5G Enterprise Market Size to See Huge Growth of $16,846 Million by 2028 CAGR of 33.9%

5G Enterprise Market Value

The growth of the global 5G enterprise market is driven by increased network slicing for 5G services and rising penetration of smartphones and wearables.

WILMINGTON, DE, UNITED STATES, December 13, 2024 /EINPresswire.com/ — Asia-Pacific is expected to exhibit highest growth during the forecast period, owing to strong economic growth along with the ongoing development in the telecom sector, which drives organizations to invest heavily in 5G Enterprise to sustain growth and improve productivity.

In addition, factors such as major shift toward digital transformation, rise in cloud deployment and technological advancement among small & medium businesses, and ongoing modernization of telecommunication networks such as 5G networks drive heavy investment in 5G Enterprise in emerging economies. Furthermore, key players in Asia-Pacific are focusing on enhancing their operations and increasing their overall efficiency to stay competitive in the market, which is expected to provide lucrative opportunities for the growth of the 5G enterprise market during the forecast period.

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According to a recent report published by Allied Market Research, titled, “5G Enterprise Market by Frequency, Spectrum, Network Type, Organization Size, Industry Vertical, and Region: Global Opportunity Analysis and Industry Forecast, 2020-2028,” the 5G enterprise market size was valued at $1,682 million in 2020, and is projected to reach $16,846 million by 2028, growing at a CAGR of 33.9% from 2021 to 2028.

Use of 5G enterprise solutions among the end users has increased in the last few years due to adoption of new cutting edge technologies in various organizations and rise in competition to create new mile stone in communication sector. In addition, increase in demand for next generation telecommunication network service among enterprises fuels the growth of the market. Furthermore, increase in need for interactive, efficient and cost-effective communication and data service along with emerging technology such as internet of things and artificial intelligence are expected to provide lucrative opportunities for the expansion of the market during the forecast period.

The key 5G enterprise industry players profiled in the report are AT&T, Ericsson, Huawei technologies co. Ltd., Juniper Network, NEC corporation, Nokia Corporation, Samsung, SK Telecom, Verizon Communications LTD, ZTE corporation.. This study includes 5G enterprise market trends, analysis, and future estimations to determine the imminent investment pockets.

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Latest Key Industry Developments:

May 2024: Nokia partnered with China Mobile to deploy private 5G networks for industrial automation in Chinese manufacturing plants, significantly boosting productivity and reducing downtime through real-time monitoring.

January 2024: Verizon launched its 5G Ultra Wideband service for enterprises in the U.S., offering enhanced connectivity and latency for industries such as logistics and healthcare. The service provides customized solutions for real-time data analytics and IoT deployments.

November 2023: Ericsson introduced its 5G RAN slicing solution for enterprises, enabling European businesses to implement dedicated 5G networks with optimized resources for different use cases like remote surgery and autonomous vehicles.

On the basis of frequency, the sub-6Ghz segment dominated the overall 5G enterprise market in 2020, and is expected to continue this trend during the forecast period. This is attributed to the increase in the adoption of 5G enterprise among enterprises to gain strategic as well as competitive advantage over their competitors. In addition, it provides wide coverage area and allows full network inside the close places such as house and offices, which drives the growth of the Market. However, the mmWave frequency segment is expected to witness highest growth, as this mmWave 5G technology allows a large number of users to connect one access point which is useful in the dense populated area in the metropolitan city. The adoption of this technology speeds up new business implementation, maximizes the value of existing mobile and wearable resources by optimizing it, and minimizes the data cost, which further fuel the 5G enterprise market growth.

Depending on spectrum, the licensed segment dominated the 5G enterprise market share in 2020, and is expected to continue this trend during the forecast period. The growth of the segment is attributed to numerous benefits provided by this spectrum type such as high quality of connectivity, which results in lower costs if there is the addition of new resources, high security, and others. However, the unlicensed/ shared segment is expected to witness highest growth in the 5G enterprise market owing to growing adoption of unlicensed infrastructure due to its cost-effective and standalone operation, that the operation of unlicensed spectrum is not depend on any communication operator service which notably contributes toward the growth of the global market.

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Based on organization size, large-scale organizations dominated the 5G Enterprise market share and are expected to continue this growth during the forecast period. This growth is attributed to heavy investment of large-scale organization in the 5G networks. Also, the growing requirement of high-speed internet in large scale organizations drives the 5G enterprise market. However, the small and medium scale organization recorded highest growth segment due to major shift of small and medium-scale business toward digitization and adoption of the Internet of Things in regular operation, which drives the market globally.

The COVID-19 pandemic has been a defining moment, The COVID-19 outbreak has positively impacted the growth of the global 5G Enterprise market, to ease business operation during the COVID-19 pandemic, the governments of various emerging countries along with the private sectors companies are working together to speed up the development of 5G Enterprise and network. Moreover, due to the outbreak of COVID-19 pandemic, almost all employees are working from home or their native place. Factors, such as working from home (WFH), and digital transformation of businesses, have become key components in the emergence of 5G enterprise. However, during lockdown, the implementation of 5G enterprise is slightly affected due to limited supply of auxiliary equipment such as optical fiber wire and micro stations. Furthermore, in the post-lockdown scenario, the growth of 5G enterprise is expected to increase as the demand grows for high speed low latency internet. This is expected to drive the 5G enterprise market globally.

Key Findings Of The Study

By frequency, in 2020, the sub-6Ghz segment dominated the 5G enterprise market size. However, the mmWave segment is expected to exhibit significant growth during the forecast period.

On the basis of organization size, the large scale enterprise segment accounted for the highest revenue of global market in 2020; however, the small and medium scale enterprise segment is expected to witness the highest growth rate during the forecast period.

Depending on spectrum, the licensed spectrum segment generated the highest revenue in 2020. However, the unlicensed/ shared spectrum segment is expected to witness the highest growth rate in the near future.

Region-wise, the 5G enterprise industry was dominated by North America. However, Asia-Pacific is expected to witness significant growth in the coming years.

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