Saudi Arabia 5G Service Market to Grow with Double Digit CAGR until 2026
Consistent penetration of
fast speed internet is driving the growth of Saudi Arabia 5G Service Market, in
the forecast period, 2022-2026.
According to TechSci report on, “Saudi Arabia 5G Service Market By End Users
(Individual, Enterprises) By Application (Smart Cities, Connected Factories,
Smart Buildings, Connected Vehicles, Connected Healthcare, Connected Retail,
Smart Utilities, Others) By Communication Type (Fixed Wireless Access, Enhanced
Mobile Broadband, Massive Machine-Type Communication, Ultra-Reliable
Low-Latency) By Industry (Manufacturing, Media & Entertainment, Government,
Energy & Utilities, Transportation & Logistics, Healthcare, Others) By
Region, Competition Forecast & Opportunities, 2026”, Saudi
Arabia 5G services market
has shown promising growth in historical years until 2019 and is expected to
continue its growth in upcoming forecast years 2021 to 2026. Saudi Arabia 5G services
market owes its growth to the factors like rapidly innovating reality and
augmented virtualizations along with growing number of applications. Moreover, number
of consumers for smart phones and tablets are rapidly increasing in the country
and the fact is anticipated to aid to the exponential growth in the upcoming
five years.
5G network
connections gives the advantage of connecting multiple device at once and with
the efficient working and internet connections, multiple consumer electronics
that are incorporated with smart technologies, may support the growth of the
Saudi Arabia 5G services market until 2026.
5G services
involve 5G internet connections allowing the users to enjoy faster downloads,
outstanding network reliability, making businesses efficient, etc. 5G services
find their application in ultra-high definition video streaming, seamless video
calling, smart home energy management, etc. Though government schemes and
policies may put a minor delay in the growth, but rapidly increasing market
players might outgrow the restraint in the subsequent years of forecast, until
2026.
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Saudi
Arabia 5G services market is segmented by end users, application, communication
type, industry, regional distribution, and competitional landscape. Based on
application, the market is further bifurcated into smart cities, connected
factories, smart buildings, connected vehicles, connected healthcare, connected
retail, smart utilities, and others. Rapidly evolving technologies and their
usage in the smart buildings is supporting the infrastructure industry.
Internet connected factories; smart buildings are anticipated to hold the
largest shares of the market segment in the upcoming five years. Moreover, the
developments in the healthcare industry may register the fastest growing CAGR
in the upcoming five years. On the account of the evolving medical devices, and
services in the healthcare sector.
Based
on communication type, the market is sub-segmented as fixed wireless access,
enhanced mobile broadband, massive machine-type communication, and ultra-reliable
low-latency.
A partial list
of market player in the Saudi Arabia 5G service market includes Mobile
Telecommunication Company Saudi Arabia K.S.C.P. (Zain), Saudi Telecom Company,
Etihad Etisalat Company (Mobily), Integrated Telecom Company, Huawei Tech
Investment Saudi Arabia Co. Ltd., Etihad Atheeb Telecommunications Co. (GO
Telecom), Virgin Mobile KSA, Arab Satellite Communications Organization,
Hewlett Packard Enterprise Int'l Trade BV Saudi, Nokia Al Saudia, among others.
These market players hold larger shares of the market than the new market
players. With the advancement of the technology, it is appropriate to say that
the effective research and development of the technologically advanced services
would support the market growth and benefit the market players as well as the
consumers. New market players may focus on the research and development to
provide services that satisfies the consumer demand as well as benefits the
market players in building their brand value. Other competitive strategies
include mergers & acquisitions and new product developments and better
service provisions.
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“5G internet connections are a revolutionary telecommunication services
that has aided the uses of technology in various industry. The Kingdom of Saudi
Arabia is one of the wealthiest economies and with the technological
advancements they can afford, 5G connections to the smart infrastructure, smart
healthcare, smart retail in going to multiply in the future five years. The
Saudi Arabia 5G services market is anticipated to grow further in the upcoming
five years on the account of the advancements that the country has incorporated
into its various industries. Media and entertainment sector is experiencing the
largest growth in the historical years and sees itself as a promising sector
for the future of the market. New market players may integrate their services
in various industry so as to bring revolutionizing growth in future,” said Mr.
Karan Chechi, Research Director with TechSci Research, a research based global
management consulting firm.
“Saudi Arabia 5G Service
Market By End Users (Individual, Enterprises) By Application (Smart Cities,
Connected Factories, Smart Buildings, Connected Vehicles, Connected Healthcare,
Connected Retail, Smart Utilities, Others) By Communication Type (Fixed
Wireless Access, Enhanced Mobile Broadband, Massive Machine-Type Communication,
Ultra-Reliable Low-Latency) By Industry (Manufacturing, Media &
Entertainment, Government, Energy & Utilities, Transportation &
Logistics, Healthcare, Others) By Region, Competition Forecast &
Opportunities, 2026” has
evaluated the future growth potential of Saudi Arabia 5G services market and
provides statistics & information on market size, structure and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision makers take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers, challenges,
and opportunities in Saudi Arabia 5G services market.
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