Dublin, Oct. 05, 2023 (GLOBE NEWSWIRE) -- The "Private 5G Market by Component (Base Station, Radio Access Network, Core Network, Antennas, Software-Defined Network, Network Management, Network Security), Spectrum (Licensed, Shared), Services, Frequency Band, Deployment Mode - Global Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.
The global private 5G market is expected to be valued at USD 2.0 billion in 2023 and is projected to reach USD 11.8 billion by 2028; it is expected to grow at a CAGR of 42.3% from 2023 to 2028
The report encompasses comprehensive insights into the private 5G market, delving into critical factors such as drivers, constraints, challenges, and opportunities shaping its growth trajectory.
It offers an in-depth analysis of major industry players, furnishing details about their business profiles, product portfolios, strategic initiatives, including contracts, partnerships, agreements, new product and service launches, mergers and acquisitions, as well as recent developments within the private 5G market.
Europe's industrial landscape and businesses are currently undergoing significant digital transformation endeavors. Private 5G networks are pivotal in facilitating this transformation by delivering the essential connectivity required to support advanced technologies like IoT, automation, and data analytics.
With a robust manufacturing base and leadership in Industry 4.0 initiatives, Europe relies on private 5G networks to drive smart manufacturing, optimize processes, and seamlessly integrate robotics and automation across diverse industrial sectors. The increasing deployment of IoT devices and the evolution of smart cities have heightened the demand for dependable, high-speed connectivity. Private 5G networks provide the indispensable infrastructure to underpin these applications, enhancing efficiency, sustainability, and overall quality of life.
The widespread integration of IoT devices across various industries necessitates a connectivity solution capable of meeting the requirements for reliable, low-latency, and high-bandwidth communication. Private 5G networks offer the foundational infrastructure to support the extensive proliferation of IoT devices, enabling businesses to harness the full potential of IoT for enhanced operational efficiency, data-driven insights, and fostering innovation.
Key players in the private 5G market landscape include industry leaders such as Huawei Technologies Co., Ltd. (China), Telefonaktiebolaget LM Ericsson (Sweden), Nokia (Finland), Samsung Electronics Co., Ltd. (South Korea), and ZTE Corporation (China).
Additionally, the report provides a competitive analysis encompassing emerging startups within the private 5G market ecosystem.
Software component segment to account for second highest CAGR of private 5G market.
Software components allow Private 5G networks to adapt quickly to changing requirements and conditions. This agility is essential for industries that need to rapidly deploy and reconfigure network services to accommodate varying demands and use cases. Software components play a vital role in implementing robust security measures within Private 5G networks.
They enable features such as encryption, authentication, and access control, ensuring data privacy and network integrity. The growth of the software component in the Private 5G market is driven by its ability to provide customization, agility, innovation, security, and cost-efficiency.
Manufacturing vertical to account for the second largest market share of the private 5G market.
The manufacturing sector is undergoing a significant transformation with Industry 4.0, which emphasizes automation, data exchange, and IoT integration. Private 5G networks provide the high-speed, low-latency connectivity required to implement these advanced technologies and optimize manufacturing processes.
The growth of the Private 5G market in the manufacturing vertical is driven by the need for advanced connectivity solutions to support IoT integration, smart manufacturing, automation, and other transformative technologies. Private 5G networks enable manufacturers to optimize their operations, enhance product quality, and remain competitive in an increasingly digital and interconnected manufacturing landscape.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 248 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value (USD) in 2023 | $2 Billion |
| Forecasted Market Value (USD) by 2028 | $11.8 Billion |
| Compound Annual Growth Rate | 42.3% |
| Regions Covered | Global |
Premium Insights
- Technological Advancements and Industry-Specific Needs to Favor Market Growth
- US and Mmwave Segments to Hold Largest Share of North American Private 5G Market in 2023
- China to Capture Largest Share of Private 5G Market in Asia-Pacific During Forecast Period
- Private 5G Market in China to Exhibit Highest CAGR from 2023 to 2028
Use Cases in Private 5G Market
Internet of Things (IoT)
- Private 5G Networks Provide High-Speed, Low-Latency, and Reliable Connectivity Required to Connect IoT Devices
- Case Study: Bosch and Nokia Collaborated to Establish Private 5G Network Within Bosch's Smart Factory
Sports Analytics
- Private 5G Drives Innovation in Sports-Related Technologies
- Xfinity Centre Enhanced Overall Viewing Experience with Deployment of Private 5G Network
Augmented Reality (Ar)/Virtual Reality (Vr)
- Private 5G Enables Wide Range of Applications Within Ar/Vr
- Case Study: Korean Broadcasting System (KBS) and Sk Telecom Deployed a Private 5G Network at KBS Suwon Center
Smart Infrastructure
- Private 5G Networks Help Collect Real-Time Data from Sensors, Devices, and Equipment Embedded in Smart Infrastructure
- Case Study: Barcelona Implemented Private 5G Network as Part of Smart City Initiatives
Others
- Case Study: Agco and Ericsson Deployed Private 5G Network on Brazilian Farm to Enhance Agriculture Operations
Market Dynamics
Drivers
- Emergence of Industry 4.0
- Increasing Demand for Internet of Things (IoT)
- Rising Adoption of Cloud Computing
- Intensifying Need for Security and Privacy in Enterprise Networks
Restraints
- Lack of Standardization Guidelines
- Limited Availability of Spectrum
Opportunities
- Increasing Demand for High-Performance Applications
- Growing Adoption of Private 5G Networks for Remote Monitoring and Surveillance
- Increasing Interest Among Enterprises to Deploy Private 5G Networks
Challenges
- Need for Substantial Upfront Investment
- Integration with Legacy Systems
Case Study Analysis
- Siemens and Nokia Collaborated to Test Suitability of Private 5G Networks for Industrial Automation
- Bosch and Ericsson Collaborated to Deploy Private 5G Network
- Walmart and Verizon Collaborated to Explore Potential of Private 5G Networks in Retail
- Harbour Air Enhanced Aviation Operations with Private 5G Network
- Lufthansa Technik Partnered with Nokia to Deploy Private 5G Network at Its Facility
Technology Analysis
- Key Technologies
- Network Slicing
- Edge Computing
- Massive Multiple-Input Multiple-Output (MIMO)
- Mmwave
- Complementary Technologies
- Internet of Things (IoT)
- Artificial Intelligence (AI) and Machine Learning (ML)
- Big Data Analytics
- Adjacent Technologies
- Cloud Computing
- Robotics and Automation
- Cybersecurity Solutions
- Virtual Reality (Vr) and Augmented Reality (AR)
Company Profiles
Key Players
- Huawei Technologies Co., Ltd.
- Telefonaktiebolaget Lm Ericsson
- Nokia
- Samsung
- Zte Corporation
- Nec Corporation
- Oracle
- Cisco Systems, Inc.
- Ciena Corporation
- Juniper Networks, Inc.
Other Players
- Hewlett Packard Enterprise Development Lp
- Affirmed Networks
- Mavenir
- Celona Inc.
- Airspan Networks
- Commscope
- Vmware, Inc.
- Extreme Networks
- Comba Telecom Systems Holdings Ltd.
- Deutsche Telekom Ag
- Fujitsu
- Verizon
- At&T
- Sk Telecom Co., Ltd.
- Dell Inc.
For more information about this report visit https://www.researchandmarkets.com/r/f045le
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Attachment
