Artificial Intelligence
5G Services Market Worth $331.1 billion by 2027, Growing at a CAGR of 25.3% Report by MarketsandMarkets™
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
| Report Metrics | Details |
| 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 period | 2022–2027 |
| 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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Artificial Intelligence
Global Health Exhibition Announces Opportunity for Healthcare Startups to secure over 100,000 SAR in Vision NextGen Competition Designed to Fast-Track Health Innovations
Healthcare innovators developing novel medical advancements via their own business invited to compete for a prize fund exceeding 100,000 Saudi Riyal (SAR) to further product development, to be awarded at Global Health Exhibition 2024 in Malham, Riyadh, Saudi Arabia, one of the world’s most highly-attended healthcare eventsShortlisted startup businesses will present live to an expert judging panel including Dr Mohammed Alhamali, Chief Innovation Officer at Seha Virtual Hospital, Saudi Arabia Ministry of HealthEmerging businesses competing at the event will also meet and interact with the world’s leading minds in healthcare transformation including healthcare AI innovatorsThere is still time to apply – startups may complete a short online application by Monday 16 September 2024MALHAM, Saudi Arabia and RIYADH, Saudi Arabia, Sept. 11, 2024 /PRNewswire/ — The organizers of the October 2024 Global Health Exhibition taking place in Malham, Riyadh, today announced a 100,000 Saudi Riyal prize for the winner of the October 2024 event’s Vision NextGen competition.
The competition, which seeks to support the development of novel medical products, systems and treatments across multiple healthcare sectors, is supported by leading young business publication Startups Magazine. It is open to emergent healthcare companies which have been in operation for less than five years and have fewer than 25 employees. The winning business’ prize can be utilised to further advance product development in the interests of patients.
Closely aligned with the Kingdom of Saudi Arabia’s healthcare objectives including crisis response and health security, technological and digital transformation, public health and disease prevention and health innovation, Vision NextGen judges anticipate high demand to join a shortlist of 30 companies from an anticipated longlist of over 150 businesses. Six finalists drawn from the shortlist will present to the competition’s expert judging panel live at the Exhibition on 23 October 2024. The judges include:
Reenita Das, Partner and SVP, Frost & SullivanAhmed Abdulwahab, Founder, CEO and Chief Innovation Officer, Next ArabiaPilar Fernandez Hermida, Founder and MD, i-ExpandKristina Podnar, Digital Policy Consultant, Native Trust ConsultingDr Mohammad Alhamali, Chairman of the National Innovation and Regulatory Sandbox, Chief Innovation Officer at Seha Virtual Hospital, Ministry of Health, Saudi Arabia”Healthcare transformation often starts with small, innovative ideas and the Vision NextGen competition is here to nurture those with the potential to significantly impact patient care,” said Reenita Das, Partner and SVP at Frost & Sullivan and Vision NextGen judge.
“We are looking for trailblazers who are tackling global healthcare challenges through novel therapeutics, digital health, virtual care delivery, or the automation of health services. Participants will not only have the chance to present their innovations to some of the world’s leading health experts but also benefit from the extensive networking and learning opportunities at the Global Health Exhibition.”
To apply, startups which meet the competition’s criteria have a final opportunity before 16 September 2024 to complete a short initial application online at: Vision NextGen – The Start-up Competition (globalhealthsaudi.com). Shortlisted companies will be notified ahead of the Exhibition and will be invited to compete for a finalist place on 21 October.
“Innovation in healthcare goes beyond just technology; it’s about understanding and addressing the deeper, often unspoken, needs of people. At Labayh, we’re committed to breaking down the barriers that prevent access to mental health care, ensuring that every individual feels supported and heard,” said Basim Albeladi, CEO of workplace mental health specialist Labayh. “Through initiatives like the Vision NextGen competition, we seek to empower those who are driving meaningful change in the healthcare landscape.”
Registration information alongside the newly-published event program for Global Health Exhibition 2024 can be found at the following link: Global Health Exhibition (globalhealthsaudi.com)
“Global Health Exhibition offers healthcare innovators and startups incredible opportunities to meet with major international and local investors and leaders in the healthcare sector,” said Rachel Sturgess, Group Director, Tahaluf, the event’s organizer.
