(MENAFN- GlobeNewsWire - Nasdaq) Pune, May 26, 2023 (GLOBE NEWSWIRE) -- Maximize Market Research, a global market research firm has published a competitive intelligence market research report on the“ private 5g network market ”. The Private 5G Network Market size was valued at USD 7.62 Bn in 2022. The total Private 5G Network Market revenue is expected to grow at a CAGR of 47 percent from 2022 to 2029, reaching USD 35.60 Bn during the forecast period.
| Market Size in 2022 || USD 7.62 Bn |
| Market Size in 2029 || USD 35.60 Bn |
| CAGR || 47 percent (2022-2029) |
| Forecast Period || 2022-2029 |
| Base Year || 2021 |
| Number of Pages || 278 |
| No. of Tables || 129 |
| No. of Charts and Figures || 121 |
| Segment Covered || By Industry, Component, Spectrum |
| Regional Scope || North America, Europe, Asia Pacific, Middle East and Africa, South America |
| Report Coverage || Market Share, Size & Forecast by Revenue | 2022−2029, Market Dynamics, Growth Drivers, Restraints, Investment Opportunities, and Key Trends, Competitive Landscape, Key Players Benchmarking, Competitive Analysis, MMR Competition Matrix, Competitive Leadership Mapping, Global Key Players' Market Ranking Analysis. |
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Private 5G Network Market Scope and Research Methodology
The research report on the Private 5G Network Market covers technology, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy, and industry planning analysis. The report discusses the global market's drivers, opportunities, and restraints. It discusses the impact of these drivers, trends, and restraints on market demand during the forecast period. The report also highlights market opportunities on a global scale. The Private 5G Network Market is analyzed at the country, regional, and global levels. The report examines the Private 5G Network Market Strategies, as well as the major players' strategies and investment plans. The data from the Private 5G Network Market was gathered using both primary and secondary research methods. Secondary research is used to identify key players. secondary research was used to gather information for the Market's extensive, market-oriented, and commercial analysis.
Private 5G Network Market Overview
A private or non-public 5G network is a dedicated Local Area Network (LAN) that provides industrial, enterprise, and other customers with enhanced internet connectivity. Next-generation network services are expected to address the need for critical wireless communication for industrial operations, public safety, and critical infrastructure connectivity as they evolve. Furthermore, the global market is being driven by the increasing demand for ultra-reliable low-latency connectivity for Industrial Internet of Things (IIoT) applications such as collaborative robots, industrial cameras, and industrial sensors.
Private 5G Network Market Dynamics
Various key industrial incumbents, such as ABB Ltd., Siemens AG, and Mercedes-Benz AG, have significantly deployed sensor-based technologies and industrial robotics to achieve superior operational efficiency and productivity with the evolution of Industry 4.0. The private 5G network is critical for providing continuous and secure internet connectivity to the aforementioned IIoT devices. Moreover, the demand for Time-Sensitive Networking (TSN) and real-time-based networking is rapidly increasing across industries, including manufacturing, oil and gas, aerospace, and transportation. Thus, the demand for a private 5G network is expected to grow significantly over the forecast period in order to provide high-speed bandwidth connectivity during TSN and real-time networking across industries.
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North America region is expected to fuel the Private 5G Network Market growth
North America held the largest market share of 31.0% in 2022, Because of the presence of various private 5G solution providers, such as Qualcomm Technologies, Inc. Furthermore, the significant increase in investments for deploying private 5G network infrastructure by key service providers such as AT&T Inc. and Verizon Communications is expected to help North America gain a large market share. Furthermore, the robust deployment of numerous industrial sensors by leading automakers such as Ford Motor Company and General Motors Company is expected to create significant growth opportunities in the region.
Private 5G Network Market Segmentation
By Industry Outlook:
Manufacturing Industry Healthcare Industry Energy and Utilities Transport and Logistics Public Sector
Based on the Industry outlook, manufacturing is expected to dominate the Private 5G Network Market during the forecast period. The Private 5G Network has a wide range of applications, including industrial automation, process optimization, and real-time monitoring of machines and equipment, among others. According to the report, the manufacturing industry will account for 46% of the total market for private 5G networks by 2029, accounting for the largest segment for private 5G networks.
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By Component Outlook :
Hardware Software Service
Based on Component Outlook, the Hardware segment is expected to dominate the Private 5G Network Market. Radio access network, core network, and backhaul & transport are all part of the hardware segment. Installation and integration, data services, and support and maintenance are all part of the software segment. The services segment includes private 5G network installation, integration, support, and maintenance. Because of the increasing adoption of private 5G networks in industries such as manufacturing, automotive, and energy & utilities, the hardware segment is expected to hold the largest share of the market.
Private 5G Network Market Key Players Include:
Ericsson (Sweden) Nokia (Finland) Huawei (China) Samsung (South Korea) Cisco (US) NEC Corporation (Japan) ZTE Corporation (China) Mavenir (US) CommScope (US) Athonet (Italy) Verizon (US) Orange (France) Vodafone (UK) Telefónica (Spain) Deutsche Telekom (Germany) AT&T (US) BT Group (UK) Reliance Jio (India) Bharti Airtel (India) Intel Corporation (US) Dell Technologies (US) Juniper Networks (US) HPE (US) IBM (US) Fujitsu (Japan) Infosys (India)
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Key questions answered in the Private 5G Network Market are:
What is the Private 5G Network Market? What was the Private 5G Network Market size in 2021? What is the expected Private 5G Network Market size by 2029? What is the growth rate of the Private 5G Network Market? Which are the factors expected to drive the Private 5G Network Market growth? Which factors are expected to restrain the Private 5G Network Market growth? Which segment dominated the Private 5G Network Market growth? What is the demand pattern for the Private 5G Network Market? Which region held the largest share in the Private 5G Network Market? Who are the key players in the Private 5G Network Market?
Past Market Size and Market Competitiveness (2018 to 2021) Past Pricing and price curve by region (2018 to 2021) Market Size, Share, Size & Forecast by different segment | 2022−2029 Market Dynamics – Growth Drivers, Restraints, Opportunities, Challenges and Key Trends by region Market Segmentation – A detailed analysis by Industry, Component, Spectrum Type Competitive Landscape –A detailed scenario of the competitive environment in the global market
Competitive landscape – Market Leaders, Market Followers, Regional player Competitive benchmarking of key players by region based on product Portfolio, End-Users, Revenues, Manufacturing Locations, etc. Market Consolidations – Mergers, Acquisitions, Joint Ventures, Partnerships. Company Profiles – Business Overview, Financial Overview, Business Strategy, SWOT Analysis, Recent Development. PESTLE Analysis PORTER's analysis Value chain and supply chain analysis Legal Aspects of business by region Key Takeaways Industry Recommendations
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Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology, and communication, cars, and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
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