Global 5G Enterprise Market (2022 to 2027) - Industry Trends, Share, Size, Growth, Opportunity and Forecasts
DUBLIN, July 1, 2022 /PRNewswire/ -- The "5G Enterprise Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027" report has been added to ResearchAndMarkets.com's offering.
The global 5G enterprise market reached a value of US$ 2.25 Billion in 2021. Looking forward, the publisher expects the market to reach a value of US$ 14.57 Billion by 2027, exhibiting a CAGR of 36.53% during 2021-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.
At present, it finds extensive applications in enterprises of different industry verticals, such as information technology (IT), telecommunications, manufacturing, and banking, financial services and insurance (BFSI). This can be accredited to its assistance in the introduction of new technologies, such as edge computing and network slicing, for developing immersive solutions that provide the tools for enterprises to transform digitally.
Additionally, faster connections and reduced latency aid in introducing new features in brick-and-mortar establishments, including digital price tags and smart digital displays. Besides this, 5G enterprise solutions are increasingly employed in the healthcare sector as it allows remote patient monitoring and video-enabled prescription management and offers connected ambulance and HD virtual consultations. This, coupled with the rising focus of enterprises on implementing new technologies to improve service delivery, reduce costs, and gain competitive advantage, is anticipated to fuel the growth of the market.
The competitive landscape of the industry has also been examined along with the profiles of the key players being AT&T Inc., Cisco Systems Inc., Fujitsu Limited, Hewlett Packard Enterprise Company, Huawei Technologies Co. Ltd., uniper Networks Inc., Nokia Corporation, Oracle Corporation, Samsung Electronics Co. Ltd., Telefonaktiebolaget LM Ericsson, Verizon Communications Inc. and ZTE Corporation.
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