5G Enterprise Market Size Expands with Increased Network Capacity Demands | Estimated to Cross USD 16.84 Billion by 2028
Growing demand for high-speed, low-latency connectivity, IoT adoption, and edge computing are key drivers propelling the 5G Enterprise market growth.
PORTLAND, OREGON, UNITED STATES, August 2, 2023/EINPresswire.com/ — The size of the 5G Enterprise Market, which was estimated to be worth $1,682 million in 2020, is expected to increase to $16,846 million by 2028, rising at a CAGR of 33.9% between 2021 and 2028.
The adoption of new cutting-edge technologies in numerous businesses and the growth in rivalry to set new benchmarks in the communication sector have led to an increase in the use of 5G corporate solutions among end users in recent years. The market is expanding as a result of rising company demand for next-generation telecommunications network services.
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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 increase in 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 allow full network inside the close places such as house and offices, which drives the growth of the Market.
The 5G Enterprise market is witnessing several trends that are reshaping the business landscape. Firstly, the proliferation of Internet of Things (IoT) devices is driving the adoption of 5G in enterprises. 5G’s low latency and high bandwidth capabilities enable seamless connectivity and efficient data transfer, making it an ideal choice for IoT applications in industries like manufacturing, logistics, and healthcare.
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The rise of edge computing is influencing the 5G Enterprise market. Edge computing allows data to be processed closer to the source, reducing latency and enabling real-time analysis. With 5G’s ability to support edge computing at scale, enterprises can deploy edge solutions to optimize their operations, enhance decision-making, and improve overall efficiency.
The demand for private 5G networks is gaining momentum. Enterprises are increasingly looking for dedicated and secure 5G networks tailored to their specific needs. Private 5G networks offer enhanced security, reliability, and control, making them attractive to industries with critical communication requirements, such as manufacturing plants, utilities, and large corporate campuses.
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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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