At 4.8% Global CAGR of 5G in Tour and Travel Market Size Worth $24,008 Million by 2028: Market Research Store

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

Key Industry Insights & Finding of the 5G in Tour and Travel Market Reports:

  • As per the analysis shared by our research analyst, the 5G in Tour and Travel Market is expected to grow annually at a CAGR of around 4.8% (2021 – 2026).
  • Through the primary research, it was established that the 5G in Tour and Travel Market was valued approximately USD 24,008 Million in 2020 and is projected to reach to roughly USD 32,600.5 Million by 2028.
  • The United States is home to some of the largest telecom companies in the world, including AT&T, Verizon, Ericsson

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

5G in Tour and Travel Market: Overview

The transformation to the 5G ecosystem is expected to witness a 3–4 times faster growth rate than other connectivity transformations. This is primarily due to the rapid advancement of networking virtualization, as well as the growing number of applications that require a latent-free connection. Faster data speeds and extremely low latency offered by the 5G technology would improve the user experience of Virtual Reality and Augmented Reality seamless video calling, and Ultra-High Definition (UHD) videos. More remote spots of a destination can be shared on social media with the addition of 5G and an improved connection for travelers, creating a more connected tourist experience and helping to spread the economic benefits of tourism around an area.

Because of the aforementioned considerations, rapid acceptance of 5G services is expected, followed by a rapid rollout of 5G services by other developing economies. The United States, the United Kingdom, South Korea, China, Japan, and Germany are among the countries anticipated to implement 5G services first. Early adopters are expected to be countries with a strong 4G infrastructure. Countries with flexible IoT connection platforms are expected to transition to 5G services fast.

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  • 2022 Updated Regional Analysis with Graphical Representation of Size, Share & Trends
  • Includes Updated List of tables & figures
  • Updated Report Includes Top Market Players with their Business Strategy, Sales Volume, and Revenue Analysis
  • Market Research Store methodology

Industry Dynamics:

5G in Tour and Travel Market: Growth Dynamics

5G networks give a 1 Gbps and 10ms enhanced internet experience, as well as a foundation for cloud and AI-based services. Various data-intensive applications, both personal and business-to-business, are gaining traction in the travel and tourism industry.

The growing popularity of IoT use cases in the industries that require connectivity over broad areas and the ability to handle many connections has fuelled demand for the 5G market. Massive IoT is quickly 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 are still relying on current cellular IoT standards, such as NB-IoT. The massive spread of intelligent IoT nodes for a variety of situations is projected to be supported by 5G networks, becoming one of the reasons for large market growth.

Global 5G in Tour and Travel Market: Segmentation

The market can be segmented into communications. Considering communication types, 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 expected to grow at the highest growth rate during the forecast period. The most significant value of 5G will not come from connecting people, but from its ability to provide seamless connectivity to infrastructures, machines, and things. 

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

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

Key questions answered in this report:

  • What are the growth rate forecast and market size for 5G in Tour and Travel Market?
  • What are the key driving factors propelling the 5G in Tour and Travel Market forward?
  • What are the most important companies in the 5G in Tour and Travel Market Industry?
  • What segments does the 5G in 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

USD 24,008 Million

Revenue forecast in 2028

USD 32,600.5 Million

Growth Rate

CAGR of almost 4.8% 2021 – 2026

Base Year

2020

Historic Years

2016 – 2021

Forecast Years

2021 – 2026

Segments Covered

By Product Type, By Application, and By End Use

Forecast Units

Value (USD Million), 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, and Middle East & Africa, and Rest of World

Countries Covered

U.S., Canada, Mexico, U.K., 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 S.A., Vodafone, China Unicom, T-Mobile, Telstra, Telefonica, KT, Rogers, and LG U+.

Report Coverage

Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.

Customization Scope

Avail customized purchase options to meet your exact research needs.  

Regional Dominance:

  • Demand for 5G services in the region over the projection period.

The United States is home to some of the largest telecom 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 breakthroughs. Over the projection period, this is projected to enhance the uptake of 5G services.

Moreover, Canadian service providers are expanding their investments in 5G license acquisition, which will increase demand for 5G services in the region over the projection period. 

Global 5G in Tour and Travel Market is segmented as follows:

 5G in Tour and Travel Market: By Communication Type Outlook (2021 – 2026)

  • Fixed Wireless Access
  • Enhanced Mobile Broadband
  • Ultra-Reliable and Low Latency Communication
  • Massive machine Type Communication
  • Online Channels

5G in Tour and Travel Market: By Region Outlook (2021 – 2026)

North America

Europe

  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe

Asia Pacific

  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific

Latin America

  • Brazil
  • Mexico
  • Rest of Latin America

Middle East & Africa

  • GCC
  • South Africa
  • Rest of Middle East & Africa

Press Release For 5G in Tour and Travel Market: https://www.marketresearchstore.com/news/5g-in-travel-and-tourism-market

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