New York, NY, Oct. 12, 2023 (GLOBE NEWSWIRE) -- Polaris Market Research has broadcasted a recent study report titled "5G Enterprise Market Share, Size, Trends, Industry Analysis Report, By Access Equipment (Radio Node, Service Node, DAS); By Core Network Technology; By Services; By Organization Size; By End-Use; By Region; Segment Forecast, 2023 – 2032” in its research database.
In accordance with Polaris Market Research, the global 5G enterprise market size/share worth was estimated at USD 3,464.9 Million in 2022 and is anticipated to expand to USD 304,496.3 Million at a CAGR of 58.8% during the forecast period of 2032. The large enterprises segment held a significant revenue share, due to market expansion driven by organizations investing in 5G networks and the increasing demand for high-speed internet connectivity.
What Does 5G Mean for Enterprise? How Big is the 5G Enterprise Market?
- Report Overview
We are now in the era of wireless networking. To facilitate industry development, every industrial sector in the world is working to build a private wireless network for their businesses. These capabilities would open up several prospects for businesses in a variety of industries. Well, for governments, small businesses, and corporate locations, 5G networks are the main source of internet connectivity.
5G makes it possible to collect and analyze data in real-time, which makes it easier for businesses to implement advanced technologies like machine learning and artificial intelligence (AI and ML). Businesses can analyze, gather, and act upon data in almost real-time thanks to 5G networks' low latency and high bandwidth, which improves operational efficiency and decision-making. This has implications across transportation, healthcare, smart cities, and logistics. As a result, the 5G enterprise market demand is increasing.
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(The sample of this report is readily available on request. The report sample contains a brief introduction to the research report, Table of Contents, Graphical introduction of regional analysis, Top players in the market with their revenue analysis, and our research methodology.)
Our Sample Report Covers:
- 2032 Updated Report Introduction, Overview, and In-depth industry analysis.
- 110+ Pages Research Report (Inclusion of Updated Research).
- Provide Chapter-wise guidance on Requests.
- 2023 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.
What is 5G?
The most recent cellular communication technology, 5G, operates in higher radio frequency bands and allows for unique usage scenarios beyond what is now possible with mobile broadband.
Essential Takeaways from the Report
- The development of smart infrastructure, the rise of Industry 4.0, which paved the way for mMTC, and the provision of differentiated 5G services via network slicing techniques are a few key reasons for boosting market growth.
- The market is noticing substantial growth driven by the improved connectivity delivered by 5G technology.
- The 5G enterprise market segmentation is mainly based on the core network technology, access equipment, services, end-use, organization size, and region.
- North America is predicted to grow immensely, with the highest CAGR during the projection period.
Leading Players Appeared in the Report
- Affirmed Networks
- American Tower
- China Mobile
- Cisco Systems Inc.
- CommScope
- Ericsson
- Fujitsu
- Huawei Technologies Co.
- Korea Telecom
- NEC
- Qualcomm Technologies Inc.
- SK Telecom Co. Ltd.
- Verizon Communications
- Samsung
- ZTE Corporation
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5G Enterprise Market: Report Scope
| Report Attribute | Details |
| Revenue Forecast in 2032 | USD 304,496.3 Million |
| Market size value in 2023 | USD 4,743.7 Million |
| Expected CAGR Growth | 58.8% from 2023 – 2032 |
| Forecast Year | 2023 – 2032 |
| Segments Covered | By Access Equipment, By Core Network Technology, By Services, By Organization Size, By End-Use, By Region |
| Customization Options | Customized purchase options are available to meet any research needs. Explore customized purchase options |
Important Growth Aspects of the Market
- Rising Demand for Reliable and High-Speed Connectivity: The faster speeds, higher capacity of 5G technology, and lower latency, which enable seamless communication between devices and support the proliferation of connected devices and the Internet of Things (IoT), are driving the significant 5G enterprise market growth. This increases the need for dependable, fast connectivity for remote work, digital transformation, and the adoption of advanced technologies.
- Specific requirements for different industries: An important market driver is use cases that are specialized to particular industries. Different industries have different needs and can gain differently from 5G technology. Healthcare can use 5G for online patient monitoring and connected healthcare devices, while manufacturing can use it to implement smart factories with real-time monitoring and automation. The capacity of 5G to meet industry-specific requirements promotes its adoption across industries and aids in market expansion.
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Market Opportunities and Challenges
The COVID-19 pandemic had both favorable and unfavorable effects on the 5G enterprise market sales. It stressed the importance of advanced technologies like 5G in supporting the implementation of IoT, cloud computing, data analytics, and AI, as well as enabling remote work and digital transformation.
However, the epidemic also brought with it difficulties like disruptions to the supply chain, cybersecurity dangers, and monetary instability. The deployment of 5G infrastructure was hampered, which caused projects to be delayed and network growth to be hampered. Despite these difficulties, the pandemic emphasized the critical role that 5G plays in stable corporate operations and the necessity of strong cybersecurity measures in a digitally connected world.
Market's Latest Key Trends
- Network slicing opportunities: Network slicing, a feature that enables operators to divide a single physical network into many virtual networks, is an opportunity offered by the 5G Enterprise Market. Due to excellent security, reliability, and performance, this enables organizations to have dedicated and customized network slices tailored to their unique requirements. This functionality can be very useful in sectors with strict network requirements, such as defense, manufacturing, and banking.
- Collaborations and partnerships: The market for 5G enterprises is expanding as a result of partnerships and cooperation between businesses, technology vendors, and telecommunications providers. These parties collaborate to create use testbeds, cases, and industry-specific solutions, and governments promote the deployment of 5G infrastructure by establishing regulatory frameworks that encourage innovation and competition.
Segmental Overview
- The Radio Node Sector Accounts for the Largest Market Share
This market is expanding because of all of its benefits. These include financial savings through lower operational and maintenance costs, hardware flexibility, the capacity to improve current cloud-based technologies, and the facilitation of cross-domain innovation with few obstacles. It can offer a full network with little maintenance and running costs.
Moreover, organizations can optimize their network architecture by using radio nodes, which lowers operating and maintenance costs. Companies looking to reduce costs while maintaining effective network connectivity would value this cost reduction.
- The Large Enterprises Sector Holds a Significant Revenue Share
The segment of large organizations has the largest revenue share in the market and is expected to maintain its dominance during the forecast period. Through significant expenditures in 5G networks and the rising demand for high-speed internet access, these companies fuel market expansion.
However, small and medium-sized businesses saw the greatest increase in 5G enterprise market size. This development can be linked to these companies' expanding use of digitization and the Internet of Things, both of which necessitate quick and inexpensive Internet connection. Because of this trend, the worldwide 5G enterprise industry is growing.
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Geographical Outlook
North America: The market with the greatest compound annual growth rate (CAGR) is anticipated to be in North America. The rising need for advanced technologies, which is propelling the growth of the 5G enterprise market in North America, is what is causing this expansion. Some examples of these technologies are connected automobiles, artificial intelligence, and machine-to-machine communication.
Asia Pacific: Due to significant 5G network installations by mobile carrier providers like Huawei, ZTE, and Ericsson, the Asia Pacific region has enormous potential for growth in the 5G market. India is predicted to have 350 million 5G users by 2026, making up about 27% of all wireless connections, according to Ericsson research from November. This shows the enormous development potential in the country.
Browse the Detail Report “5G Enterprise Market Share, Size, Trends, Industry Analysis Report, By Access Equipment (Radio Node, Service Node, DAS); By Core Network Technology; By Services; By Organization Size; By End-Use; By Region; Segment Forecast, 2023 - 2032” with in-depth TOC: https://polarismarketresearch.com/industry-analysis/5g-enterprise-market
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Competitive Landscape
The competition for market dominance in the 5G enterprise space has intensified, with key firms such as Ericsson, Nokia, Huawei, and Cisco. In order to meet the increasing demand from businesses for high-speed, low-latency connections, these organizations are quickly expanding their 5G infrastructure and service offerings.
Also, it is anticipated that the competitive landscape will continue to change, promoting innovation and alliances in order to get a bigger 5G enterprise market share as sectors embrace 5G more widely in order to facilitate automation, greater connectivity, and the Internet of Things.
Market's Common Queries Answered by the Report
- What is the size and growth rate of the market during the forecast period?
- What are the driving factors of the 5G enterprise market?
- What has been the impact of Covid-19 on the market worldwide?
- What are the key trends and opportunities in the market?
- Which segment is holding the biggest market share?
- Which is the fastest-growing region in the industry?
- Who are the 5G enterprise market key players?
Polaris Market Research has segmented the 5G Enterprise market report based on access equipment, core network technology, services, organization size, end-use, and region:
By Access Equipment Outlook
- Radio Node
- Service Node
- DAS
By Core Network Technology Outlook
- Software-Defined Networking (SDN)
- Network Functions Virtualization (NFV)
By Services Outlook
- Platform
- Software
By Organization Size Outlook
- Small and Medium Enterprises
- Large Enterprises
By End-Use Outlook
- BFSI
- Media and Entertainment
- Retail and E-commerce
- Healthcare and Life Sciences
- Government and Defense
- Transportation and Logistics
- Manufacturing
- Agriculture
- IT and Telecommunication
- Others
By Region Outlook
- North America (U.S., Canada)
- Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
- Asia Pacific (Japan, China, India, Malaysia, Indonesia, South Korea)
- Latin America (Brazil, Mexico, Argentina)
- Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)
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