Press release
Private 5G Network Market Size Projected To Reach $25.04 Billion By 2034 With A Cagr Of 48.9%
Private 5G Network
What Is the Projected Growth of the Private 5G Network Market?
The market size of the private 5G network has seen an exponential rise in the past years. It is projected to increase from $3.42 billion in 2024 to $5.1 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 49.1%. The unprecedented growth witnessed during the historical period is due to technological progress, a surge in data security needs, specific industrial stipulations, the rise in the proliferation of the internet of things (IoT), and the demand for low latency communication.
The market size of private 5G networks is set to witness a significant escalation in the coming years, with predictions estimating it to reach $25.04 billion in 2029, growing at a compound annual growth rate (CAGR) of 48.9%. Factors propelling this surge during the forecasted period include the emergence of the fourth industrial revolution or Industry 4.0, growth in the realm of smart city projects, an increase in edge computing capabilities, rise in adoption of remote work and telemedicine, as well as utilization of augmented reality (AR) and virtual reality (VR) applications. Key trends forecasted for this period comprise the integration of artificial intelligence (AI), creation of hybrid network models, emphasis on network slicing for a customized approach, intensified use of private 5G in industrial automation, and expansion of these networks in rural locales.
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What Are the Different Private 5G Network Market Segments?
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 Are the Primary Drivers Shaping the Private 5G Network Market?
The anticipated growth of the private 5G network market is likely to be fuelled by the escalating acceptance of the Internet of Things (IoT). IoT relates to a system of tangible objects, comprising a network of sensors, software, and diverse technologies, aimed at facilitating connectivity and data exchange with other devices and systems via the internet. The uptick in demand for IoT can be accredited to factors such as heightened efficiency and productivity, monetary savings, detailed data insights, innovation, automation and control, and gaining a competitive edge. Utilizing IoT's potential, private 5G networks can power a broad spectrum of applications. They provide a secure, reliable, high-speed network with low latency, which propels advanced technologies to enhance serviceability and activate real-time deterministic use cases. For instance, Akamai Technologies Inc., a U.S.-based Internet company, projects that IoT connections will elevate from 15.1 billion in 2021 to 23.3 billion by 2025. As such, the burgeoning demand for IoT fosters the expansion of the private 5G market.
Which Companies Are Leading 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.
What Are the Major Trends Shaping the Private 5G Network Market?
In the private 5G network domain, key players are shifting their focus towards creating more advanced 5G versions like 5.5G, designed to cater to unique use cases. Also referred to as 5G advanced, 5.5G denotes an upgraded version of 5G network technologies, offering speed that is ten-fold compared to the existing 5G networks. For example, in March 2024, Huawei Technologies Co. Ltd., an ICT infrastructure and smart devices enterprise based in China, introduced eight innovative techniques for 5.5G, aiming to assist operators in establishing such networks across all frequency bands. This extends to crucial technological domains, encompassing antenna progressions, mmWave bandwidth, RAN network intelligence, and energy efficiency. Capable of providing 10 Gbps downlink speeds, this network significantly enhances existing 5G networks.
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What Are the Top Revenue-Generating Geographies 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.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Private 5G Network Market?
2. What is the CAGR expected in the Private 5G Network Market?
3. What Are the Key Innovations Transforming the Private 5G Network Industry?
4. Which Region Is Leading the Private 5G Network Market?
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