The global private 5G network market size is expected to reach USD 103,516.54 million by 2032, according to a new study by Polaris Market Research. The report “Private 5G Network Market Share, Size, Trends, Industry Analysis Report, By Component (Hardware and Services); By Frequency; By Spectrum; By Vertical; By Region; Segment Forecast, 2023 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.
The demand for secure and low-latency connectivity in mission-critical applications drives the deployment of private 5G networks across various industries. Manufacturing, oil & gas, mining, and energy sectors invest heavily in private 5G telecom services to enhance productivity and operational efficiency. This is expected to fuel market growth over the forecast period.
Private 5G networks have the potential to revolutionize the transportation and logistics industry by enabling seamless Vehicle-to-Vehicle (V2V) and Vehicle-to-Infrastructure (V2I) connectivity. The need for secure and uninterrupted communication with ports, vessels, and ships drives the market. Furthermore, deploying private 5G infrastructure is expected to improve operational efficiencies in Industrial IoT (IIoT) use cases, including Automated Guided Vehicles (AGV), wireless UHD cameras, machine control systems, collaborative/cloud robots, and remote asset monitoring. The increasing demand for higher bandwidth and secure communication in IIoT devices is set to drive market growth.
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However, the Covid-19 pandemic has temporarily postponed 5G spectrum auctions in countries like the U.S., France, the U.K., and Australia. Additionally, the production and supply of telecom equipment needed for network infrastructure deployment must be improved. Despite these challenges, the market is still projected to experience growth over the forecast period.
Private 5G Network Market Report Highlights
Polaris Market Research has segmented the Private 5G Network market report based on component, frequency, spectrum, vertical and region.:
Private 5G Network, Component Outlook (Revenue - USD Million, 2019 - 2032)
Private 5G Network, Frequency Outlook (Revenue - USD Million, 2019 - 2032)
Private 5G Network, Spectrum Outlook (Revenue - USD Million, 2019 - 2032)
Private 5G Network, Vertical Outlook (Revenue - USD Million, 2019 - 2032)
Private 5G Network, Regional Outlook (Revenue - USD Million, 2019 - 2032)