According to International Data Corporation (IDC), telecom industry will take 3-5 years to fully develop 5G enterprise services. In addition, the firm further noted that an equal time would be required for leading enterprises to conduct proof-of-concepts as well as trials before they commit their business operations to depend on 5G services.
The early trend suggests that private networking has received the most attention in all markets due to the range of benefits it will offer to industries. According to IDC’s projections, in Asia/Pacific (excluding Japan), 5G services revenue will grow from $106 million in 2021 to $8 billion in 2026, at a compounded annual growth rate (CAGR) of 137 per cent.
Besides, IDC’s analysis shows that network slicing revenues will grow the strongest at 268.8 per cent compounded annually, led by multi-access edge computing (MEC) services (CAGR 125 per cent), enterprise fixed wireless access (FWA) (CAGR 73.5 per cent), and private wireless managed services (CAGR 64.6 per cent).