Press release
Private 5G Network Market Size & Share are Expected to Expand with a Steady CAGR of 40.9% Till Period 2028
A private 5G network is a dedicated network that uses 3GPP technology such as cellular technology and mobile carrier technology to create a private network that delivers faster internet connectivity. 5G networks are virtualized, allowing network resources to be distributed on-demand in response to industrial, enterprise, and other customer requirements. 5G is most suitable for creating multiple dedicated networks for individual applications or individual enterprises over a single network. Private 5G networks focused on leveraging powerful wireless speeds to enable the organization to calculate production output and also provide the ability to control critical systems, providing an improved form of communication.
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The private 5G network market is set to witness a tremendous growth rate owing to the introduction of revolutionary 5G technology and the major impact of COVID-19. During the pandemic, a significant demand for higher speeds and capacity has observed by the market. As a result of the COVID-19 scenario, private organizations, manufacturers, regulators, and other potential users are integrating the private 5G networks.
Private 5G network is expected to deliver dedicated end-to-end security for organizations to ensure their critical data and infrastructure are shielded from all types of threats. Therefore, it is projected that private 5G networks will gain huge traction from government and enterprise data storage applications. The rapidly evolving next-generation network services are set to address the emerging demand for critical wireless communication across industry verticals. The introduction of a private 5G network aims to respond promptly and rapidly reflect changes in business needs.
Some of the promising players operating in the private 5G network market are Cisco Systems, Inc., AT&T Inc., Broadcom Inc., Huawei Technologies Co., T-Systems International GmbH, ZTE Corporation, Deutsche Telekom, Qualcomm Technologies, Inc., Nokia Corporation, SAMSUNG, Vodafone Limited, Ericsson, Telefonaktiebolaget LM, Altiostar, Verizon Communications, Ltd, and others.
Vodafone has launched a dedicated 5G network in the region, and its sister company in England has collaborated with numerous businesses. For instance, Ford has incorporated a private network to ease out operations at its electric battery workshop based in Essex to link it to a site in Cambridge, enabling the two to collaborate on battery welding.
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Polaris Market Research Market research has segmented the private 5G network market report on the basis of spectrum, component, frequency, vertical
Private 5G Network Spectrum Outlook (Revenue - USD Million, 2020 - 2028)
• Unlicensed/Shared
• Licensed
Private 5G Network Component Outlook (Revenue - USD Million, 2020 - 2028)
• Hardware
• Radio Access Network
• Core Network
• Backhaul & Transport Interconnecting
• Services
• Installation & Integration
• Data Services
• Support & Maintenance
Private 5G Network Frequency Outlook (Revenue - USD Million, 2020 - 2028)
• Sub-6 GHz
• mmWave
Private 5G Network Vertical Outlook (Revenue - USD Million, 2020 - 2028)
• Manufacturing
o Automotive
o Food & Beverages
o Electrical & Electronics
o Heavy Machinery
o Pharmaceuticals
o Clothing & Accessories
o Heavy Machinery
o Electrical & Electronics
o Others
• Aerospace & Defense
• Energy & Utilities
• Transportation & Logistics
• Government & Public Safety
• Healthcare
• Oil & Gas
• Mining
• Corporates/Enterprises
• Others
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Polaris Market Research is a worldwide market research and consulting organization. We give unmatched nature of offering to our customers present all around the globe across industry verticals. Polaris Market Research has expertise in giving deep-dive market insight along with market intelligence to our customers spread crosswise over various undertakings. We at Polaris are obliged to serve our different client base present over the enterprises of medicinal services, healthcare, innovation, next-gen technologies, semi-conductors, chemicals, automotive, and aerospace & defence, among different ventures present globally.
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