Overview and Scope
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.
Sizing and Forecast
The 5g core market size has grown exponentially in recent years. It will grow from $3.65 billion in 2023 to $6.19 billion in 2024 at a compound annual growth rate (CAGR) of 69.6%. The growth in the historic period can be attributed to increasing mobile data traffic, demand for higher data speeds and low latency, proliferation of internet of things (iot), global standardization efforts, competitive landscape and industry collaboration.
The 5g core market size is expected to see exponential growth in the next few years. It will grow to $58.64 billion in 2028 at a compound annual growth rate (CAGR) of 75.4%. The growth in the forecast period can be attributed to rapid 5g network deployments, growth in enterprise and industrial 5g use cases, increased focus on network security, expansion of private 5g networks, continued evolution of standards. Major trends in the forecast period include network slicing for industry-specific applications, edge computing integration in 5g core networks, open ran (radio access network) adoption, ai and automation for network optimization, security enhancements for 5g networks.
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Segmentation & Regional Insights
The 5g core market covered in this report is segmented –
1) By Component: Solutions, Services
2) By Deployment: Cloud, On-Premises
3) By Network Function: Access and Mobility Management (AMF), Session Management Function (SMF), User Plane Function (UPF), Policy Control Function (PCF), Network Exposure Function (NEF), Network Repository Function (NRF), Unified Data Management (UDM), Authentication Server Function (AUSF), Application Function (AF), Network Slicing Selection Function (NSSF)
4) By End-User: Telecom Operators, Enterprises
Subsegment: Professional Services, Managed Services
Asia-Pacific was the largest region in the 5G core market in 2023. Asia-Pacific is expected to be the fastest-growing region in the global 5G core market report during 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, Africa
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Major Driver Impacting Market Growth
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.
Key Industry Players
Major companies operating in the 5g core market report are Nokia Corporation, Huawei Technologies Co. Ltd., Samsung Electronics Co. Ltd., Cisco Systems Inc., Affirmed Networks Inc., ZTE Corporation, NEC Corporation, Oracle Corporation, Telefonaktiebolaget LM Ericsson, Hewlett Packard Enterprise Company LP, HRMavenir Systems Inc., Druid Software Ltd., IPLOOK Technologies, AT&T Inc., Orange SA, VMware Inc., Athonet, Ciena Corporation, F5 Networks Inc., Altiostar Networks, Parallel Wireless Pvt. Ltd., Reliance Industries Limited, Wind River Systems Inc. (Acquired by TPG Capital), Juniper Networks Inc., Amdocs, Datang Telecom Group, Alpha Networks Inc., Dell Technologies Inc., Bharti Airtel Limited, Rakuten Mobile Inc.
The 5g core market report table of contents includes:
1. Executive Summary
2. 5G Core Market Characteristics
3. 5G Core Market Trends And Strategies
4. 5G Core Market – Macro Economic Scenario
5. Global 5G Core Market Size and Growth
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31. Global 5G Core Market Competitive Benchmarking
32. Global 5G Core Market Competitive Dashboard
33. Key Mergers And Acquisitions In The 5G Core Market
34. 5G Core Market Future Outlook and Potential Analysis
35. Appendix
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