Chicago, Aug. 09, 2023 (GLOBE NEWSWIRE) — The global 5G Services Market size to grow from USD 107.0 billion in 2022 to USD 331.1 billion by 2027, at a Compound Annual Growth Rate (CAGR) of 25.3% during the forecast period, according to a new report by MarketsandMarkets™. Due to high availability of 5G compatible devices and high investments of governments in 5G services, the 5G ecosystem is expected to witness a faster growth rate than other connectivity transformations. Other factors such as high number of applications being developed requiring low latency in connection have resulted in high adoption of 5G services in developing economies.
Browse in-depth TOC on “5G Services Market“
145 – Tables
43 – Figures
234 – Pages
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Scope of the Report
|Market size value in 2022||USD 107.0 billion|
|Market size value in 2027||USD 331.1 billion|
|Growth rate||CAGR of 25.3%|
|Market size available for years||2018–2027|
|Base year considered||2022|
|Forecast units||Value (USD) Million/Billion|
|Segments Covered||Communication type, end user, enterprise, application, and region|
|Geographies Covered||North America, Europe, Asia Pacific, Middle East & Africa, and Latin America|
|Companies Covered||Some of the significant 5G Services Market vendors are AT&T (US), China Mobile (China), SK Telecom (South Korea), Verizon (US), BT Group (UK) and many more.|
The increasing mobile network data traffic, the growing need to transform the mobile broadband experience, development of smart infrastructures and timely availability of 5G compatible devices from several vendors are the key factors driving the global 5G services market growth. High costs required for the deployment of 5G network may limit the market growth. There are significant growth opportunities for 5G services vendors.
The growing demand for high reliability and low latency networks, unleashing massive IoT ecosystem and critical communications services are factors presenting opportunities in the 5G services market. Delay in spectrum harmonization across geographies and security concerns regarding 5G may pose a challenge to market growth. The enterprises segment has a key role to play in the 5G services market and is expected to grow at a higher CAGR during the forecast period. By expanding the scope of wireless technologies and making devices more autonomous, 5G will be more inclusive, progressive, proven, and powerful than any previous generation of communications technology. There are a number of industries with particularly intense dynamics and business opportunities around 5G, such as telecommunications, media and entertainment, manufacturing, transportation, and public services. Each of these sectors has specific business issues linked to 5G
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By communication type, the Enhanced Mobile Broadband (EMBB) segment is expected to hold a larger market size during the forecast period. Enhanced Mobile Broadband (EMBB) provides faster data rates across wide coverage areas to improve various functions, including ultra-HD video streaming. To enable an early roll out of eMBB services, 3GPP’s RAN group has committed to finalize a Non-Standalone (NSA) 5G New Radio (NR) variant.
The countries in APAC have high investments done by the governments in 5G services. The high population of the countries in the region have also resulted in higher number of subscribers for 5G, thereby resulting in a higher Average Revenue Per User (ARPU) for 5G service providers. Countries such as China, South Korea, Australia and Japan have high technological growth. The presence of developed technological infrastructure is also one of the key reasons for the adoption of 5G services across all industry verticals.
The network market in APAC is driven by the growing acceptance of cloud-based solutions, emerging technologies such as the IoT, and big data analytics and mobility.
Top Trends in Global 5G Services Market
The global 5G Services Market is growing rapidly, and there are a number of key trends that are driving this growth. Some of the top trends in the global 5G Services Market include:
- Expanded 5G Network Coverage: To reach more cities and areas around the world, network operators and telecommunications corporations have been ferociously extending their 5G network coverage. To meet growing consumer and industry expectations, the emphasis has been on ensuring that 5G services are widely accessible.
- Standalone (SA) 5G Network Deployment: Despite the fact that the first 5G deployments were based on Non-Standalone (NSA) architecture, there has been a trend in favour of Standalone (SA) 5G networks. With higher performance, reduced latency, and increased network efficiency, SA 5G enables independent and full utilisation of 5G capabilities.
- Integration of 5G and Edge Computing: 5G and edge computing have become increasingly popular together. Edge computing improves the overall performance of 5G applications and services by reducing data transmission delays by processing data closer to the source.
- Internet of Things (IoT) Connectivity: 5G is a key enabler for IoT applications thanks to its high-speed, low-latency capabilities. The need for 5G services in numerous industries is being driven by the proliferation of connected devices and the expanding usage of Industrial IoT (IIoT) solutions.
- Private 5G Networks: To satisfy their unique needs, improve security, and guarantee better control over network resources, businesses and industries, notably those in the manufacturing, logistics, and healthcare sectors, are looking into the deployment of private 5G networks.
