5G Enterprise Market Size, Share & Analysis Report, 2023-2032
The global 5G enterprise market size was exhibited at USD 4.04 billion in 2022 and is projected to hit around USD 34.55 billion by 2032, growing at a CAGR of 30.77% during the forecast period 2023 to 2032.
Key Pointers:
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. Similarly, the adoption of Wi-Fi communication technology by enterprises and security concerns in the 5G core network are the major factors hindering the market growth. Low latency connectivity with uRLLC and increasing demand for private networks from various enterprises and government organizations for mission-critical applications. Despite the market being in the infancy stage, a lot of research is being conducted in the market.
5G Enterprise Market Report Scope
|
Report Coverage |
Details |
|
Market Size in 2023 |
USD 4.04 Billion |
|
Market Size by 2032 |
USD 34.55 Billion |
|
Growth Rate From 2023 to 2032 |
CAGR of 30.77% |
|
Base Year |
2022 |
|
Forecast Period |
2023 to 2032 |
|
Segments Covered |
Spectrum, Frequency , Organization Size, Industry Vertical |
|
Market Analysis (Terms Used) |
Value (US$ Million/Billion) or (Volume/Units) |
|
Regional Scope |
North America; Europe; Asia Pacific; Central and South America; the Middle East and Africa |
|
Key Companies Profiled |
AT&T, Ericsson, Huawei Technologies co. Ltd., Juniper Network, NEC Corporation, Nokia Corporation, Samsung, SK Telecom, Verizon Communications LTD, ZTE Corporation. |
Market Dynamics
Drivers: Emergence of Industry 4.0 paving way for mMTC
Along with IoT, Industry 4.0 provides manufacturing companies with the ability to store and analyze large volumes of data, based on which manufacturers can set actions using several technologies, such as robotics, artificial intelligence, connected sensors, IoT, and cloud computing. Thus, Industry 4.0 aims to improve production process efficiency and flexibility by deploying automation technology.
Development of smart infrastructure
Infrastructural initiatives, such as smart cities and smart buildings, are conceptual model, designed to deliver a set of cutting-edge services and infrastructure. A smart city has Information and Communication Technology (ICT) infrastructure to improve the quality of life and augment the efficiency of urban operations and services. An existing city can be considered smart only if it adheres to the following components: smart transportation, smart buildings, smart utilities, and smart citizen services. Therefore, the successful implementation of smart city projects heavily depends on several technologies—data communications, cloud, mobility, and sensors—that collectively form the IoT. Due to the huge demand for rapid connectivity and faster communication, 5G standalone (SA) services can see huge opportunities in the future.
Delivery of differentiated 5G services using network slicing
5G introduced new business models across various enterprises that are focused on meeting the ever-changing requirements of customers from different verticals. Network slicing is one of the crucial techniques that enable service providers to expand their business by offering innovative services. The end-to-end network slicing includes the RAN, core network, and transport functions. With this technique, network services can be offered with high security and flexibility. It also helps service providers to earn better returns on their investments by managing their network resources effectively and providing differentiated services to a larger scale.
Network resources can be dedicated per slice, enabling end-to-end service differentiation. Both vertical and horizontal slicing can be specified within the same service slice, enabling different slices per tenant and fulfilling different service-level agreements (SLAs). For example, a dedicated slice can be allocated to separate use cases or services, such as utilities, healthcare, and automotive. Then, the CSP can slice in the same vertical by the tenant, for instance, in the automotive slice, between different manufacturers, each having its SLA.
Restraints: Stability Adoption of Wi-Fi communication technology by enterprises
Wi-Fi communication is currently considered to be the de-facto connectivity technology among organizations for offering on site mobility for employees, connected devices, visitors, and contract-based employees. Advancements and developments in wireless technologies and devices have increased the working efficiency of organizations. The use of Wi-Fi–enabled tablets and smart devices by employees has increased business productivity. Workers and technicians in manufacturing enterprises have witnessed an increase in their work productivity according to Intel’s white paper published in 2016.
