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5th Generation (5G) Enterprise Market: Market Size, Share, and Key Drivers Unveiling Growth Opportunities and Demand Forecast!
5th Generation (5G) Enterprise Market
As per the report, the 5th generation (5G) enterprise market size has grown exponentially in recent years. It will grow from $3.46 billion in 2023 to $4.62 billion in 2024 at a compound annual growth rate (CAGR) of 33.6%. The 5th generation (5G) enterprise market size is expected to see exponential growth in the next few years. It will grow to $14.78 billion in 2028 at a compound annual growth rate (CAGR) of 33.7%.
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IoT Adoption Fuels Expansion Of The 5G Enterprise Market
The growing adoption of IoT devices is expected to propel the growth of the 5G enterprise market going forward. IoT devices refer to physical objects embedded with sensors, software, and connectivity capabilities, allowing them to collect, exchange, and act on data without human intervention. The factors contributing to the increased demand for IoT (Internet of Things) devices are automation and efficiency, improved connectivity, and consumer demand. 5G provides ultra-fast speeds and low latency, enabling seamless connectivity for IoT devices, supporting real-time data transmission and massive deployments across diverse applications such as industrial automation and smart cities. For instance, in September 2023, according to a report published by Ericsson, a Sweden-based telecommunications company, global IoT connections reached 15.7 billion connections in 2023 and are expected to increase by 16% to 38.9 billion connections by 2029. Therefore, the growing adoption of IoT devices is driving the growth of the 5G enterprise market.
Innovative Solutions Drive Competitive Advantages In The 5G Enterprise Sector
Major companies in the 5G enterprise market are interested in deploying private networks, such as 5G wireless networks, to meet specific communication requirements. A 5G wireless network is the fifth generation of cellular network technology designed to provide significantly faster data speeds, lower latency, increased network capacity, and improved reliability compared to previous generations. For instance, in February 2024, Wipro Ltd., an India-based technology company, and Nokia Corporation, a Finland-based telecommunications company, launched a joint private 5G wireless solution for enterprises. This partnership seeks to propel businesses towards digital transformation and innovation, empowering them with enhanced connectivity and AI-driven capabilities. This partnership allows enterprises to scale their digital transformation, mitigate security risks, and optimize their operations effectively.
The 5th generation (5g) enterprise market covered in this report is segmented -
1) By Network Type: Hybrid Networks, Private Networks, Enterprise Network, Communication Service Provider (CSP) Network
2) By Frequency Band: Sub-6GHz, mmWave
3) By Infrastructure: Access Equipment, Small Cells, E-RAN Equipment (Service Node), Core Network, Software-Defined Networking (SDN), Network Function Virtualization (NFV)
4) By Application: Mobile Robots (AGV), Video Analytics, Drones, Augmented Reality (AR) Or Virtual Reality (VR), Communication, Other Applications
5) By Vertical: Banking, Financial Services, And Insurance (BFSI), Manufacturing, Energy And Utilities, Retail, Healthcare, Government And Public Safety, Transportation And Logistics, Aerospace And Defense, Media And Entertainment, Office Buildings
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Major companies operating in the 5th generation (5G) enterprise market report are Samsung Electronics Co. Ltd., Microsoft Corporation, Verizon Communications Inc., AT&T Inc., Huawei Technologies Co. Ltd., Intel Corporation, Vodafone Group Plc, Cisco Systems Inc., Qualcomm Incorporated, Oracle Corporation, NTT Docomo Inc., Hewlett Packard Enterprise Company, Telefonaktiebolaget LM Ericsson, Nokia Corporation, NEC Corporation, ZTE Corporation, Telstra Corporation Limited, SK Telecom Co. Ltd., CommScope Holding Company Inc., Juniper Networks Inc., Ciena Corporation, Fujitsu Limited, Mavenir plc
Contents of the report:
1. Executive Summary
2. 5th Generation (5G) Enterprise Market Report Structure
3. 5th Generation (5G) Enterprise Market Trends And Strategies
4. 5th Generation (5G) Enterprise Market - Macro Economic Scenario
5. 5th Generation (5G) Enterprise Market Size And Growth
…..
27. 5th Generation (5G) Enterprise Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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