The “5G Private Networks – Share, Trends, Drivers, Ecosystem, and Market Sizing” report has been added to offering. This report gives a detailed insight into the development and market dynamics of 5G private networks worldwide, comprising of market sizing for the forecast period of 2020-2027.
Global Private 5G Network Market Outlook
According to a new report, the global private 5G network market size is anticipated to reach USD 8.32 billion by registering a significant CAGR by the end of the forecast period. I.e. 2020-2027. A private 5G network is a popular type of dedicated local area network (LAN) that offers upgraded internet connectivity to industrial and other customers. The evolving 5G network services are projected to address the necessity for critical wireless communication. Moreover, the global private 5g network market is majorly driven by the emerging need for ultra-reliable latency connectivity for IoT applications.
In the report, the market outlook encompasses the primary dynamics of the market covering drivers, restraints, opportunities, and challenges faced by the industry.
Driving Factors for Global Private 5G Network
Factors such as increasing applications for time-sensitive and real-time based networking have significantly increased across different industry verticals. Technological advancement & increased applications are boosting the growth of the private 5G network market and are anticipated to grow with significant revenue.
In addition to this, large scale companies are expected to install private 5G networks with the help of dedicated spectrum and fully owned infrastructure and through an outsourced mobile operator. High bandwidth and fast networking data rates are the primary requirements across industries fueling the growth of the global private 5G market.
Global Private 5G Network Market Competitive Landscape
Several Chinese companies are started focusing on small cell densification. There is rapid growth in the enterprise end-use cases such as automation, IoT, and are creating lucrative incremental opportunities for 5G service providers in this region. At present, the densification of small cells is gradually increasing in North America as compared to China.
Leading players operating in the global private 5G network market include AG, ABB Ltd, Altiostar, AT & T Inc., Broadcom Inc., Cisco Systems, Deutsche Telekom, Huawei Technologies Co, Mercedes Benz, Nokia Corporation, Qualcomm Technologies, Inc., Siemens, Samsung, Telefonaktiebolaget LM Ericsson, T-Systems International GmbH, Verizon Communications, Vodafone Limited, and ZTE Corporation.
Key market players are strategically collaborating with leading industrial manufacturers to form an advanced private 5G network-based test center. Additionally, major market players are primarily targeting on forming partnership agreements to come up with a 5G network for specific applications. Recently, Vodafone Limited collaborated with Lufthansa Technik to build a private 5G network campus at Hamburg Airport, Germany.
Key Topics Covered
- Executive Summary
- Forecast and Trends
- Market Overview
- Market Definitions
- Market Drivers and Restraints
- Key Technologies
- Key Requirements
- Factors Driving Key Requirements
- Geographic Scope
- Strategies for Market Participants
- Growth Opportunities and Companies to Action
- Companies Mentioned