Increasing number of enterprises are dependent on Wi-Fi products to manage their daily business operations. The wide range of Wi-Fi coverage helps employees to always stay connected from any part of office premises or building. With wireless products and smart devices deployed in organizations, operating expense is lowered and a high return on investments is achieved. Considering many features of Wi-Fi technology and widespread adoption among enterprises, it acts as a major restraint for the anticipated growth of the 5G enterprise industry.
Security concerns in 5G core network
Chief information officers (CIOs) are largely concerned with a network that can lead to a huge loss for businesses and service providers. The 5G network infrastructure has been designed with the help of SDN, NFV, and cloud-native architecture. Network functions are disaggregated from underline infrastructure and located across local, regional, and central data centers. In a cloud-based 5G network, most network functions are deployed over the public and private cloud infrastructure.
Based on network type, private networks are projected to witness a higher CAGR as these networks enable enterprises to reduce their dependence on service providers because when they opt for private networks, they can have full control over operating methods. It also allows separate data processing and storage. Additionally, enterprises can customize the network the way they want.
Based on operator model, communication service providers (CSPs) held a larger market share in 2020. They are keen on utilizing their fully virtualized network architecture, having increasing agility, flexibility, visibility, and cost-efficiency.
Based on infrastructure, core network technology is projected to witness a higher CAGR in the 5G enterprise market during 2021–2027 owing to enhanced end user experience (UX), simplified network operations, increased service creation agility, and improved network capabilities.
Based on spectrum, the licensed spectrum is likely to hold a major share of the market owing to network control and critical use cases for maintaining service quality, especially for end users from the defense and government organizations.
Based on frequency, mmWave would record a higher growth rate in the coming years owing to several advantages offered by this frequency band, such as high bandwidth (for higher data transfer rate), high resolution, low interference (systems with high immunity to cramming), small component sizes, and increased security and cost-efficacy.
Based on organization size, large enterprises are expected to dominate the 5G enterprise market in 2020 as they are anticipated to deploy 5G networks to increase data transmission speed, ensure higher device capacity and spectrum band, and adopt IIoT.
Based on application, AR/VR will be one of the fastest-growing applications in the coming years. Several companies are investing in AR/VR technology, fueling 5G adoption. One of the key factors driving adoption of AR/VR will be gaming sector. For instance, HTC Vive has already begun testing VR through 5G technology.
Based on vertical, manufacturing is attributed to holding a major share of the market in the coming years as leading manufacturers, such as Gabler, are already deploying AR and VR technologies in equipment maintenance and training applications. AR/VR in HD resolution requires more than 100 Mbps for a smooth experience, while technically, the bandwidth requirement can be fulfilled by fiber or Wi-Fi networks; however, some remote sites/factories are not covered by fiber. Issues outside the corporate network can be resolved with 5G technology for AR/VR in manufacturing.
APAC is transforming dynamically with regard to the adoption of new technologies by organizations functioning across various sectors. The region has become the center of attraction for major investments and business expansion opportunities. Companies such as ZTE (China) and Huawei (China) are heavily investing in full-scale 5G enterprise deployment and upcoming 5G technology and are initiating field trials with a few leading mobile service carriers, such as AT&T (US), China Mobile (China), SoftBank (Japan), and China Unicom (China). These companies are entering into partnerships and collaborations with other players to remain dominant in the market.
Some of the prominent players in the 5G Enterprise Market include:
Segments Covered in the Report
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2032. For this study, Nova one advisor, Inc. has segmented the global 5G Enterprise market.
