As per the Market Statsville Group, theGlobal 5G Enterprise market size was valued at USD 2.1 billion in 2021 and is projected to reach USD 21.7 billion by 2030, growing at a CAGR of 33.9% from 2022 to 2030. 5G enterprise is a growing technology that can transform underlying architectures in the networks and promote AI, automation, and virtualization. It changes the network possibilities and underlying IT system of the business. It is used to explore technology such as network slicing and edge computing in businesses. It provides high-speed 5G internet and communication. 5G provides up to 10 Gbps data speed, which has approximately ten times more speed than 4G networks. 5G enterprise solutions also help push new technology such as machine learning, robotics, internet of things, and artificial intelligence, driving the digital transformation within the organization and outside the organization by high customer engagement.
Numerous factors such as the growing use of network slicing to deliver different 5G mmWaves and increasing use of smartphones among all age groups drive the 5G enterprise market globally. Moreover, the rise in the development of smart telecommunication infrastructure also drives the market globally. However, security concerns in the 5G core networks, heavy investment, and high initial cost of 5G enterprise solutions restrain the market’s growth globally. Furthermore, several countries’ increasing investment in mobile computing and communication solutions and the increasing need for low latency connectivity are anticipated to create lucrative opportunities globally in the 5G enterprise market.
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Definition of Global 5G Enterprise Market
5G is a technology that transforms underlying architecture in core networks and promotes virtualization, AI, and automation. It changes the possibilities of networks, applications, and underlying IT systems.
5G enterprise is based on the fifth-generation wireless communication technology, upgraded from of 4G wireless network. It is obtained using a high frequency and short-range radio spectrum band. 5G Enterprise offers low latency and high internet.
Global 5G Enterprise Market Covid-19 Impact
The global COVID-19 pandemic has extremely affected businesses across the world. It has positively affected the adoption of the 5G enterprise solution due to the lockdown imposed by governments of different countries. Employees have to work from home, which has increased cloud infrastructure usage and the adoption of remote workspace applications. This in turn, is expected to increase internet traffic. Global lockdown restricted the auction of the 5G spectrum, which delayed the implementation of the 5G enterprise. In the post-COVID-19 situation; companies are focusing on advanced technology such as augmented reality, virtual reality, and the internet of things to perform contact less operations in the industry verticals such as manufacturing, energy and utility, and others, which will, in turn, drive the adoption of 5G enterprise solutions globally.
Global 5G Enterprise Market Dynamics
Drivers: Growing penetration of smartphones, laptops/ desktops, and wearables across the globe
The use of smartphones across developed and in developing economies is increasing due to numerous factors such as cost affordability, increased per capita income, availability of multiple low price options with significant features, and others.
Growing application of the bring-your-own-device policy and work from home adoption by many organizations due to the COVID-19 pandemic has increased the use of smartphones and laptops/desktops for official purposes. Many organizations and institutions use 5G enterprise to provide various network-related services to its employees. For instance, in May 2021, the survey done by the website bankmycell.com shows that the number of smartphone users is increasing. The number of smartphone users in the world is more than 3.8 Billion, which translates to 48.33% of the world’s population owning a smartphone and the number of people that own a smart and feature phone is 4.88 Billion, making up 62.07% of the world’s population.
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Restraints: High implementation cost of 5G enterprise solutions
As 5G enterprise has a low operational cost, it provides high-speed internet data at a low cost. However, it has a high cost of deployment and implementation. The infrastructure required to deploy the 5G enterprise is very expensive, and it is difficult to deploy the 5G enterprise in emerging economies. The number of countries, local authority, and regulation policies associated with wireless solutions have slowed the problem in the development of 5G enterprises through excessive administrative and financial obligations on operators, therefore blocking investment.
Scope of the Global 5G Enterprise Market
The 5G enterprise market has been categorized based on the frequency, spectrum, network type, organization size, industry vertical, and region.