- 5G in the Cloud: Cloud service providers have begun incorporating 5G capabilities into their infrastructure, enabling companies to use cloud-based 5G services for improved flexibility, scalability, and affordability.
- 5G in Entertainment and Media: To provide customers with immersive experiences like augmented reality (AR), virtual reality (VR), and ultra-high definition streaming, the media and entertainment sector is leveraging 5G.
- Governments and urban planners are investigating how 5G could be used to create smart city programmes that will improve public services, transit, and infrastructure management.
- Adoption of 5G Services by Enterprises: Businesses are embracing 5G services to enhance connection for remote work, enabling real-time collaboration, and support cutting-edge innovations like augmented reality (AR) and virtual reality (VR).
- Vehicle-to-vehicle (V2V) and vehicle-to-infrastructure (V2X) communications are supported by 5G-enabled autonomous vehicles, and the automotive industry is using this technology to enable connected and autonomous automobiles.
- Partnerships and Collaborations: Businesses in the 5G ecosystem are forging strategic partnerships and collaborations to speed up the deployment of 5G, improve network performance, and foster innovation in 5G-enabled services and applications.
- Spectrum Allocution and Regulatory promote: Governments throughout the world are taking steps to promote the deployment of 5G by allotting required spectrum and lowering regulatory hurdles, promoting the expansion of the 5G services market.
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Key Industry Development
The 5G Services Market is constantly evolving, with new technologies and solutions emerging all the time. Here are some of the key industry developments that are shaping the market:
- Major telecommunications firms and network operators have been aggressively deploying and growing their 5G networks to reach additional cities and regions globally. For greater coverage and better services, this comprises both Non-Standalone (NSA) and Standalone (SA) 5G deployments.
- Smartphones with 5G capabilities are becoming more widely available and more reasonably priced, which has sped up consumer acceptance of 5G services. In order to entice customers to switch to 5G-compatible handsets, smartphone manufacturers are integrating 5G capabilities across a range of pricing points.
- Enterprise-focused 5G services: Businesses are using 5G services more and more to improve operations and enable cutting-edge technologies like edge computing, AR, VR, and IoT. More specialised 5G solutions for commercial use cases have resulted from this.
- Private 5G Networks: Private 5G networks are gaining popularity, especially in sectors with specialised connectivity needs and security concerns. Private networks give businesses and industries private, secure, low-latency connectivity so they can independently administer and manage their networks.
- Real-time data communication, predictive maintenance, and improved automation are now possible in industrial settings thanks to the integration of 5G with Industrial IoT (IIoT). Industry efficiency, productivity, and cost reductions are being fueled by this progress.
- Integration of 5G with Cloud Computing: By incorporating 5G capabilities into their cloud infrastructure, cloud service providers are enabling businesses to install and operate 5G services in a more adaptable and scalable way.
- Private 5G networks are becoming more and more popular, particularly in industries with specialised connectivity requirements and security concerns. Businesses and industries can autonomously govern and maintain their networks thanks to private networks, which provide them with private, secure, low-latency communication
- Thanks to the combination of 5G with Industrial IoT (IIoT), real-time data exchange, predictive maintenance, and increased automation are now achievable in industrial settings. This development is fueling improvements in industry productivity, efficiency, and cost-cutting.
- Integration of 5G with Cloud Computing: Cloud service providers are helping enterprises to install and operate 5G services in a more flexible and scalable manner by integrating 5G capabilities into their cloud infrastructure.
- Focus on Network Security: With the expansion of 5G services, network security is receiving more attention in order to address potential vulnerabilities and cyber threats. Businesses are spending money on safeguarding their 5G networks and putting in place reliable security measures.
- 5G testbeds and trials are being conducted in a number of nations to examine new use cases and gauge how well 5G networks perform in practical situations. These tests aid in the creation of 5G services that are more sophisticated.
- Industry organisations and governments are trying to create 5G standards and rules in order to guarantee interoperability, spectrum allocation, and a successful rollout of 5G networks around the world.
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Hohem Shines at IFA and IBC Exhibitions with Innovative AI Tracking Stabilizers
SHENZHEN, China, Sept. 30, 2023 /PRNewswire/ — Recently, Hohem, a trailblazer in the gimbal market, showcased its innovation at two renowned international exhibitions – the IFA exhibition in Berlin from September 3 to September 5, and the IBC exhibition in Amsterdam from September 15 to September 18. These exhibitions are significant platforms for industry players to present their latest innovations and connect with enthusiasts.
