At 4.8% CAGR of global 5G in travel and travel market size worth $24,008 million by 2028: Market Research Store

NEW YORK , May 2, 2022 /PRNewswire/ — According to Market Research Store research, The global demand for 5G in the travel and tourism market was estimated at approximately $24,008 million in 2020 and is expected to generate revenue of approximately $32,600.5 million by the end of 2026, growing at a CAGR of around 4.8% between 2021 and 2026.

Key Industry Insights and Discovery of 5G in Travel and Travel Market Reports:

  • According to the analysis shared by our research analyst, 5G travel and travel market is expected to grow annually at a CAGR of around 4.8% (2021 – 2026).

  • Through primary research, it has been established that 5G in travel and travel market is valued at around $24,008 million in 2020 and is expected to reach approximately $32,600.5 million by 2028.

  • United States is home to some of the largest telecommunications companies in the world, including AT&T, Verizon, Ericsson

Market Research Store released the latest report titled “5G in Travel & Tourism Market by Communication Type (Fixed Wireless Access, Enhanced Mobile Broadband, Ultra-Reliable and Low-Latency Communication, Massive Machine-Type Communication, and Online Channels): Industry Perspective Global, Comprehensive Analysis and Forecast, 2021-2026.” in their research database.

5G in the tour and travel market: overview

The transformation to the 5G ecosystem is expected to experience a growth rate 3 to 4 times faster than other connectivity transformations. This is mainly due to rapid advances in network virtualization, as well as the growing number of applications requiring a zero-latency connection. Faster data speeds and extremely low latency offered by 5G technology would improve the user experience of seamless video calls in virtual reality and augmented reality, and ultra-high definition (UHD) videos. Places further away from a destination can be shared on social media with the addition of 5G and better connectivity for travellers, creating a more connected tourism experience and helping to spread the economic benefits of tourism across an area.

Due to the above considerations, rapid acceptance of 5G services is expected, followed by rapid deployment of 5G services by other developing economies. United Statesthe UK, South Korea, China, Japanand Germany are among the countries expected to implement 5G services first. The first users are expected to be countries with strong 4G infrastructure. Countries with flexible IoT connection platforms should move quickly to 5G services.

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Industry dynamics:

5G in the tour and travel market: growth momentum

5G networks provide an improved Internet experience of 1 Gbps and 10 ms, as well as a foundation for cloud-based and AI-based services. Various data-intensive applications, both personal and business-to-business, are gaining momentum in the travel and tourism industry.

The growing popularity of IoT use cases in industries that require connectivity over large areas and the ability to handle many connections has fueled the demand for the 5G market. Massive IoT is rapidly becoming a new focus for IoT connectivity technology. Massive IoT is an exciting possibility for 5G, but in the early stages of the technology, telcos still rely on current cellular IoT standards, such as NB-IoT. The massive spread of smart IoT nodes for a variety of situations is expected to be supported by 5G networks, becoming one of the reasons for the high market growth.

Global 5G in Tour and Travel Market: Segmentation

The market can be segmented into communications. Considering the types of communication, it is categorized into fixed wireless access, enhanced mobile broadband, ultra-reliable and low-latency communication, massive machine-type communication, and online channels. The segment is expected to grow at the highest growth rate over the forecast period. 5G’s greatest value will not come from connecting people, but from its ability to provide seamless connectivity to infrastructure, machines and things.

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List of Key 5G Players in Travel and Travel Market:

  • AT&T

  • SK Telecom

  • Verizon

  • China-Mobile

  • BT

  • Bell Canada

  • Etisalat

  • CS

  • Deutsche Telekom

  • China Telecom

  • Orange S.A.

  • Vodafone

  • China Unicom

  • T-Mobile

  • will

  • Telefonica

  • kt

  • roger

  • LG U+.

Answers to key questions in this report:

  • What is the forecasted growth rate and market size of 5G in travel and travel market?

  • What are the major driving factors propelling 5G in travel and travel market?

  • Which are the most prominent 5G companies in travel and travel market industry?

  • What segments does 5G in the tour and travel market cover?

  • How can I receive a free copy of the 5G in Tour and Travel Market sample report and company profiles?

Report Scope:

Report attribute

Details

Market size value in 2020

$24,008 million

Revenue forecast in 2028

USD 32,600.5 Million

Rate of growth

CAGR of almost 4.8% 2021 – 2026

base year

2020

Historical years

2016 – 2021

Forecast years

2021 – 2026

Segments Covered

By product type, by application and by end use

Forecast units

Value (million USD) and volume (units)

Quantitative units

Revenue in USD Million/Billion and CAGR from 2022 to 2028

Regions covered

North America, Europe, Asia-Pacific, Latin America, Middle East and Africa, and Rest of the World

Countries covered

United States, Canada, Mexico, United Kingdom, Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC countries and South Africa, among others

Companies covered

AT&T, SK Telecom, Verizon, China Mobile, BT, Bell Canada, Etisalat, STC, Deutsche Telekom, China Telecom, Orange SA, Vodafone, China Unicom, T-Mobile, Telstra, Telefonica, KT, Rogers and LG U+.

Report cover

Market Growth Drivers, Restraints, Opportunities, Porter’s Five Forces Analysis, PEST Analysis, Value Chain Analysis, Regulatory Landscape, Market Attractiveness Analysis by Segments & Region, Market Share Analysis business and analysis of the impact of COVID-19.

Scope of customization

Take advantage of personalized purchasing options to meet your exact research needs.

Regional dominance:

United States is home to some of the largest telecommunications companies in the world, including AT&T, Verizon, Ericsson and others, all of which are constantly investing in expanding and improving their infrastructure to keep up with technological advancements. Over the projection period, this should improve the adoption of 5G services.

Additionally, Canadian service providers are increasing their investments in acquiring 5G licenses, which will increase the demand for 5G services in the region during the projection period.

The global 5G in tour and travel market is segmented as follows:

5G in Travel and Travel Market: Outlook by Communication Type (2021-2026)

  • Fixed wireless access

  • Enhanced Mobile Broadband

  • Ultra-reliable, low-latency communication

  • Massive Machine Type Communication

  • Online channels

5G in Travel and Travel Market: Outlook by Region (2021-2026)

North America

Europe

  • France

  • Great Britain

  • Spain

  • Germany

  • Italy

  • Rest of Europe

Asia Pacific

  • China

  • Japan

  • India

  • South Korea

  • South East Asia

  • Rest of Asia Pacific

Latin America

  • Brazil

  • Mexico

  • Rest of Latin America

Middle East & Africa

Press release for 5G in the tour and travel market: https://www.marketresearchstore.com/news/5g-in-travel-and-tourism-market

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