According to the report analysis, ‘South Korea 5G Market (2018-2025)’ states that some of the major key players are recently functioning in this market for attaining the highest market share by doing an attractive developments includes SK Telecom, KT, LGU+ and several others. Moreover, it is expected that the 5G market in South Korea show a triple-digit growth rate throughout the forecasted period. Furthermore, the several key players are dominating the market by adopting the effective market strategies and policies which further proved to be beneficial for leading the highest market growth during the reviewed period. By 2020, it is anticipated that the penetration rate of 5G will be 5% and subscriber would upsurge from 30% in 2020 to 90% in 2026 out of the total mobile subscribers.
The technology of 5G is newly updated and introduced in the market of South Korea which has grown more actively whereas, the 5G technology refers to the fifth generation of mobile technology which made the communication more attractive and fruitful for both the sender and receiver. In addition, it is predicted to gather the need and provide the business frameworks needed by and beyond 2020. Additionally, to operate the connected society, 5G wireless technology will result about socio-economic diversifications with the sustainability, productivity and well-being. Not only has this, the legal authorities in the country focuses to organize commercial 5G network facilities by the second half of 2019. Furthermore, the time passes, the populace of South Korea is shifting more actively towards the 5G therefore, the South Korea plans to frame 5G network at very highly reputed region to save the money and time. The key players of this market in South Korea are playing an important role by doing an effective developments in the technology of 5G for dominating the growing requirement of potential buyers for leading the fastest market growth in the forecasted period.
By 2018, the operating companies of South Korea network plan to invest USD 9.36 Billion on 5G. The top three South Korean telecom companies will begin commercial functions on 5G by 2019 and shape nationwide 5G infrastructure by 2020. For instance, South Korea faces growth challenges, such as regulatory pressures, and new operator launches. Meanwhile, the major growth factors enhance the dynamic of South Korea 5G market which continue the evolution towards heightened bandwidth, lower latency, improved the security and openness of mobile networks. Therefore, the market of South Korea will grow in the near future more significantly.
The 5G market of South Korea is categorized into SIM cellular connections and SIM M2M cellular connections. These are further split into data per user, and 5G data traffic for each classifications. In South Korea, SIM cellular connections grasp the mainstream of the market share, whereas SIM M2M cellular connections are predicted to increase at a growing rate. Therefore, in the coming years, it is expected that the market of 5G in South Korea will grow more significantly over the recent few years with the effective investment by the new entrants.
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Ankur Gupta, Head Marketing & Communications