Global 5G Core Network Market Growth Accelerates: Strategic Forecast Predicts $7.62 Billion by 2029

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What Will the 5G Core Network Industry Market Size Be by 2025?
The market size for the 5G core network has seen substantial expansion in the past few years. Expectations indicate that it will increase from $2.78 billion in 2024 to $3.47 billion in 2025, showcasing a compound annual growth rate (CAGR) of 24.8%. The growth during the historical phase is due to factors such as the need for low latency, widespread IoT connectivity, service-based infrastructure, improved security, and worldwide connectivity.

What's the Long-Term Growth Forecast for the 5G Core Network Market Size Through 2029?
The market size for the 5G core network is anticipated to witness a surge in the upcoming years, with an expected size of $7.62 billion in 2029, growing at a compound annual growth rate (CAGR) of 21.8%. Factors that can contribute to this projected growth during the forecast period include the integration of edge computing, 5G-focused vertical industries, government policies and initiatives, network modernization, and competitive differentiation. Furthermore, the period is expected to see trends such as the evolution of the 5G core network, enhancements in network security, network synchronisation, network automation and orchestration, as well as IoT solutions enabled by 5G.

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What Are the Key Growth Drivers Fueling the 5G Core Network Market Expansion?
The 5G core network market is anticipated to burgeon due to the escalating adoption of 5G services. 5G services encompass a plethora of applications and cases enabled by the fifth-generation wireless cellular technology. This surge in the adoption of 5G services stems from the need for high-speed data transmission, the increase in connected devices, and the proliferation of IoT applications. The 5G core network plays a crucial role in providing the essential infrastructure and capabilities to fully exploit the advantages of 5G technology. It caters to an extensive array of services, including enhanced mobile broadband (eMBB), massive machine-type communications (mMTC), and ultra-reliable low-latency communications (UR-LLC). For example, 5G Americas, a US-based industry trade organization, forecasted in April 2023 that global 5G wireless connections would hit 5.9 billion by the close of 2027. Hence, the growing adoption of 5G services is leading to the expansion of the 5G core network market.

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What Are the Key Trends Driving 5G Core Network Market Growth?
Prominent businesses within the 5G core network market are leveraging technological progressions, including Software-as-a-Service (SaaS), to heighten network proficiency, scalability, and affordability. SaaS is a cloud-based model wherein software applications are facilitated by a service provider and are accessible to users via the internet. An illustration of this trend occurred in November 2022, when Nokia Corporation, a multinational firm from Finland specialising in telecommunications, software development, and consumer electronics, introduced Core Software-as-a-Service (SaaS) designed specifically for 5G. Core SaaS is the premiere comprehensive 5G core solution that delivers all core cloud-native network functionalities via a SaaS model. The principal objective of Core SaaS is to support communication service providers (CSPs) and enterprises in managing their networks with increased adaptability and scalability, thereby enriching business flexibility and expediting the enabling of network services for revenue generation. By moving from conventional customised software installations on private systems towards a subscription-based model, operators can circumvent substantial initial capital outlays and also remove the necessity for site-specific software upkeep and upgrades.

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

1) By Components: Solutions, Services
2) By Deployment Model: Cloud, On-Premises
3) By Application: Smart Energy, Industrial Manufacturing, Smart Medical, Media Entertainment, Smart Transportation
4) By End User: Telecom Operators, Enterprises

Subsegments:
1) By Solutions: Network Functions Virtualization (NFV), Software-Defined Networking (SDN), Cloud-Native Core, Data Analytics And Management, Security Solutions
2) By Services: Consulting Services, Integration Services, Maintenance And Support Services, Managed Services

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Which Companies Are Leading the Charge in 5G Core Network Market Innovation?
Major companies operating in the 5G core network market are Samsung Electronics Co. Ltd., Reliance Industries Limited, Dell Technologies Inc., Huawei Technologies Co. Ltd., Intel Corporation, Cisco Systems Inc., Qualcomm Incorporated, Oracle Corporation, Fujitsu Limited, Hewlett Packard Enterprise Company, Telefonaktiebolaget LM Ericsson, Nokia Corporation, NEC Corporation, ZTE Corporation, VMware Inc., Juniper Networks Inc., Ciena Corporation, Mavenir Systems Inc., Ribbon Communications Inc., Casa Systems Inc., Parallel Wireless Inc., Altiostar Networks Inc., Affirmed Networks, Druid Software Ltd., Athonet S.r.l.

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

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