Fort Collins, Colorado, Sept. 05, 2023 (GLOBE NEWSWIRE) -- DataHorizzon Research Published a report titled, "Private 5G Network Market Size, Share, Growth, Trends, Statistics Analysis Report, By Component (Hardware, Software & Services), By Frequency (Sub 6 GHZ, mm-Wave), By Network Spectrum, By Industry (Manufacturing, Energy Utilities, Logistics & Transportation, Aerospace & Defense) By Region, And Segment Forecasts, 2023-2032."
According to DataHorizzon Research, the private 5G network market size was valued at USD 2.6 Billion in 2022 and is expected to reach a market size of USD 129.6 Billion by 2032 with a CAGR of 48.2%. A private 5G network is a non-public mobile network that uses licensed, unlicensed, or shared spectrum. The telecom industry in several countries is expected to witness more success with the effective deployment of 5G in the forthcoming years.
The private 5G network market growth is also induced by an increase in the use of Internet-of-Things (IoT) devices and the growing demand for efficient systems to handle the growing volumes of data. The 5G networks have received a wider reception in countries such as China, Singapore, Japan, and others. Also, the implementation of 5G overcomes the limitations related to bandwidth, such as latency, lack of coverage, and low transmission.
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Report Snapshot:
| Report Title | Private 5G Network Market |
| Market Size in 2022 | USD 2.6 Billion |
| Market Size by 2032 | USD 129.6 Billion |
| CAGR from 2023 to 2032 | 48.2% |
| Forecast Period | 2023 to 2032 |
| Historic Period | 2021 |
| Base Year | 2022 |
| Report Scope & Coverage | Market Size, Market Estimations, Competitor Analysis, Trends, and Growth Factors |
| By Component | Hardware, Software & Services |
| By Frequency | Sub 6 GHZ, mm Wave |
| By Network Spectrum | Licensed, Unlicensed |
| By Industry | Manufacturing, Energy Utilities, Logistics & Transportation, Aerospace & Defense, Healthcare, Mining, Oil & Gas, Others |
| Region | North America, Europe, Asia-Pacific, Latin America, and Middle-East & Africa. |
| Countries Covered | U.S.A, Canada, U.K., Germany, France, China, Japan, India, Brazil, Mexico, UAE, Saudi Arabia, and South Africa, among Picocell |
| Major Market Players | Nokia. Samsung, Cisco, Huawei, ZTE, Fujitsu, NEC Corporation, Sterlite, Radisys, Ericcson, Blinq Network and others |
Segmentation Overview:
The global private 5G network market has been segmented into component, frequency, network spectrum, and region. Hardware is the leading component attributing to the need for hardware for devices. It is also projected that the segment is expected to witness robust growth in the forthcoming years.
Asia Pacific is the leading market for private 5G networks owing to the high investments in technology and the availability of 5G infrastructure markets. The presence of well-established IT and network providers is expected to catalyze market developments in the Asia Pacific. North America is projected to witness a healthy expansion in the forthcoming years.
Key Developments in the Industry:
- In 2020, Fujitsu became the first company to obtain a private 5G network license in Japan. It also began operating a security system, which realizes the high-speed transmission of high-definition images gathered by multiple cameras and the operation of a security system to detect suspicious behavior based on video analysis. In 2021, Fujitsu started its commercial operation of a private 5G system at Oyama Plant, Japan to facilitate on-site operations and remote assistance.
- To emphasize on private 5G and the wide area coverage of public 5G, Fujitsu and NTT Docomo initiated a field trial of hybrid 5G. This enables private and public 5G to design an end-to-end enterprise 5G in the supply chain industry. In 2022, Softbank and KDDI collaborated to provide public 5G resources to design an Enterprise 5G.
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Private 5G Network Market Report Highlights:
- The global private 5G network market size is projected to reach USD 129.6 billion at a CAGR of 48.2% by 2032.
- The emergence of smart city projects and the need for high network bandwidth are some of the prominent factors for market growth.
- Artificial intelligence catalyzes market development as several industries embrace automation and machine learning in their systems.
- Based on component, the hardware segment dominated with a large market share in 2022 due to high technological adoption.
- Based on frequency, the sub 6GHz is dominant, attributing to the adoption of high-end network frequencies in several countries.
- The unlicensed segment remains dominant due to the growing requirement of 5G networks at affordable costs
- Asia Pacific is the most dominating market with the growing significance of 5G networks and breakthroughs in several Asian countries.
- Some of the prominent players in the private 5G network market include Nokia, Samsung, Cisco, Huawei, ZTE, Fujitsu, NEC Corporation, Sterlite, Radisys, Ericcson, Blinq Network, and others.
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Private 5G Network Market Segmentation:
Private 5G Network Market, By Component (2023-2032)
- Hardware
- Software & Services
Private 5G Network Market, By Frequency (2023-2032)
- Sub 6 GHz
- mm Wave
Private 5G Network Market, By Network Spectrum (2023-2032)
- Licensed
- Unlicensed
Private 5G Network Market, By Network Spectrum (2023-2032)
- Manufacturing
- Energy Utilities
- Logistics & Transportation
- Aerospace & Defense
- Healthcare
- Mining
- Oil & Gas
- Others
Private 5G Network Market, By Region (2023-2032)
- North America
-
- U.S.
- Canada
- Europe
-
- U.K.
- Germany
- France
- Rest of Europe
- Asia Pacific
-
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
- Latin America
-
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
-
- UAE
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
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