The IFA exhibition, a global hub for consumer electronics, saw Hohem presenting a range of sought-after smartphone gimbal and camera stabilizers, such as iSteady M6 and iSteady MT2. The magnetic AI tracker is much to the delight of photography enthusiasts. With this sensor, users can enjoy a smooth AI tracking experience without the need for an app or Bluetooth connection. By simply facing the AI sensor and making gestures, iSteady MT2 and iSteady M6 swiftly and accurately tracks the subject, capturing facial and body movements even in challenging scenarios.
At IFA, Hohem shared the stage with industry giants like DJI, Zhiyun, Huawei and Apple, underlining its position amidst renowned brands in the smart imaging arena. The booth design, characterized by a blend of deep black and vibrant orange, was a visual treat, adding a touch of sophistication and modernity.
Following IFA, Hohem participated in the IBC exhibition, a prestigious event in the broadcasting industry. The booth, mirroring the design theme from IFA, presented Hohem’s innovative applications of smart imaging technology in broadcasting. This event also featured industry stalwarts like Canon, Sony and Nikon, further enriching the discourse on broadcasting technology and imaging. Furthermore, the Hohem MIC-01 Wireless Microphone has received recognition and acknowledgment from industry competitors, establishing Hohem as a key player in the gimbal market.
In the coming days, Hohem will continue to uphold its brand mission of “Create a more straightforward way of recording memorable moments with tech” and introduce more user-friendly and efficient smart imaging devices. Hohem aspires to earn the trust and admiration of consumers globally, emerging as a go-to brand in the smart imaging landscape.
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Digital Twin Market size worth USD 133.7 Billion, Globally, by 2030 at 38.1% CAGR: Verified Market Research®
The “Global Digital Twin Market Size By Type, By Technology, By Industry, By Geographic Scope And Forecast” report has been published by Verified Market Research®. The report provides an in-depth analysis of the global Digital Twin Market, including its growth prospects, market trends, and market challenges.
JERSEY CITY, N.J., Sept. 29, 2023 /PRNewswire/ — The Global Digital Twin Market is projected to grow at a CAGR of 38.1% from 2023 to 2030, according to a new report published by Verified Market Research®. The report reveals that the market was valued at USD 7.2 Billion in 2022 and is expected to reach USD 133.7 Billion by the end of the forecast period.
Download PDF Brochure: https://www.verifiedmarketresearch.com/download-sample?rid=144337
Browse in-depth TOC on “Digital Twin Market”
202 – Pages
126 – Tables
37 – Figures
Global Digital Twin Market Sees Unprecedented Growth Amidst Pandemic Challenges
The global Digital Twin Market is experiencing remarkable growth, transforming industries and revolutionizing decision-making processes across the board. A Digital Twin, a virtual replication of physical entities or systems, is driving innovation and operational efficiency across healthcare, pharmaceuticals, automotive, transportation, and aerospace sectors.
Digital Twin Market Drivers and Industry Insights:
Amid the challenges posed by the COVID-19 pandemic, the healthcare and pharmaceutical sectors have embraced Digital Twin technology, leveraging its capabilities for drug experimentation, patient monitoring, and medication impact assessments. The energy & power sector is emerging as a significant driver of Digital Twin adoption, with the manufacturing industry optimizing operations through its integration.
Digital Twin Market Outlook and Future Prospects:
The global Digital Twin market’s outlook remains promising, driven by the imperative need for data-driven decision-making and enhanced operational efficiency. Through real-time data analysis and predictive modeling, Digital Twins enable organizations to anticipate and optimize the performance of products and processes throughout their lifecycle. The market’s growth is further propelled by ongoing advancements in technology, fostering a landscape of innovation and strategic collaborations.
North America stands at the forefront of the Digital Twin revolution, serving as a key innovation center and early adopter of Digital Twins and associated technologies. Major industry players, including General Electric (US), have significantly invested in the sector, underlining the region’s market leadership. Their contributions are shaping the industry’s future, driving research, and fostering advancements that will redefine how businesses operate in the digital age.
Digital Twin Market Key Players
The “Global Digital Twin Market” study report will provide valuable insight with an emphasis on the global market. The major players in the market are Swim AI, Robert Bosch, Oracle, SAP, Ansys, Siemens AG, Microsoft Corporation, PTC, IBM, and General Electric.
The Digital Twin market represents a pivotal shift in how industries approach decision-making and operational efficiency. As we navigate the challenges brought forth by the pandemic, Digital Twins offer a beacon of innovation, enabling organizations to thrive in an increasingly digital world
To get market data, market insights, financial statements and a comprehensive analysis of the Global Digital Twin Market, please Contact Verified Market Research®.