“The Vision NextGen competition is seeking true change-makers who are actively addressing the most pressing challenges in global healthcare and bring a passion for transforming the lives of patients across a wide range of medical specialities.”
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Artificial Intelligence
Softeon Named Leader in SPARK MatrixTM for Warehouse Management System Market, Q3, 2024 by Quadrant Knowledge Solutions
Softeon, with its comprehensive technology for its Warehouse Management System, has received strong ratings across the parameters of technology excellence and customer impact.
RESTON, Va., Sept. 11, 2024 /PRNewswire/ — Quadrant Knowledge Solutions announced today that it has named Softeon, the only tier-1 Warehouse Management System (WMS) provider focused on optimizing warehouse and fulfillment performance to increase operational efficiency and throughput, as a Q3, 2024 leader in the SPARK MatrixTM analysis of the global Warehouse Management System (WMS) market and its vendors.
The Quadrant Knowledge Solutions SPARK MatrixTM: Warehouse Management System (WMS) Q3, 2024, includes a detailed analysis of global market dynamics, major trends, vendor landscape, and competitive positioning. The study provides competitive analysis and ranking of the leading Warehouse Management System (WMS) vendors in the form of its SPARK MatrixTM. It provides users with strategic information to evaluate vendor capabilities, competitive differentiation, and market position.
“Softeon has solidified its position as a leading provider of cloud-based Warehouse Management System (WMS) solutions, Warehouse Execution Systems (WES), and Distributed Order Management (DOM) by catering effectively to both B2B and B2C clients,” says Pruthvi Raj, Senior Analyst at Quadrant Knowledge Solutions. “With advanced functionalities such as real-time inventory visibility, resource management, advanced automation capabilities, and seamless integration with other supply chain systems, Softeon empowers large enterprises to achieve operational efficiency and optimize resources.”
Pruthvi Raj adds, “Softeon’s year-on-year revenue growth, strong enterprise segmentation, a compelling vision & roadmap, and industry-specific capabilities, particularly in 3PL, healthcare, and life sciences, positions the company as a leader in the SPARK Matrix™: Warehouse Management System (WMS), Q3, 2024.”
“Unlike our competitors, Softeon is uniquely focused on a comprehensive fulfillment solution suite, designed to drive the most value and quickest ROI to our customers, many of them highly demanding 3PLs,” says Jim Hoefflin, CEO, Softeon. “Our philosophy is rooted in customer centricity and manifests in products, tools, and processes that create the most ideal workflows for warehouse operations. Simply put, we relentlessly micro-tune the application to capture the most operational efficiency.”
Quadrant Knowledge Solutions defines a Warehouse Management System (WMS) as “a software suite that helps businesses to visualize, optimize, and manage end-to-end warehouse operations such as slotting, receiving, put-away, inventory management, picking, packing, and shipping. WMS also offers resource (labor, machine, material, and devices) management capabilities for effective order allocation and task optimization. Additionally, it leverages emerging technologies, such as AI/ML, analytics, digital twin, IoT, voice recognition, robotic process automation, and edge computing, to develop strategies for transforming and automating warehouse and distribution/fulfilment center activities.”
As shown by their position as a leader in the SPARK MatrixTM for the Warehouse Management System market, Q3, 2024, Softeon’s technology empowers businesses to solve the complexities and challenges of today’s warehouses.
To unlock the full potential of your supply chain with Softeon’s innovative solutions, contact them today.
Additional Resources:
Complimentary download – SPARK Matrix: Warehouse Management System (WMS), Q3 2024
For more available research, visit: https://quadrant-solutions.com/market-research/
About Softeon
Softeon is a WMS provider focused exclusively on optimizing warehouse and fullfilment operations. For over two decades now, we have been helping our customers succeed. Investing in R&D enables us to develop software to solve the most complex warehouse challenges. Softeon is laser-focused on customer results, with a 100% track record of deployment success. We believe warehouse leaders shouldn’t have to settle for a one-size-fits-all approach to technology. For more information, please visit www.Softeon.com.
Media Contacts:
Mike CatalinoDirector of Public Relations and Analyst [email protected]
About Quadrant Knowledge Solutions
Quadrant Knowledge Solutions is a global advisory and consulting firm focused on helping clients achieve business transformation goals with Strategic Business and Growth advisory services. At Quadrant Knowledge Solutions, our vision is to become an integral part of our client’s business as a strategic knowledge partner. Our research and consulting deliverables are designed to provide comprehensive information and strategic insights for helping clients formulate growth strategies to survive and thrive in ever-changing business environments.
Media Contacts:Shraddha Roy PR & Media Relations Quadrant Knowledge Solutions Regus Business Center 35 Village Road, Suite 100, Middleton Massachusetts 01949 United States Email: [email protected] Source: https://qksgroup.com/resources/newsroom/softeon-named-leader-in-spark-matrix-for-warehouse-management-system-market-q3-2024-by-quadrant-knowledge-solutions?id=765 Connect with us on LinkedIn- https://www.linkedin.com/company/qksgroup/
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Artificial Intelligence
Vantiva Unveils ONYX, its latest Smart Media Device with Advanced AI Capabilities at IBC 2024
This high-end Wi-Fi 6 enabled set-top box opens door for range of AI uses cases including event detection within video and image enhancement
PARIS, Sept. 11, 2024 /PRNewswire/ — Vantiva (Euronext Paris: VANTI), a global technology leader enabling NSPs to connect consumers worldwide, today introduced the ONYX 4K Ultra HD Android TV set-top box, the latest AI-enabled platform to be launched by Vantiva. Equipped with an extremely powerful 40K quad-core processor and featuring a 4 TOPS NPU, the ONYX STB is one of the first to incorporate innovative AI capabilities that open the door to numerous next-generation use cases including identifying and locating specific events in video (event detection within video) and image enhancement features such as sharpening (super resolution) or decreasing grain (advanced denoising). The ONYX will be demonstrated at IBC 2024 in Hall 1, Level 2, Balcony Suite 1.BS21, Rai, Amsterdam, Sept. 13 – 16.
“The expansion of AI technology into video delivery is driving further innovations and is set to completely transform the home entertainment sector,” said Leopold Diouf, Senior Vice President of the Product Division at Vantiva. “As the central hub of the home entertainment ecosystem, intelligent set-top boxes, like ONYX, play a crucial role in this AI revolution, enabling the integration of new added value services, such as predictive maintenance and enhanced security for NSPs and more personalized content for consumers. Furthermore, as ONYX supports HDR10, HDR10+ and Dolby® Vision formats, end-users will be able to enjoy a more immersive video experience.”
With the latest, most efficient and highest-performing dual-band Wi-Fi 6 technology, the ONYX allows for video streaming over Wi-Fi with support for IPTV and Over-the-Top (OTT) services such as Netflix, Hulu and Disney Plus. This allows more flexibility and mobility in the placement of the STB. The ONYX is running on Android TV 14 software and is ready for RDK as the bootloader can support both standards. The device is equipped with a quad-core processor, a powerful NPU, Bluetooth 5.2 LE technology and supports the latest Video Codecs H.266/VVC. This makes it a future-proof platform for enhanced services and data analytics features.
The ONYX will have the option for Far Field Voice (FFV) control with up to four microphones. This enables the end-user to have a true ‘lie-back’ experience where they will only need their voice to search or control the volume without having to find and press a button on the remote control. FFV will effectively incorporate smart assistant features into the STB and complement AI functionality as Large Language Models continue to evolve. Vantiva has designed this platform with flexibility in mind so it can be configured to suit the requirements of operators.
The ONYX casing is designed with recycled plastics and uses a USB-C power connector to maximize the re-use of power supply units. Additionally, the Bluetooth 5.2 LE technology enhances audio quality and manages power consumption more effectively, resulting in longer battery life for Bluetooth devices.
PDF: https://mma.prnewswire.com/media/2502902/Vantiva_EN.pdfLogo: https://mma.prnewswire.com/media/2388773/Vantiva_Logo.jpg
Contacts:
Vantiva Press [email protected]
Thatcher+Co. for Vantiva [email protected]
View original content:https://www.prnewswire.co.uk/news-releases/vantiva-unveils-onyx-its-latest-smart-media-device-with-advanced-ai-capabilities-at-ibc-2024-302245147.html
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