The latest analysis by Frost & Sullivan, Asia Pacific Mega Trends To Boost The 5G Enterprise Market, 2019-2024, finds that mega trends are occurring in the government and public sectors, healthcare, manufacturing and telecommunications. End users in vertical industries face new challenges in the region. These changes cause organizations to change and enable new uses which are essential to support and optimize company business processes to improve business efficiency. Beyond the impact of the megatrend, the COVID-19 pandemic requires critical and vital broadband, remote work solutions and 5G to support remote work. Given the strong demand for connectivity, potential revenue for 5G companies in the region is expected to grow exponentially, reaching $ 13.9 billion in 2024 from $ 2 billion in 2019, a staggering 46.4% annual growth rate according to ( CAGR).
“5G companies in the Asia-Pacific region are accelerating digital transformation to optimize business processes or enable them to keep up with changing consumer demands,” said Sofea Zukarnain, information and communications technology analyst. at Frost & Sullivan, “However, this digital transformation initiative will put pressure on existing networks as new solutions require more bandwidth and availability to provide the reliability they need, meaning organizations will have to transform their network infrastructure. This will increase demand for enterprise 5G solutions and new activation technologies such as network computing and edge computing.
Zukarnain adds, “By shortening the network, companies can become end-to-end owners of a portion of the 5G network that can be used for specific use cases. In addition, there are many benefits of using the 5G part including that. How to Do It Gives organizations control, management and greater network flexibility so that they can optimize network usage for businesses. “
5G enterprise solutions have the potential to transform services, applications and business opportunities by offering enormous growth opportunities for market participants, including:
- Implement automation to enable an open application programming interface (API) that enables flexibility, ease of management and cost savings.
- Use limited computing to address the need to address the increasing use of enabled IoT as more and more devices are connected on the network.
- Offers a solution to cut the network to meet the demand for more bandwidth via SLA.
- Use artificial intelligence to increase cognitive engagement and better connect with customers and anticipate their needs and potential problems.
The Asia-Pacific Megatrend for 5G Enterprise Market Revitalization (2019-2024) is the latest addition to Frost & Sullivan’s information and communications technology research and analysis provided by the Frost & Sullivan Management Board to help companies identify a steady stream of growth opportunities for future success the unpredictable. Reuters