With 31.8 % CAGR, 5G Enterprise Market Growth to Surpass USD 10.9 billion

NORTHBROOK, Ill. - Oct. 12, 2022 - PRLog -- 5G Enterprise Market is expected to grow from USD 2.1 billion in 2021 to USD 10.9 billion by 2027, at a CAGR of 31.8%. A few major factors driving the growth of this market are the emergence of Industry 4.0 paving the way for mMTC, the development of smart infrastructure, and the delivery of differentiated 5G services using network slicing technique. The critical challenge faced by the market players is the requirement of the high spending capability of carriers to set up a 5G infrastructure.

Hybrid network segment is attributed to hold the largest share of the 5G enterprise market

Hybrid network is expected to hold a major market share owing to the growing number of users because of the high speed and time-share connectivity offered by 5G technology.

Private networks to witness the highest growth in 5G enterprise market in coming years

Private enterprises are expected to witness a higher CAGR in the coming years. Adopting technologies such as private 5G networks and small cells by enterprises for business-critical applications is increasing. Since it provides the enterprises with reliability and coverage, enterprises adopt 5G core network technologies by deploying standalone solutions.

Communication applications held the largest market size in 2020

Communication applications held the largest market size owing to the successful commercialization of 5G networks worldwide and the growing adoption of the 5G network owing to its dynamic features such as high data rates and low latency.

APAC is attributed to hold major share of 5G enterprise market throughout the forecast period

APAC is a diversified region with its countries transitioning toward their digital transformation. The region is set to dominate 5G, edge computing, blockchain, and 5G core technologies owing to its size and diversity, as well as due to strategic lead taken by countries, including Singapore, South Korea, China, Australia, and Japan. Japan and China are the largest manufacturing economies that produce automobiles, IT products, and electronic products in APAC. The manufacturing paradigm has changed considerably in APAC, with industries adopting advanced technologies, such as robotics and big data analytics. South Korea, China, and Japan are the prime countries in the region that have started several 5G-related activities.

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Key Market Players

The 5G enterprise market was dominated by Huawei (China), Ericsson (Sweden), Nokia Networks (Finland), Samsung (South Korea), and ZTE (China).