For use cases that require low latency and higher throughput, private 5G networks will provide next-generation connectivity. 5G non-standalone and standalone architecture using a license and unlicensed spectrums are used by the private 5G networks. These are specifically designed for highly mission-critical business applications. A network slicing technique is used by the 5G networks, as these helps enterprises to effectively manage resources.
Market and markets analysis says that, the global 5G Enterprise market was valued at USD 1.2 billion in 2020 and is expected to reach USD 10.9 billion by 2027. During the forecast period, it is projected to grow at a CAGR of 31.8%. The major factors driving the global 5G enterprise market are the emergence of Industry 4.0 paving the way for mMTC, development of smart infrastructure, and the delivery of differentiated 5G services using network slicing technique. Associate Vice President of Semiconductor and Electronics at Markets and Markets, Sachin Garg says that, to ensure continuity of services even during unpredictable and undesirable events, they have built Private networks and essential industrial applications. And in addition, they ensure that critical civil functions and business processes have access to high-quality communication, even when parts of the system fail due to external factors.
Network isolation, data protection, and device/user authentication are utilized by the private networks in order to protect critical assets. Enterprises can also control retention and data sovereignty to ensure the safety of sensitive information stored on-premises. Critical requirements of many companies are addressed by Automation and digitalization. It also allows them to increase output, reduce operational costs, and gain more profit. Businesses need a strong network that can support their digital transformation journey. Technological advancements and the evolving ecosystem have further paved the way for the emergence of new business applications across different sectors.
Some major kind of crucial technologies adopted in industrial and government sectors are Industry 4.0, Intelligent Process Automation (IPA), robotics, process automation, automated guided vehicles (AGVs), autonomous vehicles, remote site monitoring, smart cities, and drone surveillance. Network connectivity with high bandwidth, low latency, and higher security are essential for these technologies. All these requirements are fulfilled by the network slicing and it also supports next-generation applications. And the it also enables service providers to deliver dedicated, secure, reliable, and scalable network services independently.
One of the major factors driving the demand for 5G services is the Ultra-low latency. 5G’s ultra-low latency is almost 50 times lower than the current 4G service. 4G’s latency rate is 50 milliseconds, and 5G is expected to provide latency of 1 millisecond. Industrial applications, autonomous vehicles, remote surgery, and connected cities are all in need of faster and reliable networks. And so 5G services are expected to meet their demands. 5G will be the core technology for digital transformation. The higher bandwidth, lower latency, and massive machine-type communications (mMTC) offered by 5G will enable several innovative industrial applications, such as robotics, big data analytics, IIoT, and AR/VR in engineering and design, along with new ways to provide remote support and training.
Adoption of AR and VR is one of the most important application of 5G in manufacturing. Instead of lecture-based training, the mixed reality offers more efficient learning with virtual experience. Another major application of 5G is the Video analytics. This can be used in various applications, including access control, traffic management, fire detection, public safety. 5G technology can be leveraged in AI-powered solutions for face or object recognition, asset management, and image processing applications due to its high bandwidth, high speed, low latency, and secure network connectivity.
