5G Enterprise - Global Market Outlook (2020-2028)
According to Stratistics MRC, the Global 5G Enterprise Market is accounted for $1.62 billion in 2020 and is expected to reach $12.83 billion by 2028 growing at a CAGR of 29.5% during the forecast period. Development of smart infrastructure, delivery of differentiated 5G services using network slicing technique, and increasing management of large infrastructures of devices through a network slice are the major factors propelling the market growth. However, adoption of Wi-Fi communication technology by enterprises and security concerns in 5G core network are hampering the market growth.
5th Generation is the new adaptation of the cellular mobile communications after 4G, 3G and 5G. This latest version of cellular technology is designed to increase the speed and responsiveness of wireless networks. This new technology will be very rapid and when merging with new technologies like the Internet of things and Edge-to-Edge capabilities they are going to create a whole new experience for the user customer. With 5G, data transmitted over wireless broadband connections can travel at an average speed of more than 100 Megabits per second (Mbps), with peak speeds reaching as high as 20 gigabits per second (Gbps) by some estimates. These speeds are useful for applications that require real-time feedback, due to 5G offering a low latency of 1 millisecond (ms) or lower. They will form new connectivity, software and so forth, which will aid the business to spread themselves. 5G is the advanced generation in the array of cellular communication technologies, operating in enormous radio frequency bands, permitting novel utilization framework beyond the present mobile broadband. Consequently, 5G will make it possible for an exponential increase in the amount of data transmitted over wireless systems, due to the availability of more bandwidth coupled with advanced antenna technology.
Based on end user, the healthcare and life sciences segment is going to have a lucrative growth during the forecast period owing to the surging number of use cases and applications of 5G networks in the telemedicine market. For the healthcare sector, the 5G network infrastructure facilitates HD video calls and images. 5G network works at high speed; in other words, it has low latency time, which is an essential requirement of healthcare institutions, hospitals, and life science research centers for multiple applications and use cases, such as connected health devices, mHealth, and telemedicine, thereby enabling interaction between patients, doctors, medical experts, and scientists that are present at remote locations, as well as share digital images wirelessly from any site.
By geography, North America is going to have a lucrative growth during the forecast period due to the increase in the demand for advanced technologies, such as machine-to-machine communication, connected cars, and artificial intelligence. Cloud-based enterprise applications are thriving in the North American region. Therefore, to meet the capacity, coverage, and efficiency demands of future 5G services, network operators in the United States are investing in their networks to achieve the highest performance at the lowest cost per bit, using advancements, such as network function virtualization (NFV) and software-defined networking (SDN), to maximize network efficiency. Moreover, significant operators like Verizon and AT&T are pushing the 5G narrative, on an enterprise-level, the other operators such as Sprint and T-Mobile are trying to achieve an equilibrium wherein their respective networks are marketed equally to the businesses and consumers as well.
Some of the key players profiled in the 5G Enterprise Market include Affirmed Networks, Airspan Networks, AT & T, Ciena Corporation, Cisco System Inc., Comba Telecom Systems Holdings Ltd, CommScope, Ericsson, Extreme Networks, FUJITSU, Hewlett Packard Enterprise, Huawei Technologies Co. Ltd., Juniper Networks, Inc, Mavenir, NEC Corporation, Nokia Networks, Samsung Group, Telefonaktiebolaget LM Ericsson, Verizon Communications Inc, VMware, Inc, and ZTE.
Network Types Covered:
• Hybrid Networks
• Private Networks
Frequency Bands Covered:
Organization Sizes Covered:
• Small and Medium-sized Enterprises (SMEs)
• Large enterprises
Communication Infrastructure Types Covered:
• 5G Radio Access Networks
• 5G Core Networks
• Transport Networks
• Access Equipment
• Core Network Technologies
• Augmented Reality (AR) / Virtual Reality (VR)
• Mobile Robots - Automated Guided Vehicles(AGV)
• Video analytics
End Users Covered:
• Aerospace & Defense
• Banking, Financial Services and Insurance (BFSI)
• Energy & Utilities
• Government and Public Safety
• Healthcare and Life Sciences
• IT & Telecommunication
• Media & Entertainment
• Office Buildings
• Retail and Ecommerce
• Transportation and Logistics
• Consumer Goods
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2019, 2020, 2021, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
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