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5G Services Market to grow by USD 397.6 billion from 2024-2028, driven by R&D and 5G network deployment, with AI transforming market dynamics – Technavio

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NEW YORK, Nov. 27, 2024 /PRNewswire/ — Report with the AI impact on market trends – The global 5G services market size is estimated to grow by USD 397.6 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  31.13%  during the forecast period. Growing research and development and deployment of 5G network is driving market growth, with a trend towards adoption of 5G networks for smart cities. However, high deployment cost of 5G technology  poses a challenge.Key market players include AT and T, Bell Canada, Bharti Airtel Ltd., BT Group Plc, China Mobile Ltd., Deutsche Telekom AG, Etisalat, KT Corp., MTN Group Management Services (Pty) Ltd., Nippon Telegraph and Telephone Corp., Orange SA, Reliance Industries Ltd., Rogers Communications Inc., stc Group, SK Telecom Co. Ltd., T Mobile US Inc., Telefonica SA, Telstra Corp. Ltd., Verizon, and Vodafone Group Plc.

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5G Services Market Scope

Report Coverage

Details

Base year

2023

Historic period

2018 – 2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 31.13%

Market growth 2024-2028

USD 397.6 billion

Market structure

Fragmented

YoY growth 2022-2023 (%)

27.06

Regional analysis

North America, APAC, Europe, Middle East and Africa, and South America

Performing market contribution

North America at 43%

Key countries

US, Canada, China, Germany, and Japan

Key companies profiled

AT and T, Bell Canada, Bharti Airtel Ltd., BT Group Plc, China Mobile Ltd., Deutsche Telekom AG, Etisalat, KT Corp., MTN Group Management Services (Pty) Ltd., Nippon Telegraph and Telephone Corp., Orange SA, Reliance Industries Ltd., Rogers Communications Inc., stc Group, SK Telecom Co. Ltd., T Mobile US Inc., Telefonica SA, Telstra Corp. Ltd., Verizon, and Vodafone Group Plc

Market Driver

The 5G services market is experiencing significant growth as businesses and industries adopt 5G technology and networks for real-time data collection and analysis. Smart agriculture is a prime example, with precision farming using sensors to monitor soil conditions, weather patterns, and crop health. Telecommunication operators and equipment manufacturers are collaborating to provide global roaming capabilities and spectrum harmonization for 5G subscribers. In the smart cities segment, urban infrastructure is being transformed with 5G. Smart grid systems, environmental sensors, and responsive solutions optimize resources and improve city management processes. Traffic management, emergency response systems, and public services benefit from real-time data and video feeds. The IT and telecom sectors, manufacturing, healthcare, and transportation industries are also leveraging 5G for enhanced mobile broadband, smart manufacturing, telemedicine, autonomous vehicles, and edge computing. With average data volumes increasing among video content viewers and mobile phone users, 5G subscribers demand faster download speeds and lower latency. Fiber, cable, and copper DSL networks are being replaced by FWA 5G connections. Network infrastructure, including small cells, fiber optic networks, radio equipment, and base stations, is being upgraded to support 5G services. Specialized antennas and Industry 4.0 technologies enable predictive maintenance and monitoring of smart devices and manufacturing facilities. With 6G technology on the horizon, the future of 5G services is bright. 

Smart cities are gaining popularity due to the advanced ICT infrastructure they offer, enhancing public amenities and infrastructure connectivity. Communications play a crucial role in this setup, enabling the Internet, landline, and wireless services necessary for commercial use. Extensive Machine-Type Communication (MTC) applications, such as smart metering, property monitoring, logistics management, and smart parking, are essential in a smart city. These applications require low data rates but long-reach connectivity due to their placement in challenging environments like basements and farms. Therefore, 5G services, with their high bandwidth, low latency, and extensive coverage, are ideal for smart city communications, ensuring seamless integration and efficient operation. 

