Press release
Strong Growth Ahead: 5th Generation (5G) Enterprise Market Size To Grow At Arecord 33.6% Cagr By 2029
5th Generation (5G) Enterprise Market Growth
How Big Is the 5th Generation (5G) Enterprise Market Size Expected to Be by 2034?
The market size of the 5th generation (5G) enterprise has seen substantial growth in the past few years. The market is anticipated to rise from $4.62 billion in 2024 to $6.19 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 34.0%. Factors contributing to this growth during the historical period include increased IoT integration, the need for improved connectivity, the development of industry-specific applications, regulatory backing and standards development, and technological progress.
The market size for 5th generation (5G) enterprise is set to witness substantial growth in the near future, with an anticipated rise to $19.74 billion by 2029, and a compound annual growth rate (CAGR) of 33.6%. This projected growth is due to multiple factors including wider adoption of Industry 4.0, the proliferation of edge computing, heightened cybersecurity efforts, the development of industry-tailored solutions, economic recovery, and digital transformation. Key trends expected to feature throughout this period are the quick take-up of private 5G networks, the fusion of AI and IoT with 5G, the surfacing of network slicing services, an emphasis on eco-friendly and sustainable 5G, and the broadening of collaborations across multiple sectors.
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What Are the Emerging Segments Within the 5th Generation (5G) Enterprise Market?
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
Subsegments:
1) By Hybrid Networks: Combination Of Private And Public Networks, Integration With Cloud Networks
2) By Private Networks: On-premises Private 5G Networks, Remote or Distributed Private 5G Networks
3) By Enterprise Network: Large Enterprise Networks, Small And Medium Enterprise Networks
4) By Communication Service Provider (CSP) Network: CSP-owned 5G Networks, CSP-managed Private 5G Networks
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What Long-Term Drivers Are Shaping 5th Generation (5G) Enterprise Market Trends?
The rise in the use of IoT devices is anticipated to accelerate the expansion of the 5G enterprise market. IoT devices are physical items that are integrated with sensors, software, and the capability to connect, allowing the device to gather, exchange, and process data without the need for human participation. The increasing demand for IoT devices is due to automation and efficiency, enhanced connection capacity, and customer needs. The ultra-fast velocities and minimum latency provided by 5G pave the way for flawless connection for IoT devices, facilitating real-time data transmission and extensive deployments across various applications like industrial automation and the development of smart cities. As an example, a report published by Ericsson, a telecommunications firm based in Sweden, in September 2023 indicated that global IoT connections amounted to 15.7 billion in 2023, and they are projected to rise by 16% to 38.9 billion connections by 2029. Consequently, the rise in the use of IoT devices is boosting the growth of the 5G enterprise market.
Who Are the Top Competitors in Key 5th Generation (5G) Enterprise Market Segments?
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
What 5th Generation (5G) Enterprise Market Trends Are Gaining Traction Across Different Segments?
Leading firms in the 5G enterprise market are keen on establishing private networks like 5G wireless networks to cater to specific communication needs. The fifth generation of cell network technology, also known as a 5G wireless network, offers significantly increased data speed, reduced latency, greater network capacity, and better reliability than its predecessors. For example, in February 2024, Wipro Ltd., a technology corporation based in India, together with Nokia Corporation, a telecommunications firm from Finland, introduced a co-developed private 5G wireless solution for enterprises. The goal of this collaboration is to hasten the digital shift and foster innovation in businesses by equipping them with advanced connectivity and AI-booted features. Through this partnership, enterprises are presented with the opportunity to escalate their digital transformation while managing security threats, and enhancing them to efficiently streamline their operations.
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Which Regions Are Becoming Hubs for 5th Generation (5G) Enterprise Market Innovation?
North America was the largest region in the 5th generation (5G) enterprise market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the 5th generation (5G) enterprise market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the 5th Generation (5G) Enterprise Market?
2. What is the CAGR expected in the 5th Generation (5G) Enterprise Market?
3. What Are the Key Innovations Transforming the 5th Generation (5G) Enterprise Industry?
4. Which Region Is Leading the 5th Generation (5G) Enterprise Market?
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