By 2027, the 5G service market will exceed US$250.3 billion

According to news on April 9th, Acumen Research and Consulting, a global market research institution, recently released a report entitled "5G Service Market-Global Industry Analysis, Market Size, Opportunities and Forecasts, 2020-2027". The report shows that from 2020 to 2027, the global 5G service market is expected to grow at a compound annual growth rate of about 29.7%, and the market size will exceed $250.3 billion by 2027.

The report pointed out that the Asia-Pacific region is expected to grow rapidly. The region is undergoing a revolution in the adoption of new technologies in different sectors. The expansion of infrastructure in the Asia-Pacific region, especially China, South Korea, Japan, Singapore and other countries, is increasing the deployment of 4G and 5G networks, creating huge opportunities for the implementation of 5G services. In addition, due to the large mobile user base, companies in the region are becoming more competitive and focusing on providing better customer service.

The 5G network provides an enhanced broadband experience with speeds up to 1 Gbps, a delay of 10 ms, and a service platform based on cloud and artificial intelligence. IT and telecommunications, retail, healthcare, automotive, media and entertainment, finance and agriculture all have different service requirements, such as high bandwidth, low power consumption, ultra-low latency and high speed. In order to meet the growing demand for mobile broadband services, new spectrum must be used to increase network capacity, which will lead to the widespread adoption of 5G cores and the deployment of 5G technologies to enhance mobile broadband services.

The factors driving the 5G service market include the increase in the adoption of IoT devices and edge computing, the increase in demand for content streaming services, and the increase in the demand for low-latency connections in industrial automation.

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