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 Market Challenges

The 5G services market is experiencing significant growth as businesses and industries adopt 5G technology for real-time data collection and processing. In sectors like agriculture, precision farming using sensors for soil conditions and weather patterns is becoming common. Telecommunication operators and equipment manufacturers are working on global roaming capabilities and spectrum harmonization to expand 5G networks. Smart cities are investing in 5G for urban infrastructure, with applications including traffic management, emergency response systems, and public services. The market also includes FWA 5G services, Enhanced Mobile Broadband, and industrial automation. Challenges include the need for speed-based tariff plans, network infrastructure expansion, and the integration of IoT sensors for air quality, energy consumption, and traffic flow. The future holds potential for VR, AR, and UHD content, as well as 6G technology and IT and telecom applications.The global 5G services market faces several challenges due to the high acquisition and installation costs of 5G technology and small cell networks. Security concerns for outdoor power systems and stringent regulations add to the market’s complexity. Pressure for competitive pricing from customers and almost similar data tariffs to previous broadband communications further impact profitability. The high cost of new frequency spectrum releases is another significant challenge. Large organizations must navigate these hurdles to succeed in the 5G market.

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Segment Overview 

This 5g services market report extensively covers market segmentation by  

Technology 1.1 eMBB1.2 FWA1.3 mMTC1.4 uRLLCEnd-user 2.1 Consumers2.2 EnterprisesGeography 3.1 North America3.2 APAC3.3 Europe3.4 Middle East and Africa3.5 South America

1.1 eMBB-  The 5G Enhanced Mobile Broadband (eMBB) service category offers significant improvements over existing 4G services, with a minimum data transfer rate that delivers increased bandwidth and lower latency. This technology enables new applications such as 8K video streaming and Virtual Reality (VR) and Augmented Reality (AR). Large events, like sports, games, or concerts, are potential applications for these high bandwidth services. However, network performance is crucial for these applications, as any disruption can negatively impact the user experience. For instance, latency exceeding 20 milliseconds can cause dizziness and nausea in VR users. Meeting latency thresholds for large audiences is essential. The 5G eMBB service aims to achieve high data rates solely within 5G standalone capacity and improve 4G LTE networks for higher data rates with lower latency. It also provides high capacity to densely populated urban areas, ensures broad network coverage, and allows for real-time connectivity while using mobile broadband services from moving vehicles. These factors contribute to the anticipated growth of the 5G services market.

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Research Analysis

The 5G services market is poised for significant growth, driven by the deployment of 5G networks and the integration of advanced technologies. 5G technology offers real-time data collection capabilities, making it ideal for various industries such as agriculture, where precision farming and smart agriculture are set to revolutionize production with sensors monitoring soil conditions. The energy sector is also embracing 5G with smart grid systems, while 5G subscribers can look forward to experiences with Virtual Reality (VR) and Augmented Reality (AR), UltraHigh Definition (UHD) streaming, and the promise of 6G technology. IT and telecom companies are investing heavily in 5G services, including Fixed Wireless Access (FWA), telemedicine, and autonomous vehicles. Edge computing, industrial automation, and smart city systems are also set to benefit from the low latency and high bandwidth offered by 5G. Service providers are rolling out small cells and specialized antennas to expand network coverage and capacity. Fiber optic networks continue to play a crucial role in the backhaul infrastructure of 5G networks.

Market Research Overview

The 5G services market is poised for significant growth as the deployment of 5G networks continues to expand. With 5G technology, real-time data collection becomes a reality, enabling various industries to optimize resources and improve efficiency. In agriculture, smart farming and precision farming are set to benefit from sensors that monitor soil conditions, weather patterns, and crop health. 5G networks will also power smart grid systems, environmental sensors, and responsive solutions for resource optimization. The average data volume generated by smartphone subscriptions, video content viewers, and mobile phone users will require advanced network infrastructure. Telecommunication operators and equipment manufacturers are investing in global roaming capabilities, spectrum harmonization, and frequency bands to meet the demands of 5G subscribers. The smart cities segment will see the implementation of 5G in urban infrastructure, enabling smart city initiatives, city management processes, and real-time data exchange for applications such as traffic management, emergency response systems, and public services. The IoT sensors in smart cities will monitor air quality, traffic patterns, energy consumption, and traffic flow, enabling congestion management and urban planning. The 5G services market will also impact industries such as IT and telecom, manufacturing, healthcare, and transportation, with applications such as Virtual Reality (VR), Augmented Reality (AR), UltraHigh Definition (UHD), and 6G technology. The market will also see the growth of FWA 5G Services, Enhanced Mobile Broadband, smart manufacturing, telemedicine, autonomous vehicles, edge computing, industrial automation, and smart city systems. The deployment of small cells, fiber optic networks, radio equipment, and base stations will be essential for the growth of the 5G services market. The market will also see the implementation of predictive maintenance, monitoring, and smart devices in manufacturing facilities, as well as the development of speed-based tariff plans and fixed broadband services. The 5G services market will revolutionize the way we live, work, and communicate, providing rapid data exchange and enabling new applications and services.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