By Spectrum
By Frequency
By Organization Size
By Industry Vertical
By Region
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. COVID 19 Impact on 5G Enterprise Market
5.1. COVID-19 Landscape: 5G Enterprise Industry Impact
5.2. COVID 19 - Impact Assessment for the Industry
5.3. COVID 19 Impact: Global Major Government Policy
5.4. Market Trends and Opportunities in the COVID-19 Landscape
Chapter 6. Market Dynamics Analysis and Trends
6.1. Market Dynamics
6.1.1. Market Drivers
6.1.2. Market Restraints
6.1.3. Market Opportunities
6.2. Porter’s Five Forces Analysis
6.2.1. Bargaining power of suppliers
6.2.2. Bargaining power of buyers
6.2.3. Threat of substitute
6.2.4. Threat of new entrants
6.2.5. Degree of competition
Chapter 7. Competitive Landscape
7.1.1. Company Market Share/Positioning Analysis
7.1.2. Key Strategies Adopted by Players
7.1.3. Vendor Landscape
7.1.3.1. List of Suppliers
7.1.3.2. List of Buyers
Chapter 8. Global 5G Enterprise Market, By Spectrum
8.1. 5G Enterprise Market, by Spectrum, 2023-2032
8.1.1. Licensed
8.1.1.1. Market Revenue and Forecast (2020-2032)
8.1.2. Unlicensed
8.1.2.1. Market Revenue and Forecast (2020-2032)
8.1.3. Shared
8.1.3.1. Market Revenue and Forecast (2020-2032)
Chapter 9. Global 5G Enterprise Market, By Frequency
9.1. 5G Enterprise Market, by Frequency, 2023-2032
9.1.1. Sub-6Ghz
9.1.1.1. Market Revenue and Forecast (2020-2032)
9.1.2. mmWave
9.1.2.1. Market Revenue and Forecast (2020-2032)
Chapter 10. Global 5G Enterprise Market, By Organization Size
10.1. 5G Enterprise Market, by Organization Size, 2023-2032
10.1.1. Small and medium-sized enterprises
10.1.1.1. Market Revenue and Forecast (2020-2032)
10.1.2. Large enterprises
10.1.2.1. Market Revenue and Forecast (2020-2032)
Chapter 11. Global 5G Enterprise Market, By Industry Vertical
11.1. 5G Enterprise Market, by Industry Vertical, 2023-2032
11.1.1. BFSI
11.1.1.1. Market Revenue and Forecast (2020-2032)
11.1.2. Manufacturing
11.1.2.1. Market Revenue and Forecast (2020-2032)
11.1.3. Retail
11.1.3.1. Market Revenue and Forecast (2020-2032)
11.1.4. Healthcare
11.1.4.1. Market Revenue and Forecast (2020-2032)
11.1.5. Energy and Utilities
11.1.5.1. Market Revenue and Forecast (2020-2032)
11.1.6. Transportation and Logistics
11.1.6.1. Market Revenue and Forecast (2020-2032)
11.1.7. Government and Public Safety
11.1.7.1. Market Revenue and Forecast (2020-2032)
11.1.8. Media and Entertainment
11.1.8.1. Market Revenue and Forecast (2020-2032)
11.1.9. Office Buildings
11.1.9.1. Market Revenue and Forecast (2020-2032)
11.1.10. Aerospace and Defense
11.1.10.1. Market Revenue and Forecast (2020-2032)
Chapter 12. Global 5G Enterprise Market, Regional Estimates and Trend Forecast
12.1. North America
12.1.1. Market Revenue and Forecast, by Spectrum (2020-2032)
12.1.2. Market Revenue and Forecast, by Frequency (2020-2032)
12.1.3. Market Revenue and Forecast, by Organization Size (2020-2032)
12.1.4. Market Revenue and Forecast, by Industry Vertical (2020-2032)
12.1.5. U.S.
12.1.5.1. Market Revenue and Forecast, by Spectrum (2020-2032)
12.1.5.2. Market Revenue and Forecast, by Frequency (2020-2032)
12.1.5.3. Market Revenue and Forecast, by Organization Size (2020-2032)
12.1.5.4. Market Revenue and Forecast, by Industry Vertical (2020-2032)
12.1.6. Rest of North America
12.1.6.1. Market Revenue and Forecast, by Spectrum (2020-2032)
12.1.6.2. Market Revenue and Forecast, by Frequency (2020-2032)
12.1.6.3. Market Revenue and Forecast, by Organization Size (2020-2032)
