Private 5G Network Market to reach USD 21.50 Bn at a CAGR of 42.3 percent by 2030- Says Maximize Market Research
Maximize Market Research, a leading Electronics business consultancy and research firm has published a report on the “Private 5G Network Market”. The total market opportunity for Private 5G Network Market was USD 1.82 Bn in 2023 and is expected to grow at a CAGR of 42.3 percent through the forecast period, reaching USD 21.50 Bn by 2030. As per the Maximize Market Research report, the global Private 5G Network Market is expected to be dominated by the Asia-Pacific region to grow significantly over the forecast period.
Private 5G Network Market Scope and Research Methodology
Market Size in 2022: USD 1.82 Bn
Market Size in 2029: USD 21.50 Bn
CAGR: 42.3 Percent
Forecast Period: 2024-2030
Base Year: 2023
Number of Pages: 222
No. of Tables: 136
No. of Charts and Figures: 192
Segment Covered: By Industry Outlook, Frequency, Spectrum Outlook and Vertical Outlook
Regional Scope: North America, Europe, Asia Pacific, and Africa, South America
Report Coverage: Market Share, Size and Forecast by Revenue | 2023−2030, Market Dynamics, Growth Drivers, Restraints, Investment Opportunities, and Key Trends, Competitive Landscape, Key Players Benchmarking, Competitive Analysis, MMR Competition Matrix, Competitive Leadership Mapping, Global Key Players’ Market Ranking Analysis.
The Private 5G Network Market report comprehensively examines market structure and competitive dynamics. Researching the private 5G network market entails a structured approach beginning with clearly defined objectives and a comprehensive literature review to understand the current landscape. Methodologies involve a mix of primary research through interviews, surveys, and secondary research from industry reports and databases. Sampling strategies ensure representation, while data analysis utilizes statistical and analytical techniques to identify trends, market sizing, and competitive landscapes. Key areas of focus include trend analysis, risk assessment, and forecasting. Findings are synthesized into a detailed report, validated through peer review or expert consultation, and disseminated to stakeholders, with ongoing monitoring to stay abreast of developments.
Private 5G Network Market Overview
Industries across manufacturing, transportation, healthcare, and beyond are increasingly embracing private 5G networks for their superior attributes such as accelerated data transfer rates, reduced latency, and enhanced security when compared to conventional networks. These networks are poised to drive advancements in smart factories, autonomous vehicles, and other Industry 4.0 technologies. Functioning akin to public 5G networks, private 5G networks empower their owners to control licensing and access to wireless spectrum. Essentially, they establish wireless local area networks leveraging 5G technology to construct specialized infrastructure tailored to a company’s unique connectivity needs. Procuring spectrum from mobile network operators (MNOs), governmental bodies, or third-party suppliers is imperative for enterprises and end-users looking to establish private 5G networks. The report comprehensively analyzes spectrum intricacies, offering valuable insights into the Private 5G Network Market landscape.
Private 5G Network Market Dynamics
The robust expansion of the private 5G network market is propelled by several key drivers. Foremost among these is the escalating demand for swift, low-latency communication. Private 5G networks outshine traditional wireless counterparts by offering elevated data speeds and diminished latency, rendering them indispensable for applications reliant on real-time data processing and rapid communication. Additionally, the burgeoning necessity for secure and steadfast communication fuels market growth. Amidst mounting cybersecurity risks and data breaches, organizations increasingly seek out secure and dependable communication solutions. Private 5G networks emerge as a beacon of enhanced security and reliability vis-à-vis public networks, boasting customization capabilities tailored to organizational requisites.
Besides, the ascent of Industry 4.0 technologies like the Industrial Internet of Things (IIoT), automation, and artificial intelligence further propels the private 5G network market’s trajectory. Possessing superior bandwidth, reduced latency, and expansive coverage, private 5G networks prove ideal for industrial applications. A notable instance is the collaborative effort announced in October 2020 between Siemens and Qualcomm to pioneer 5G-based technologies for industrial automation, fostering new frontiers such as predictive maintenance, autonomous logistics, and augmented reality. Additionally, substantial investments from governments and private entities in 5G infrastructure development catalyze market expansion. Notably, initiatives such as the US Federal Communications Commission (FCC)’s announcement in November 2023 to auction mid-band spectrum for 5G networks promise to bolster the private 5G network market. Major industry players such as Ericsson, Nokia, and Huawei are also making significant investments in 5G infrastructure development, further fuelling the growth of the private 5G network industry. India has also made strides in fortifying its infrastructure for the private 5G network industry, underlining its global significance.
