The market has huge potential across various end users such as BFSI, retail and e-commerce, IT and telecommunications, media and entertainment, and healthcare and life sciences. The major factors driving the 5G enterprise market are 5G enterprise connectivity platform is expected to enable several industries with a single network, unified 5G enterprise network is likely to boost cross-industry connection and industrial application development, and rising importance of software implementation is expected in the communication network.
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Radio node to hold largest share of the 5G Enterprise market during forecast period
The 5G enterprise market is segmented by access equipment, core network technology, services, organization size, end user, and geography. The large market share of radio node is attributed to the anticipated large-scale deployment of radio nodes by enterprises and mobile operators.
5G Enterprise Market for NFV to grow at highest CAGR during forecast period
NFV promises to ease the load by granting service providers the flexibility to move network functions from dedicated appliances to generic servers. Using standard IT virtualization technology, NFV focuses on combining many network equipment onto standard, high-volume servers, switches, and storage, thereby making networks more agile and efficient.
Large enterprises to register higher growth during forecast period
Large enterprises are anticipated to deploy 5G enterprise network to monitor and regulate their complex and huge network infrastructure across diverse business divisions/units and multifaceted departments.
North America to lead 5G enterprise market in terms of value
North America is expected to hold the largest share of the 5G enterprise market in 2020. North America is among the leading regions in the 5G enterprise market owing to the ongoing R&D activities for new technology and network design/deployment, and the presence of key market players. The adoption of core network technologies, such as SDN and NFV, in North America is driven by the growth of innovative technologies, such as cloud computing, mobility services, virtualization of network, and Bring Your Own Device (BYOD). Moreover, the US and Canada are witnessing the development of favorable standards and networking regulations for boosting the SDN and NFV market.
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The companies profiled in this report are Huawei (China), Ericsson (Sweden), Nokia Networks (Finland), ZTE (China), Samsung (South Korea), NEC (Japan), Cisco (US), Fujitsu (Japan), Juniper Networks (US), Hewlett Packard Enterprise (US), AT&T (US), Verizon Communications (US), CommScope (US), and SK Telecom (South Korea), among others.