Based on the research, Verified Market Research® has segmented the global Digital Twin Market into Type, Technology, Industry, And Geography.
Digital Twin Market, by Typeo System Digital Twin
o Process Digital twin
o Product Digital Twin
Digital Twin Market, by Technologyo Big Data Analytics
o AR, VR, and MR
o AI and ML
Digital Twin Market, by Industryo Retail
o Automotive and Transportation
Digital Twin Market, by Geographyo North America
GermanyFranceU.KRest of Europeo Asia Pacific
ChinaJapanIndiaRest of Asia Pacifico ROW
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Public Key Infrastructure (PKI) Market worth $13.8 billion by 2028 – Exclusive Report by MarketsandMarkets™
PKI will continue to be used by organisations for secure digital communications, identity management, and data protection in an increasingly linked and digitised world because to its flexibility to adapt to new technologies and security issues
CHICAGO, Sept. 29, 2023 /PRNewswire/ — The global Public Key Infrastructure Market is estimated to be worth USD 5.5 billion in 2023 and is projected to reach USD 13.8 billion by 2028, at a CAGR of 20.2% during the forecast period, according to a new report by MarketsandMarkets™.
Browse in-depth TOC on “Public Key Infrastructure (PKI) Market”
358 – Tables 56 – Figures300 – Pages
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Scope of the Report
Market size available for years
Base year considered
Value (USD) Million/Billion
By offering, deployment mode, organization size, application, and vertical
North America, Europe, Asia Pacific, Middle East and Africa, and Latin America
Thales (France), Entrust Datacard (US), DigiCert (US), ManageEngine (US), Microsoft (US), HID Global (US), Google (US), AWS (US), AppViewX (US), Venafi (US), Nexus (Sweden), Sectigo (US), Futurex (US), GlobalSign (US), WISeKey (Switzerland), Cygnacom Solutions (US), Keyfactor (US), SECARDEO GmbH (Germany), Blue Ridge Networks (US), Softlock (Egypt), SSL.com (US), LAWtrust (South Africa), SecureMetric (Malaysia), Stormshield (France), and Enigma Information Security Systems (US)
The PKI market is being propelled by a convergence of factors in today’s digitally connected world. The escalating volume and complexity of cyberattacks have made robust security a paramount concern for organizations, prompting increased demand for PKI’s encryption, authentication, and digital signature capabilities. Secondly, regulatory compliance requirements, such as GDPR and HIPAA, mandate secure data handling and encryption, compelling organizations to adopt PKI solutions. The rise of digital transformation initiatives, remote work, and the Internet of Things further fuel the need for PKI to safeguard digital interactions, protect sensitive data, and establish trust in online transactions. As the digital landscape continues to expand and evolve, PKI remains the linchpin for ensuring cybersecurity, making it a pivotal driver in the cybersecurity market.
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By offering, the services segment to register the highest growth rate during the forecast period
The services segment of the PKI market is poised to register the highest growth rate during the forecast period, underlining the critical role of expert services in enabling organizations to harness the full potential of PKI solutions. Implementing and managing PKI can be complex, involving intricate cryptographic processes and security considerations. As cybersecurity threats evolve, organizations recognize the need for specialized expertise in securing digital identities and data. PKI service providers offer invaluable support, consultation, and implementation services to ensure a seamless and secure PKI deployment. Their role extends to customizing PKI solutions to align with the unique infrastructure of each organization, integrating PKI seamlessly into existing systems, and providing managed PKI services to streamline certificate management. Furthermore, PKI service providers play a vital role in ensuring compliance with stringent regulatory standards and industry best practices. Their training and support services empower organizations to maximize the benefits of PKI while maintaining the highest levels of security.
Based on vertical, the healthcare segment is to grow at the highest CAGR during the forecast period
The healthcare sector is poised to experience the highest compound annual growth rate within the PKI market during the forecast period, signaling a significant shift towards robust security and digital trust solutions. Several key factors contribute to this remarkable growth trajectory. The healthcare sector deals with highly sensitive patient data, making data security and patient privacy paramount concerns. PKI’s encryption and authentication capabilities provide a robust framework for safeguarding electronic health records, ensuring the integrity of medical data, and enabling secure sharing of patient information among healthcare providers. The COVID-19 pandemic has accelerated the adoption of telemedicine and remote healthcare services. The need for secure and trusted digital identities and communications has surged as the healthcare industry increasingly relies on digital platforms for remote consultations, diagnosis, and patient monitoring. PKI plays a pivotal role in enabling secure telehealth services, ensuring that patient data remains confidential and unaltered during remote interactions.
