Chicago, Aug. 02, 2023 (GLOBE NEWSWIRE) -- The global 5G Core Market size is projected to grow from USD 630 million in 2020 to USD 9,497 million by 2025, at a CAGR of 72.0% during the forecast period, according to a new report by MarketsandMarkets™. The 5G Core Market is gaining traction due to its cloud-native and service-based architecture that will improve the modularity of products with greater emphasis on low latency, URLLC, eMBB, and mMTC offerings.
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128 - Tables
72 - Figures
266 - Pages
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Scope of the Report
| Report Attributes | Details |
| Revenue Forecast in 2025 | $9,497 million |
| Market size Value in 2020 | $630 million |
| Growth Rate | CAGR of 72% |
| Key Market Growth Drivers | Industry 4.0 paved the way for mMTC |
| Key Market Opportunities | Demand for Private 5G across enterprises, government, and industrial sectors. |
| Market size available for years | 2020-2025 |
| Forecast period | 2020-2025 |
| Forecast units | Value (USD Million) |
| Segments covered | Component (solutions and services), deployment model, network functions, and end user |
| Regions covered | North America, Europe, APAC, and RoW |
| Companies covered | Nokia (Finland), Ericsson (Sweden), Huawei (China),ZTE (China), Samsung (South Korea), Affirmed Networks(US), Mavenir(US), NEC(Japan), Cisco(US), HPE(US), Oracle(US), Athonet(Italy), Casa Systems(US), Cumucore(Finland), Druid Software(Ireland), IPLOOK (China), and Metaswitch(UK). |
The 5G core solutions are actuated by factors such as an increase in demand for broadband services over a mobile network, virtualization of networks, significant growth in mobile data traffic volumes, and a rise in demand for high-speed and large network coverage are driving the growth of the 5G Core Market. There are immense new opportunities for this market, such as a continuous increase in the number of IoT-connected devices, and agile networks, which are expected to shape the future of the 5G Core Market.
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The services segment has a key role to play in the 5G Core Market and is expected to grow at a higher CAGR during the forecast period. The changing trends in technologies have surged the need for the services segment by the end-users. 5G core network is new to telecom operators and enterprise customers and needs to be managed end-to-end. The deployment of 5G core networks requires new expertise and special skills sets, which drive demand for consulting, design, implementation, support, maintenance, and managed services.
Cloud mode of deployment is expected to exhibit a higher CAGR during the forecast period.5G core is a cloud-native next-generation virtualized core network architecture. With cloud-based technologies, end users can better leverage the business to the cloud or migrate it to the cloud platform for efficient and continuous service capabilities. The deployment of various cloud-based and 5G on-demand slicing solutions using cloud-native thinking and models is bound to accelerate the digital transformation of the entire communications industry.
APAC is expected to grow at the highest CAGR during the forecast period. The region is transforming dynamically with respect to the adoption of new technologies across various sectors. The infrastructural growth in APAC, especially in Japan, South Korea, Australia, Singapore, China, and India, and the increasing deployment of 4G and 5G networks present huge opportunities for the implementation of the 5G core solution. With the increasing adoption of technologies, such as VR and AR as well as the IoT, the content will become even more data-intensive, which will demand seamless network connectivity and coverage and would present a huge opportunity for the 5G Core Market in the region.
Top Trends in global 5G Core Market:
- Deployment and Expansion: The deployment and enlargement of 5G networks international have been amongst the most widespread trends. Telecommunication corporations and community operators have been aggressively working on rolling out 5G infrastructure to cowl large areas and enlarge community capacity.
- Virtualization and Cloud-Native Architecture: The shift closer to virtualization and cloud-native structure in the 5G core used to be gaining momentum. This allowed for larger flexibility, scalability, and effectivity in managing community sources and services.
- Network Slicing: 5G core science enabled community slicing, which worried dividing the community into a couple of digital networks tailor-made to unique use cases. This allowed operators to provide custom-made offerings to special industries, such as automotive, healthcare, and entertainment.
- Edge Computing: Edge computing was once considered as a necessary enabler for the low-latency and high-bandwidth necessities of 5G applications. By bringing computing sources nearer to the end-users, part computing superior the normal overall performance and person journey of 5G networks.
- IoT Connectivity: With the boom of the Internet of Things (IoT), 5G core networks have been predicted to play a essential position in imparting seamless connectivity for a big quantity of IoT devices, enabling clever cities, industrial automation, and different IoT-driven applications.
- Network Security: As 5G technological know-how expanded, making sure sturdy safety grew to become a pinnacle priority. Network operators and carriers had been targeted on imposing superior protection measures to guard in opposition to achievable cyber threats and vulnerabilities.
- Integration of AI and Automation: The integration of synthetic Genius (AI) and automation in 5G core networks used to be on the rise. AI used to be used for community optimization, predictive maintenance, and real-time analytics, bettering normal community overall performance and efficiency
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Key Industry Development in global 5G Core Market
- Standardization Efforts: Various enterprise our bodies and standardization organizations, such as 3GPP (Third Generation Partnership Project), have been actively working on defining and refining the 5G core standards. Standardization performed a fundamental function in making sure interoperability, compatibility, and world adoption of 5G technology.
- Network Operators' Deployments: Several predominant community operators throughout the globe have been actively deploying 5G networks and upgrading their core infrastructure to guide 5G capabilities. The race to provide 5G offerings drove huge investments in infrastructure and technological know-how upgrades.
- Virtualization and Cloud-Native Architecture: The go in the direction of virtualization and cloud-native structure in the 5G core was once a key enterprise development. By decoupling hardware from software program functions, community operators aimed to reap larger flexibility, scalability, and value efficiency.
- Open RAN (Radio Access Network): Open RAN won momentum as an choice method to usual proprietary RAN solutions. Open RAN aimed to promote seller interoperability, limit deployment costs, and enlarge innovation in the radio get right of entry to area of 5G networks.
·Edge Computing and Multi-Access Edge Computing (MEC): Edge computing emerged as a necessary enabler for low-latency purposes in 5G. Multi-Access Edge Computing (MEC) introduced computing sources nearer to end-users, facilitating quicker information processing and enabling a large vary of revolutionary applications.
·Network Slicing: Network reducing was once a transformative notion in 5G, permitting operators to create a couple of digital networks with awesome traits tailor-made to unique use cases. This improvement opened up new chances for imparting custom-made offerings for a variety of industries and applications.
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