Private 5G Network Market Size, Share & Growth Report | 2031

Report Description

Private 5G Network Market Outlook 2031

The global private 5G network market size was valued USD 2.38 Billion in 2022 and is estimated to reach USD 47.92 by 2031, expanding at a CAGR of 39.6% during the forecast period, 2023–2031. The growth of the market is attributed to rising penetration of high-speed Internet.

A private 5G network market is related to local area network (LAN) that delivers Internet connectivity to industrial, enterprise, and other customers. The next-generation network services are expected to address the requirement for critical wireless communication for industrial operations, public safety, and critical infrastructure.

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The private 5G network plays an integral role in delivering ideal and assured Internet connections to the Industrial Internet of Things (IIoT) devices. The values for time-sensitive networking and real-time-based networking is rapidly growing for several mission-critical applications across many industries, including manufacturing, oil & gas, aerospace, and transportation.

The Covid-19 pandemic delayed the deployment of improved private 5G infrastructure owing to the slow down in issuing further trials and testing requirement for confirming the stability and processing performance of 5G disconnected networks. The continuous pandemic has had an extra impact on telecom regulatory control across the globe, postponing their plans of the 5G spectrum trade, thereby negatively influencing the market growth.

Private 5G Network Market Trends, Drivers, Restraints, and Opportunities

• Increasing requirement for ultra-reliable low-latency connection for (IIoT) applications, including collaborative robots, industrial cameras, and industrial sensors is anticipated to drive the market growth.
• Rising requirement for private 5G networks from many business and government organizations for mission-critical applications is expected to fuel the market growth.
• High cost of infrastructure and huge capital investment can restrain the growth of the market.
• Rising act on Wi-Fi communication technology by project and bond secure in 5G core network can spur the growth of the market.

Scope of Private 5G Network Market Report

The report on the global private 5G network market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Private 5G Network Market Segment Insights

Based on components, the market is divided into hardware, software, and services. The hardware segment is further segmented into radio access, core, and backhaul & transport. The services segment is divided into installation & integration, data services, and support & maintenance.

The hardware segment is expected to grow at a rapid pace during the forecast period due to increasing value for better connectivity to connect millions of the sensors at industrial postulate. However, the services segment is anticipated to hold a key share of the market in the coming years owing to rising focus on increasing the installation of hardware and provide integrated services.

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On the basis of frequency, the market is segregated into sub6ghz and mmWave. The mmWave segment is projected to expand at a considerable CAGR during the forecast period. Rising focus on the release of Mmwave in key association with governments is anticipated to augment the segment growth.

Based on spectrum, the global private 5G network market is divided into licensed and unlicensed/shared. The licensed segment is expected to grow at a rapid pace during the forecast period. Various industry players are licensing their spectrum to expand their share in various regions.

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On the basis of verticals, the market is segregated into manufacturing, energy & utilities, transportation & logistics, defense, enterprises & campus, mining, healthcare/hospitals, oil & gas, retail, agriculture, smart cities, and others. The manufacturing segment is further segregated into food & beverages, automotive, pharmaceuticals, electrical & electronics, heavy machinery, clothing & accessories, and others.

The manufacturing segment is projected to expand at a considerable CAGR during the forecast period on the other hand, the energy & utilities segment is anticipated to account for a major market share during the forecast period owing to increasing use of secured private network to get high speed network for energy distribution applications.

In terms of regions, the Global Private 5G Network Market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is expected to constitute a key share of the market during the projected period due to presence of several companies along with significant investments in building automated factories in the region.

Moreover, increasing requirement for ultra-reliable bandwidth low latency connectivity across verticals, including public safety, oil & gas, and aerospace & defense, in the region.

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