TechnologyEMBBFWAMMTCURLLCEnd-userConsumersEnterprisesGeographyNorth AmericaAPACEuropeMiddle East And AfricaSouth America

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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IRIS Software Group Announces Intent to Acquire Dext Software Ltd.

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Acquisition to create an integrated, end-to-end solution, advance partner integrations, and drive product innovation for accountants and businesses globally 

LONDON, Dec. 3, 2024 /PRNewswire/ — IRIS Software Group (IRIS), a leading global provider of accountancy, education management, HR and payroll solutions, today announced a definitive agreement to acquire Dext Software Ltd (Dext), a leading bookkeeping automation platform provider. The acquisition will unite two sector-leading cloud-based platforms – Dext’s Bookkeeping Automation Platform and IRIS Elements – to deliver a complementary and fully integrated, end-to-end solution for accountants, bookkeepers, and businesses. 

On one side of the accounting value chain, IRIS Elements supports accountants and businesses with practice management and compliance functionality, such as accounts production and tax returns. On the other, Dext simplifies bookkeeping and improves productivity by automating routine tasks with AI. Together, both companies will cover the entire end-to-end accountancy workflow, from data entry and processing to compliance, reporting and advisory services. 

Currently, many accountants and businesses face “app fatigue” juggling multiple, disconnected tools to get their daily work done. Through integration, IRIS and Dext’s cloud platforms will connect seamlessly with a secure single sign-on (SSO) and share data effortlessly back and forth across both platforms. This will, effectively, create a single, end-to-end view of the entire accountancy workflow. By expanding the global digital footprint in countries like the UK, Canada, France and Australia, the acquisition will also support accountants in staying ahead of rapidly evolving global regulatory and compliance requirements. 

Commenting on the agreement, Elona Mortimer-Zhika, CEO of IRIS Software Group said, “With today’s exciting news, we are bringing together our amazing customers, partners, and employees to drive the future of tech in the accountancy industry. We are doubling down on our promise to build and offer the most compliant cloud solutions that deliver our customers the highest levels of productivity and engagement, giving them back the critical time they need to advise their clients, grow their businesses, and do what they love. Accountancy has been the heartland of IRIS for 46 years; together with Dext we have a shared passion to be the biggest supporters and best champions of accountants, globally.”

The transaction will allow IRIS to accelerate Dext’s product roadmap, infuse additional capital and enhance its partner integration program, which already connects to over 35 bookkeeping software platforms and over 11,500 banks & financial institutions. Both IRIS and Dext share a general ledger (GL)-agnostic strategy, ensuring their platforms can integrate with a wide array of accounting software and every bookkeeping provider – connecting multiple workflow streams and providing customers with unparalleled freedom of choice. Accountants and bookkeepers will have the flexibility to use their preferred bookkeeping tools while enjoying the benefits of a smooth, cohesive user experience. 

Sabby Gill, CEO of Dext added, “Joining forces with IRIS marks an exciting new chapter for Dext. This partnership enables us to accelerate our product innovation, deepen our integration program, and deliver a complete, end-to-end solution to our customers. I look forward to working alongside the IRIS team to unlock new opportunities for our customers and offer our team members expanded opportunities for personal and professional growth.” 

Upon closing, Sabby Gill will form part of the IRIS Global Executive team. The transaction is subject to customary closing conditions and is expected to be finalised by the end of this calendar year.  

