Private 5G Network Market Share, Size and Development Trends of Analysis Report 2030

Private 5G Network Market Growth & Trends

The global private 5G network market size is expected to reach USD 41.02 billion by 2030, according to a new study by Grand View Research, Inc. It is expected to expand at a CAGR of 49.0% from 2022 to 2030. Significantly growing demand for ultra-reliable low-latency connectivity with an extremely 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, a wide range of industries, including manufacturing, oil and gas, mining, and energy and 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 from 2022 to 2030.

North America private 5G network market size, by component, 2020 - 2030 (USD Million)

Private 5G Network Market Segmentation

Grand View Research has segmented the global private 5G network market based on component, frequency, spectrum, vertical, and region:

Based on the Component Insights, the market is segmented into Hardware, Software, and Services.

  • In 2021, the hardware segment accounted for the largest revenue share of over 55.0% due to the increased deployment of core networks and backhaul and transport equipment across the globe. The hardware segment mainly encompasses three component categories, including Radio Access Network (RAN), core network, and backhaul and transports.
  • The services segment includes three key services, such as installation and integration, data services, and support and maintenance.
  • Furthermore, with a significant focus on deploying cloud-based RAN, core, and edge networks, the software segment is expected to witness high demand in the market over the forecast period. This would help clients to minimize the overall CAPEX during the installation.

Based on the Frequency Insights, the market is segmented into Sub-6 GHz and mmWave.

  • In 2021, the sub-6 GHz segment held the largest revenue share of over 85.0%. The sub-6 GHz frequency encompasses a low band and a mid-band of spectrum ranges mainly 6GHz and below. Recently, governments across key countries, such as China, the U.S., Japan, and South Korea, released sub-6 GHz frequencies to provide 5G services.
  • mmWave frequencies are high band frequencies that provide significantly high connectivity with very low latency. These frequency bands would be mainly helpful wherein ultra-reliable connectivity would be required, especially in infrastructure connectivity. In addition, few federal governments across leading countries have released mmWave frequency bands to provide private 5G services.

Based on the Spectrum Insights, the market is segmented into Licensed and Unlicensed/Shared.

  • In 2021, the unlicensed/shared segment accounted for the largest revenue share of over 70.0% and is projected to expand at the fastest CAGR from 2022 to 2030. The high growth is attributed to the rising demand for high-speed private 5G networks at affordable costs. Unlicensed spectrum bandwidth is easily accessible and highly preferred during massive machine-type communications (mMTC).
  • A licensed spectrum is a bit costlier than an unlicensed/shared spectrum as a company needs to buy an entire license for a particular spectrum bandwidth for enhanced and secured internet connectivity. Access to a licensed spectrum can also be achieved from Communication Service Providers (CSP).

Based on the Vertical Insights, the market is segmented into Manufacturing/Factories, Energy & Utilities, Transportation & Logistics, Defense, Enterprises & Campus, Mining, Healthcare/Hospitals, Oil & Gas, Retail, Agriculture, Smart Cities, Others.

  • In 2021, the manufacturing/factories segment held the largest revenue share of over 15.0% and is projected to expand at the fastest CAGR during the forecast period. The growth is attributed to the high demand for private 5G services to provide seamless connectivity to several devices, such as Ultra-HD cameras, extended reality headsets, and AGVs.
  • Several governments and public safety organizations are adopting a private 5G network for various applications owing to quick communication with first responders during emergencies. Moreover, the demand is expected to rise across enterprises/corporates due to an increasing need to manage their data at their premises, securely.
  • Furthermore, the energy and utility sector is anticipated to showcase significant growth in the adoption of a secured private network to get high-speed internet connectivity during energy generation and distribution applications. The need to provide improved connectivity to ships and containers/vessels for remote monitoring is expected to fuel the adoption of a private 5G network in the transportation and logistics segment over the forecast period.

Private 5G Networks Regional Outlook

  • North America
  • Europe
  • Asia Pacific
  • South America
  • Middle East & Africa

Market Share Insights

  • February 2022: Qualcomm Technologies, Inc. collaborated with Microsoft Corporation to deliver the chip to cloud solutions for the effective implementation of a private 5G network globally.
  • February 2020: Vodafone Ltd. made a partnership with Lufthansa Technik to establish a private 5G network campus at Hamburg Airport, Germany. This strategic partnership will help Lufthansa Technik to customize the network configuration as per their needs.

Key Companies Profile & Market Share Insights

Key market players are strategically building partnerships with industrial manufacturers to establish a private 5G network-based test center to test several industrial automated devices on a private 5G network.

Some of the prominent players operating in the global private 5G networks market include,

  • 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
  • T-Systems International GmbH
  • Cisco Systems, Inc.
  • Vodafone Ltd.

Order a free sample PDF of the Private 5G Networks Market Intelligence Study, published by Grand View Research.

Comments

Post a Comment

Popular posts from this blog

South Africa Veterinary Medicine Market Size, Share, Revenue Analysis By 2028

Image
South Africa Veterinary Medicine Industry Overview The  South Africa veterinary medicine market  size is expected to reach USD 248.2 million by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 10.1% from 2021 to 2028. The market holds many opportunities to grow during the forecast period owing to the growing livestock and pet population, increasing consumption of meat, rising incidence of diseases in animals, and the presence of key global companies. According to a report published by the African Union/Interafrican Bureau for Animal Resources (AU/IBAR), MSD Animal Health leads the South African market for veterinary medicines, followed by other key companies. South Africa Veterinary Medicine Market Segmentation Grand View Research has segmented the South Africa veterinary medicine market on the basis of animal type, product, mode of delivery, and end-use: Based on the Animal Type Insights, the market is segmented i...
Read more

Fencing Market Competitive Landscape And Component Benchmarking 2030

Image
Fencing Market Growth & Trends The global  fencing market  size is anticipated to reach USD 44.39 billion by 2030, growing at a CAGR of 5.5% over the forecast period, according to a new report by Grand View Research, Inc. The growing need to safeguard agricultural assets and the aggressive investments being made by private companies in strengthening the security and enhancing the aesthetics of their premises are expected to drive the growth of the market over the forecast period. The growth of the  real estate market  and the increase in the number of remodeling projects being undertaken are expected to contribute to the growth of the market. Fencing Market Segmentation Grand View Research has segmented the global fencing market based on material, distribution channel, installation, application, end use, and region: Based on the Material Insights, the market is segmented into Metal, Wood, Plastic & Composite, Concrete. The metal segment accounted for ...
Read more

U.S. Cold Storage Market Distributor Analysis and Forecasts By 2030

Image
U.S. Cold Storage Market Growth & Trends The  U.S. cold storage market  size is estimated to reach USD 96.90 billion by 2030, expanding at a CAGR of 13.6% over the forecast period, according to the new research conducted by Grand View Research, Inc. The U.S. is widely regarded as one of the leading markets in developing technologies responsible for the effective management of cold storage processes. The pharmaceutical industry is expected to offer growth opportunities to the market. Inventory management of pharmaceutical goods, such as vaccines   and medicines, is an expensive process that necessitates adequate security measures to maintain product quality. Advanced cold storage technologies that offer beneficial features, such as advanced refrigeration technologies and monitoring and tracking systems of various products like fruits and vegetables, significantly mitigate the possibility of wastage of temperature-sensitive goods. U.S. Cold Storage Market S...
Read more