By Frequency Outlook (Sales, USD Billion, 2017–2030)
- Sub-6Ghz
- mmWave
By Spectrum Outlook (Sales, USD Billion, 2017–2030)
- Licensed
- Unlicensed/Shared
By Network Type Outlook (Sales, USD Billion, 2017–2030)
- Hybrid Networks
- Private Networks
- Enterprise Network
- CSP Network
By Organization Size Outlook (Sales, USD Billion, 2017–2030)
- Small and medium-sized enterprises
- Large enterprises
By Industry Vertical Outlook (Sales, USD Billion, 2017–2030)
- BFSI
- Healthcare
- Retail & E-commerce
- IT & Telecom
- Manufacturing
- Government and Public Sector
- Energy and Utility
- Media & Entertainment
- Others
By Region Outlook (Sales, USD Billion, 2017–2030)
- North America (US, Canada, Mexico)
- South America (Brazil, Argentina, Colombia, Peru, Rest of Latin America)
- Europe (Germany, Italy, France, UK, Spain, Poland, Russia, Slovenia, Slovakia, Hungary, Czech Republic, Belgium, the Netherlands, Norway, Sweden, Denmark, Rest of Europe)
- Asia Pacific (China, Japan, India, South Korea, Indonesia, Malaysia, Thailand, Vietnam, Myanmar, Cambodia, the Philippines, Singapore, Australia & New Zealand, Rest of Asia Pacific)
- The Middle East & Africa (Saudi Arabia, UAE, South Africa, Northern Africa, Rest of MEA)
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The Sub-6GHz segment accounts for the largest market share
On the basis of frequency, the global 5G enterprise market is bifurcated into Sub-6GHz and mmWave. In 2021, the Sub-6GHz segment was the highest contributor to the global 5G enterprise market. Sub-6 GHz 5G refers to 5G deployments using spectrum under 6 GHz. Sub-6Ghz includes radio frequency bands below 6 GHz (6,000 MHz). Before 2019, all radio frequency bands were below 6 GHz for mobile phones.
The foremost use cases of 5G technology are mMTC, eMBB, and URLLC. Collectively they are known as the flagship of 5G. mMTC is used for long battery life and device density requirements. However, uRLLC is used for low latency and high-reliability requirements, and eMMB is used for faster data rates and higher spectral efficiency requirements. There are some benefits of sub-6Ghz: diversion of the path of transmitted signal in Sub-6Ghz is less than mm-wave frequencies, and as it has a low frequency, it can penetrate the thick wall and provide good internet speed in enclosed space.
Asia Pacific is the fastest-growing region during the forecast period
Based on the regions, the global 5G enterprise market has been segmented across North America, Asia–Pacific, Europe, South America, and the Middle East & Africa. Globally, Asia Pacific is estimated to hold the highest CAGR of 37.6% in the global 5G enterprise market during the forecast period. The Asia-Pacific 5G enterprise market is analyzed across countries such as China, Japan, India, South Korea, Australia, and the Rest of Asia-Pacific. Asia-Pacific-based industries and government entities are restructuring their network infrastructure to offer low latency and high-speed networking services to end-users. The adoption of 5G enterprises is continuously growing in indoor applications, resulting in constantly growing internet traffic and connections caused due to the outbreak of the COVID-19 pandemic, which surges the need for next-generation networking services.
The mobile cellular and telecommunication industry in Asia-Pacific is rolling out diverse technical and commercial solutions with the arrival of small cells for 5G networks. This is a major factor driving the adoption of 5G enterprise solutions in this region. State-owned mobile operators in China, such as China Mobile, China Unicom, and China Telecom, have invested in a 5G national action plan to orchestrate its industry R&D and deployment efforts through central government support.
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Key players in the 5G enterprise market are Ericsson, Huawei technologies co. Ltd., AT&T, NEC Corporation, Nokia Corporation, Samsung, SK Telecom, Juniper Network, Verizon Communications LTD, and ZTE Corporation.
The global 5G enterprise market’s large number of providers increases competition among key players. To gain a competitive advantage and maintain their market position, 5G enterprise technology providers are differentiating themselves from competitors and driving revenue growth by incorporating new digital business technologies such as artificial intelligence, machine learning, and low-cost data into their offerings.