5G Enterprise Market is projected to grow at a higherCAGR till 2028 | Size, Analysis
The 5G Enterprise Market is expected to expand at a significant CAGR over the forecast period (2021-2028).
The factors driving growth of the 5G Enterprise Market includes rise in the number of smart cities around the world, increasing penetration of smartphones and laptops, growing focus of companies on enhancing their operational efficiencies and improvements in the living standards. For instance, the Indian government plans to create 100 smart cities across the country with the goal of creating livable and self-sufficient metropolitan areas, which would spur market expansion in India in the years to come .Moreover, growing adoption of advanced technologies such as Artificial Intelligence (AI), Internet of Things (IoT) and Big Data Analytics, on-going developments in the telecom sector, rise in the launch of innovative products and rapid urbanization, are some of the by major companies on research and development, strategic partnerships and Acquistions between leading additional factors supplementing the market growth. In addition, the increasing investments players, growing population growth rates and rising disposable incomes, are further contributing towards the market growth.
However, growth of the 5G Enterprise Market is hindered due to stability in the adoption of Wi-Fi communication technology.
The leading players operating in the market includes SAMSUNG, ZTE, NEC Corporation, Oracle, Cisco, Ciena Corporation, Huawei Technologies Co., Ltd., Ericsson, Nokia, and Juniper Networks, Inc., among others.
Based on Network Type, the Private Network segment is predicted to grow at a robust CAGR during the forecast period
Private networks reduce the dependency on service providers, and enables organizations to customize their network, which is propelling growth of the segment.
Based on Infrastructure, the Core Network Technology segment is projected to capture the largest market share over the forecast period
Core network technology helps in enhancing user’s experience, simplifies network operations, and enhances network capabilities, which are pushing segment’s growth.
Based on Region, the North American region is expected to grow at a remarkable CAGR during the forecast period
Presence of the leading companies such as Juniper Networks, Oracle, and Cisco, rise in Government’s expenditure on smart city projects, rapid industrialization, increased adoption of advanced technologies and high per capita incomes, are some of the important factors augmenting the market growth in North America.
Key Developments
- In 2020, Ericsson collaborated with SoftBank Corp. to launch the cloud-native dual mode 5G core. Through this solution, the SoftBank Corp. aimed to develop new 5G use cases towards businesses, consumes, and industry partners.
- In 2020, ZTE partnered with China Mobile to launch the country’s first medical edge cloud platform.
Market Segmentation
Segmentation by Network Type
- Hybrid Network
- Private Network
Segmentation t by Operator Model
- Communication service providers
- Private Enterprises
Segmentation by Infrastructure
- Access Equipment
- Core Network Technology
Segmentation by Spectrum
- Licensed
- Unlicensed/Shared
Segmentation by Organization Size
- Small and Medium-sized enterprises
- Large Enterprises
Segmentation by Vertical
- BFSI
- Manufacturing
- IT and Telecommunication
- Energy & Utilities
- Retail
- Healthcare
- Government
- Others
Segmentation by Region
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- North America
- United States of America
- Canada
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
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