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5G Enterprise Market size is poised to grow with a lucrative CAGR from 2023 to 2032. This growth is attributed to the increasing capability of 5G services to support SD-WAN and offer connectivity for applications that are required to be run in remote areas. 5G enables businesses to incorporate more sensors and devices in remote locations without hefty investments in fixed-line connectivity for high data consumption and connected use cases.
5G enterprise technology also allows the high-tech platforms for internet of things, which is currently one of the crucial aspects of Industry 4.0 and industrial automation. As per credible sources, 5G would be 10 times faster than current LTE networks in the coming years, supporting an increase in speed of IoT devices to communicate and share data.
Based on access equipment, the 5G enterprise market share from radio node segment is projected to gain considerable proceeds by 2032. Radio nodes are standing out as cost-effective and efficient alternative for network expansion for service providers with low capital and operating costs. Their easy installation, low power consumption, and easy deployment indoor and outdoor, would support its increasing adoption worldwide.
On the basis of core network technology, the software-defined networking (SDN) segment is anticipated to depict considerable expansion in the coming years. 5G SDN helps provide automation, network virtualization, in addition to new services on virtualized resources. SDN networks also help 5G enterprises create new business models and brings about revenue growth and agility.
In terms of end-use, the 5G enterprise market is expected to record considerable revenue from the IT & telecom sector, especially across AR/VR applications between 2023 and 2032. This is majorly propelled by the rising demand for the precision control of remote devices and the increasing deployment of robotic devices for handling activities such as unexplored ordnance removal and environmental cleanup. While it is likely that virtual reality could face bandwidth challenges on a 5G connection, the technology presents a considerable opportunity for AR where information and smaller datasets are required to be overlaid on real-time video for servicing, repair, or safety applications.
North America 5G enterprise market size is estimated to depict tremendous growth by 2032. Numerous market players in the region are keen on harnessing the potential of 5G for providing a range of services to enterprises. For instance, in March 2022, Ericsson and Rogers announced collaboration to unveil the very first commercial 5G standalone network in Canada. The move would potentially support an unprecedented growth of IoT devices.
The global 5G enterprise market is highly consolidated and boasts the presence of key players including Ciena Corporation, Affirmed Networks (Microsoft Corporation), Hewlett-Packard Enterprise Development LP, AT&T Intellectual Property (AT&T), Juniper Networks, Inc., SAMSUNG, FUJITSU, SK TELECOM CO., LTD. (SK), ZTE, Verizon, Cradlepoint, Inc. (Ericsson), Mavenir (Mavenir plc), Nokia, CommScope, amongst others. These participants are focusing on expansion strategies such as mergers, acquisitions, product developments, collaborations, and partnerships for establishing a strong foothold in the industry.
Market, By Access Equipment
Market, By Core Network Technology
Market, By Organization Type
Market, By End-user
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