5G Enterprise Market size is set to register lucrative gains between 2022 and 2028. This rise is primarily 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. Furthermore, the ample bandwidth of 5G can enable computing at the network edge through connectivity back to the headquarters, in turn widening the network footprint. Given that work from home and SD-WAN are pushing the network edge sector in new directions, 5G will have a significant role to play, particularly in remote or mobile applications.
On the basis of core network technology, the software-defined networking (SDN) segment is anticipated to depict considerable expansion. 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.
Based on end-use, the 5G enterprise market is expected to record considerable revenue from the IT & telecom sector, especially across AR/VR applications, over the coming years. 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 lucrative growth by 2028. Numerous market players in the region are keen on harnessing the potential of 5G for providing a range of services to enterprises. Citing an instance, in June 2021, Verizon rolled out its new network solution, dubbed On Site 5G, in the U.S. The solution is poised to bring secure 5G networks to warehouses, manufacturing and industrial units, enterprise campuses, and other premises.
Major leaders in the market include Ciena Corporation, Affirmed Networks, Hewlett-Packard Enterprise Development LP, AT&T Intellectual Property, Juniper Networks, Inc., SAMSUNG, FUJITSU, SK TELECOM CO., LTD., ZTE, Verizon, Cradlepoint, Inc., Mavenir, Nokia, CommScope. These participants are focusing on expansion strategies such as mergers, acquisitions, product developments, collaborations, and partnerships for establishing a strong foothold in the industry.
For instance, in June 2021, Cisco announced the launch of its Catalyst industrial routers portfolio for extending the power of enterprise network to the edge by means of the scalability, security, and flexibility required for IoT success. Featuring the capabilities of 5G, the portfolio assists organizations in running connected operations at scale, providing the choice of management tools which is suitable for both operations and IT.
The COVID-19 pandemic has given a boost to digital transformation, driving more and more businesses to focus on new technologies, with particular emphasis on 5G enterprise solutions. According to studies, the deployment of 5G is predicted to provide numerous benefits to countries from enhancements in efficiency and productivity brought about by the escalated adoption of mobile services. The 5G rollout is projected to benefit all economic sectors through the pandemic period, with particular emphasis on the manufacturing and services sectors.
Market, By Access Equipment
Market, By Core Network Technology
Market, By Organization Type
Market, By End-user
The above information has been provided for the following regions and countries: