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2021
5g Enterprise Market

5G Enterprise Market

by Frequency (Sub-6Ghz, mmWave), Spectrum (Licensed, Unlicensed), Network Type (Hybrid Network, Private Network, Enterprise Network, CSP Network) Organization Size (Small and Medium Scale, Large Scale) Industry Vertical (BFSI, Healthcare, Retail & E-commerce, IT & Telecom, Manufacturing, Government and Public Sector, Energy and Utility, Media & Entertainment and Others): Global Opportunity Analysis and Industry Forecast, 2020-2028.
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Report Code: A11331
Pages: 263
May 2021 | 3380 Views
Author(s) : Rachita R
Tables: 69
Charts: 40
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COVID-19

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5G Enterprise Market Statistics: 2028

The 5G enterprise market size was valued at $1,682 million in 2020, and is projected to reach $16,846 million by 2028, growing at a CAGR of 33.9% from 2021 to 2028. 5G enterprise is based on the fifth generation wireless communication technology, which is upgraded from 4G wireless network. It is obtained by using high frequency and short range band of radio spectrum. 5G Enterprise provides low latency and high internet. It delivers speed of network performance more than 1Gbps, which is 10 times faster than 4G network. 5G enterprise is a technology that allows businesses to enable various services, which will enable enterprise to setup their own private wireless platform to cover a large area and wide range of operation. It also enables the high-tech platform for internet of things, which is important in the implementation of industry 4.0 and industrial automation.

COVID-19 pandemic has affected positively on the adoption of of 5G enterprise solutions as it has forced 90% organizations to adopt work from home policy which increased the use of cloud infrastructure and adoption of remote workspace application which in turn will result in the increase in internet traffic. Post COVID-19 pandemic, companies are focusing on the adoption of advanced technology such as augmented reality, virtual reality and internet of things to perform contact less operation in several industry vertical such as manufacturing, energy and utility and others will drive the adoption of 5G enterprise solutions globally.

Depending on spectrum, the licensed segment dominated the 5G enterprise market share in 2020, and is expected to continue this trend during the forecast period. The growth of the segment is attributed to numerous benefits provided by this spectrum type such as high quality of connectivity, which results in lower costs if there is addition of new resources, high security, and others. However, the unlicensed/shared segment is expected to witness highest growth in the upcoming years. Furthermore, the adoption of unlicensed infrastructure for deployment is considerably increasing in end users due to its standalone and cost-effective operation, which notably contributes toward the 5G enterprise market growth.

5G-Enterprise-Market-2021-2028

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 solution among enterprises to gain strategic as well as competitive advantage over their competitors. In addition, it provides wide coverage area and allows full network inside the close places such as house and offices, which drives the growth of the market. However, the mmWave frequency segment is expected to witness the highest growth, as these mmWave 5G enterprise technology allows the large number of users to connect one access point, which is useful in the densely populated areas in metropolitan cities. The adoption of this technology speeds up new business implementation, maximizes the value of existing mobile and wearable resources by optimizing it, and minimizes the data cost, which further fuel the growth of the market.

On the basis of organization size, large scale organization dominates the 5G enterprise market and is expected to continue this growth during the forecast period. This growth is attributed to heavy investment of large scale organization in the 5G networks; also, the growing requirement of high speed internet in the large scale organization drives the market. However, the small and medium scale organization recorded highest growth during 2020 in the market. This growth is attributed to shift in small and medium scale business toward the digitization and adoption of internet of things in the regular operation that requires high speed and cost affordable internet, which drives the 5G enterprise market globally.

North America dominated the 5G enterprise market in 2020, and is expected to continue this trend during the forecast period. The growth is attributed to high penetration of 5G network and rise in use of artificial intelligence (AI) & other smart connected devices in the region. Moreover, surge in need of next generation network qualities and increase in need of high speed internet for business due to shift of business toward digitization and availability of deployment of unlicensed and shared spectrum in 5G enterprise. However, Asia-Pacific is expected to exhibit highest growth during the 5G enterprise market forecast period, owing to strong economic growth of emerging countries in the region and ongoing development in the telecom sector, which drives organizations to focus on the deployment and implementation of the 5G enterprise to sustain growth and improve productivity. In addition, the countries such as India, China, and Japan, are taking initiative in the rapid deployment of 5G network across the country, which drives the market. Furthermore, key players in Asia-Pacific are focusing on enhancing their operations and increasing their overall efficiency to stay competitive in the market, which is expected to provide lucrative opportunities for the growth of the market during the forecast period. 

