5th Generation (5G) Enterprise Global Market Report 2024

The 5th generation (5G) enterprise market size has grown exponentially in recent years. It will grow from $3.46 billion in 2023 to $4.62 billion in 2024 at a compound annual growth rate (CAGR) of 33.6%. The expansion observed in the historical period can be attributed to several key factors, including the increasing adoption of Internet of Things (IoT) technologies, a rising demand for enhanced connectivity solutions, the emergence of industry-specific use cases, support from regulatory bodies and the development of standards, as well as continuous technological advancements.

The 5th generation (5G) enterprise market size is expected to see exponential growth in the next few years. It will grow to $14.78 billion in 2028 at a compound annual growth rate (CAGR) of 33.7%. The projected growth in the upcoming period is expected to stem from several key factors, including the expansion of Industry 4 initiatives, the surge in edge computing technologies, a heightened focus on cybersecurity measures, the emergence of industry-specific solutions, economic recovery efforts, and ongoing digital transformation initiatives. Key trends anticipated in the forecast period encompass the rapid adoption of private 5G networks, the integration of artificial intelligence (AI) and Internet of Things (IoT) technologies with 5G infrastructure, the emergence of network slicing services to optimize network performance, a heightened emphasis on environmentally friendly and sustainable 5G practices, and an expansion of cross-industry collaborations to drive innovation and efficiency.

The increasing adoption of IoT devices is set to drive the growth of the 5G enterprise market in the foreseeable future. IoT devices, which are physical objects embedded with sensors, software, and connectivity capabilities, enable data collection, exchange, and automated actions without human intervention. The rise in demand for IoT devices is attributed to factors like automation, efficiency, improved connectivity, and consumer demand. 5G technology offers ultra-fast speeds and low latency, facilitating seamless connectivity for IoT devices and supporting real-time data transmission across diverse applications such as industrial automation and smart cities. For example, according to a report from Ericsson in September 2023, global IoT connections reached 15.7 billion connections in 2023 and are projected to increase by 16% to 38.9 billion connections by 2029. Hence, the growing adoption of IoT devices is a driving force behind the expansion of the 5G enterprise market.

Major players in the 5G enterprise market are focusing on deploying private networks, including 5G wireless networks, to meet specific communication needs. 5G wireless networks, the fifth generation of cellular network technology, offer significantly faster data speeds, lower latency, increased network capacity, and improved reliability compared to previous generations. For instance, in February 2024, Wipro Ltd. and Nokia Corporation launched a joint private 5G wireless solution for enterprises, aiming to accelerate digital transformation and innovation. This partnership empowers businesses with enhanced connectivity and AI-driven capabilities, enabling them to scale their digital initiatives, enhance security, and optimize operations efficiently.

In June 2023, Hewlett-Packard Enterprise (HPE) acquired Athonet to expand its portfolio of edge-to-cloud solutions, particularly in the realm of 5G technology. This strategic acquisition strengthens HPE's position as a leader in delivering next-generation infrastructure and services to enterprises leveraging edge computing and 5G technologies. Athonet, an Italy-based telecommunications company, specializes in providing private 5G technology for enterprises, further enhancing HPE's capabilities in offering transformative solutions to businesses.

Major companies operating in the 5th generation (5G) enterprise market are Samsung Electronics Co. Ltd., Microsoft Corporation, Verizon Communications Inc., AT&T Inc., Huawei Technologies Co. Ltd., Intel Corporation, Vodafone Group Plc, Cisco Systems Inc., Qualcomm Incorporated, Oracle Corporation, NTT Docomo Inc., Hewlett Packard Enterprise Company, Telefonaktiebolaget LM Ericsson, Nokia Corporation, NEC Corporation, ZTE Corporation, Telstra Corporation Limited, SK Telecom Co. Ltd., CommScope Holding Company Inc., Juniper Networks Inc., Ciena Corporation, Fujitsu Limited, Mavenir plc.

North America was the largest region in the 5th generation (5G) enterprise market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the 5th generation (5G) enterprise market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the 5th generation (5G) enterprise market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The concept of 5th generation (5G) enterprise entails leveraging 5G technology primarily for business and industrial purposes, aiming to enhance operational efficiency and unlock opportunities for new ventures across various industries. 5G networks offer notably faster data speeds and reduced latency compared to previous generations, facilitating swift and efficient data access and transfer for businesses.

Key network types within the realm of 5th generation (5G) enterprises include hybrid networks, private networks, enterprise networks, and communication service provider (CSP) networks. Hybrid networks involve the integration of different networking technologies, such as wired, wireless, and satellite, to create adaptable infrastructures tailored to diverse connectivity requirements. These networks incorporate frequency bands like Sub-6GHz and mmWave, encompassing various infrastructure components such as access equipment, small cells, E-RAN equipment (service node), core networks, software-defined networking (SDN), and network function virtualization (NFV). They cater to a spectrum of applications including mobile robots (AGV), video analytics, drones, augmented reality (AR), virtual reality (VR), and communication across verticals such as banking, financial services, and insurance (BFSI), manufacturing, energy and utilities, retail, healthcare, government and public safety, transportation and logistics, aerospace and defense, media and entertainment, and office buildings.

The 5th generation (5G) enterprise market research report is one of a series of new reports that provides 5th generation (5G) enterprise market statistics, including 5th generation (5G) enterprise industry global market size, regional shares, competitors with a 5th generation (5G) enterprise market share, detailed 5th generation (5G) enterprise market segments, market trends and opportunities, and any further data you may need to thrive in the 5th generation (5G) enterprise industry. This 5th generation (5G) enterprise market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The 5th generation (5G) enterprise market consist of revenues earned by entities by providing services such as network infrastructure services and IoT connectivity services. The market value includes the value of related goods sold by the service provider or included within the service offering. The 5th generation (5G) enterprise market also includes sales of base stations, smartphones and tablets, antennas, and test and measurement equipment. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


This product will be delivered within 3-5 business days.