The global 5G enterprise market size was US$ 2 billion in 2021. The global 5G enterprise market is forecast to reach US$ 21.1 billion by 2030 by registering a compound annual growth rate (CAGR) of 31.9% during the forecast period from 2022 to 2030.
5G enterprise is an evolving technology having the promising potential to transform underlying architecture. The technology is expected to prompt the use of AI, automation, and virtualization.
Factors Influencing the Market
The fact that 5G enterprise technology offers high-speed 5G internet and communication will drive the growth of the market. Furthermore, 5G delivers up to 10 Gbps data speed, which is significantly more efficient than 4G networks. As a result, it will fuel the growth of the 5G enterprise market.
Growing penetration of smartphones, laptops, and wearable technology will fuel the growth of the 5G enterprise market. In addition, the rising trend of bring-your-own-device will contribute to the 5G enterprise market growth.
Growing demand for work-from-home models will also escalate the adoption of laptops and smartphones. Thus, it will drive the 5G enterprise market forward. In addition to that, various organizations and institutions use 5G enterprise to offer network-related services to the employees. Thus, it will surge the growth of the 5G enterprise market. On the contrary, the high implementation cost of 5G enterprise solutions may limit the growth of the 5G enterprise market.
COVID-19 Impact Analysis
The global COVID-19 pandemic has upsurged the demand for smart devices, such as smartphones, laptops, and computers. Educational institutions started providing online classes. Meanwhile, companies also adopted the work-from-home model, which ultimately boosted the adoption of mobile phones, laptops, etc. Thus, it positively affected the 5G enterprise market. The COVID-19 pandemic also amplified the growth of the cloud infrastructure and internet traffic. However, the challenges associated with the COVID-19 pandemic delayed the implementation of the 5G enterprise across various parts of the world. Thus, it hampered the growth of the 5G enterprise market during the study period.
Regional Analysis
Globally, the Asia-Pacific 5G enterprise market is forecast to emerge as the largest market, owing to the rapidly growing 5G implementation in China. Furthermore, government entities are also restructuring their network infrastructure in order to add advanced features and offer low latency and high-speed networking services to the population.
The mobile cellular and telecommunication industry is growing steadily due to the rising adoption of communication devices. The presence of prominent industry players, such as China Telecom, China Mobile, China Unicom, etc., which are investing highly in this technology, will contribute to the growth of the 5G enterprise market during the forecast period.
Competitors in the Market
Market Segmentation
By Frequency Outlook
By Spectrum Outlook
By Network Type Outlook
By Organization Size Outlook
By Industry Vertical Outlook
By Regional Outlook
