Rising implementation of highly secured 5G network infrastructure across several industrial use cases along with rising investments to implement private 5G network infrastructure to drive for the Global Private 5G Network Market during the forecast period.
According to TechSci Research report, “Private 5G Network Market – Global Industry Size, Share, Trends, Opportunity, and Forecast. 2018–2028, the Global Private 5G Network Market is anticipated to register a robust growth during the forecast period, 2024-2028.”
The Global Private 5G Network Market is expected to grow with the rising pace of building smart cities in several countries such as US,, China, India, etc. Moreover, surge in IoT devices’ deployment for several applications, including transport, public safety, security, energy management, and so on is also likely to contribute to market growth. Therefore, the demand for private networks in the countries is expected to increase from the businesses that highly utilize the IoT ecosystem.
Additionally, by 2025, 5G technology will support as much as USD 3.65 trillion worth of products and services in industries such as retail, healthcare, education, transportation, and entertainment, potentially sprouting new cottage industries driven by start-ups and small businesses, which also effects the growth of Global Private 5G Network Market in the forthcoming period.
Many businesses in the automotive, manufacturing and logistics sectors are supporting the establishment of private 5G networks mostly in countries like United States. Small- and medium-sized firms are still very slowly adopting 5G network. In order to utilize private networks, businesses in outlying locations and low-income markets must overcome obstacles such as limited financial resources and the availability of alternative networks. Many small- and medium-sized businesses in the US are unable to make the significant capital investments necessary to create a reliable private connection infrastructure, which is expected to pose difficulties for the market’s steady expansion.
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Global Private 5G Network Market is segmented into component, frequency, spectrum, industry vertical, region and competitive landscape. Based on the spectrum, the global private 5G network market has been segmented into licensed and unlicensed. The unlicensed spectrum segment is expected to dominate the global market during the forecast period. Unlicensed spectrum can lead to increased proliferation of 4G and 5G worldwide. Moreover, groups of new entrants are expanding the market for hybrid networks, primarily in partnerships with hyperscalers, public telecom operators, and technology companies, and are taking advantage of technological advances, such as the advent of choice of Wi-Fi 6 technologies, to take advantage of wider coverage with from the unlicensed spectrum.
Based on frequency, the private 5G network market has been segmented into mmWave and Sub-6 GHz. Due to the reduced frequency range, speed limitations, and longer range that make the Sub-6 GHz segment more suitable for usage in practical applications, this market segment is predicted to dominate the entire world. The older 4G-like frequencies used by Sub-6 GHz produce better coverage. This is the fundamental justification for why manufacturers of chips and smartphone brands typically provide compatibility for both or Sub-6 GHz networks in their chips and devices.
Major market players operating in the Global Private 5G Network Market are:
- Telefonaktiebolaget LM Ericsson
- Nokia Corp.
- Samsung Electronics Co., Ltd.
- ZTE Corp.
- Deutsche Telekom AG
- Juniper Networks Inc
- AT&T Inc.
- Verizon Communications Inc.
- Altiostar Networks India Private Limited
- Huawei Technologies Co., Ltd.
- HRMavenir Systems, Inc.
- BT Group plc
- T-Systems International GmbH
- Cisco Systems, Inc.
- Vodafone Ltd.
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“The fifth generation of cellular wireless technology, or 5G, aims to boost network capacity, speed up data transfer between connected devices, and lower latency. Along with workplace Wi-Fi networks and current public mobile network services, businesses can use 5G to improve their operations even though the widespread adoption of autonomous vehicles and drones is still a way offi. Other industries where it can be used include higher education, manufacturing, and healthcare. Therefore, due to its widespread acceptance across numerous industries the global Private 5G Network Market is expected to grow in the forecast period.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
“Private 5G Network Market – Global Industry Size, Share, Trends, Opportunity, and Forecast 2018-2028 Segmented By Component (Hardware, Software, Services), By Frequency (Sub-6 GHz, mmWave), By Spectrum (Licensed, Unlicensed), By Industry Vertical (Manufacturing/Factories, Energy & Utilities, Transportation & Logistics, Defense, Enterprises & Campus, Mining, Healthcare/Hospitals, Oil & Gas, Retail, Agriculture, Smart Cities, Others), By Region,” has evaluated the future growth potential of Global Private 5G Network Market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Global Private 5G Network Market.
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