The global Private 5G Market Value is projected to be USD 11.8 billion by 2028, growing from USD 2.0 billion in 2023, at a Compound Annual Growth Rate (CAGR) of 42.3% during the forecast period.

The increasing demand for bandwidth-intensive applications, such as augmented reality (AR), virtual reality (VR), and high-definition video streaming, has driven the need for higher network capacity and bandwidth.

The Private 5G market for mmWave frequency band is expected to hold the highest CAGR during the forecast period. mmWave frequency bands offer significantly higher data rates compared to lower-frequency bands. This makes them well-suited for applications that require ultra-fast and high-capacity data transmission.

The Private 5G market for IT & telecommunication vertical is expected to hold the highest market share during the forecast period. The proliferation of IoT devices and the emergence of edge computing have driven the need for reliable and high-speed connectivity within IT and Telecommunication companies.

The Private 5G market for cloud-based deployment is expected to hold the highest market share during the forecast period. Cloud-based deployment eliminates the need for extensive on-premises hardware infrastructure, reducing capital expenditures.

The Private 5G market for Asia Pacific is expected to hold the highest CAGR during the forecast period. Asia Pacific is a global hub for manufacturing and industry, making the region a prime candidate for adopting Private 5G networks.

The Private 5G Market market includes major Tier I and II players like Huawei Technologies Co., Ltd. (China), Telefonaktiebolaget LM Ericsson (Sweden), Nokia (Finland), Samsung Electronics Co., Ltd. (South Korea), ZTE Corporation (China) and others. These players have a strong market presence for private 5G across various countries in North America, Europe, Asia Pacific, and RoW.