The global Private 5G Network Market size is estimated to reach USD 36.08 billion by 2030, registering a CAGR of 54.1% from 2024 to 2030, according to a new study by Grand View Research, Inc. Significantly growing demand for ultra-reliable low-latency connectivity with a highly secure network across several mission-critical applications, such as public safety, is expected to boost the deployment of private 5G networks during the forecast period. Moreover, many industries, including manufacturing, oil & gas, mining, and energy & utility, are investing a massive amount in deploying private 5G telecom services to enhance their overall productivity and operational efficiency. As a result, it is expected to foster market growth.
The private 5G network is expected to
completely transform the transportation and logistics industry by providing
seamless Vehicle-to-Vehicle (V2V) and Vehicle-to-Infrastructure (V2I)
connectivity. As such, the need to ensure secure, seamless, and uninterrupted
connectivity with ports, vessels, and ships is estimated to drive the market.
At the same time, the continued deployment of private 5G infrastructure is
estimated to improve the operational efficiencies in several Industrial IoT
(IIoT) use cases. The IIoT use cases include automated guided vehicles (AGV),
wireless UHD cameras, machine control systems, collaborative/cloud robots, and
remote asset monitoring. Thus, the rising need for higher and secure bandwidth
to ensure reliable and unified communication between IoT devices is expected to
propel the market growth over the forecast period.
Key market players are entering strategic
partnerships to provide high-speed private 5G network connectivity. For
instance, in February 2024, Kyndryl announced its collaboration with Hewlett
Packard Enterprise (HPE). With this partnership, the two companies envisage
developing and delivering LTE and 5G private wireless services to customers
worldwide. Such initiatives harness innovation and development in the market.
Due to the ongoing COVID-19 pandemic,
several key countries, such as the U.S., France, the UK, and Australia, have
temporarily postponed the 5G spectrum auctions. The pandemic has also hampered
the production and supply of significant telecom equipment needed to deploy the
network infrastructure. As a result, the market is anticipated to witness
growth over the forecast period.
List of Key Players in the Private 5G
Network Market
·
Telefonaktiebolaget LM Ericsson
·
Nokia Corporation
·
Samsung Electronics Co., Ltd.
·
ZTE Corporation
·
Deutsche Telekom Group
·
AT&T Inc.
·
Juniper Networks, Inc.
·
Verizon Communications, Inc.
·
Altiostar
·
HUAWEI TECHNOLOGIES CO., LTD.
·
Mavenir
·
T-Systems International GmbH
·
Cisco Systems, Inc.
·
Vodafone Group Plc
·
BT Group
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Private 5G Network Market
Report Highlights
·
The hardware segment dominated the market
in 2023 and is expected to retain its dominance from 2024 to 2030 due to the
increasing deployment of private 5G service, RAN, and backhaul and transport
equipment for various mission-critical applications
·
The sub-6 GHz segment dominated the market
in 2023. The segment’s dominance can be attributed to the massive allocation of
sub-6 GHz frequencies by communication service providers to deliver network
services
·
The unlicensed/shared segment dominated the
market in 2023. With a rising need to avail affordable and highly secure bands
of the frequency spectrum for Massive Machine Type Communication (mMTC), this
segment is anticipated to account for a significant market share by 2030
·
The large enterprises segment dominated the
market in 2023. Fuelled by the need for efficiency and innovation, large
enterprises rapidly deploy private 5G networks, propelling significant segment
growth. These secure, high-speed connections are unlocking new industrial
applications, thus fuelling digital transformation
·
The manufacturing/factories segment
dominated the market in 2023. With the growing need to provide unified
connectivity with low latency to several industrial sensors, the manufacturing
sector is anticipated to witness massive market growth over the forecast period
·
Asia Pacific region is expected to register
the fastest CAGR from 2024 to 2030. The huge presence of manufacturers and
their substantial investments in building automated factories in the region is
expected to fuel the market growth. Moreover, countries such as China, South
Korea, Japan, and Australia are making considerable investments to acquire the
5G spectrum, which is anticipated to support the regional market growth
·
Key market players are entering into
strategic partnerships to provide their private 5G network offerings. For
instance, in February 2023, Telefonaktiebolaget LM Ericsson announced its
partnership with MUGLER, a European telco network provider and system
integrator. The partnership envisages providing private 5G networks to support
adopting, using, and scaling advanced and emerging data-driven technologies
powered by secure and reliable connectivity
Private
5G Network Market Segmentation
Grand View Research has segmented the
global private 5G network market based on component, frequency, spectrum,
enterprise size, vertical, and region:
Private 5G Network Component Outlook
(Revenue, USD Million, 2020 - 2030)
·
Hardware
o
Radio Access Network
o
Core Network
o
Backhaul & Transport
·
Software
·
Services
o
Installation & Integration
o
Data Services
o
Support & Maintenance
Private 5G Network Frequency Outlook
(Revenue, USD Million, 2020 - 2030)
·
Sub-6 GHz
·
mmWave
Private 5G Network Spectrum Outlook
(Revenue, USD Million, 2020 - 2030)
·
Licensed
·
Unlicensed/Shared
Private 5G Network Enterprise Size Outlook
(Revenue, USD Million, 2020 - 2030)
·
Small & Medium Enterprises
·
Large Enterprises
Private 5G Network Vertical Outlook
(Revenue, USD Million, 2020 - 2030)
·
Manufacturing/Factories
o
Automotive
o
Electrical & Electronics
o
Food & Beverages
o
Pharmaceuticals
o
Heavy Machinery
o
Clothing & Accessories
o
Others
·
Energy & Utilities
·
Transportation & Logistics
·
Defense
·
Enterprises & Campus
·
Mining
·
Healthcare/Hospitals
·
Oil & Gas
·
Retail
·
Agriculture
·
Smart Cities
·
Others
Private 5G Network Regional Outlook
(Revenue, USD Million, 2020 - 2030)
·
North America
o
U.S.
o
Canada
o
Mexico
·
Europe
o
UK
o
Germany
o
Italy
·
Asia Pacific
o
China
o
India
o
Japan
o
South Korea
o
Australia
·
South America
o
Brazil
·
Middle East & Africa (MEA)
o
Kingdom of Saudi Arabia (KSA)
o
UAE
o
South Africa
About Us:
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, the
company offers market intelligence studies ensuring relevant and fact-based
research across a range of industries including technology, chemicals,
materials, healthcare and energy.
Contact:
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Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415- 349-0058
Toll Free: 1-888- 202-9519
Email: sales@grandviewresearch.com
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