Media contact:   
IRIS Software Group  
news@irisglobal.com  

About IRIS Software Group 
Founded in 1978, IRIS Software Group is a global provider of mission critical, cloud-hosted software solutions and services to more than 100,000 customers across 135 countries. IRIS is a trusted partner to businesses, finance, HR and payroll teams, educational organisations, and accountancy firms of all sizes, providing innovative operational solutions that streamline complex processes, maintain compliance, and unlock growth. Through simplifying, automating and providing insights on everyday mission critical tasks for organisations of all shapes and sizes, IRIS ensures customers can look forward with certainty and confidence. IRIS is certified as a 2024 Great Place to Work® in the UK, Ireland, India, Romania, Canada and the USA. Follow IRIS on Facebook, TwitterInstagram and LinkedIn. More information on its award-winning software solutions can be found here.    

About Dext
Dext is the leading provider of bookkeeping automation, empowering businesses, accountants, and bookkeepers to thrive through innovative technology that simplifies accounting processes and drives smarter, more timely financial decisions. With financial data extraction accuracy of 99.5%, Dext has been trained on over 1 billion receipts and invoices.

Trusted by 12,000 accounting and bookkeeping firms and 700,00 businesses, Dext seamlessly integrates with most major accounting software and connects to over 11,500 banks, suppliers, and marketplaces worldwide. To date, the company has saved bookkeepers more than 35 million hours of manual data entry. As the global leader in bookkeeping automation, Dext maximizes efficiency and boosts productivity, liberating its customers to focus on what truly maters to them.

Dext was awarded the 2024 Xero Small Business App of the Year in both the UK and the US, plus Best Accounting and Pre-Accounting Specialists 2023 at the Worldwide Finance Awards 2023.

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SOURCE IRIS Software Group

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AC Health makes critical HIV care more accessible to Filipinos with USAID support

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MANILA, Philippines, Dec. 3, 2024 /PRNewswire/ — Ayala Healthcare Holdings, Inc. (AC Health), in partnership with the U.S. Agency for International Development (USAID), is leading the private sector’s efforts to fight the HIV epidemic in the Philippines by improving access to stigma-free care and lifesaving services.

The partnership was sealed in time for World AIDS Day, whose theme “Collective Action: Sustain and Accelerate HIV Progress,” underscores the importance of collaboration to overcome this health challenge.

AC Health will leverage its unique ecosystem to develop, test, and scale approaches to improving and expanding HIV care and prevention services in the Philippines. AC Health will onboard qualified health service providers on the KonsultaMD platform and expand HIV awareness and screening services beyond health facilities. It will also import essential medicines and other lifesaving technologies through units IE Medica and MedEthix and make these commercially available through Generika Drugstore.

An important ally in the Philippines’ fight against HIV, USAID will support community engagement, provide technical assistance to Healthway Medical Network, and introduce private sector models for HIV service delivery. USAID will also train healthcare providers, share research, expand telehealth access through KonsultaMD, and coordinate with partners to provide free HIV self-testing kits.

“Our mission at AC Health is to make quality and affordable healthcare accessible to more Filipinos. Through our partnership with USAID, our dedicated teams at Healthway Medical Network, KonsultaMD, and Generika Drugstore have been equipped with specialized training to serve key populations affected by HIV. This collaboration brings us closer to bridging gaps in HIV prevention and testing, ensuring these critical services reach more communities nationwide,” said AC Health Chairman Fernando Zobel de Ayala.

The partnership is a key initiative to support the Philippines in addressing one of the fastest-growing HIV epidemics in Southeast Asia. AC Health’s participation also highlights its growing role in responding to public health challenges in the country.

AC Health, in partnership with Publicis Groupe Philippines and the People Management Association of the Philippines, is also leading the “Working with Cancer Pledge” in the country. This initiative is a global movement to raise awareness and support for people struggling with cancer in the workplace. Since its launch in 2023, hundreds of companies globally have been transformed into inclusive workplaces for employees dealing with cancer. 

AC Health, a wholly-owned subsidiary of Ayala Corporation, aims to provide every Filipino accessible, affordable, and quality healthcare. Its portfolio includes Generika Drugstore, the pioneer in generic retail pharmacies; St. Joseph Drug, a leading retail drugstore chain in North Luzon; IE Medica and MedEthix, a major pharmaceutical importer and distributor; Healthway Medical Network, a network of multi-specialty clinics, ambulatory centers, and full-service hospitals; and KonsultaMD, a healthcare aggregator app that offers online consultations, medicine delivery, and clinic and diagnostic booking. Through its three pillars—pharma, hospitals and clinics, and digital health—AC Health creates a seamless and integrated healthcare ecosystem for the Filipino patient.