Private 5G Network Market Regional Insight
The market segmentation by regions includes North America, Europe, Asia-Pacific, South America, and the Middle East & Africa (MEA). North America is poised to dominate the 5G network market share, fueled by the escalating adoption of private 5G networks in sectors like healthcare and defense. Europe and Asia-Pacific are forecasted to exhibit substantial market growth, propelled by the burgeoning demand for digital transformation and advancements in IoT. The global market is experiencing remarkable expansion, with North America, Europe, and Asia-Pacific spearheading growth. These regions are currently at the forefront, driven by escalating demands for high-speed connectivity, IoT innovations, and imperatives for secure communication. North America is anticipated to achieve a CAGR of 29.3 percent from 2024 to 2030, while Europe is projected to grow at 31.4 percent during the same period. Asia-Pacific is poised for significant expansion too, fueled by escalating demands for digital transformation, IoT progressions, and high-speed connectivity, especially in remote areas, with an expected CAGR of 35.3 percent. The Rest of the World is also experiencing noteworthy growth in private 5G network adoption, attributable to rising demands for digital transformation and high-speed connectivity in remote regions.
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Private 5G Network Market Segmentation
By Industry Outlook:
- Hardware
- Software
- Service
- In 2023, the hardware component emerged as the dominant revenue contributor, constituting over 55.0 percent of the Private 5G Network Market share. This prominence can be attributed to the widespread deployment of essential infrastructure like core networks and backhaul and transport equipment on a global scale. The hardware segment is intricately divided into Radio Access Network (RAN), core network, and backhaul and transport.
By Frequency:
- Sub-6 GHz
- mmWave
By Spectrum Outlook:
- Licensed
- Unlicensed/Shared
By Vertical Outlook:
- Cisco (US)
- Ericsson (Sweden)
- Huawei (China)
- Network International
- Telefonica Brasil
- CommScope (US)
- Nokia (Finland)
- Samsung (South Korea)
- RADCOM
- Verizon (US)
- Orange (France)
- NEC Corporation (Japan)
- Telecom Argentina
- Intel Corporation (US)
- Vodafone (UK)
- ZTE Corporation (China)
- Dell Technologies (US)
- Telefónica (Spain)
- ALT Telecom
- Juniper Networks (US)
- Deutsche Telekom (Germany)
- Bharti Airtel (India)
- HPE (US)
- BT Group (UK)
- Fujitsu (Japan)
- IBM (US)
- Infosys (India)
Key questions answered in the Private 5G Network Market are:
- What is Private 5G Network?
- What is the current growth rate of the Private 5G Network Market?
- Who are the key players in the Private 5G Network Market?
- What are the factors affecting growth in the Private 5G Network Market?
- Who held the largest market share in Private 5G Network Market?
- What is the demand pattern for the Private 5G Network Market?
- What are the key trends in Private 5G Network?
- What are the strategies used by competitors in the Private 5G Network Market?
- What are the growth prospects in developing countries for the Private 5G Network Market?
- Which segment is expected to witness the fastest growth and why in the Private 5G Network Market?
Key Offerings:
- Past Market Size and Competitive Landscape (2018 to 2022)
- Past Pricing and price curve by region (2018 to 2022)
- Market Size, Share, Size & Forecast by different segment | 2023−2030
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by region
- Market Segmentation – A detailed analysis by Industry Outlook, Frequency, Spectrum Outlook and Vertical Outlook and Region
- Competitive Landscape – Profiles of selected key players by region in a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of business by region
- Lucrative business opportunities with SWOT analysis
- Recommendations
Maximize Market Research is leading Information Technology and Telecommunication research firm, has also published the following reports:
Private Wireless Market: The Semiconductor Market size was valued at USD 5.1 Bn in 2023 and is expected to reach USD 21.72 Bn by 2030, at a CAGR of 23 percent. 5G technology is expected to easily integrate or replace the existing wired connections. 5G technology provides faster speeds with lower latency, and also provide higher bandwidth.
Private Narrowband IoT Market: Global Semiconductor Components Market size was valued at USD 2.69 Bn in 2023 and is expected to reach USD 265.08 Bn by 2030, at a CAGR of 92.6 percent over the forecast period. Telecom operators are now investing in private NB-IoT initiatives and running pilot projects in various regions/countries, which is boosting the global private narrowband IoT market during the forecast period.
About Maximize Market Research:
Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
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