The 5G services market is vital for a fully mobile and connected environment. 5G wireless mobile services enable a wide range of use cases and business models to consumers.

The 5G technology offers faster data speeds and extremely low latency, which would improve the user experience for several use cases, such as virtual reality and augmented reality gaming, seamless video calling and ultra-high definition videos.

This will help companies gain a huge customer base in the market. In addition, these market players are strategically focusing on mergers and acquisitions to strengthen their foothold in the global market. For instance, in September 2018, T-Mobile signed a pact with Ericsson to support T-Mobile’s 5G deployment in the US.

The key market players are investing heavily in acquiring the necessary spectrum. This will allow them to strengthen their overall portfolios and increase their subscriber base across various countries.

The global 5G services market is expected to reach USD 1,102.7 billion by 2030, according to a report by Grand View market research, Inc. The demand for 5G services is expected to be driven by the need for enhanced data speeds and capacity, as well as the need for reduced latency.