Global 5G Enterprise Market to Reach US$ 45.5 Billion by 2032, Stimulated by Increasing Adoption of 5G Enterprise Solutions in Retail Industry

May 31, 2023 | Technology & Media

According to the latest report by IMARC Group, titled "5G Enterprise Market Report by Frequency (Sub-6Ghz, mmWave), Spectrum (Licensed, Unlicensed/Shared), Network Type (Hybrid Networks, Private Networks, Enterprise Network, CSP Network), Organization Size (Small and Medium-sized Enterprises, Large Enterprises), Industry Vertical (BFSI, Healthcare, Retail and E-Commerce, IT and Telecom, Manufacturing, Government and Public Sector, Energy and Utility, Media and Entertainment, and Others), and Region 2024-2032," the global 5G enterprise market reached a value of US$ 4.1 Billion in 2023. 5G enterprise refers to deploying and utilizing fifth-generation (5G) wireless technology in the business and industrial sectors. Unlike previous generations of wireless networks, 5G offers unprecedented speed, capacity, low latency, and reliability, which makes it highly suitable for meeting the advanced connectivity requirements of enterprises. 5G enterprise networks enhance businesses' connectivity, enabling them to leverage various transformative technologies. These technologies include the Internet of Things (IoT), augmented reality (AR), virtual reality (VR), artificial intelligence (AI), and machine learning (ML). One of the key advantages of 5G enterprise is its ability to support massive IoT deployments. With its high device density and low latency, 5G enables seamless connectivity and communication between many IoT devices. This opens up opportunities for smart manufacturing, smart cities, intelligent transportation systems, and other IoT-driven applications. It also provides reliable and high-speed connectivity for mission-critical applications.

Global 5G Enterprise Market Trends:

The global market is majorly driven by the increasing demand for high-speed and reliable connectivity. In line with this, the growing need for advanced digital technologies is significantly contributing to the market. Furthermore, the widespread adoption of the Internet of Things (IoT) applications and the emergence of Industry 4.0 initiatives are positively influencing the market. Apart from this, the significant increase in data consumption and the increasing reliance on cloud-based applications and services are catalyzing the market. Moreover, advanced technologies, such as augmented reality (AR), virtual reality (VR), artificial intelligence (AI), and machine learning (ML), are becoming increasingly prevalent in various industries. These technologies require high-bandwidth, low-latency networks to deliver immersive experiences and process large amounts of data in real-time, which, in turn, is propelling the market. Besides, the development of smart infrastructure is strengthening market expansion. Additionally, the rising capability of 5G services to support SD-WAN and offer connectivity for numerous applications that are needed to be run in remote areas is favorably impacting the market. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 45.5 Billion by 2032, exhibiting a CAGR of 30% during 2024-2032.

Market Summary:

On the basis of the frequency, the market has been categorized into Sub-6Ghz and mmWave.
Based on the spectrum, the market has been classified into licensed and unlicensed/shared.
Based on the network type, the market has been divided into hybrid networks, private networks, enterprise network, and CSP network.
Based on the organization size, the market has been categorized into small and medium-sized enterprises and large enterprises.
Based on the industry vertical, the market has been classified into BFSI, healthcare, retail and e-commerce, IT and telecom, manufacturing, government and public sector, energy and utility, media and entertainment, and others.
Region-wise, the market has been segmented into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and Others), Europe (Germany, France, United Kingdom, Italy, Spain, Russia, and Others), Latin America (Brazil, Mexico, and Others), and Middle East and Africa.
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players. Some of these players include AT&T Inc., Cisco Systems Inc., Fujitsu Limited, Hewlett Packard Enterprise Company, Huawei Technologies Co. Ltd., Juniper Networks Inc., Nokia Corporation, Oracle Corporation, Samsung Electronics Co. Ltd., Telefonaktiebolaget LM Ericsson, Verizon Communications Inc., and ZTE Corporation.

Report Coverage:

Report Features	Details
Base Year of the Analysis	2023
Historical Period	2018-2023
Forecast Period	2024-2032
Units	US$ Billion
Segment Coverage	Frequency, Spectrum, Network Type, Organization Size, Industry Vertical, Region
Region Covered	Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered	United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered	AT&T Inc., Cisco Systems Inc., Fujitsu Limited, Hewlett Packard Enterprise Company, Huawei Technologies Co. Ltd., Juniper Networks Inc., Nokia Corporation, Oracle Corporation, Samsung Electronics Co. Ltd., Telefonaktiebolaget LM Ericsson, Verizon Communications Inc. and ZTE Corporation.
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Global 5G Enterprise Market to Reach US$ 45.5 Billion by 2032, Stimulated by Increasing Adoption of 5G Enterprise Solutions in Retail Industry

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