North America 5G Enterprise Market Size By Technology (Network Function Virtualization (NFV) and Software-Defined Network (SDN)), By Access Equipment (Radio Node, Service Node and DAS), By End User (BFSI, Media and Entertainment, Retail and Ecommerce, Transportation and Logistics), By Country And Forecast
North America 5G Enterprise Market Size By Technology (Network Function Virtualization (NFV) and Software-Defined Network (SDN)), By Access Equipment (Radio Node, Service Node and DAS), By End User (BFSI, Media and Entertainment, Retail and Ecommerce, Transportation and Logistics), By Country And Forecast
Published Date: August - 2024 | Publisher: MIR | No of Pages: 320 | Industry: latest updates trending Report | Format: Report available in PDF / Excel Format
North America 5G Enterprise Market Size By Technology (Network Function Virtualization (NFV) and Software-Defined Network (SDN)), By Access Equipment (Radio Node, Service Node and DAS), By End User (BFSI, Media and Entertainment, Retail and Ecommerce, Transportation and Logistics), By Country And Forecast
North America 5G Enterprise Market Size And Forecast
North America 5G Enterprise Market size was valued at USD 569.75 Billion in 2024 and is projected to reach USD 2030.82 Billion by 2031, growing at a CAGR of 28.39% from 2024 to 2031.
The 5G endeavor showcase is intensely affected by driving components such as bound together network to boost cross-industry association and mechanical application advancement, upsurge in demand for tall speed and moved forward arrange scope, and development of computer program usage in communication organize boosts the showcase development. The North America 5G Undertaking Advertise report gives a holistic assessment of the market.
What is 5G Enterprise?
5G is more than just hype; it's a real game-changer. It's not just about faster internet; it's rethinking how networks work from the ground up. Think virtualization, artificial intelligence (AI), and a whole lot of automation. Basically, it opens up possibilities we haven't even dreamed of for systems, apps, and even your everyday IT.
Cool tech like edge computing and network slicing are becoming mainstream, making immersive experiences a reality. This gives businesses – from your IT department to every line of business – the tools to go truly digital and unlock new revenue streams that you wouldn't traditionally associate with IT. 5G refers to a set of advanced wireless systems and has some interesting features. 5G uses a higher frequency range for data transfer, which means things move much faster than on 4G. But here's the thingthese new 5G networks need a lot more antennas – smaller ones, thankfully – and they need to be closer together than the old wireless networks we're used to.
However, 5G has gotten to be a basic hone for the ventures independent of its measure, working over any commerce domain/industry. The expanded necessity for productive organization for day-to-day working hones is one of the changing patterns within the showcase coupled with the development that has been watched within the trade telecom foundations within the past few a long time.
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North America 5G Enterprise Market Overview
The 5G enterprise market is really taking off, and it's being fueled by some pretty cool things. Think about a 5G enterprise network that brings everyone together, boosting collaboration across different industries and speeding up the development of new tech. We're also seeing the rise of a 5G enterprise network platform that lets multiple businesses use the same setup. Plus, everyone's clamoring for faster speeds and better network coverage, and the growing use of software in communication networks is only adding fuel to the fire. But it's not all sunshine and roses. The widespread adoption of Wi-Fi as the go-to network tech for businesses and the shortage of experts to manage these networks are throwing some shade on the market's growth right now. You can learn more about these trends if you're interested.
Get ready, because 5G is about to shake things up for businesses! We're talking about a whole new level of connection. For example, manufacturers are dreaming up ways to link people, machines, and well, everything! They're aiming to blend the real world with the digital one, using cool tech like robots, AI, and the IoT to really innovate. Healthcare? They're eyeing 5G for things like keeping a constant watch on patients and making diagnoses even better with real-time imaging. Imagine being able to improve treatment options even in places that are hard to reach! And local governments? They're wondering how the IoT can make cities run smoother, like using smart lighting and beefing up public safety with better surveillance.
North America 5G Enterprise MarketSegmentation Analysis
The North America 5G Enterprise Market is segmented on the basis of Technology, Access Equipment, End User, and Geography.
North America 5G Enterprise Market, By Technology
Network Function Virtualization (NFV)
Software-Defined Network (SDN)
Based on Technology, the market is bifurcated into Network Function Virtualization (NFV) and Software-Defined Network (SDN). Network Function Virtualization (NFV) accounted for the largest market share in 2020 and is projected to grow at the highest CAGR of 29.01% during the forecast period. NFV, is a way to reduce cost and accelerate service deployment for network operators by decoupling functions like a firewall or encryption from dedicated hardware and moving them to virtual servers. NFV enhances the 5G radio access networks’ functional, architectural, and commercial viability, including increased automation, operational agility, and reduced capital expenditure.
