5G tech delivers internet at higher speeds, lower latency, and more reliability, helping companies create and connect numerous vast virtual networks with one physical system.
Considering how essential the internet is for enterprises, 5G can allow large organizations to process more data across the cloud faster and enable technical innovation and new use cases.
See below to learn all about the global enterprise 5G market:
See more: The Private 5G Market
Enterprise 5G market
The 5G technology market was estimated at $9.6 billion in 2022. With a projected 71.9% compound annual growth rate (CAGR) from 2022-2028, it’s expected to be worth $248.4 billion by the end of the period.
Several regions are driving growth in the 5G tech market:
- The Asia-Pacific market is the largest with a 56% market share
- Europe’s market was valued at $359.3 million in 2019 and is projected to maintain an 85.1% CAGR to reach $42.7 billion by 2027
- Sweden exhibits the largest market growth in 5G with a CAGR of 101.2% during 2020-2027
- North America is the second-largest regional market
By industry, the IT and telecommunications industries in 2021 are the largest drivers of the 5G market, with over 20% market share. Other industries driving 5G tech include:
- Health care
Enterprise 5G features
5G internet supports the transmission of large data streams in real-time, making it ideal for device-to-device communication
In an enterprise setting, 5G architecture depends on how it’s deployed in tandem with other wireless and network technologies.
Private 5G networks operate the same as a local area network (LAN), with its own dedicated infrastructure and bandwidth.
This allows enterprises to bring custom-made 5G to a large area, indoors or outdoors, which can be used either by guests or only by the company’s employees and authorized personnel.
Since Internet of Things (IoT) networks and edge computing tend to have specific demands for connection speeds and bandwidth, 5G’s low-power requirements and low latency mean it can be integrated directly into edge networks and devices.
Combining 5G with software-defined wide-area network (SD-WAN) allows for a wider range of connections. A single system can be used to connect 5G to multiple office networks and remote employees in their homes.
It can also support 3G and 4G adaptation, allowing a continuous switch between the three, depending on the network’s availability and user demands.
Benefits of enterprise 5G
As the latest evolution of network, Wi-Fi, and internet technology, enterprises can make the most of 5G to build and improve on their current system and network needs.
Some 5G benefits for enterprises include:
- Higher speeds and lower latency
- Power efficient
- Highly secure traffic
- Improved reliability
- Versatile network capabilities
- Network slicing and scaling
“5G will ultimately provide better connectivity and much clearer video communications, but the real difference comes from 5G’s network splicing capabilities, which can be a game-changer for today’s hybrid and remote workforce,” says Craig Walker, the founder and CEO of Dialpad in a post at Forbes.
“Imagine being able to set your video-calling app as a priority, so that no matter what else is putting stress on your network, you’ll never lose connection during your big presentation.”
Enterprise 5G use cases
Organizations of all industries and sizes are using 5G networks to better run their operations and drive business growth:
Optus Stadium is set in west Australia and hosts sporting and musical events. With a venue seating 60,000 visitors, it was voted Australia’s best stadium in 2021.
Looking to provide its visitors with the best experience, Optus wanted to launch its own 5G service, allowing access to fast internet at speeds of 1 Gbps.
Working with Nokia, Optus Stadium was able to achieve this goal and grow from 4G to 5G internet. It now allows greater connectivity and edge computing for high-quality video access.
“5G will be transformative in the home, at work, and when we are at play, like cheering on your team or singing along to your favorite artist,” says Kelly Bayer Rosmarin, CEO, Optus Network Australia.
“We know people have been eager to get back into Optus Stadium with a full crowd and with Optus 5G now enabled throughout the stadium, fans will be able to connect at the speed of their excitement.”
Royal Dutch Shell
Royal Dutch Shell is one of the world’s largest companies trading in petroleum, crude oil and natural gas exploration, production, and marketing. It’s available in more than 90 countries, delivering energy needs to power plants.
Looking to improve mobility and connectivity for its thousands of employees and internal network users, Shell sought the help of T-Mobile to implement 5G for its internal and IoT networks.
“Using IoT and the 5G demos T-Mobile shared in its tech expertise as an example, they’ve really opened up to us, sharing their point of view and vision for how we can continue to drive value and where opportunities will lie in the future,” says Alan Prewitt, IT project manager, Royal Dutch Shell.
Enterprise 5G providers
Some of the leading providers of 5G services for enterprises include:
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