The global private 5G network market size is expected to reach USD 13.92 billion by 2028 according to a new study by Polaris Market Research. The report “Private 5G Network Market Share, Size, Trends, Industry Analysis Report, By Component Outlook (Hardware, Services); By Frequency (Sub-6 GHZ, mmWave); By Spectrum (Licensed, Unlicensed/Shared); By Vertical (Manufacturing, Energy & Utilities, Transportation & Logistics, Aerospace & Defense, Government & Public Safety, Corporates/Enterprises, Mining, Healthcare, Oil & Gas, Others); By Regions; Segment Forecast, 2020 – 2028” gives a detailed insight into current market dynamics and provides analysis on future market growth.
A private 5G network is a dedicated network that uses 3GPP technology such as cellular technology and mobile carrier technology to create a private network that delivers faster internet connectivity. 5G networks are virtualized, allowing network resources to be distributed on-demand in response to industrial, enterprise, and other customer requirements. 5G is most suitable for creating multiple dedicated networks for individual applications or individual enterprises over a single network. Private 5G networks focused on leveraging powerful wireless speeds to enable the organization to calculate production output and also provide the ability to control critical systems, providing an improved form of communication.
The private 5G network market is set to witness a tremendous growth rate owing to the introduction of revolutionary 5G technology and the major impact of COVID-19. During the pandemic, a significant demand for higher speeds and capacity has observed by the market. As a result of the COVID-19 scenario, private organizations, manufacturers, regulators, and other potential users are integrating the private 5G networks.
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Private 5G network is expected to deliver dedicated end-to-end security for organizations to ensure their critical data and infrastructure are shielded from all types of threats. Therefore, it is projected that private 5G networks will gain huge traction from government and enterprise data storage applications. The rapidly evolving next-generation network services are set to address the emerging demand for critical wireless communication across industry verticals. The introduction of a private 5G network aims to respond promptly and rapidly reflect changes in business needs.
Some of the promising players operating in the private 5G network market are Cisco Systems, Inc., AT&T Inc., Broadcom Inc., Huawei Technologies Co., T-Systems International GmbH, ZTE Corporation, Deutsche Telekom, Qualcomm Technologies, Inc., Nokia Corporation, SAMSUNG, Vodafone Limited, Ericsson, Telefonaktiebolaget LM, Altiostar, Verizon Communications, Ltd, and others.
Vodafone has launched a dedicated 5G network in the region, and its sister company in England has collaborated with numerous businesses. For instance, Ford has incorporated a private network to ease out operations at its electric battery workshop based in Essex to link it to a site in Cambridge, enabling the two to collaborate on battery welding.
Polaris Market Research Market research has segmented the private 5G network market report on the basis of spectrum, component, frequency, vertical, and region
Private 5G Network Spectrum Outlook (Revenue – USD Million, 2020 – 2028)
Private 5G Network Component Outlook (Revenue – USD Million, 2020 – 2028)
- Radio Access Network
- Core Network
- Backhaul & Transport Interconnecting
- Installation & Integration
- Data Services
- Support & Maintenance
Private 5G Network Frequency Outlook (Revenue – USD Million, 2020 – 2028)
- Sub-6 GHz
Private 5G Network Vertical Outlook (Revenue – USD Million, 2020 – 2028)
- Food & Beverages
- Electrical & Electronics
- Heavy Machinery
- Clothing & Accessories
- Heavy Machinery
- Electrical & Electronics
- Aerospace & Defense
- Energy & Utilities
- Transportation & Logistics
- Government & Public Safety
- Oil & Gas
Private 5G Network Regional Outlook (Revenue – USD Million, 2020 – 2028)
- North America
- Asia Pacific
- South Korea
- Central & South America
- Middle East & Africa