Press release
Comprehensive Private 5G Network Market Insights: Forecasting Size, Growth, and Competitive Trends from 2025 to 2034
Private 5G Network Market
The rising usage of the Internet of Things (IoT) is anticipated to stimulate the expansion of the private 5G network market in the future. IoT represents a network of tangible objects equipped with sensors, software, and other technologies allowing them to communicate and share data with other devices and systems via the internet. The escalating demand for IoT is attributed to benefits such as improved efficiency and productivity, cost reduction, valuable data insights, enhanced automation and control, pioneering development, and gaining competitive advantage. Private 5G networks utilize IoT capabilities to facilitate various applications, including providing a secure, dependability, low-delay, high-speed network that supports superior technologies, thus boosting serviceability and enabling real-time deterministic use cases. For example, as stated by Akamai Technologies Inc., a US internet firm in August 2022, IoT connections are predicted to rise from 15.1 billion in 2021 to 23.3 billion in 2025. Hence, the increasing demand for IoT is accelerating the growth of the private 5G network market.
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What growth opportunities are expected to drive the private 5g network market's CAGR through 2034?
In recent years, the market size of the private 5G network has seen a significant surge. With a compound annual growth rate (CAGR) of 49.1%, it's projected to rise from $3.42 billion in 2024 to an estimated $5.1 billion in 2025. This robust growth during the historical period is largely due to various factors. These include advancements in technology, rising demand for data security, specific industry needs, the widespread adoption of the internet of things (IoT), and the prerequisite for low-latency communication.
The market size of private 5G networks is projected to experience a significant surge in the coming years, anticipating a growth to $25.04 billion in 2029 with a compound annual growth rate (CAGR) of 48.9%. Several key factors attributing to this potential growth during the forecast period include the advent of industry 4.0, the expansion of smart city initiatives, increased application of edge computing, the rise of remote work and telemedicine, and the prevalence of augmented reality (AR) and virtual reality (VR) technologies. Notable trends expected during this forecast period involve the integration of artificial intelligence (AI), the development of hybrid network models, an emphasis on network slicing for customization, escalating use of private 5G for industrial automation, and the expansion of private 5G networks into rural areas.
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What are the emerging trends shaping the future of the private 5g network market?
Leading corporations in the private 5G network sector are concentrating on advancing 5G versions such as 5.5G, tailored to fulfill the specific needs of their applications. Known as 5G advanced, 5.5G represents tomorrow's generation of 5G network technologies, purporting to offer speeds that are tenfold of the prevailing 5G networks. For example, in March 2024, the China-based Huawei Technologies Co. Ltd., known for its ICT infrastructure and smart devices, launched eight unique 5.5G innovation practices to assist operators in building such networks across all frequency bands. Spanning crucial technology areas like antenna evolutions, mmWave bandwidth, network intelligence in the RAN, and energy efficiency, this network is capable of delivering 10 Gbps downlink speeds, marking a substantial upgrade from existing 5G networks.
Which growth-oriented segments of the private 5g network market are leading the industry's development?
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
Subsegments:
1) By Hardware: Small Cells, Radio Access Network (RAN) Equipment, Core Network Equipment, Antennas, User Equipment
2) By Software: Network Management Software, Orchestration Software, Virtualization Software, Security Software
3) By Services: Consulting Services, Integration And Deployment Services, Managed Services, Support And Maintenance Services
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What regions are leading the charge in the private 5g network market?
North America was the largest region in the private 5G network market in 2024. The regions covered in the private 5G network market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What companies are at the forefront of innovation in the private 5g network market?
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.
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What Is Covered In The Private 5G Network Global Market Report?
•Market Size Forecast: Examine the private 5g network market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the private 5g network market for a structured understanding.
•Key Players Overview: Analyze major players in the private 5g network market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the private 5g network market.
•Segment Contributions: Evaluate how different segments drive overall growth in the private 5g network market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the private 5g network market.
•Industry Challenges: Identify potential risks and obstacles affecting the private 5g network market.
•Competitive Landscape: Review strategic developments in the private 5g network market, including expansions, agreements, and new product launches.
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