According to the report, the global 5G enterprise market is anticipated to be around USD 2.2 billion by 2020 and reach approximately USD 19.5 billion by 2025, at a CAGR of slightly above 54.7% between 2020 and 2025.
New York, NY, Aug. 05, 2019 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “5G Enterprise Market by Access Equipment (Distributed Antenna System, Service Node, and Radio Node), by Core Network Technology (Network Functions Virtualization and Software-Defined Networking), by Service (Software and Platform), By Organization Size (Small and Medium Enterprises and Large Enterprises), and by Vertical (BFSI, Retail, Transportation, Government, Manufacturing, Healthcare, IT and Telecommunications, Agriculture, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2020–2025”. According to the report, the global 5G enterprise market is anticipated to be around USD 2.2 billion by 2020 and reach approximately USD 19.5 billion by 2025, at a CAGR of slightly above 54.7% between 2020 and 2025.
Fifth Generation (5G) wireless network technology is all set to revolutionize operations of enormous enterprises worldwide in the near future. As the technology is yet to be completely commercialized, the leading enterprises are engaged in understanding the basics of 5G technology. In addition, 5G technologies will tremendously benefit various organization departments in human resources, operations, sales, and marketing along with helping enterprises in both the increment of revenue and overall cost reduction.
Browse through 88 Tables & 38 Figures spread over 201 Pages and in-depth TOC on “Global 5G Enterprise Market: By Equipment Type, Size, Share, Industry Applications, Segments, Analysis and Forecast, 2020–2025”.
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The constant need for upgrading enterprise network infrastructure will be significantly driving the 5G enterprise market. Enterprises worldwide are upgrading their wireless network infrastructure, to avail the various benefits of 5G. Adoption of 5G technology in enterprises is forecasted to grow rapidly in the near future, as it not only provides low latency but addition facilitates better efficiency. For multinational enterprises, 5G will ensure uninterrupted wireless connectivity, irrespective of geography. In addition, 5G technology will effectively simplify an enterprise's value control and flexibility. Recently a survey was conducted with key opinion leaders (KOL) of numerous enterprises, ranging from small to large scale. Based on the survey, 65% of organizations are planning to deploy 5G by the end of 2020. Furthermore, the rising demand for software implementations in wireless communications is another market growth driver. However, the absence of appropriate authority for efficient management of corporate network, the high initial cost of 5G deployment, and up-gradation of existing network infrastructure may hinder the 5G enterprise market growth.
The global 5G enterprise market is categorized based on access equipment, core network technology, service, organization size, and vertical. The access equipment segment includes a service node, radio node, and a distributed antenna system. Radio node has a high adoption rate among the enterprises and the segment is anticipated to dominate the market in the future.
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Software-defined networking and network functions virtualization comprise the core network technology segment. Network functions virtualization facilitates the flexibility of network function alteration, which will fuel this segment to witness the highest CAGR in the years ahead. By organization size, the market includes small and medium and large enterprises. In order to monitor and manage the complexity of a huge communication network, large enterprises are projected to deploy 5G rapidly in years ahead. Based on service, the market is classified into software and platform.
The vertical segment of the 5G enterprise market comprises BFSI, IT and telecommunications, retail, government, transportation, manufacturing, agriculture, healthcare, and others. The BFSI sector has always been the first to adopt the latest technologies and is anticipated to account for the largest market share in the upcoming years.
Browse the full “5G Enterprise Market by Access Equipment (Distributed Antenna System, Service Node, and Radio Node), by Core Network Technology (Network Functions Virtualization and Software-Defined Networking), by Service (Software and Platform), By Organization Size (Small and Medium Enterprises and Large Enterprises), and by Vertical (BFSI, Retail, Transportation, Government, Manufacturing, Healthcare, IT and Telecommunications, Agriculture, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2020–2025” Report at https://www.zionmarketresearch.com/report/5g-enterprise-market
By region, North America is estimated to account for a substantial share of the global 5G enterprise market over the estimated timeframe. This can be attributed to the remarkable presence of prominent enterprise market players in the region. Some leading market players headquartered in the U.S. are AT&T, CommScope, Hewlett Packard Enterprise, Juniper Networks, Cisco, and Verizon. The U.S. will significantly contribute to the North American market and hold a sizeable share. Furthermore, rising government initiatives, such as the National Security Council’s recommendation to the U.S. government for developing a government-owned 5G network, is further driving the 5G enterprise market. As per AT&T, it is projected that the 5G network will be used by nearly 60% of the U.S. population, accounting over 200 million over the forecasted timeframe.
Deployment of 5G enterprise equipment requires hefty initial investments for up-gradation of existing network infrastructure. Europe being a well-established economy holds huge potential to support 5G deployment. Furthermore, the region’s strong financial sector is also fuelling the 5G enterprise market growth. The BFSI sector is renowned for its early adoption of the latest network technologies, such as 4G and 5G. With the highest GDP, Germany is expected to dominate the regional market. Germany’s GDP was USD 4,029.14 billion in 2018.
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The rising number of bring your own devices (BYOD) is the major contributor to the 5G enterprise market in the Latin American region. The rise in the number of BYOD devices among various enterprises has increased mobile data traffic, thereby fuelling the need for efficient wireless networks. Bring your own device market in Latin America has been growing at a CAGR of nearly 26.7% from 2014 to 2019.
Some leading market players of the global 5G enterprise market are Intel, Nokia, Huawei, ZTE, Samsung, Hewlett Packard Enterprise, Ericsson, Juniper Networks, Verizon Communications, NEC, Fujitsu, Cisco, SK Telecom, and CommScope.
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This report segments the global 5G enterprise market into:
5G Enterprise Market: Access Equipment Analysis
- Distributed Antenna System (DAS)
- Service Node
- Radio Node
5G Enterprise Market: Core Network Technology Analysis
- Network Functions Virtualization (NFV)
- Software-Defined Networking (SDN)
5G Enterprise Market: Service Analysis
5G Enterprise Market: Organization Size Analysis
- Small and Medium Enterprises
- Large Enterprises
5G Enterprise Market: Vertical Analysis
- IT and Telecommunications
5G Enterprise Market: Regional Analysis
- North America
- The U.S.
- Asia Pacific
- Latin America
- The Middle East and Africa
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