Richmond, Dec. 11, 2023 (GLOBE NEWSWIRE) -- According to a research report "Private 5G Market”, By Component (Hardware {Radio Access Network, Core Network and Backhaul & Transport}, Software, Services {Installation & Integration, Data Services and Support & Maintenance}), Frequency (Sub-6 GHz, mmWave), Spectrum (Licensed, Unlicensed/Shared), End-use Vertical (BFSI, Manufacturing, Energy & Utilities, Retail & E-commerce, Healthcare, Infrastructure, Transportation & Logistics, Aerospace & Defense, Media & Entertainment, IT & Telecommunication and others) and Region - Global Forecast to 2030.
Global Private 5G Market Report Scope:
| Report | Details |
| Market size value in 2023 | USD 2.26 Billion |
| Market size value in 2030 | USD 24.23 Billion |
| CAGR (2023-2030) | 40.34% |
| Forecast Period | 2023–2030 |
| Historic Data | 2019 |
| Forecast Units | Value (USD Million/USD Billion) |
| Segments Covered | Frequency, Component, Spectrum, End-use Vertical and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and RoW |
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| Sample of Companies Covered |
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TOC Covers in Depth & Breath on Private 5G Market
170 - Market Data Tables
65 - List of Figures
225 – Pages
The report includes Vendor Assessment (Company Profiles, Market Positioning, Strategies, Recent Developments, Capabilities & Product Offerings / Mapping), Technology Assessment (Developments & Economic Impact), Partner & Customer Ecosystem (Product Services, Proposition & Key Features) Competitive Index & Regional FootPrint by MarketDigits.
Market Overview
The Private 5G market is currently experiencing robust growth and significant attention as organizations across various industries increasingly recognize the transformative potential of dedicated, high-performance wireless networks. Fueled by the demand for reliable and low-latency connectivity, Private 5G networks are emerging as a key enabler for a wide range of applications, from industrial automation and smart manufacturing to healthcare, logistics, and beyond. These networks offer businesses the ability to deploy customized, secure, and scalable communication infrastructures, tailored to their specific operational needs. As the adoption of Internet of Things (IoT) devices and edge computing accelerates, Private 5G provides a foundation for seamless connectivity, enabling efficient data exchange and unlocking new possibilities for innovation and productivity. With the promise of enhanced reliability, increased bandwidth, and improved network management, the Private 5G market is poised for continued expansion as organizations seek advanced connectivity solutions to propel their digital transformation strategies.
Major Vendors in the Global Private 5G Market:
- 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
- Vodafone Ltd.
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Emergence of Industry 4.0
The emergence of Industry 4.0, characterized by the integration of digital technologies, automation, and data exchange in manufacturing processes, has significantly propelled the growth of the Private 5G market. Industry 4.0 relies heavily on real-time data processing, high-speed connectivity, and low-latency communication between machines and devices, which traditional networks often struggle to provide. Private 5G networks offer a solution by providing dedicated, secure, and high-performance wireless communication tailored to the specific needs of Industry 4.0 applications. These networks enable seamless connectivity for a multitude of devices, including sensors, robots, and other IoT devices, fostering efficient and agile industrial operations. The reliability, low latency, and high bandwidth capabilities of Private 5G networks make them a crucial enabler for the advanced technologies central to Industry 4.0, driving the demand for such networks in the industrial landscape.
Market Dynamics
Drivers:
- Improving Operational Efficiency
- Growing demand for High-speed connectivity.
Opportunities:
- Increasing Remote Monitoring and Surveillance
- Developing new business models.
Growing demand for dedicated bandwidth and guaranteed QoS
A notable trend driving the Private 5G market is the growing demand for dedicated bandwidth and guaranteed Quality of Service (QoS). As industries increasingly rely on bandwidth-intensive applications, such as real-time data analytics, augmented reality, and mission-critical IoT deployments, organizations seek dedicated and reliable communication infrastructures. Private 5G networks address this need by offering exclusive spectrum allocations, ensuring businesses have a dedicated and interference-free bandwidth that can be customized according to specific requirements. Moreover, the guaranteed Quality of Service in Private 5G networks ensures consistent low latency, high reliability, and efficient data transmission, crucial for applications where real-time responsiveness is paramount. This trend reflects a strategic shift towards prioritizing network performance and reliability, making Private 5G an appealing choice for enterprises seeking to optimize their connectivity for a wide array of mission-critical and latency-sensitive applications.
Asia-Pacific dominates the market for Private 5G Market.
The Asia-Pacific (APAC) region stands out as the dominating region in the global Private 5G Market. The Asia Pacific region, renowned as a global manufacturing hub, particularly excelling in industries like automotive, electronics, and textiles, is experiencing a significant impact from the integration of Private 5G networks. These networks are playing a crucial role in fostering smart manufacturing, optimizing processes, and automating operations within these key sectors. With a surge in the adoption of IoT devices and the development of smart cities across the region, Private 5G networks are proving instrumental in meeting the substantial connectivity demands of IoT applications. Additionally, they facilitate the seamless integration of various smart city technologies. Governments in the Asia Pacific are proactively endorsing advanced technologies, with supportive policies, substantial investments in digital infrastructure, and spectrum allocation specifically for Private 5G networks, collectively contributing to the substantial growth of the market in the region.
Sub-6 GHz Segments is anticipated to hold the Largest Market Share during the Forecast Period
Based on the Frequency segment categorized into Sub-6 GHz and mmWave. Sub-6 GHz has major share in the private 5G market. The Sub-6 GHz frequency band stands out for its superior coverage and signal propagation attributes when compared to higher frequency bands like mmWave. This makes it particularly well-suited for delivering connectivity across expansive areas, encompassing outdoor spaces, campuses, and industrial sites. Industries such as manufacturing, logistics, and agriculture find value in the extended coverage and penetration capabilities offered by Sub-6 GHz frequencies. Given the demands of these sectors for extensive IoT deployments and wireless communication essential for automation and remote monitoring, the characteristics of Sub-6 GHz frequencies prove beneficial. Regulatory bodies in numerous regions actively designate spectrum within the Sub-6 GHz frequency band for private and enterprise use, a move that not only fosters the expansion of Private 5G networks but also supports a diverse range of applications in these industries.
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