North America to hold the largest market share during the forecast period.
North America holds the largest market share during the forecast period in the PKI market, underscoring the region’s strong emphasis on cybersecurity, digital innovation, and regulatory compliance. North America is home to many enterprises, financial institutions, healthcare organizations, and government agencies, all of which rely heavily on robust cybersecurity solutions like PKI to protect sensitive data and ensure secure online transactions. The region’s recognition of PKI as a fundamental element of cybersecurity strategy drives its substantial market share. The United States, in particular, has a highly developed cybersecurity ecosystem, with numerous cybersecurity companies, research institutions, and government initiatives focused on enhancing digital security. This environment fosters innovation and adoption of advanced PKI solutions to address emerging threats.
Top Key Companies in Public Key Infrastructure (PKI) Market:
The major players in the Public Key Infrastructure Market are Thales (France), Entrust Datacard (US), DigiCert (US), ManageEngine (US), Microsoft (US), HID Global (US), Google (US), AWS (US), AppViewX (US), Venafi (US), Nexus (Sweden), Sectigo (US), Futurex (US), GlobalSign (US), WISeKey (Switzerland), Cygnacom Solutions (US), Keyfactor (US), SECARDEO GmbH (Germany), Blue Ridge Networks (US), Softlock (Egypt), SSL.com (US), LAWtrust (South Africa), SecureMetric (Malaysia), Stormshield (France), and Enigma Information Security Systems (US).
April 2023 – Thales adds new phishing-resistant hybrid authenticators to its Passwordless Authentication for Microsoft Azure Active Directory Customers offering.April 2023 – Entrust Introduces Zero Trust Ready Solutions for Multi-Cloud Key Compliance, Next-Generation HSM, and Passwordless AuthenticationJanuary 2023 – A comprehensive digital trust system that combines public key infrastructure (PKI), certificate management, and certificate authority (CA) services was introduced by DigiCert. A significant product launch is Trust Lifecycle Manager, which is currently accessible as a component of the DigiCert ONE platform.February 2022 – To increase public trust in the cloud, Thales announced the continuation of its cooperation with Google Cloud. Organizations can confidently use the Google Cloud Platform (GCP) if the connection is stronger. The technique known as ubiquitous data encryption, which combines Thales’ Cypher Trust Cloud Key Manager and Google Cloud’s Confidential Computing, is activated. Customers can create and manage the encryption keys for data sent to Google Confidential Cloud Computing using the Thales Cypher Trust Data Security Gateway.Inquire Before Buying @ https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=145372975
Public Key Infrastructure (PKI) Market Advantages:
Using cryptographic techniques to shield data from unauthorised access and manipulation, PKI offers a solid framework for protecting digital communications and transactions.Sensitive data is kept private and secure during transmission and storage because to PKI’s data encryption capabilities.Organisations are able to confirm the identity of users and devices before authorising access to sensitive resources thanks to PKI, which enables secure user and device authentication.Digital signatures can be created and verified with PKI, protecting the integrity and legitimacy of electronic documents and transactions.PKI offers non-repudiation, which makes it impossible for participants to claim they were not involved in a transaction because digital signatures serve as evidence of validity.Through techniques like S/MIME (encrypt/Multipurpose Internet Mail Extensions), PKI can encrypt email connections and protect the confidentiality and integrity of email information.Organisations can authorise access to systems and data based on certificate validation using PKI-based access controls, which provides an additional layer of protection.By issuing and managing digital certificates, PKI facilitates identity management by streamlining user access and account management.PKI offers a secure framework for data protection and identity verification, assisting organisations in adhering to legal and compliance standards.Report Objectives:
To define, describe, and forecast the Public Key Infrastructure Market based on segments based on offering, deployment mode, organization size, application, and vertical with regions covered.To forecast the size of the market segments with respect to five regions: North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and Latin America.To provide detailed information on the major factors (drivers, opportunities, threats, and challenges) influencing the growth of the Public Key Infrastructure Market.To analyze each submarket with respect to individual growth trends, prospects, and contributions to the global Public Key Infrastructure Market.To analyze opportunities in the market for stakeholders by identifying high-growth segments of the global Public Key Infrastructure Market.To profile the key market players, such as top and emerging vendors; provide a comparative analysis based on their business overviews, product offerings, and business strategies; and illustrate the market’s competitive landscape.To track and analyze competitive developments in the market, such as new product launches, product enhancements, partnerships, acquisitions, and agreements and collaborations.Browse Adjacent Market: Information Security Market Research Reports & Consulting
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