Global 5G Core Market Projected to Grow at 77.8% CAGR, Reaching $105.06 Billion by 2029

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What Will the 5G Core Industry Market Size Be by 2025?
The size of the 5G core market has seen substantial growth in the past few years, with projections for it to rise from a value of $6.1 billion in 2024 to $10.52 billion in 2025, representing a compound annual growth rate (CAGR) of 72.4%. Factors contributing to this increase during the historic period include a surge in mobile data traffic, the need for greater data speeds and reduced latency, the spread of the internet of things (IoT), global efforts towards standardization, along with a competitive industry landscape and collaboration.

What's the Long-Term Growth Forecast for the 5G Core Market Size Through 2029?
The size of the 5G core market is predicted to expand significantly in the coming years, escalating to "$105.06 billion in 2029 with a compound annual growth rate (CAGR) of 77.8%. The escalation during this forecast period is majorly due to the swift roll-out of 5G networks, an increase in the use of 5G in enterprise and industry, a heightened focus on network security, the development of private 5G networks, and ongoing evolution of standards. The forecast period will also see prominent trends such as industry-specific applications using network slicing, the incorporation of edge computing into 5G core networks, the implementation of open ran (radio access network), the use of AI and automation for network optimization, and the introduction of advanced security measures for 5G networks.

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What Are the Key Growth Drivers Fueling the 5G Core Market Expansion?
Anticipations are that the significant increase in data traffic will rocket the advancement of the 5G core market. Data traffic, also known as network traffic, relates to the amount of data transmitted over a network at any given moment. Using the 5G Core for managing this traffic has numerous benefits like improved network capabilities, service exposure, and traffic steering traits. These advantages provide further resources for optimizing traffic management and attaining efficient handling of data traffic. As pointed out in a report by Telefonaktiebolaget LM Ericsson, a Swedish IT service provider, the global mobile data traffic reached approximately 90 EB per month in 2022, and it is projected to quadruple nearing 325 EB per month by 2028. Consequently, the considerable increase in data traffic necessitates a greater use of the 5G core.

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What Are the Key Trends Driving 5G Core Market Growth?
The rise in technological innovations is a significant trend being observed in the 5G core market. Firms in this sphere are employing cutting-edge technologies to preserve their competitive edge. For example, Nokia Corporation, a top-ranked telecommunication service provider based in Finland, rolled out a software-as-a-service (SaaS) option in November 2022. This novel service targets corporate clients seeking a simpler approach to implementing the 5G standalone (SA) core network, in addition to the company's current offerings. Nokia offers a 5G Core SaaS through a subscription model that negates the requirement for any initial investment or the task of overseeing software upkeep and upgrades. Nokia's Core SaaS is the first full-fledged 5G core solution on the market, providing all essential cloud-native network services using a SaaS delivery model.

How Is the 5G Core Market Segmented?
The 5G core market covered in this report is segmented -

1) By Component: Solutions, Services
2) By Deployment: Cloud, On-Premises
3) By Network Function: Access and Mobility Management (AMF), Session Management Function (SMF), User Plane Function (UPF), Policy Control Function (PCF), Network Exposure Function (NEF), Network Repository Function (NRF), Unified Data Management (UDM), Authentication Server Function (AUSF), Application Function (AF), Network Slicing Selection Function (NSSF)
4) By End-User: Telecom Operators, Enterprises

Subsegments:
1) By Solutions: Cloud-Native Functions, Software-Defined Networking (SDN), Network Functions Virtualization (NFV), Network Slicing, Others
2) By Services: Professional Services, Managed Services

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Which Companies Are Leading the Charge in 5G Core Market Innovation?
Major companies operating in the 5G core market include Nokia Corporation, Huawei Technologies Co. Ltd., Samsung Electronics Co. Ltd., Cisco Systems Inc., Affirmed Networks Inc., ZTE Corporation, NEC Corporation, Oracle Corporation, Telefonaktiebolaget LM Ericsson, Hewlett Packard Enterprise Company LP, HRMavenir Systems Inc., Druid Software Ltd., IPLOOK Technologies, AT&T Inc., Orange SA, VMware Inc., Athonet, Ciena Corporation, F5 Networks Inc., Altiostar Networks, Parallel Wireless Pvt. Ltd, Reliance Industries Limited, Juniper Networks Inc., Amdocs, Datang Telecom Group, Alpha Networks Inc., Dell Technologies Inc., Bharti Airtel Limited, Rakuten Mobile Inc.

Which Regions Are Leading the Global 5G Core Market in Revenue?
Asia-Pacific was the largest region in the 5G core market in 2024.Asia-Pacific is expected to be the fastest-growing region in the global 5G core market report during the forecast period. The regions covered in the 5g core market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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