DUBLIN, Oct. 5, 2023 (GLOBE NEWSWIRE) — Private 5G Market by Components (Base Stations, Radio Access Networks, Core Networks, Antennas, Software Defined Networks, Network Management, Network Security), Spectrum (Licensing) , Shared) ‘Services, Frequency Bands and Deployment Modes – Global Forecast to 2028’ report added ResearchAndMarkets.com Recruitment.
The global private 5G market is expected to reach USD 2 billion in 2023 and USD 11.8 billion by 2028. From 2023 to 2028 he is expected to grow at his CAGR of 42.3%
The report includes comprehensive insights on the Private 5G market and delves into the key factors such as drivers, constraints, challenges, and opportunities shaping its growth trajectory.
Provides an in-depth analysis of key industry players, regarding their business profiles, product portfolios, agreements, alliances, collective agreements, new product and service launches, strategic initiatives including mergers and acquisitions, and recent developments within the private sector. Provide details. 5G market.
European industrial environments and businesses are currently undergoing significant digital transformation initiatives. Private 5G networks are critical to facilitating this transformation by providing the essential connectivity needed to support advanced technologies such as IoT, automation, and data analytics.
With a strong manufacturing base and leadership in Industry 4.0 initiatives, Europe is leveraging private 5G networks to drive smart manufacturing, optimize processes, and seamlessly integrate robotics and automation across various industrial sectors. The increasing adoption of IoT devices and the evolution of smart cities are driving the demand for reliable, high-speed connectivity. Private 5G networks provide the essential infrastructure supporting these applications, improving efficiency, sustainability, and overall quality of life.
The widespread integration of IoT devices across various industries requires connectivity solutions that can meet the requirements of reliable, low-latency, and high-bandwidth communication. Private 5G networks will provide the foundational infrastructure to support the widespread adoption of IoT devices, allowing enterprises to take full advantage of the potential of his IoT to improve operational efficiency, data-driven Enabling insights and driving innovation.
Key players in the private 5G market include industry leaders such as Huawei Technologies Co., Ltd. (China), Telefonaktiebolaget LM Ericsson (Sweden), Nokia (Finland), Samsung Electronics Co., Ltd. (South Korea), and ZTE. will appear. Ltd. (China).
Additionally, the report provides competitive analysis including emerging startups within the Private 5G market ecosystem.
The software components segment accounts for the second highest CAGR in the private 5G market.
Software components allow private 5G networks to quickly adapt to changing requirements and conditions. This agility is essential for industries that need to rapidly deploy and reconfigure network services to meet varying demands and use cases. Software components play a key role in implementing robust security measures within private 5G networks.
These enable features such as encryption, authentication, and access control to ensure data privacy and network integrity. The growth of software components in the private 5G market is driven by capabilities that provide customization, agility, innovation, security, and cost efficiency.
Manufacturing accounts for the second largest market share in the private 5G market.
The manufacturing sector is undergoing a major transformation with Industry 4.0, which emphasizes automation, data exchange, and IoT integration. Private 5G networks provide the high-speed, low-latency connectivity needed to implement these advanced technologies and optimize manufacturing processes.
The growth of the private 5G market in the manufacturing industry is driven by the need for advanced connectivity solutions that support IoT integration, smart manufacturing, automation, and other innovative technologies. Private 5G networks allow manufacturers to optimize operations, improve product quality, and maintain a competitive edge in an increasingly digital and interconnected manufacturing environment.
Key attributes:
| report attributes | detail |
| number of pages | 248 |
| Forecast period | 2023-2028 |
| Estimated market value in 2023 (USD) | 2 billion dollars |
| Projected market value to 2028 (USD) | $11.8 billion |
| compound annual growth rate | 42.3% |
| Target area | global |
premium insights
- Technological advancements and industry-specific needs to drive market growth
- US and mmWave segment to capture largest share of North American private 5G market in 2023
- China captures largest share of Asia-Pacific private 5G market during forecast period
- China’s private 5G market will exhibit the highest CAGR from 2023 to 2028
Private 5G market use cases
Internet of Things (IoT)
- Private 5G networks provide the high speed, low latency, and reliable connectivity needed to connect IoT devices
- Case study: Bosch and Nokia collaborate to establish a private 5G network within a Bosch smart factory
sports analysis
- Private 5G drives innovation in sports technology
- Introducing Xfinity Center private 5G network to enhance overall viewing experience
Augmented Reality (Ar)/Virtual Reality (VR)
- Private 5G enables a wide range of applications within Ar/VR
- Case Study: Korea Broadcasting Corporation (KBS) and Sk Telecom deploy private 5G network at KBS Suwon Center
smart infrastructure
- Private 5G networks help collect real-time data from sensors, devices, and equipment embedded in smart infrastructure
- Case study: Barcelona deploys private 5G network as part of smart city initiative
others
- Case study: Agco and Ericsson deploy private 5G networks on Brazilian farms to enhance agricultural operations
Market trend
driver
- The emergence of Industry 4.0
- Growing demand for the Internet of Things (IoT)
- Increased adoption of cloud computing
- Growing need for security and privacy in corporate networks
restraints
- Lack of standardization guidelines
- limited available spectrum
opportunity
- Increasing demand for high-performance applications
- Increased adoption of private 5G networks for remote monitoring and monitoring
- Increased enterprise interest in deploying private 5G networks
assignment
- Requires large upfront investment
- Integration with legacy systems
case study analysis
- Siemens and Nokia collaborate on suitability testing of private 5G networks for industrial automation
- Bosch and Ericsson collaborate to deploy private 5G networks
- Walmart and Verizon team up to explore the potential of private 5G networks in retail
- Harbor Air enhances aviation operations with private 5G network
- Lufthansa Technik partners with Nokia to bring private 5G network to its facilities
technical analysis
- key technology
- network slicing
- edge computing
- Large scale multiple input multiple output (MIMO)
- milliwave
- Complementary technology
- Internet of Things (IoT)
- Artificial intelligence (AI) and machine learning (ML)
- big data analysis
- adjacent technology
- cloud computing
- robotics and automation
- Cyber security solutions
- Virtual reality (VR) and augmented reality (AR)
Company Profile
key player
- Huawei Technologies Co., Ltd.
- Telefonactivo Larget Lm Ericsson
- nokia
- samsung
- Zte Corporation
- NEC
- oracle
- Cisco Systems Corporation
- Siena Co., Ltd.
- Juniper Networks, Inc.
other players
- Hewlett Packard Enterprise Development Lp
- positive network
- Mavenir
- Serona Co., Ltd.
- air span networks
- commscope
- VMware Corporation
- extreme networks
- Conva Telecom Systems Holdings Co., Ltd.
- Deutsche Telekom K.K.
- Fujitsu
- verizon
- At&T
- SK Telecom Co., Ltd.
- Dell Corporation
For more information on this report, please visit https://www.researchandmarkets.com/r/f045le.
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