The 5G Core Global Market Report 2023, provides comprehensive information on the 5G core market across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032.
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As per The Business Research Company’s 5G Core Global Market Report 2023, the global 5G core market size 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 markets across the globe. The global 5G core market size is expected to reach $33.16 billion in 2027 at a CAGR of 73.58%.
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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.
The 5G core market is segmented:
1) By Component: Solutions, Services
2) By Solutions: Professional Services, Managed Services
3) By Deployment: Cloud, On-Premises
4) 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)
5) By End-User: Telecom Operators, Enterprises
Asia-Pacific was the largest region in the 5G core market in 2022.
The table of contents in TBRC’s 5G core market report includes:
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The Business Research Company is a market intelligence firm that pioneers in market, company, and consumer research. TBRC’s specialist consultants are located globally and are experts in a wide range of industries that include healthcare, manufacturing, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries. Through the report businesses can gain a thorough understanding of the market’s size, growth rate, major drivers and leading players.
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