5G Enterprise Market expected to be worth $31.7 billion by 2026

(IT-NEWSWIRE.COM, April 02, 2019 ) According to the latest market research report "5G Enterprise Market by Access Equipment (Radio Node, Service Node, DAS), Core Network Technology (SDN, NFV), Services (Platform, Software), Organization Size (SME, Large Enterprises), End User (BFSI, Retail), and Geography - Global Forecast to 2026", is expected to be valued at USD 2.3 billion in 2020 and is projected to reach USD 31.7 billion by 2026, at a CAGR of 54.4%. The market has huge potential across various end users such as BFSI, retail and e-commerce, IT and telecommunications, media and entertainment, and healthcare and life sciences. The major factors driving the 5G enterprise market are 5G enterprise connectivity platform is expected to enable several industries with a single network, unified 5G enterprise network is likely to boost cross-industry connection and industrial application development, and rising importance of software implementation is expected in the communication network.

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5G enterprise market for service node to grow at highest CAGR during forecast period

The 5G enterprise market for service nodes (Enterprise RAN/E-RAN) is expected to grow at the highest CAGR from 2020 to 2026. Service node, also known as E-RAN equipment, is a part of a mobile telecommunication system. It helps connect different cellular devices to a network through radio network connections. 5G-based service node is stated to be the upcoming technology in the field of RAN network equipment that is expected to be used widely in 5G networks for enterprises.

NFV to hold larger share of 5G enterprise market by 2026

NFV core network technology is expected to hold a larger size of the 5G enterprise market by 2026. Considering the current scenario in telecom networks, there is always an increase in the variety of proprietary hardware appliances for further expansion. To initiate new network services, network operators require new hardware installations and infrastructure support, such as power supply, connecting peripherals, and space to accommodate the new hardware. NFV is the new advanced network technology in which virtualized network services are carried out in lieu of proprietary, dedicated, or application-specific hardware such as switches, servers, and routers.

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North America to lead 5G enterprise market in terms of value

North America is expected to hold the largest share of the 5G enterprise market in 2020. North America is among the leading regions in the 5G enterprise market owing to the ongoing R&D activities for new technology and network design/deployment, and the presence of key market players. The adoption of core network technologies, such as SDN and NFV, in North America is driven by the growth of innovative technologies, such as cloud computing, mobility services, virtualization of network, and Bring Your Own Device (BYOD). Moreover, the US and Canada are witnessing the development of favorable standards and networking regulations for boosting the SDN and NFV market.

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The companies profiled in this report are Huawei (China), Ericsson (Sweden), Nokia Networks (Finland), ZTE (China), Samsung (South Korea), NEC (Japan), Cisco (US), Fujitsu (Japan), Juniper Networks (US), Hewlett Packard Enterprise (US), AT&T (US), Verizon Communications (US), CommScope (US), and SK Telecom (South Korea), among others.

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5G Enterprise Market expected to be worth $31.7 billion by 2026