Given the strong demand for connectivity, the potential revenue for 5G enterprises in the region is expected to grow exponentially, reaching $13.9 billion by 2024 from $2 billion in 2019, at a staggering 46.4% compound annual growth rate (CAGR). “5G enterprises in Asia-Pacific are undergoing digital transformation at a more rapid pace to either optimize or enable business processes to keep up with the changing consumer demand,” said Sofea Zukarnain, Information & Communication Technologies Research Analyst at Frost & Sullivan.

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