North America 5G Enterprise Market, By Access Equipment
Radio Node
Service Node
DAS
On the basis of Access Equipment, the North America 5G Enterprise Market has been segmented into Radio Node, Service Node, and DAS. Radio nodes are emerging as an efficient and cost-effective alternative for network expansion for mobile network operators with low operating and capital costs. These radio nodes are available in a compact form and are easy to install. The nodes consume less power that can be supplied using Power-over-Ethernet (POE) technology and can be deployed both indoors and outdoors.
North America 5G Enterprise Market, By End User
BFSI
Media and Entertainment
Retail and Ecommerce
Transportation and Logistics
Manufacturing
IT and Telecommunications
Others
When we look at who's actually using this stuff, we see the market is broken down into categories like BFSI (that's Banking, Financial Services, and Insurance), Media and Entertainment, Retail and Ecommerce, and then Transportation and Logistics. You've also got Manufacturing, IT and Telecommunications, and of course, an "Others" category to catch everything else. In 2020, BFSI led the pack, holding the biggest slice of the market. And get this – they're expected to grow the fastest, with a projected annual growth rate of 37.46%! These BFSI companies need super reliable network infrastructure to manage tons of calls and massive amounts of data. All the latest advancements in Information Technology have caused huge growth in banking and finance. Think about itATMs, internet banking, mobile banking – 5G is helping banks connect with customers in brand new ways. It's making the whole banking and finance experience more convenient, more appealing, and way easier to use.
North America 5G Enterprise Market, By Country
United States
Canada
Mexico
When we look at the 5G enterprise market in North America, it breaks down into the United States, Canada, and Mexico. What's interesting is that we're seeing a lot of enthusiasm for it, especially in places that already have strong economies. For example, in the US, you've got private companies working with cities to test out 5G networks and create spaces for innovation. Ericsson estimated that back in 2019, around USD 275 Billion was invested in 5G networks. And as US companies expand internationally, offering IoT solutions, that's only going to boost the market even more. Get thisaround 80% of businesses in the U.S. are already using IoT stuff, using cloud platforms and data analysis to run things better. With the IoE becoming more common, every industry really needs dependable networks to keep things running smoothly. Experts think this will only keep growing. In fact, the US is expected to add roughly 30,000 small cell nodes to handle LTE-A and mobile 5G applications.
Key Players
Looking for a deep dive into the North American 5G enterprise market? Our study offers just that, with a special focus on the region. We're talking about the big players like Samsung, Cisco Systems, Inc., Nokia Networks, Ericsson, Huawei Technologies, NEC Corporation, Fujitsu Limited, Juniper Networks, Hewlett Packard Enterprise. And it's not just a list! We've dedicated a whole section to these companies, giving you the inside scoop on their financials, product comparisons, and a complete SWOT analysis. Plus, we break down the competitive scene with key strategies, market share details, and a ranking of who's who.
Report Scope
REPORT ATTRIBUTES
DETAILS
Study Period
2021-2031
Base Year
2024
Forecast Period
2024-2031
Historical Period
2021-2023
Unit
Value (USD Billion)
Key Companies Profiled
Samsung, Cisco Systems, Inc., Nokia Networks, Ericsson, Huawei Technologies, NEC Corporation, Fujitsu Limited, Juniper Networks, Hewlett Packard Enterprise.
Segments Covered
By Technology, By Access Equipment, By End User, and By Geography
Customization scope
Free report customization (equivalent up to 4 analyst’s working days) with purchase. Addition or alteration to country, regional & segment scope
Research Methodology of Market Research
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Reasons to Purchase this Report
We'll take a good look at the market, both in terms of numbers and other, less obvious stuff, breaking it all down into understandable segments. You'll get the market value (in USD Billion) for each of those segments. We'll also point out the region and segment we think are going to grow the fastest and be the biggest overall. Our analysis will cover different regions, showing you how much of the product/service they use and what's influencing the market there. Speaking of competition, we'll rank the big players and tell you about their recent moves, like new product launches, partnerships, and acquisitions over the past five years. We'll also give you detailed profiles of those companies, including a look at their strengths, weaknesses, opportunities, and threats (SWOT). We'll share our view on the current and future market, taking into account recent changes and what's driving growth (or holding it back) in both new and established areas. Expect an in-depth analysis using Porter's Five Forces to understand the market from all angles. We'll even map out the Value Chain to give you a clearer picture. Finally, we'll lay out the market's dynamics and highlight the growth opportunities on the horizon. Oh, and you get 6 months of support from our analysts after you get the report.
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