DUBLIN--(BUSINESS WIRE)--The "5G Enterprise Market by Network Type (Hybrid Network, Private Network), Operator Model, Infrastructure, Spectrum, Frequency Band, Organization Size, Application, Vertical, Region - Global Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The 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%.
Sub-6 GHz is attributed to hold a major share of the 5G enterprise market during the forecast period
Sub-6 GHz held a larger market share in 2020 as it offers an amalgamation of coverage and capacity benefits to 5G users. The Sub-6 GHz spectrum is needed for extensive coverage of high-speed 5G mobile broadband across urban, suburban, and rural areas, as well as help support IoT services. It is essential that regulators assign as much coherent spectrum as possible in the 3.3-3.8 GHz range and consider the 4.5-5 GHz and 3.8-4.2 GHz ranges for mobile use.
Small and medium-sized enterprises are projected to witness the highest CAGR for the forecasted period
Small and medium-sized enterprises are projected to witness the highest CAGR for the forecasted period as they are intended to adopt 5G enterprise networks at a larger scale in coming years to enhance their business functionality by having a unified solution that would allow the management (provisioning, monitoring, and control) of the entire distributed set of networks with limited resources.
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.
Healthcare is expected to witness the highest CAGR during the forecast period
Healthcare is expected to witness the highest CAGR during the forecast period owing to the surging number of use cases and applications of 5G networks in the telemedicine market. For the healthcare sector, the 5G network infrastructure facilitates HD video calls and images. 5G network works at high speed; in other words, it has low latency time, which is an essential requirement of healthcare institutions, hospitals, and life science research centers for multiple applications and use cases, such as connected health devices, mHealth, and telemedicine, thereby enabling interaction between patients, doctors, medical experts, and scientists that are present at remote locations, as well as share digital images wirelessly from any site.
APAC is attributed to hold a major share of the 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.
- Emergence of Industry 4.0 Paving Way for Mmtc
- Development of Smart Infrastructure
- Delivery of Differentiated 5G Services Using Network Slicing Technique
- Adoption of Wi-Fi Communication Technology by Enterprises
- Security Concerns in 5G Core Network
- Low Latency Connectivity with Urllc
- Increasing Demand for Private 5G Networks from Various Enterprises and Government Organizations for Mission-Critical Applications
- Requirement for High Spending Capability of Carriers to Set Up 5G Infrastructure
- Affirmed Networks (Microsoft)
- Airspan Networks
- American Tower
- Comba Telecom Systems
- Extreme Networks
- Hewlett Packard Enterprise
- Huawei Technologies
- Juniper Networks
- Nokia Networks
- SK Telecom
- Verizon Communications
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