5G Enterprise Market Outlook
According to the report by Expert Market Research (EMR), the global 5G enterprise market size reached a value of USD 4.74 billion in 2023. Aided by the proliferation of 5G-enabled applications, IoT adoption, and Industry 4.0 initiatives, the market is projected to further grow at a CAGR of 33.4% between 2024 and 2032 to reach a value of USD 63.37 billion by 2032.
5G technology represents a paradigm shift in wireless communication, offering unprecedented speed, bandwidth, and reliability compared to previous generations of mobile networks. With ultra-low latency, high data throughput, and massive connectivity capabilities, 5G networks enable real-time communication, immersive experiences, and mission-critical applications across diverse industry verticals, from manufacturing and healthcare to transportation and entertainment.
Several factors propel the 5G enterprise market growth. Firstly, the growing demand for high-speed, low-latency connectivity drives enterprises to adopt 5G solutions to support bandwidth-intensive applications such as high-definition video streaming, augmented reality (AR), and virtual reality (VR) experiences. Industries such as media and entertainment, gaming, and advertising leverage 5G networks to deliver immersive content and personalised experiences to consumers, driving engagement and monetisation opportunities.
As per the 5G enterprise market analysis, the proliferation of Internet of Things (IoT) devices, sensors, and connected machines fuels the demand for 5G-enabled IoT solutions that enable real-time data collection, analysis, and decision-making in industrial automation, smart cities, and smart infrastructure projects. 5G’s capabilities for massive machine-type communication (mMTC) and ultra-reliable low-latency communication (URLLC) empower enterprises to deploy IoT applications at scale, optimize resource utilisation, and drive operational efficiencies across the value chain.
Furthermore, the advent of Industry 4.0 initiatives, digital transformation projects, and smart manufacturing technologies accelerates the adoption of 5G connectivity in industrial environments, further propelling the 5G enterprise market expansion. 5G-enabled solutions such as private cellular networks, edge computing, and network slicing enable enterprises to deploy agile, resilient, and secure communication infrastructures that support real-time control, predictive maintenance, and remote monitoring capabilities, enhancing productivity, flexibility, and competitiveness in the digital age.
The adoption of 5G technology spans a wide range of industry verticals, each leveraging its unique capabilities to drive innovation, efficiency, and value creation. In the automotive sector, for instance, 5G connectivity enables vehicle-to-everything (V2X) communication, autonomous driving, and connected car services that enhance safety, traffic management, and passenger experience. As per the 5G enterprise market outlook, automotive manufacturers, mobility providers, and technology companies collaborate to develop 5G-enabled solutions that pave the way for the future of mobility, including smart transportation systems, intelligent vehicles, and mobility-as-a-service (MaaS) platforms.
Similarly, in the healthcare sector, 5G networks support telemedicine, remote patient monitoring, and augmented reality-assisted surgery, revolutionising healthcare delivery, and patient care. Healthcare providers, medical device manufacturers, and telehealth platforms in the 5G enterprise market leverage 5G connectivity to enable real-time consultations, diagnostic imaging, and surgical interventions, improving access to healthcare services, reducing treatment costs, and enhancing clinical outcomes for patients worldwide.
Get a Free Sample Report with Table of Contents
Moreover, in the manufacturing sector, 5G technology facilitates smart factory initiatives, digital twins, and industrial automation solutions that optimise production processes, increase operational efficiency, and enable agile supply chain management. Manufacturers leverage 5G-enabled robotics, IoT sensors, and AI-driven analytics to achieve real-time visibility, predictive maintenance, and adaptive manufacturing capabilities, driving innovation, resilience, and competitiveness in the Industry 4.0 era, and boosting the 5G enterprise market share.
The adoption of 5G technology exhibits diverse regional dynamics, influenced by factors such as regulatory environment, technological infrastructure, and market maturity. While regions such as North America, Europe, and Asia-Pacific lead in terms of 5G deployment and commercialisation, emerging economies in Latin America, Africa, and the Middle East present significant growth opportunities driven by increasing smartphone penetration, digital inclusion initiatives, and economic development.
5G Enterprise Market Segmentation
The market can be divided based on communication infrastructure type, enterprise type, and region.
Market Breakup by Communication Infrastructure Type
- 5G Radio Access Networks
- 5G Core Networks
- Transport Networks
Market Breakup by Enterprise Type
- IT and Telecommunication
- BFSI
- Retail and E-commerce
- Manufacturing
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global 5G enterprise market. Some of the major players explored in the report by Expert Market Research are as follows:
- Cisco Systems, Inc.
- Telefonaktiebolaget LM Ericsson
- Huawei Technologies Co., Ltd.
- Nokia Corporation
- NEC Corporation
- Samsung Electronics
- Verizon Communications
- Juniper Networks, Inc.
- Others