12.1.6.4. Market Revenue and Forecast, by Industry Vertical (2020-2032)
12.2. Europe
12.2.1. Market Revenue and Forecast, by Spectrum (2020-2032)
12.2.2. Market Revenue and Forecast, by Frequency (2020-2032)
12.2.3. Market Revenue and Forecast, by Organization Size (2020-2032)
12.2.4. Market Revenue and Forecast, by Industry Vertical (2020-2032)
12.2.5. UK
12.2.5.1. Market Revenue and Forecast, by Spectrum (2020-2032)
12.2.5.2. Market Revenue and Forecast, by Frequency (2020-2032)
12.2.5.3. Market Revenue and Forecast, by Organization Size (2020-2032)
12.2.5.4. Market Revenue and Forecast, by Industry Vertical (2020-2032)
12.2.6. Germany
12.2.6.1. Market Revenue and Forecast, by Spectrum (2020-2032)
12.2.6.2. Market Revenue and Forecast, by Frequency (2020-2032)
12.2.6.3. Market Revenue and Forecast, by Organization Size (2020-2032)
12.2.6.4. Market Revenue and Forecast, by Industry Vertical (2020-2032)
12.2.7. France
12.2.7.1. Market Revenue and Forecast, by Spectrum (2020-2032)
12.2.7.2. Market Revenue and Forecast, by Frequency (2020-2032)
12.2.7.3. Market Revenue and Forecast, by Organization Size (2020-2032)
12.2.7.4. Market Revenue and Forecast, by Industry Vertical (2020-2032)
12.2.8. Rest of Europe
12.2.8.1. Market Revenue and Forecast, by Spectrum (2020-2032)
12.2.8.2. Market Revenue and Forecast, by Frequency (2020-2032)
12.2.8.3. Market Revenue and Forecast, by Organization Size (2020-2032)
12.2.8.4. Market Revenue and Forecast, by Industry Vertical (2020-2032)
12.3. APAC
12.3.1. Market Revenue and Forecast, by Spectrum (2020-2032)
12.3.2. Market Revenue and Forecast, by Frequency (2020-2032)
12.3.3. Market Revenue and Forecast, by Organization Size (2020-2032)
12.3.4. Market Revenue and Forecast, by Industry Vertical (2020-2032)
12.3.5. India
12.3.5.1. Market Revenue and Forecast, by Spectrum (2020-2032)
12.3.5.2. Market Revenue and Forecast, by Frequency (2020-2032)
12.3.5.3. Market Revenue and Forecast, by Organization Size (2020-2032)
12.3.5.4. Market Revenue and Forecast, by Industry Vertical (2020-2032)
12.3.6. China
12.3.6.1. Market Revenue and Forecast, by Spectrum (2020-2032)
12.3.6.2. Market Revenue and Forecast, by Frequency (2020-2032)
12.3.6.3. Market Revenue and Forecast, by Organization Size (2020-2032)
12.3.6.4. Market Revenue and Forecast, by Industry Vertical (2020-2032)
12.3.7. Japan
12.3.7.1. Market Revenue and Forecast, by Spectrum (2020-2032)
12.3.7.2. Market Revenue and Forecast, by Frequency (2020-2032)
12.3.7.3. Market Revenue and Forecast, by Organization Size (2020-2032)
12.3.7.4. Market Revenue and Forecast, by Industry Vertical (2020-2032)
12.3.8. Rest of APAC
12.3.8.1. Market Revenue and Forecast, by Spectrum (2020-2032)
12.3.8.2. Market Revenue and Forecast, by Frequency (2020-2032)
12.3.8.3. Market Revenue and Forecast, by Organization Size (2020-2032)
12.3.8.4. Market Revenue and Forecast, by Industry Vertical (2020-2032)
12.4. MEA
12.4.1. Market Revenue and Forecast, by Spectrum (2020-2032)
12.4.2. Market Revenue and Forecast, by Frequency (2020-2032)
12.4.3. Market Revenue and Forecast, by Organization Size (2020-2032)
12.4.4. Market Revenue and Forecast, by Industry Vertical (2020-2032)
12.4.5. GCC
12.4.5.1. Market Revenue and Forecast, by Spectrum (2020-2032)
12.4.5.2. Market Revenue and Forecast, by Frequency (2020-2032)
12.4.5.3. Market Revenue and Forecast, by Organization Size (2020-2032)
12.4.5.4. Market Revenue and Forecast, by Industry Vertical (2020-2032)
12.4.6. North Africa