About Ayala Corporation

For 190 years, Ayala Corporation has been building businesses that enable people to thrive.

Ayala, currently one of the largest conglomerates in the Philippines, has meaningful presence in real estate, banking, digital solutions, and renewable energy. It likewise has a growing presence in healthcare, mobility, and logistics as well as investments in industrial technologies, education, and other ventures. Ayala manages its corporate social responsibility initiatives through Ayala Foundation.

Visit our website at https://ayala.com and by follow us on LinkedIn to learn more about the company.  

 

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SOURCE Ayala Healthcare Holdings, Inc.

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CLAIRE’S CONTINUES MOMENTUM IN BEAUTY WITH THE INTRODUCTION OF C BY CLAIRE’S

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The exclusive, new collection of luxurious body care and fragrances is inspired by and tailored to Gen Zalpha’s everyday lifestyles

HOFFMAN ESTATES, Ill., Dec. 3, 2024 /PRNewswire/ — Global fashion brand Claire’s is continuing its evolution within the beauty category with the launch of C by Claire’s, an exclusive line of fragrances and body care products designed to help Gen Zalpha feel their most confident. Building on the success of Claire’s existing body care product collection, the new line gives consumers even more bespoke scents to love and furthers Claire’s impact in the category.

The new collection features luxurious foaming moisturisers, bath and body scrubs, fragrances, hair and body mists, and more, meeting consumers’ demands for beauty products that help them feel empowered in the same way that the brand’s signature fashion accessories have for over 50 years. C by Claire’s is crafted with high-quality ingredients in delightful, original scents like Cherry Bliss, Cloudberry Fizz, Watermelon Kiss, and Salted Caramel, with many catering to the growing gourmand scent trend. Each product is presented in vibrant packaging that reflects the bold, expressive spirit of Claire’s and its consumers.

A marquee of this collection, Claire’s is introducing an all-new signature fragrance, aptly titled “Be The Most” in a nod to the brand’s platform rooted in self-expression. The fragrance boasts a delicate blend of pistachio, vanilla musk, silky sandalwood, and Italian citrus, ideal for both everyday wear and special occasions.

“At Claire’s, we continually seek innovative ways to engage with our consumers and provide the products, categories, and experiences that excite them,” said Meghan Hurley, VP of Marketing at Claire’s. “We know beauty is a space that our Gen Zalpha consumers are passionate about, and we’re thrilled to give them another avenue to express themselves through this new collection.”

Supporting the collection is Claire’s CGI-centric Christmas campaign which comes to life across the brand’s retail, digital and social channels spotlighting Claire’s as the ultimate destination for the gift-giving season across jewellery, toys, tech and more. In time for the festive season, the line also includes gift sets and a “7 Days of Claire’s” advent calendar with daily surprises that are sure to delight.

C by Claire’s is the latest launch in Claire’s evolution into a full-fledged Gen Zalpha lifestyle brand. Priced from £12.00 to £25.00, C by Claire’s is now available in stores and online at Claires.com and will further expand with new products to love, offering even more reasons to shop at Claire’s. Follow along @Clairesstores to stay in the know on the latest collections, style tips, and more.

About Claire’s Holdings LLC
Claire’s Holdings LLC is a fully integrated, global fashion brand powerhouse committed to inspiring self-expression through the creation and delivery of exclusive, well-curated products and experiences. For over 50 years, Claire’s has been a destination for the curious, creative and influential and an industry-leader in ear piercing services, delivering a trendsetting assortment of fashion products and accessories that help young people worldwide style and define themselves. Through its global brands, Claire’s® and Icing®, the company delivers an immersive, omnichannel shopping experience with owned and concession stores throughout North America and Europe as well as franchise stores in the Middle East and South Africa. More information regarding Claire’s is available at corporate.claires.com.

MEDIA CONTACTS
Katie Settle, Katie.Settle@claires.com

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