The report focuses on the growth prospects, restraints, and 5G enterprise market analysis. The study provides Porter’s five forces analysis of the 5G enterprise industry to understand the impact of various factors such as bargaining power of suppliers, competitive intensity of competitors, threat of new entrants, threat of substitutes, and bargaining power of buyers on the rich communication services market trends.

Segment review

5G enterprise industry is segmented on the basis of frequency, spectrum, network type, organization size, industry vertical, and region. By frequency, it is bifurcated into Sub-6Ghz and mmWave. By spectrum, it is bifurcated into licensed and unlicensed spectrum. By network type, it is categorized into, hybrid network, private network, enterprise network, CSP network. By organization size, it is bifurcated into large scale enterprise and small and medium scale enterprise. By industry vertical, it is classified into BFSI, healthcare, retail & e-commerce, it & telecom, manufacturing, government and public sector, energy and utility, media & entertainment and others. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Impact of COVID-19 on 5G Enterprise Market:

The global COVID-19 pandemic has drastically affected businesses across the world. The global pandemic has positively affected the adoption of 5G enterprise solution in the industry vertical, due to the global lockdown that pushed employees of various industry verticals such as IT & telecommunication and manufacturing, to work from home, which increased the use of cloud-based infrastructure and fueled the adoption of remote workspace application, which need low latency, cost effective and high speed internet network. This is expected to result in increase in internet traffic. Global lockdown put restriction on the auction of 5G spectrum, which has delayed the implementation of 5G enterprise. However, in post COVID-19 situation in regions such as Europe and North America, communication service provider (CSPs) are investing rapidly in the 5G enterprise, which is expected to boost the growth of the market globally. In the post COVID-19 situation, companies are focusing on the advanced technology such as augmented reality, virtual reality and internet of things, to perform contact less operation in the industry verticals such as manufacturing, energy and utility and education sector. This is projected to drive the 5G enterprise market globally.

Top impacting factors    

Numerous factors such as rise in use of network slicing to deliver different 5G services and increase in use of smart phone and wearable devices among all age groups drives the growth of the 5G enterprise market globally. Moreover, the development of smart telecommunication infrastructure across the globe also drives the market globally. However, high initial & building cost of 5G enterprise solution and security concern in the 5G core networks restrain the growth of the market. Furthermore, rise in investment in mobile computing and communication solution by numerous countries and increase in need of low latency connectivity are expected to create lucrative 5G enterprise market opportunity.

5G Enterprise Market
By Frequency

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mmWave frequency is projected as one of the most lucrative segments.

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Growing penetration of smart phone and wearable devices among the industry vertical:

From the last decade, the use of smartphones across developing economies is continuously increasing due to numerous factors such as increase in per capita income, cost affordability, availability of multiple low price options with significant features and others.  Growing application of bring-your-own-device policy, and work from home adoption by many organizations due to COVID-19 pandemic, has resulted in growing use of smartphones for official purposes. Lots of organizations and institutions have been using smartphone, tablets and other smart devices to communicates and get in touch with their employees and students.

This increases the demand for high speed internet and communication service as well as the online streaming of video on the smart phone increased during the global lockdown, which is projected the market of 5G enterprise globally. 

5G Enterprise Market
By Region

2028
North America 
Europe
Asia-pacific
Lamea

Asia-Pacific is projected as one of the most significant region.

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Key Benefits For Stakeholders

  • The study provides an in-depth analysis of the 5G enterprise market along with the current 5G enterprise market trends and future estimations to elucidate the imminent investment pockets.
  • Information about key drivers, restraints, and opportunities and their impact analysis on the global market size is provided.
  • Porter’s five forces analysis illustrates the potency of buyers and suppliers operating in global market.
  • The quantitative analysis of the 5G enterprise market from 2020 to 2028 is provided to determine the market potential.

