Jersey City, New Jersey, Apr 22, 2021 (GLOBE NEWSWIRE via COMTEX) -- Jersey City, New Jersey, April 22, 2021 (GLOBE NEWSWIRE) -- Verified Market Research recently published a report, " 5G Enterprise Market " By Frequency Band (Sub-6Ghz & mmWave), By Spectrum (Licensed & Unlicensed), By Application (Mobile robots (AGV), AR/VR, Communication, Video Analytics & Others), By Infrastructure (E-Ran Equipment, Small Cells, Access Equipment & Others), By Vertical (BFSI, Manufacturing, Retail & Healthcare), and by Geography. According to Verified Market Research, the Global 5G Enterprise Market was valued at USD 1.57 Billion in 2020 and is projected to reach USD 12.91 Billion by 2028, growing at a CAGR of 30.18% from 2021 to 2028.
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202 - Pages
126 - Tables
37 - Figures
Global 5G Enterprise Market Overview
Industry 4.0 is a prominent growth driver for the Global Enterprise 5G market, which makes it possible for organizations to process massive amounts of data, which further facilitates operational efficiency using advanced technologies like robotics, artificial intelligence, connected sensors, and cloud computing.
Another significant growth driver for the Global 5G Enterprise Market is the functioning of smart cities using the Internet of Things (IoT) technology. A smart city deploys an Information and Communication Technology (ICT) infrastructure to facilitate an architecture of interconnected objects and machines to transmit data wirelessly, through the cloud in real-time. This real-time reception of data improves the day-to-day operations such as streamlining trash collection and better management of traffic congestion. Therefore, the successful implementation of smart city projects heavily depends on several technologies which invariably need ultra-high-speed networks at their disposal to function--data communications, cloud, mobility, and sensors--that collectively form the IoT.
Furthermore, another driver for the growth of the Global Enterprise 5G market is the management of large infrastructures of devices through a network slice. It is a logically separated, self-contained, independent, and secured part of the network, which furnishes different services with the amount of speed, latency, and reliability they need. The different characteristics of a Network slice are low latency, high bandwidth, and ultra-reliability for a time-critical communication scenario of the usage of IoT (for example, automatically guided vehicles or AGV's), or high latency and low bandwidth for a large-scale IoT employing a large number of connected devices. Technologies such as Programmable and flexible 5G networks, advanced AI (Artificial Intelligence), and Service Level Agreement (SLA) driven orchestration can help to quickly deploy, and flexibly manage the required network functions in an automated manner throughout the life cycle.
The major players in the market are Huawei Technologies Co. Ltd. (China), Ericsson Inc. (Sweden), Nokia Networks (Finland), Samsung Group (South Korea), ZTE Corporation (China), Verizon Communications Inc.(U.S.), Cisco Systems, Inc. (U.S.), NEC Corporation (Japan), Hewlett Packard Enterprise (U.S.), Ciena Corporation (U.S.) among others.
Key Developments in 5G Enterprise Market
Aiming to bring 5G to 20 million people in Germany by the end of 2021, Ericsson and Vodafone have launched a commercial 5G network using Ericsson products and solutions.
On the 15th of April 2021, Nokia announced that it has successfully completed a mmWave technology trial in Mobily's live 5G commercial network in Saudi Arabia's capital city, Riyadh. The trial achieved the highest throughput at a site in Prince Mohamad bin Abdulaziz street (Tahlya street) in Riyadh.
On the 15th of April 2021 MTS, Russia's largest mobile operator, and Huawei have activated 5G networks at 14 iconic locations in Moscow.
In February 2021, China Mobile and Huawei deployed the world's first 4.9 GHz commercial LampSite network in Shanghai, China. This is the first time an aggregate bandwidth of 200 MHz on the 2.6 and 4.9 GHz bands and distributed Massive MIMO have been simultaneously implemented in digital indoor networks.
Verified Market Research has segmented the Global 5G Enterprise Market On the basis of Frequency Band, Spectrum, Application, Infrastructure and Vertical, and Geography.
5G Enterprise Market by Frequency Band
5G Enterprise Market by Spectrum
5G Enterprise Market by Application
5G Enterprise Market by Infrastructure
5G Enterprise Market by Vertical
5G Enterprise Market by Geography
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