Based on the latest Grand View Research report, North America is estimated to dominate the 5G services market, after recording a share of 34.3% in 2020. AT&T’s 5G network infrastructure deployment greatly attributes to the overall investments in this market.
The global 5G services market size was valued at $41.48 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 46.2% between 2021-2028. With the increasing demand of the digital era, 5G wireless mobile services enable a fully mobile and connected environment by delivering a wide range of use cases and business models to consumers.
Moreover, the rising focus on building partnerships by 5G system integration providers with telecom operators is estimated to augment the adoption of fifth-generation network services. Many industry verticals — with IT and telecom at the top — are focusing on technological transformations to improve their overall productivity and operational efficiency.
The 5G wireless technology holds massive potential in the connectivity and technological advancement scale. Citing an example, the next-generation 5G technologies are increasingly being used in transportation. AT&T has been a major player in this part as it provides high-speed internet and broadband access in transit for entertainment, information, and interaction with smart mobility components, particularly for Nissan and Maserati vehicles.
Furthermore, mobile operators based in the US have reportedly invested around $250 billion in mobile network infrastructure rollout between 2010 and 2017. The aggressive investments in this region when it comes to building smart homes, establishing smart industries, and rolling out smart city projects are expected to contribute to the growth of the regional market in the coming years.