Key Market Segments

Based on Frequency

  • Sub-6Ghz
  • mmWave

Based on Spectrum:

  • Licensed
  • Unlicensed/Shared 

Based on Network Type:

  • Hybrid Networks
  • Private Networks
  • Enterprise Network
  • CSP Network 

Based on Organization Size

  • Small and medium-sized enterprises 
  • Large enterprises

By Industry Vertical

  • BFSI
  • Healthcare
  • Retail & E-commerce
  • IT & Telecom
  • Manufacturing
  • Government and Public Sector
  • Energy and Utility
  • Media & Entertainment
  • Others 

By Region

  • North America
    • U.S.
    • Canada
  • Europe 
    • UK
    • Germany 
    • France
    • Italy
    • Spain
    • Rest of Europe
  • Asia-Pacific 
    • China
    • India
    • Japan
    • South Korea
    • Australia
    • Rest of Asia-Pacific
  • LAMEA
    • Latin America 
    • Middle East
    • Africa

Key Market Players Profiled In The Report Of 5g Enterprise Market.

  • AT&T
  • Ericsson
  • Huawei Technologies co. Ltd.
  • Juniper Network, 
  • NEC corporation
  • Nokia Corporation
  • Samsung 
  • SK Telecom, 
  • Verizon Communications LTD
  • ZTE corporation
 

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According to the several interviews which we have conducted with top level chief executive officers of 5G service provider company, shows that the adoption of 5G Enterprise technology has increased over time to deliver reliable and consistent network service for their subscribers. In addition, 5G enterprise solutions helps the businesses to reduce the cost of communication and internet data to run the business operation effectively, which is driving its adoption among the companies and increasing its popularity among the end users. Furthermore, number of industry verticals such as healthcare, retail and e-commerce, IT and Telecom and manufacturing, are focusing on 5G enterprise solutions to increase speed of internet and reduce network related issues in organizations, which is impacting positively on the growth of the market.

The CXOs further added that the market is expected to witness significant growth in the future, due to increase in use of 5G networks among the domestic user and rise in adoption of internet of things oriented business models among organizations. The global 5G Enterprise market is highly concentrated, and companies are focusing on leveraging new technologies for offering 5G enterprise solutions to meet the emerging requirements of the user. Moreover, increasing investments in internet of things & industrial automation among every industry vertical is boosting the adoption of these solutions.

North America is further anticipated to dominate the 5G enterprise market in the upcoming years, as the need of high speed internet and hassle free communication is high in the region due to its technological advancement and major shift toward digital transformation. In the current market scenario, substantial growth has been experienced in the usage of 5G Enterprise technology across Asia-Pacific. This is attributed to the fact that large population in this region has created an extensive pool of mobile subscribers for telecom companies. Moreover, the region is the largest contributor of IoT-based manufacturing units in the globe, which required high bandwidth network, and is expected to add more IoT users in the upcoming years. Asia-Pacific is further anticipated to witness heavy growth in deployments of 5G enterprise solutions in the upcoming years, due to major shift toward digital transformation and the initiative of deployment of 5G technology taken by countries, including China, India, and Japan. For instance, in May 2021, department of telecommunication (DoT), India has approved the application of telecom service providers such as Reliance Telecom, Bharti Airtel, Nokia Corporation and Ericsson, to take trial of 5G network in the country.

The presence of a large number of providers in the global 5G enterprise market increases the competition between key players. Therefore, 5G enterprise technology providers are differentiating themselves from competitors and driving revenue growth by incorporating new digital business technologies such as artificial intelligence, machine learning, and low cost data into their offerings to gain a competitive lead and retain their market position. The market is considerably concentrated with major players consuming significant market share. The degree of concentration will remain the same during the forecast period. The vendors operating in the market are taking several initiatives such as new product launches, and partnership to stay competitive in the market and to strengthen their foothold in the market.

 

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