PUBLISHER: The Business Research Company | PRODUCT CODE: 1499910
PUBLISHER: The Business Research Company | PRODUCT CODE: 1499910
A private 5G network denotes a localized cellular network that operates independently from public mobile network operators. It harnesses the 5G (fifth generation) wireless technology to furnish high-speed, low-latency connectivity within specific locales, like corporate campuses, manufacturing plants, stadiums, or campuses. These private 5G networks afford organizations superior flexibility, control, and performance compared to traditional public cellular networks, enabling tailored connectivity solutions tailored to specific needs and use cases.
The primary components of a private 5G network encompass hardware, software, and services. Hardware encompasses physical elements such as devices, equipment, and infrastructure, spanning deployments on-premises and in the cloud. It encompasses various frequency bands like sub-6 GHz and mmWave, including licensed and unlicensed or shared spectrums, and finds utility across diverse sectors such as 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, among others.
The private 5G network market research report is one of a series of new reports from The Business Research Company that provides private 5G network market statistics, including private 5G network industry global market size, regional shares, competitors with a private 5G network market share, detailed private 5G network market segments, market trends and opportunities, and any further data you may need to thrive in the private 5G network industry. This private 5G 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 private 5G network market size has grown exponentially in recent years. It will grow from $2.30 billion in 2023 to $3.42 billion in 2024 at a compound annual growth rate (CAGR) of 48.7%. The historic period's growth can be attributed to advancements in technology, rising demands for data security, industry-specific needs, the widespread adoption of the Internet of Things (IoT), and the necessity for low-latency communication.
The private 5G network market size is expected to see exponential growth in the next few years. It will grow to $6.83 billion in 2028 at a compound annual growth rate (CAGR) of 48.9%. The anticipated growth in the forecast period can be credited to the emergence of Industry 4.0, the expansion of smart cities initiatives, the proliferation of edge computing applications, the increase in remote working and telemedicine, and the adoption of augmented reality (AR) and virtual reality (VR) applications. Major trends expected in the forecast period encompass the integration of artificial intelligence (AI), the development of hybrid network models, a focus on network slicing for customization, the escalating use of private 5G in industrial automation, and the expansion of private 5G networks in rural areas.
The private 5G network market is anticipated to experience growth driven by the increasing adoption of the Internet of Things (IoT). IoT involves connecting physical objects equipped with sensors, software, and other technologies to exchange data with other devices and systems via the Internet. The growing demand for IoT stems from its ability to enhance efficiency and productivity, achieve cost savings, gain insights from data, enable automation and control, foster innovation, and provide a competitive edge. Private 5G networks harness IoT capabilities to support various applications, offering a secure, reliable, low-latency, high-speed network that facilitates advanced technologies to enhance serviceability and enable real-time deterministic use cases. For instance, according to Akamai Technologies Inc., a US-based internet company, IoT connections are projected to rise from 15.1 billion in 2021 to 23.3 billion by 2025, as reported in August 2022.
Key players in the private 5G network sector are concentrating on developing enhanced iterations of 5G, such as 5.5G, to cater to specific use case requirements. 5.5G, also referred to as 5G advanced, represents the next generation of 5G network technologies promising speeds ten times faster than current 5G networks. For example, Huawei Technologies Co. Ltd., a China-based provider of information and communications technology (ICT) infrastructure and smart devices, unveiled eight 5.5G innovation practices in March 2024 to assist operators in deploying such networks across all frequency bands. These practices encompass crucial technological aspects such as antenna advancements, mmWave bandwidth, network intelligence within the RAN, and energy efficiency, enabling networks to deliver downlink speeds of 10 Gbps, a significant improvement over existing 5G networks.
In June 2023, Hewlett-Packard Enterprise, a US-based provider of intelligent solutions and cloud-based services, acquired Athonet for an undisclosed sum. This acquisition aims to broaden Hewlett-Packard Enterprise's edge-to-cloud and telecommunications portfolios to meet the rising demand for private networking and enterprise 5G. It will enable the integration of Athonet's technology into Hewlett-Packard Enterprise's existing CSP and Aruba networking enterprise offerings, establishing a comprehensive private networking portfolio. Athonet, headquartered in Italy, specializes in developing a connectivity platform for deploying LTE and 5G wireless networks for organizations.
Major companies operating in the private 5g network market 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.
North America was the largest region in the private 5G network market in 2023. The regions covered in the private 5g network market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the private 5g network market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The private 5G network market consists of revenues earned by entities by providing services such as network design, installation, maintenance, ultra-reliable low-latency communication, and network slicing and management. The market value includes the value of related goods sold by the service provider or included within the service offering. The private 5G network market also includes sales of 5G base stations, small cells, antennas, routers, and software solutions for network management, security, virtualization, and application deployment. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
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.
Private 5G 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 private 5G 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 private 5G network? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The private 5G 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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