The overall 5G enterprise market is estimated to be valued at USD 2.3 billion in 2020 and is further projected to reach USD 31.7 billion by 2026, at a CAGR of 54.4%
NEW YORK, April 8, 2019 /PRNewswire/ -- 5G enterprise market to grow at a CAGR of 54.4% during forecast period
The overall 5G enterprise market is estimated to be valued at USD 2.3 billion in 2020 and is further projected to reach USD 31.7 billion by 2026, at a CAGR of 54.4%. The growth of this market is attributed to 5G enterprise connectivity platform is expected to enable several industries with a single network, unified 5G enterprise network is likely to boost cross-industry connection and industrial application development, and rising importance of software implementation is expected in the communication network. Key restraining factors of the global 5G enterprise market are the growth of Wi-Fi communication technology as de-facto connectivity technology among enterprises, and the lack of authority in owning and managing corporate network.
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Radio node to hold largest size of 5G enterprise market by 2026
Radio node is expected to hold the largest size of the 5G enterprise market by 2026.Radio nodes are emerging as an efficient and cost-effective alternative for network expansion for mobile network operators with low operating and capital costs.
These radio nodes are available in a compact form and are easy to install. The nodes consume less power that can be supplied using Power-over-Ethernet (POE) technology and can be deployed both indoors and outdoors.
NFV to grow at highest CAGR during forecast period
The 5G enterprise market for the NFV core network technology is expected to grow at the highest CAGR during the forecast period.NFV is designed in such a way that network operators can easily implement different network functions via software that can run on standard server hardware and can be easily shifted or installed in different locations in the network as per the requirement without the need for installing new hardware equipment.
Further, there will be no need for a network operator to make separate provision of capital for data centers, thereby reducing both CAPEX and OPEX.
APAC to hold largest size of 5G enterprise market by 2026
The 5G enterprise market is segmented into North America, Europe, APAC, and RoW.RoW includes the Middle East and Africa, and South America.
APAC is expected to hold the largest size of 5G enterprise market by 2026 owing to the urbanization of developing economies and the need to sustain the development of smart cities in developed economies.APAC is the world's most dynamic region for urbanization as it homes a majority of developing countries that are undergoing rapid urbanization.
China, India, South Korea, Australia, and Japan are the major economies in APAC witnessing rapid adoption of advanced technologies, including the cloud, enterprise mobility, core network technologies, such as NFV and SDN.
Breakdown of profiles of primary participants:
• By Company Type: Tier 1 – 55%, Tier 2 – 35%, and Tier 3 – 10%
• By Designation: C- Level Executives – 65%, Directors – 25%, and Others– 10%
• By Region: North America – 45%, APAC – 26%, Europe – 22%, and RoW – 7%
The companies profiled in this report are Huawei (China), Ericsson (Sweden), Nokia Networks (Finland), ZTE (China), Samsung (South Korea), NEC (Japan), Cisco (US), Fujitsu (Japan), Juniper Networks (US), Hewlett Packard Enterprise (US), AT&T (US), Verizon Communications (US), CommScope (US), and SK Telecom (South Korea), among others.
Research Coverage:
The report describes the 5G enterprise market and related developments in the market in terms of access equipment, core network technology, services, organization size, and end user across different regions. Furthermore, the report also includes an in-depth competitive analysis of key players in the market along with their company profiles, recent developments, and key growth strategies.
Reasons to Buy the Report:
• This report includes the market statistics pertaining to various segments, along with their respective revenues.
• The major drivers, restraints, opportunities, and challenges for the 5G enterprise market have been detailed in this report.
• Illustrative segmentation, analysis, and forecast based on access equipment, core network technology, services, organization size, end user, and geography have been provided to give an overall view of the 5G enterprise market.
• A detailed competitive landscape has been provided including key players, in-depth analysis, and revenue of key players.
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