Fri. Sep 29th, 2023
Private 5G Networks Market Insights 2023

The global Private 5G Networks market is projected to reach USD 22,180 million by 2030, with a CAGR of 80.8% during the forecast period of 2023-2030. Private 5G networks are cellular networks that provide features such as network slicing, low latency, and high bandwidth. They are designed to support connectivity and maximize WAN connection to mobile endpoints. These networks are used in various industries including manufacturing, energy and utilities, transportation and logistics, education and hospitality, government and public safety, corporates and enterprises, healthcare, and others.

Europe is currently the largest market for private 5G networks, with a sales market share of about 41%, followed by Asia-Pacific and North America, both with a sales market share of about 55%. In terms of product, Sub-6 GHz is the largest segment, accounting for over 80% of the market share. Energy and utilities is the largest application segment.

The market for private 5G networks has shown strong potential for substantial growth, with a forecasted CAGR of 80.8% from 2023 to 2030. The key players in the global private 5G networks market include Nokia, Ericsson, Huawei, and others. These players hold a share of over 65% in the market.

The market has faced challenges due to the COVID-19 pandemic and the Russia-Ukraine conflict. However, with strategic initiatives from industry players, the market is expected to recover and continue to expand.

In conclusion, the private 5G networks market is expected to witness significant growth in the coming years. The increasing global demand for various applications is driving the growth of this market. Strategic profiles of leading participants, along with a comprehensive landscape of the global private 5G networks industry’s competitive dynamics, are provided in the market report. The report also includes insights into factors influencing market growth, evaluation of market structure, and analysis of current size and future prospects of the industry.