New York, June 15, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "5G Core Global Market Report 2023" - https://www.reportlinker.com/p06466574/?utm_source=GNW
, Druid Software Ltd, IPLOOK Technologies, AT&T Inc., and Orange Business Services.
The global 5G core market is expected to grow from $2.23 billion in 2022 to $3.65 billion in 2023 at a compound annual growth rate (CAGR) of 63.94%.The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, and affecting many every markets across the globe. The market is expected to reach $33.16 billion in 2027 at a CAGR of 73.58%.
The 5G core market includes revenues earned by entities through services such as service-based architecture and cloud-based architecture.The market value includes the value of related goods sold by the service provider or included within the service offering.
Only goods and services traded between entities or sold to end consumers are included.
The 5G core is the 5G network’s central component that is responsible for managing data and controlling plane activities. It facilitates secure and dependable network connectivity for end-users and grants them access to network services.
Asia-Pacific was the largest region in the 5G core market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in the 5G core market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main components of the 5G core include solutions and services.In the context of network operations, services are applications or functions that assist in establishing connections among users, applications, and data within a network.
The various solutions included are professional services and managed services deployed over cloud and on-premise. The various network functions include AMF, SMF, UPF, PCF, NEF, UDM, AUSF, AF and NSSF that are used by telecom operators and enterprises.
The explosion of data traffic is expected to propel the growth of the 5G core market moving forward.Data traffic referred to as network traffic pertains to the volume of data that is being transmitted through a network at a particular point in time.
Utilizing 5G Core for data traffic management offers various advantages such as enhanced network capabilities, service exposure, and traffic steering features.These benefits offer additional tools for optimizing traffic management and achieving efficient data traffic handling.
For instance, according to a report published by Telefonaktiebolaget LM Ericsson, a Sweden-based provider of IT services, worldwide mobile data traffic hit roughly 90 EB per month in 2022 and is estimated to surge by nearly four times, reaching 325 EB per month by 2028. Therefore, the explosion of data traffic demands increased utilization of the 5G core.
Technological advancements are key trends gaining popularity in the 5G core market.Companies operating in the 5G core market are adopting new technologies to sustain their position in the market.
For instance, in November 2022, Nokia Corporation, a Finland-based global leading telecommunication service provider introduced a software-as-a-service (SaaS) alternative for its enterprise customers who want an easier way to deploy the 5G standalone (SA) core network, alongside its existing offerings.Through a subscription service, the company provides 5G Core SaaS on-demand, removing the need for an upfront cost and the responsibility of managing software maintenance and updates through an operator.
Nokia Core SaaS is the market’s first complete 5G core solution, delivering all key cloud-native network services via a SaaS delivery paradigm.
For instance, in February 2023, Hewlett Packard Enterprise, a US-based global leader of IT services, acquired Athonet srl.The acquisition of Athonet’s technology will enable HPE to supply private networking capabilities directly to enterprises as part of its Aruba networking portfolio, as well as enable communications service providers (CSPs) to quickly establish private 5G networks for their clients.
Athonet srl is an Italy-based telecommunication service provider.
The countries covered in the 5G core market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The 5G core market research report is one of a series of new reports that provides 5G core optical components market statistics, including 5G core optical components industry global market size, regional shares, competitors with a 5G core optical components market share, detailed 5G core optical components market segments, market trends and opportunities, and any further data you may need to thrive in the 5G core optical components industry. This 5G core optical components market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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