PUBLISHER: The Business Research Company | PRODUCT CODE: 1465641
PUBLISHER: The Business Research Company | PRODUCT CODE: 1465641
The 5G Core Network constitutes the central infrastructure of a 5th generation (5G) cellular network architecture, responsible for coordinating and managing network functions and services. Serving as the foundation of the 5G network, it enables cutting-edge capabilities such as ultra-low latency, high-speed data transmission, massive connectivity, and network slicing.
The primary components of the 5G core network encompass solutions and services. 5G commercial contracts denote the agreements and arrangements established among service providers, vendors, and government entities for the acquisition and implementation of 5G technology and services. Deployable in various models, including cloud-based and on-premises setups, it caters to diverse applications such as smart energy, industrial manufacturing, smart medical solutions, media entertainment, and smart transportation. Its adoption spans across multiple end-users, including telecom operators and enterprises.
The 5G core network market research report is one of a series of new reports from The Business Research Company that provides 5G core network market statistics, including 5G core network industry global market size, regional shares, competitors with a 5G core network market share, detailed 5G core network market segments, market trends and opportunities, and any further data you may need to thrive in the 5G core network industry. This 5G core network market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The 5G core network market size has grown exponentially in recent years. It will grow from $2.21 billion in 2023 to $2.78 billion in 2024 at a compound annual growth rate (CAGR) of 25.5%. The growth observed during the historical period can be attributed to several factors, including the need for low latency, the demand for massive IoT connectivity, the adoption of service-based architecture, emphasis on enhanced security measures, and the drive towards achieving global connectivity.
The 5G core network market size is expected to see exponential growth in the next few years. It will grow to $6.31 billion in 2028 at a compound annual growth rate (CAGR) of 22.8%. The projected growth in the forecast period can be linked to several key factors, including the integration of edge computing, the emergence of 5G-enabled vertical industries, government initiatives and policies, efforts towards competitive differentiation, and network modernization endeavors. Major trends expected during this period include the development of 5G-enabled IoT solutions, advancements in network automation and orchestration, enhancements in network synchronization and security measures, as well as the evolution of the 5G core network.
The increasing adoption of 5G services is poised to drive the expansion of the 5G core network market in the foreseeable future. 5G services encompass a variety of applications and use cases enabled by fifth-generation wireless cellular technology. This adoption surge is fueled by the demand for high-speed data transmission, the proliferation of connected devices, and the emergence of IoT applications. The 5G core network serves as the backbone for a diverse array of 5G services, furnishing the requisite infrastructure and capabilities to fully unlock the potential of 5G technology. Designed to support an extensive range of services including enhanced mobile broadband (eMBB), massive machine-type communications (mMTC), and ultra-reliable low-latency communications (UR-LLC), the 5G core network plays a pivotal role in realizing the promises of 5G technology. For example, data from 5G Americas, a US-based industry trade organization, revealed a remarkable surge in global 5G wireless connections, reaching 1.05 billion by the end of 2022, marking a 76% increase from the previous year. Projections indicate a further escalation to 5.9 billion connections by the end of 2027. Hence, the growing adoption of 5G services emerges as a key driver propelling the growth trajectory of the 5G core network market.
Prominent entities within the 5G core network sector are spearheading technological advancements, particularly in cloud-native 5G core network services, aimed at augmenting network capabilities, furnishing service intelligence, and facilitating environmentally conscious network operations. Cloud-Native 5G Core represents a pivotal component engineered to bolster network intelligence, service orchestration, and operational efficiency within 5G networks. For instance, in October 2021, Telefonaktiebolaget LM Ericsson, a Sweden-based telecommunications company, unveiled a Network Data Analytics Function (NWDAF) solution tailored for cloud-native 5G core networks. This solution is designed to elevate network intelligence, service intelligence, and operations and maintenance (O&M) intelligence in the 5G era. Leveraging comprehensive data collection and storage capabilities for network functions, the NWDAF solution enables centralized model training, inference, and prediction. It further facilitates scenario building based on collected data, offering insights into current, predicted, and simulated events while ensuring accountability for data quality and accessibility across the analytics lifecycle.
In June 2023, Hewlett-Packard Enterprise (HPE), a leading US-based information technology corporation, finalized the acquisition of Athonet Srl for an undisclosed sum. This strategic move empowers HPE to extend private networking functionalities directly to enterprises, enriching its Aruba networking portfolio. Simultaneously, it facilitates Communication Service Providers (CSPs) in expeditiously deploying private 5G networks for their clientele. Athonet Srl, headquartered in Italy, specializes in mobile core network technologies and is renowned for its Athonet 5G Core solution, which represents a pivotal component in the evolving landscape of 5G infrastructure.
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.
Asia-Pacific was the largest region in the 5G core network market in 2023. 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.
The countries covered in the 5g core network market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The 5G Core Network market includes revenues earned by entities by services such as machine-type communication, mobility management, authentication and authorization, traffic management, and policy control. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
5G Core Network Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on 5G core network market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for 5G core network ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The 5G core network market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
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