12.4.6.1. Market Revenue and Forecast, by Spectrum (2020-2032)
12.4.6.2. Market Revenue and Forecast, by Frequency (2020-2032)
12.4.6.3. Market Revenue and Forecast, by Organization Size (2020-2032)
12.4.6.4. Market Revenue and Forecast, by Industry Vertical (2020-2032)
12.4.7. South Africa
12.4.7.1. Market Revenue and Forecast, by Spectrum (2020-2032)
12.4.7.2. Market Revenue and Forecast, by Frequency (2020-2032)
12.4.7.3. Market Revenue and Forecast, by Organization Size (2020-2032)
12.4.7.4. Market Revenue and Forecast, by Industry Vertical (2020-2032)
12.4.8. Rest of MEA
12.4.8.1. Market Revenue and Forecast, by Spectrum (2020-2032)
12.4.8.2. Market Revenue and Forecast, by Frequency (2020-2032)
12.4.8.3. Market Revenue and Forecast, by Organization Size (2020-2032)
12.4.8.4. Market Revenue and Forecast, by Industry Vertical (2020-2032)
12.5. Latin America
12.5.1. Market Revenue and Forecast, by Spectrum (2020-2032)
12.5.2. Market Revenue and Forecast, by Frequency (2020-2032)
12.5.3. Market Revenue and Forecast, by Organization Size (2020-2032)
12.5.4. Market Revenue and Forecast, by Industry Vertical (2020-2032)
12.5.5. Brazil
12.5.5.1. Market Revenue and Forecast, by Spectrum (2020-2032)
12.5.5.2. Market Revenue and Forecast, by Frequency (2020-2032)
12.5.5.3. Market Revenue and Forecast, by Organization Size (2020-2032)
12.5.5.4. Market Revenue and Forecast, by Industry Vertical (2020-2032)
12.5.6. Rest of LATAM
12.5.6.1. Market Revenue and Forecast, by Spectrum (2020-2032)
12.5.6.2. Market Revenue and Forecast, by Frequency (2020-2032)
12.5.6.3. Market Revenue and Forecast, by Organization Size (2020-2032)
12.5.6.4. Market Revenue and Forecast, by Industry Vertical (2020-2032)
Chapter 13. Company Profiles
13.1. AT&T
13.1.1. Company Overview
13.1.2. Product Offerings
13.1.3. Financial Performance
13.1.4. Recent Initiatives
13.2. Ericsson
13.2.1. Company Overview
13.2.2. Product Offerings
13.2.3. Financial Performance
13.2.4. Recent Initiatives
13.3. Huawei Technologies co. Ltd.
13.3.1. Company Overview
13.3.2. Product Offerings
13.3.3. Financial Performance
13.3.4. Recent Initiatives
13.4. Juniper Network
13.4.1. Company Overview
13.4.2. Product Offerings
13.4.3. Financial Performance
13.4.4. Recent Initiatives
13.5. NEC Corporation
13.5.1. Company Overview
13.5.2. Product Offerings
13.5.3. Financial Performance
13.5.4. Recent Initiatives
13.6. Nokia Corporation
13.6.1. Company Overview
13.6.2. Product Offerings
13.6.3. Financial Performance
13.6.4. Recent Initiatives
13.7. Samsung
13.7.1. Company Overview
13.7.2. Product Offerings
13.7.3. Financial Performance
13.7.4. Recent Initiatives
13.8. SK Telecom
13.8.1. Company Overview
13.8.2. Product Offerings
13.8.3. Financial Performance
13.8.4. Recent Initiatives
13.9. Verizon Communications LTD
13.9.1. Company Overview
13.9.2. Product Offerings
13.9.3. Financial Performance
13.9.4. Recent Initiatives
13.10. ZTE Corporation
13.10.1. Company Overview
13.10.2. Product Offerings
13.10.3. Financial Performance
13.10.4. Recent Initiatives
Chapter 14. Research Methodology
14.1. Primary Research
14.2. Secondary Research
14.3. Assumptions
Chapter 15. Appendix
15.1. About Us
15.2. Glossary of Terms
Cross-segment Market Size and Analysis for
Mentioned Segments
Additional Company Profiles (Upto 5 With No Cost)
Additional Countries (Apart From Mentioned Countries)
Country/Region-specific Report
Go To Market Strategy
Region Specific Market DynamicsRegion Level Market Share Import Export AnalysisProduction AnalysisOthers