5G Enterprise Private Network Market To Reach $70.4 Billion, Globally, By 2032 At 49.4% CAGR: Allied Market Research

NEW CASTLE, Delaware, Oct. 10, 2024 (GLOBE NEWSWIRE) -- Allied Market Research published a report, titled, "5G Enterprise Private Network Market by Component (Hardware, Software and Services), Frequency band (Sub-6 GHz and mmWave), Organization Size (Large Enterprises and Small and Medium-sized Enterprises), and Industry Vertical (BFSI, Manufacturing, Energy & Utilities, Retail, Government, Public Safety, Office Building and Others): Global Opportunity Analysis and Industry Forecast, 2024-2032". According to the report, the 5g enterprise private network market was valued at $1.9 billion in 2023, and is estimated to reach $70.4 billion by 2032, growing at a CAGR of 49.4% from 2024 to 2032.

Prime determinants of growth

The global 5G enterprise private network market is growing due to several factors such as the development of wireless networking technologies, and the emergence of the industry 4.0 are some of the main factors anticipated to propel the growth of the market. However, the privacy and security concerns act as a restraint for the 5G enterprise private network market. In addition, the growing adoption of private 5G networks will provide ample opportunities for the market's development during the forecast period.

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The hardware segment held the highest market share in 2023

Based on the component, the hardware segment held the highest market share in 2023. The dominance of this segment can be attributed to the expanded global deployment of backhaul, transport, and core network infrastructure. This in turn expected to propel the growth of this segment in the global market.

The sub-6 GHz segment held the highest market share in 2023

Based on the frequency band, the sub-6 GHz segment held the highest market share in 2023. Sub-6 GHz has a restricted speed range and a reduced frequency range of around 1 GHz to 6 GHz. However, its greater availability makes it more appropriate for implementation, particularly in private 5G networks where businesses require coverage across a broad region.

The large enterprises segment held the highest market share in 2023

Based on the organization size, the large enterprises segment held the highest market share in 2023. This is attributed to an increase in the adoption of 5G enterprise private network technology by businesses to gain strategic and a competitive advantage over their competitors. Customers use the 5G enterprise private network to discover new insights on large-scale diverse data, including historical and recent data. This technology is suitable for the collection of data and running algorithms and analysis across a large set of data to find relevant relationships, entities, and insights.

The manufacturing segment held the highest market share in 2023

Based on the industry vertical, the manufacturing segment held the highest market share in 2023. The growth is attributed to the high demand for private 5G services to provide seamless connectivity to several devices, such as Ultra-HD cameras, extended reality headsets, and Automated Guided Vehicle Systems (AGVs) .

North America held the highest market share in 2023

Based on region, North America held the highest market share in terms of revenue in 2023 and is expected to boost in terms of revenue throughout the forecast period. This demand can be attributed to the rising need for internet services to address the increasing adoption of digital technologies in several sectors. Individuals are choosing digital services to improve their knowledge and skills.

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Major Industry Players: -

• Nokia Corporation

• Vodafone Ltd.

• Samsung

• ZTE Corp.

• Huawei Technology Co. Ltd.

• Verizon Communications

• Deutsche Telekom

• Jupiter Networks

• A&T Inc.

• Cisco System Inc.

The report provides a detailed analysis of these key players in the global 5G enterprise private network market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.

Recent Industry Development:

• On March 2024, Ericsson collaborated with Telia, to establish the enterprise 5G private network in the Baltic region. This development in Estonia enhances business operations, drives innovation, and streamlines the introduction of new products.

• On February 2024, AWS's collaborated with Intel, to help customers accelerate private network deployments across many vertical markets. AWS customers can access end-to-end Amdocs Mobile Private Network (MPN) services, and the infrastructure, built on AWS Outposts servers, is powered by Intel Xeon processors.

• On March 2023, Cisco partnered with NTT, to work on private 5G services across automotive, logistics, healthcare, retail, and public sectors. The companies offer the services to enterprise customers in order to“rapidly enable critical Industry 4.0 capabilities

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports Insights" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies, and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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