Chicago, Sept. 12, 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. The Private 5G market is growing due to its ability to offer secure, high-speed, and customized connectivity solutions tailored to specific industries. With advantages like low latency, improved IoT integration, and optimized operations, businesses are adopting Private 5G networks to enhance efficiency, automation, and real-time decision-making, driving growth in various sectors and enabling digital transformation.
Scope of the Report Private 5G Market
| Report Metric | Details |
| Estimated Value | USD 2.0 billion in 2023 |
| Projected Value | USD 11.8 billion by 2028 |
| Growth Rate | 42.3% |
| Market size available for years | 2019-2028 |
| Base year considered | 2022 |
| Forecast period | 2023-2028 |
| Forecast units | Value (USD Million) |
| Segments covered | By Component, By Frequency Band, By Spectrum, By Organization Size, By Deployment Type, By Use Case, and By Vertical |
| Geographies covered | North America, Europe, Asia Pacific, and RoW |
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Huawei Technologies Co., Ltd. (China)
Huawei, a Chinese multinational technology company, has been a prominent player in the global telecommunications industry. The company has been actively involved in developing and deploying 5G technology, including in the private 5G market. Huawei has been known for its expertise in telecommunications infrastructure, and this extends to private 5G networks. The company offers end-to-end solutions, including radio access networks, core networks, and management systems, tailored to the needs of various industries. It has targeted a range of vertical industries for private 5G deployments, including manufacturing, energy, transportation, healthcare, and more. Huawei's global presence allowed the company to offer private 5G solutions to customers around the world. The company's extensive experience in deploying telecommunications infrastructure has also contributed to its reputation in this space.
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Telefonaktiebolaget LM Ericsson (Sweden)
Ericsson, a Swedish multinational networking and telecommunications company, has been actively involved in the development and deployment of 5G technology, including in the private 5G market. It offers a range of private 5G solutions tailored to different industries, including manufacturing, logistics, utilities, transportation, and more. The company provides end-to-end solutions that cover radio access, core networks, and management systems to enable enterprises to build and operate their own private 5G networks. Ericsson focuses on providing private 5G networks that support industrial automation and digital transformation for enterprises. These networks can enable real-time communication, enhance operational efficiency, and enable the deployment of IoT and AI-driven applications.
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Private 5G market dynamics
Driver: Increasing demand for IoT
With private 5G networks, cities can ensure reliable communication and interconnectivity between various IoT devices, enabling seamless data exchange and better decision-making to improve urban life. IoT devices play a vital role in energy management, enabling utilities and businesses to monitor and control energy consumption in real-time. For instance, private 5G networks can facilitate smart grid management, allowing utilities to efficiently balance supply and demand and integrate renewable energy sources.
Restraint: Lack of standardization
Private 5G networks, especially those deployed in shared spectrum bands, need to coexist, and manage interference with other wireless technologies effectively. Without standardized interference management guidelines, network performance and user experience can be adversely affected. Without standardized specifications, the private 5G ecosystem becomes fragmented, with various vendors offering proprietary solutions.
Opportunity: Remote monitoring and surveillance
Remote monitoring and surveillance often take place in locations with limited or no access to reliable public networks. Private 5G networks can be deployed in these areas to provide high-speed and robust connectivity, enabling continuous data transmission from remote sensors, cameras, and devices. Private 5G networks offer low-latency communication, allowing real-time data transmission from surveillance cameras, sensors, and other monitoring devices.
Challenge: Integration with Legacy Systems
Many enterprises have invested heavily in their current communication technologies, such as wired networks, Wi-Fi, and older cellular systems. When adopting private 5G networks, they need to ensure a seamless integration of the new infrastructure with their legacy systems. Legacy systems often use older communicayion protocols and technologies that may not be inherently compatible with the new 5G standard. Integration requires careful consideration of compatibility issues, ensuring that data can be exchanged between the legacy systems and the private 5G network without disruption.
Private 5g Market Ecosystem
The private 5G market is dominated by established and financially sound manufacturers with extensive experience in the industry. These companies have diversified product portfolios, cutting-edge technologies, and strong global sales and marketing networks. Leading players in the market include Huawei Technologies Co., Ltd. from China, Telefonaktiebolaget LM Ericsson from Sweden, Nokia from Finland, Samsung Electronics Co., Ltd. from South Korea, ZTE Corporation from China.
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