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5G Enterprise Market is expected to register a healthy CAGR of over 42% during the forecast period (2020 - 2025). Adoption of 5G technology in enterprises is forecasted to grow rapidly in the near future, as it provides low latency along with better efficiency.
- Implementation of 5G across the enterprises is projected to not just provide a faster network, but it is also anticipated provide an extreme user experience anywhere and anytime, even when the user roams across different operators globally. This has been possible due to the federated network slicing that is expected to enable seamless platform sharing among operators at a global scale for continuous and guaranteed user experience.
- Demand for mobile data services is increasing due to the several subscriptions availed by the users. After the commercialization of 5G network connectivity, high demand for 5G-enabled smartphones with high-speed internet connectivity is expected, which is expected to be a key driver for the market.
- As the number of mobile users with video-centric content across the enterprises are increasing at a rapid pace for longer periods of time, using increasingly powerful smartphones, demand for radio access network (RAN) bandwidth is expected to drive the market in future.
Scope of the Report
5G is expected to enable diverse use cases from enhanced mobile broadband to mission-critical control along with massive IoT applications that are not possible with 4G systems alone. It is expected to be scalable and energy-efficient enough to power the steady growth of new connections and advanced technologies. 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.
Key Market Trends
Large Enterprise is Anticipated to Gain a Significantly Over the Initial Forecast Period
- In order to provide reliable customized services using limited network resources while reducing capital expenditure and operating expense of 5G networks, network slicing has recently been introduced in the wireless industry as the primary enabler of network service convergence and on-demand customized services specifically to cater applications across the large enterprises.
- Reliable connections of a large number of widespread low-power nodes, such as wireless sensors, are needed across the enterprises, where the integration of 5G networks would be able to connect millions of devices under the constraints of low power consumption and low cost per device.
- Extremely low latency and high reliability of 5G networks are required to meet the performance requirements of real-time, reliable and secure communications in some vertical industries such as interconnected branch and industrial production control.
Europe is Expected to Have a Significant Market Share
- The demand for 5G enterprise equipment to provide high-speed data transfer and enable simultaneous access to several devices would drive the growth of the 5G enterprise market across the region.
- The adoption of core network technologies, such as SDN and NFV, in Europe is driven by witnessing the development of favorable standards and networking regulations for boosting the SDN and NFV along with the increasing trend of innovative technologies, such as cloud computing, mobility services, virtualization of network, and Bring Your Own Device (BYOD).
- Moreover, the 5G enterprise connectivity platform is expected to enable several industries with a single network, with unified 5G enterprise network is likely to boost cross-industry connection and industrial application development across the region.
The 5G enterprise market is moderately competitive and consists of a few players. However, with the advancement in the network architecture across the telecommunication services, new players are increasing their market presence thereby expanding their business footprint across the emerging economies.
- Aug 2019 - Qualcomm Technologies, Inc. announced the launch of Qualcomm Networking Pro Series platforms, its second-generation Wi-Fi 6 networking offerings, designed to deliver the ultimate Wi-Fi 6 connectivity experience across the widest range of applications.
- July 2019 - Cisco and Acacia Communications announced that they entered into a definitive agreement under which Cisco has agreed to acquire Acacia. An existing Cisco supplier, Acacia designs and manufactures high-speed, optical interconnect technologies that allow webscale companies, service providers, and data center operators to meet the fast-growing consumer demands for data.
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