The 5G enterprise market is expected to grow from USD 2.1 billion in 2021 to USD 10.9 billion by 2027, at a CAGR of 31.8%. A few major factors driving the growth of this market are the emergence of Industry 4.0 paving the way for mMTC, the development of smart infrastructure, and the delivery of differentiated 5G services using network slicing technique. The critical challenge faced by the market players is the requirement of the high spending capability of carriers to set up a 5G infrastructure. Similarly, the adoption of Wi-Fi communication technology by enterprises and security concerns in the 5G core network are the major factors hindering the market growth. Low latency connectivity with uRLLC and increasing demand for private networks from various enterprises and government organizations for mission-critical applications. Despite the market being in the infancy stage, a lot of research is being conducted in the market.
In 2020, the 5G enterprise market was dominated by Huawei (China), Ericsson (Sweden), Nokia Networks (Finland), Samsung (South Korea), and ZTE (China). The major strategies adopted by the top 5 players in the 5G enterprise market included product launches/developments, partnerships and expansions which helped them to innovate on their product offerings, cope up with the COVID-19 outbreak and broaden their customer base.
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Top 2 players in the 5G enterprise market are:
Huawei Technologies is a leading global provider of networking products, servers, storage solutions, and telecommunications and information and communications technology (ICT) solutions. The company also provides different services such as network integration, business consulting, learning, assurance, managed and global delivery services to stakeholders, including telecom operators, data center security service providers, network service providers worldwide.
Ericsson is a global provider of infrastructure, software, and services for the telecommunications industry. It operates through four business segments: Networks, Digital Services, Managed Services, and Emerging Businesses and Other. The Networks segment provides hardware, software, and services that enable customers to build and evolve their mobile networks. The company has signed 78 contracts and deployed 24 live 5G networks worldwide.
5G Enterprise Market by Network Type (Hybrid Network, Private Network), Operator Model, Infrastructure, Spectrum, Frequency Band, Organization Size, Application, Vertical, Region - Global Forecast to 2027
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