Private 5G Network Market 2030: 50%+ CAGR Connectivity Boom

Private 5G Network Market Overview

The global private 5G network market was valued at USD 2.00 billion in 2023 and is expected to surge to USD 36.08 billion by 2030, registering a remarkable CAGR of 54.1% from 2024 to 2030. This rapid expansion is driven by the growing demand from enterprises and governments for secure, dedicated, and high-performance wireless connectivity. Private 5G networks enable organizations to connect a large number of devices, enhance automation capabilities, and deliver improved operational efficiency and customer experiences.

Private 5G adoption is accelerating across a wide range of industries, including manufacturing, utilities, transportation, logistics, retail, agriculture, and smart city initiatives. In smart city deployments, private 5G networks support applications such as traffic optimization, public safety, and advanced surveillance systems. Compared to traditional Wi-Fi networks, private 5G solutions offer ultra-low latency, higher bandwidth, improved reliability, extended coverage, enhanced security, and prioritized network access, making them suitable for mission-critical applications.

As enterprises increasingly rely on connected devices and digital platforms, challenges such as network congestion, limited coverage, and data security risks have become more pronounced. Private 5G networks address these concerns by delivering connectivity within a controlled and dedicated environment. This enables stronger data protection, consistent network performance, and seamless integration of automation technologies. As a result, organizations can streamline operations while maintaining high service quality and reliability.

Furthermore, private 5G networks support advanced and emerging use cases such as machine control systems, wireless ultra-high-definition cameras, collaborative and cloud-based robotics, and remote asset monitoring. These capabilities are particularly valuable in industrial and logistics environments where real-time data processing and low-latency communication are essential. The ability of private 5G to support such technologically advanced applications continues to fuel market growth across both developed and emerging economies.

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

Key Market Trends & Insights

  • North America led the private 5G network market with a revenue share of 31.64% in 2023.
  • The U.S. private 5G network market is projected to grow at a CAGR of 56.2% from 2024 to 2030.
  • By component, the hardware segment dominated the market, accounting for 53.88% of global revenue in 2023.
  • By frequency, the mmWave segment is expected to witness substantial growth during the forecast period.
  • By spectrum, the unlicensed/shared segment led the market in 2023 and is projected to grow at the fastest CAGR over the forecast period.

Market Size & Forecast

  • 2023 Market Size: USD 2.00 Billion
  • 2030 Projected Market Size: USD 36.08 Billion
  • CAGR (2024–2030): 54.1%
  • North America: Largest market in 2023
  • Asia Pacific: Fastest-growing market

Key Private 5G Network Company Insights

The competitive landscape of the private 5G network market includes several global technology and telecommunications leaders focusing on innovation, product development, and geographic expansion. These companies are strengthening their market positions through strategic partnerships, network deployments, and investments in advanced 5G infrastructure.

Telefonaktiebolaget LM Ericsson provides comprehensive ICT solutions, including 5G- and IoT-enabled networks, managed services, and digital platforms tailored to diverse enterprise requirements. The company emphasizes new product rollouts and global expansion to strengthen its presence in the private 5G ecosystem.

Nokia Corporation offers an integrated portfolio of software, hardware, and services for mobile and fixed network infrastructure. The company plays a significant role in private 5G deployments through its focus on digital automation, industrial connectivity, and advanced software platforms, supported by a strong global footprint and diversified product offerings.

Key companies operating in the private 5G network market include:

  • Telefonaktiebolaget LM Ericsson
  • Nokia Corporation
  • Samsung Electronics Co., Ltd.
  • ZTE Corporation
  • Deutsche Telekom Group
  • AT&T Inc.
  • Juniper Networks, Inc.
  • Verizon Communications
  • Altiostar
  • HUAWEI TECHNOLOGIES CO., LTD.
  • Mavenir
  • T-Systems International GmbH
  • Cisco Systems, Inc.
  • Vodafone Group Plc
  • BT Group

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Conclusion

The private 5G network market is poised for exceptional growth, driven by the increasing need for secure, high-speed, and reliable connectivity across enterprise and government applications. Its ability to support advanced automation, real-time data processing, and mission-critical operations positions private 5G as a key enabler of digital transformation. With North America currently leading adoption and Asia Pacific emerging as the fastest-growing region, continued investments in infrastructure, spectrum availability, and advanced use cases are expected to sustain strong market momentum through 2030.

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