IMARC Group, a leading market research company, has recently releases report titled “5G Enterprise Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global 5G enterprise market size, share, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Report Highlights
How Big is the 5G Enterprise Market?
| Report Attributes | Details |
| Market Size in 2022 | US$ 3.1 Billion |
| Market Forecast in 2028 | US$ 19.4 Billion |
| Growth rate (2023 to 2028) | CAGR of 34% |
| Base Year of the Analysis | 2022 |
| Forecast Period | 2023-2028 |
What is 5G Enterprise?
5G is an advanced technology used in cellular networks that provides fast data transfer, minimal delays, wider bandwidth, extensive coverage, and reliable connections. It enhances the quality of service while remaining affordable. Additionally, 5G facilitates the streaming of high-definition videos and supports augmented reality and virtual reality content. Currently, it is extensively employed across various industries, including IT, telecommunications, manufacturing, and BFSI. This is due to its support for emerging technologies like edge computing and network slicing, enabling the development of immersive solutions that empower enterprises to undergo digital transformation.
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What are the growth prospects and trends in the 5G enterprise industry?
The adoption of 5G enterprise solutions is on the rise worldwide due to the growing number of remote workers resulting from the COVID-19 pandemic. This surge is a significant driver of market growth. In addition, the retail industry is increasingly utilizing these solutions because they provide uninterrupted business operations, streamlined processes, a dependable network capable of handling high traffic during peak periods, and simplified tracking of products, prices, inventory, and customer information.
Moreover, faster connections and reduced latency enable the introduction of new features in physical stores, such as digital price tags and intelligent digital displays. Furthermore, the healthcare sector is embracing 5G enterprise solutions at an increasing rate. This technology enables remote patient monitoring, video-enabled prescription management, connected ambulance services, and high-definition virtual consultations.
This, combined with enterprises’ growing focus on implementing new technologies to enhance service delivery, reduce costs, and gain a competitive edge, is expected to drive market growth.
What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Frequency:
- Sub-6Ghz
- mmWave
Breakup by Spectrum:
- Licensed
- Unlicensed/Shared
Breakup by Network Type:
- Hybrid Networks
- Private Networks
- Enterprise Network
- CSP Network
Breakup by Organization Size:
- Small and Medium-sized Enterprises
- Large Enterprises
Breakup by Industry Vertical:
- BFSI
- Healthcare
- Retail and E-Commerce
- IT and Telecom
- Manufacturing
- Government and Public Sector
- Energy and Utility
- Media and Entertainment
- Others
Market Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Who are the key players operating in the industry?
The report covers the major market players including:
- AT&T Inc.
- Cisco Systems Inc.
- Fujitsu Limited
- Hewlett Packard Enterprise Company
- Huawei Technologies Co. Ltd.
- Juniper Networks Inc.
- Nokia Corporation
- Oracle Corporation
- Samsung Electronics Co. Ltd.
- Telefonaktiebolaget LM Ericsson
- Verizon Communications Inc.
- ZTE Corporation
If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.
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