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“We are looking at $1.2 to $1.3 billion revenue growth every year. The value propositions will get us there,” Sowmyanarayan Sampath, executive vice president and chief executive at Verizon Business told ETTelecom, adding that the company’s wireless and wireline businesses are flourishing in addition to imposing growth in captive 5G deployments.
The company’s overall revenue stands at $32 billion annually. In the last quarter, Verizon Business posted a 2% growth in its revenue.
“There is an exponential growth in private 5G deployments. We have sold more private 5G in the last 30 days than in the last year,” the top executive said.
The enterprise unit of Verizon said that once it gets access to necessary spectrum, it would want to work on captive or non-public 5G network in India following its expertise worldwide, and partnership with telecom gear makers such as Nokia.
Private or captive network is a dedicated network designed to serve organisational users without interfering with a public or consumer network.
Cybersecurity, according to him, is one of the largest growing verticals for Verizon Business in the Asia market, growing at more than 20% every year.
“We have taken a very different view, and want to democratise 5G and roll out Wi-Fi. We have very deep partnerships and integration with Google Cloud<\/a>, Amazon<\/a> as well as Microsoft<\/a> for customers,” Sampath said.
Early this month, Verizon Business partnered with an Indian system integrator (SI) Wipro Limited<\/a> that allows the former to offer network-as-a-service including hardware components, managed services, and security solutions to Wipro’s global customers.
The multi-year arrangement between the two companies includes the transition of enterprise customers from legacy cycles of deploying hardware, applications and services to a subscription-based consumption model, designed to drive network infrastructure on demand.
The New York-based telco’s enterprise wing runs enterprise, small-and-medium business, public sector, and wholesale divisions with wireless and wireline segments as core revenue contributors.
It also offers 5G fixed wireless access (FWA) LTE Home for consumers, and LTE Business Internet for small-and-medium organisations across multiple markets.
Hans Vestberg–headed telecom carrier’s enterprise arm employs close to 25,000 individuals worldwide.