Custom Market Insights
Private 5G Network Market was at US$ 1.45 Billion in 2021 and is growing to approx US$ 41.80 Billion by 2030, with a CAGR growth of 49.7% between 2022 and 2030.
— Custom Market Insights
SANDY, UTAH, UNITED STATES, November 21, 2022 /EINPresswire.com/ — According to the study, The Global Private 5G Network Market was estimated at USD 1.45 Billion in 2021 and is anticipated to reach around USD 41.80 Billion by 2030, growing at a CAGR of roughly 49.7% between 2022 and 2030.
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Private 5G Network Market: Overview
A private 5G network is similar to a public 5G network; however, it allows an owner to offer preferential licensing and access to its wireless spectrum. It is a wireless local area network that uses 5G-enabled technologies to create a network with dedicated infrastructure and bandwidth to meet the specific connectivity needs of an enterprise. For building a private 5G network, enterprises or other end, users need to purchase spectrum from mobile network operators (MNOs), the government, or third-party spectrum providers.
The adoption of private 5G networks is attaining traction globally as regulators allocate more spectrum for enterprises to build private 5G networks. Consequently, the secret 5G network market will reach $xx Mn by 2030.
It is anticipated that vendors in the private 5G network software market will have growth opportunities during the forecast period as enterprises in the manufacturing sector are rapidly implementing 5G capabilities to support transformative applications associated with digital transformation, intelligent factories, and the internet of things (IoT). In addition, many countries are rolling out private 5G networks to augment present capabilities and introduce new possibilities for leading industrial players.
For instance, in 2021, Germany issued 5G personal licenses to about 33 companies, including BASF, BMW, Bosch, Siemens, Volkswagen, and Lufthansa, among others, to run exclusive networks. Also, countries such as France, the U.S., the U.K., and Australia are actively introducing policies to roll out private 5G networks.
Private 5G Network Market: Growth Driver
5G technology has become a significant breakthrough in the global telecom sector and is projected to transform almost all other sectors. Hence, the countries are introducing infrastructure development plans that fuel the growth of the private 5G network market. For instance, in June 2022, democratic nations in the Group of Seven (G7) Summit, including Canada, France, Japan, Germany, Italy, the United Kingdom and the United States, introduced a Partnership for Global Infrastructure and Investment to support the development of quality and sustainable infrastructure in middle-income and developing countries.
Through this partnership, G7 nations are aimed at mobilizing about $600 billion in private and public funding for infrastructure by 2027 to make healthcare, energy, and telecommunications more accessible. On the other hand, as a part of the 14th Five-Year Plan of China 5G network deployment, development has achieved remarkable progress in the past few years.
Thus, infrastructure development plans are boosting the private 5G network market growth.
Furthermore, Industry 4.0 has increased demand for specialized local area networks (LAN) among corporate and industrial sectors. Leading industrial players, including Siemens AG, Mercedes Benz AG, and ABB Ltd., are adopting industrial robotics and sensor-based technologies that help increase production and functional effectiveness. Such technologies rely on the private 5G network for a seamless, secure internet connection.
In addition, 5G-enabled technologies are helping to support the development of intelligent manufacturing and smart factories by offering compelling advantages to manufacturers. This has boosted use cases of self-driving machines, automated guided vehicle systems (AGVs), collaborative mobile robots, AR/VR headsets, predictive maintenance, and augmented reality (A.R.) in industrial applications. Therefore, regulators actively allocate more spectrum to industrial enterprises to establish their own private 5G networks. For instance, in March 2019, the German regulator, Bundesnetzagentur (The Federal Network Agency), announced an assignment of local 5G licenses to meet the need of SMB-sized businesses and industrial applications.
According to this regulator, 5G could significantly support agriculture, industrial automation, and forestry industries. This has mainly driven the growth of the global private 5G network market.
Report URL: https://www.custommarketinsights.com/report/private-5g-network-market/
Key Insights:
A) As per the analysis shared by our research analyst, the Private 5G Network market is estimated to grow annually at a CAGR of around 49.7% over the forecast period (2022-2030).
B) In terms of revenue, the Private 5G Network market was valued at around USD 1.45 Billion in 2021 and is projected to reach USD 41.80 Billion by 2030. Due to a variety of driving factors, the market is predicted to rise at a significant rate.
C) The 5G standard demands a much higher data rate, high reliability, ultra-low latency, and security. However, fourth generation (4G) wireless communication technology LTE and LTE advanced has been deployed all over the globe.
D) Organizations willing to deploy private 5G networks heavily invest in new infrastructure to ensure their existing devices are 5G-ready. This creates lucrative growth opportunities for the market.
E) Deployment of a private 5G network is overgrowing globally; however, enterprises still need to work on the technology’s costs, competition from well-known alternatives such as Wi-Fi 6, and device limitations.
Press Release For Private 5G Network Market : https://www.custommarketinsights.com/press-releases/private-5g-network-market-size/
Regional Landscape
North America held a dominant position and is predicted to dominate during the forecast period in the private 5G network market due to increased spending on developing private 5G network infrastructure by significant service providers such as Verizon Communications and AT&T Inc. However, the Asia-Pacific region is expected to witness the highest growth rate during the forecast period due to growing investment in the development of automated factories and the acquisition of a 5G spectrum among countries such as China, South Korea, Japan, and Australia.
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Key Players
Telefonaktiebolaget LM Ericsson
Nokia Corp.
Samsung
ZTE Corp.
Deutsche Telekom
Juniper Networks
AT&T Inc.
Verizon Communications
Altiostar
Huawei Technologies Co. Ltd.
Mavenir
BT Group
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The Private 5G Network Market is segmented as follows:
By Component
Hardware
Software
Services
By Frequency
Sub-6 GHz
mmWave
By Spectrum
Licensed
Unlicensed/Shared
By Industry Vertical
Manufacturing
Energy & Utilities
Transportation & Logistics
Defense
Enterprises & Campus
Mining
Healthcare/Hospitals
Oil & Gas
Retail
Agriculture
Smart Cities
Others
By Geography
North America
The USA
Canada
Mexico
Europe
The UK
Germany
France
Italy
Russia
Rest of Europe
Asia Pacific
China
India
Japan
South Korea
Malaysia
Philippines
Rest of Asia-pacific
Latin America
Brazil
Rest of Latin America
Middle East and Africa
GCC
North Africa
South Africa
Rest of Middle East & Africa
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