The global 5G applications and services market size was US$ 165.1 billion in 2021. The global 5G applications and services market is forecast to grow to US$ 531.1 billion by 2030 by registering a compound annual growth rate (CAGR) of 31.8% during the forecast period from 2022 to 2030. 
In comparison to LTE mobile networks, next-generation mobile networks, also known as 5G or fifth-generation mobile networks, are more advanced. The introduction of this new technology helps the wireless network move more quickly.

Factors Influencing the Market
The global 5G applications and services market is forecast to be influenced by factors like the growing implementation of technology in the transport sector. Another vertical that can present prospects for the 5G services sector is transportation and logistics. To reduce the hazard of traffic accidents, 5G services would be crucial in enabling smooth communications between vehicles and infrastructure. Thus., it will drive the growth of the 5G applications and services market during the study period. 
The fact that technology improves overall productivity and offers advantages like cost efficiency will fuel the growth of the 5G applications and services market during the study period. 5G wireless technology has the significant potential to sustain notable vertical transformations. It increases profits and reduces the reliability of laborers. Thus, it will significantly boost the growth of the 5G applications and services market during the forecast period. 
On the contrary, high charges may limit the growth of the 5G applications and services market during the study period.

COVID-19 Impact Analysis
The COVID-19 pandemic has substantially dropped the adoption rate of 5G applications and services due to the sudden loss of the end-use industries, including automotive, smart buildings, smart cities, connected factories, smart utilities, etc. In addition, investments in this sector also reduced dramatically, which ultimately hampered the growth of the 5G applications and services market.

Regional Analysis
North America is forecast to hold the largest share in the 5G applications and services market, owing to the rising investments in the 5G network infrastructure, majorly witnessed in the United States. Mobile operators in the United States are investing highly in the 5G applications and services, which will propel the demand for the services during the study period. 
Aggressive investment in smart homes, smart factories, and smart buildings is forecast to unfold myriad opportunities for the 5G applications and services market in the coming years.

Competitors in the Market
• Airtel India
• Vodafone Limited
• Telefonaktiebolaget LM Ericsson
• China Mobile Limited
• Nokia
• Deutsche Telekom AG
• SAMSUNG
• Vodafone Limited
• Intel Corporation
• AT & T Intellectual Property
• Cisco
• KT Corp.
• Verizon Wireless
• Other Prominent Players

Market Segmentation
The global 5G applications and services market segmentation focuses on Communication, End-User, and Region. 
By Communication Type
• FWA
• eMBB
• MMTC
• URLLC
By End-user
• Broadband Services
• Connected Vehicle
• Smart Buildings
• Smart Cities
• Connected Factories
• Smart Utilities
• Connected Healthcare
By Regional Outlook
● North America
o The U.S.
o Canada
o Mexico
● Europe
▪ Western Europe
o The UK
o Germany
o France
o Italy
o Spain
o Rest of Western Europe
▪ Eastern Europe
o Poland
o Russia
o Rest of Eastern Europe
● Asia Pacific
o China
o India
o Japan
o Australia & New Zealand
o ASEAN
o Rest of Asia Pacific
● Middle East & Africa (MEA)
o UAE
o Saudi Arabia
o South Africa
o Rest of MEA
● South America
o Brazil
o Argentina
o Rest of South America