Private 5G Network Global Market Projected to Experience a Growth Rate of 48.9% CAGR, Reaching over $6.83 Billion By 2028 | Vodafone Ltd., Cisco Systems, Inc., NEC Corporation, BT Group plc, ZTE Corporation

"The new report published by The Business Research Company, titled ""Private 5G Network Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033"", delivers an in-depth analysis of the leading size and forecasts, investment opportunities, winning strategies, market drivers and trends, competitive landscape, and evolving market trends.

As per the report, the private 5G network market size has grown exponentially in recent years. It will grow from $2.30 billion in 2023 to $3.42 billion in 2024 at a compound annual growth rate (CAGR) of 48.7%. The private 5G network market size is expected to see exponential growth in the next few years. It will grow to $6.83 billion in 2028 at a compound annual growth rate (CAGR) of 48.9%.

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IoT Demand Fuels Private 5G Network Growth
The increasing adoption of the Internet of Things (IoT) is expected to propel the private 5G network market going forward. The Internet of Things (IoT) refers to the network of physical objects embedded with sensors, software, and other technologies that enable them to connect and exchange data with other devices and systems over the Internet. The increasing demand for IoT is due to efficiency and productivity, cost savings, data insights, automation and control, innovation, and competitive advantage. Private 5G networks leverage the capabilities of IoT to enable a wide range of applications, including providing a secure, reliable, low-latency, high-speed network that supports advanced technologies to improve serviceability and enable real-time deterministic use cases. For instance, in August 2022, according to Akamai Technologies Inc., a US-based internet company, IoT connections are expected to increase from 15.1 billion in 2021 to 23.3 billion IoT connections in 2025. Therefore, the increasing demand for IoT is driving the growth of the private 5G network market.

Huawei Unveils 5.5G Innovations for Private 5G Networks
Major companies operating in the private 5G network are focusing on developing advanced versions of 5G, such as 5.5G, to address the unique requirements of their use cases. 5.5G, also known as 5G advanced, is the next generation of 5G network technologies that promises to deliver speeds ten times faster than current 5G networks. For instance, in March 2024, Huawei Technologies Co. Ltd., a China-based provider of information and communications technology (ICT) infrastructure and smart devices, unveiled eight 5.5G innovation practices to help operators build such networks across all frequency bands. These practices cover key technology areas, including antenna evolutions, mmWave bandwidth, network intelligence in the RAN, and energy efficiency. This network can provide 10 Gbps downlink speeds, significantly improving over existing 5G networks.

The private 5g network market covered in this report is segmented -
1) By Component: Hardware, Software, Services
2) By Deployment Type: On-Premise, Cloud
3) By Frequency Band: Sub-6 GHz, mmWave
4) By Spectrum: Licensed, Unlicensed Or Shared
5) By Vertical: Banking, Financial Services And Insurance (BFSI), Manufacturing, Energy And Utilities, Retail And E-commerce, Healthcare, Infrastructure, Transportation And Logistics, Aerospace And Defense, Media And Entertainment, Other Verticals

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Major companies operating in the private 5g network market report are Samsung Electronics Co. Ltd, Affirmed Networks, Verizon Communications Inc, AT&T Inc, Dell Inc., Huawei Technologies Co., Ltd., Vodafone Ltd., Cisco Systems, Inc., Qualcomm Technologies, Inc., Oracle, Fujitsu, Hewlett Packard Enterprise Development LP, Telefonaktiebolaget LM Ericsson, Deutsche Telekom AG, Nokia Corporation, NEC Corporation, BT Group plc, ZTE Corporation, SK Telecom Co. Ltd, VMware Inc., Commscope, Juniper Networks, Inc, T-Systems International GmbH, Ciena Corporation, Mavenir, Extreme Networks, Altiostar, Airspan Networks, Comba Telecom Systems Holdings Ltd., Celona Inc.

Contents of the report:
1. Executive Summary
2. Private 5G Network Market Report Structure
3. Private 5G Network Market Trends And Strategies
4. Private 5G Network Market - Macro Economic Scenario
5. Private 5G Network Market Size And Growth
…..
27. Private 5G Network Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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