video to mass audiences for the world’s largest events.
Phenix is headquartered in Chicago, Illinois, with offices in California and Europe. More information is available on the Phenix website or follow them on Twitter and LinkedIn.
About Bitmovin
Bitmovin is the leading provider of video infrastructure for global digital media companies and service providers. The company has been at the forefront of industry innovation and all major developments in the digital video streaming industry. 
Bitmovin built the world’s first commercial adaptive streaming player and deployed the first software-defined encoding service that runs on any cloud platform. Its cloud-native technology offers the most flexible and scalable media encoding, playback, and analytics solutions available with unparalleled device reach, ease of integration, and world-class customer support.
Bitmovin customers benefit from optimized operations, reduced time-to-market, and the best viewer experience possible. Bitmovin is headquartered in Denver, Colorado, and has major offices in Vienna, Klagenfurt, Austria as well as London and Berlin. The company has over 400 customers across the globe, including ClassPass, BBC, fuboTV, Hulu, and Discovery.
More information is available at www.bitmovin.com
Photo: https://mma.prnewswire.com/media/2519499/Amagi_and_Phenix_partner.jpg
 

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