Global Private 5G Network Market Growth Analysis Report - Market Size, Share, Forecast Trends and Outlook (2024-2032)

Global Private 5G Network Market Outlook

The global private 5G network market size was approximately USD 2.03 billion in 2023. The market is further projected to grow at a CAGR of 30.5% between 2024 and 2032, reaching a value of USD 25.36 billion by 2032.

Key Trends in the Market

A private 5G network refers to a dedicated Local Area Network (LAN) utilising 5G technology, offering universal connectivity and services within a defined area. It provides the advantages of 5G, including low latency, high transmission speed, increased device connections, and support for augmented reality (AR) and virtual reality (VR) applications. With applications across industries like manufacturing, healthcare, automotive, government, mining, and aerospace, private 5G networks cater to specific connectivity needs. The global market is driven by the demand for reliable, low-latency connectivity in Industrial Internet of Things (IIoT) applications, encompassing collaborative robots, industrial cameras, and sensors.

• The global private LTE market is on the rise, witnessing deployment across various industrial sectors. Leveraging the robust LTE infrastructure, this trend benefits from a standardised, high-volume environment and the expertise of established suppliers for network development and deployment.

• While LTE can accommodate various industrial applications, the superior performance demands of consumers, including availability, reliability, latency, jitter, device capacity, and speed, are better addressed by 5G. With advancements in the radio domain and network design, 5G is well-equipped to meet the high-performance requirements essential for private 5G networks. This contributes to the private 5G network market demand.

• With the potential to play a pivotal role in scenarios where information confidentiality is paramount, private 5G network is anticipated to witness a surge in adoption. This is expected to be particularly high in sectors such as government, public safety, and enterprise data storage applications throughout the forecast period, thereby aiding the private 5G network market growth.

• The oil and gas industry's swift transition to digital processes has heightened the requirement for exceptionally reliable and secure bandwidth capacity. This trend is expected to drive the demand for high-bandwidth private networks, particularly within the Organization of the Petroleum Exporting Countries (OPEC).

Private 5G Network Market Segmentation

Based on component, the market is categorised into hardware, software, and services. On the basis of frequency, the market can be bifurcated into Sub-6 GHz and MmWave. The market is divided based on spectrum into licensed and unlicensed/shared.

The market can further be segmented on the basis of vertical into manufacturing/factories, energy and utilities, transportation and logistics, defence, enterprises and campus, mining, healthcare/hospitals, oil and gas, retail, agriculture, smart cities, and others.

The major regional markets for private 5G network are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter’s five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global private 5G network market, covering their competitive landscape and the latest developments like mergers, acquisitions, investments, and expansion plans.

• Cisco Systems Inc. 

• Samsung Electronics Co., Ltd.   

• AT&T Inc. 

• Verizon Communications Inc.  

• Huawei Technologies Co., Ltd.    

• ZTE Corporation   

• Telefonaktiebolaget LM Ericsson  

• Nokia Corporation   

• Juniper Networks, Inc.   

• Deutsche Telekom AG   

• Others

Private 5G Network Market Share by Component

The hardware segment is sub-divided by type into Radio Access Network (RAN), core network, and backhaul and transport. The segment contributes to the majority of revenue, driven by widespread deployment of core networks and backhaul/transport equipment globally. Key providers like Nokia, Qualcomm, and Ericsson contribute to this growth with a focus on enhancing their products and services.

Meanwhile, the services segment, which includes installation and integration, data services, and support and maintenance, is anticipated to witness significant growth, particularly in installation and integration services, as there is a rising focus on installing private 5G core networks for secure information management.

Market Share by Region

As per the private 5G network market analysis, North America dominates with over 31% market share, led by providers like Qualcomm, AT&T, and Verizon investing heavily in private 5G network infrastructure. The region sees growth opportunities with automakers deploying industrial sensors, including Ford and General Motors. The demand for Ultra-reliable Bandwidth Low Latency Connectivity (URLLC) across sectors like public safety, oil and gas, and aerospace boosts North American market growth.

Meanwhile, the Asia Pacific is the fastest-growing region, driven by manufacturers investing in automated factories and substantial 5G spectrum acquisitions in countries like China, Japan, South Korea, and Australia.

The transition to autonomous industries by major players such as Siemens, ABB, and Mercedes Benz is expected to drive private 5G adoption in key European countries like Germany and the U.K.

Competitive Landscape

Samsung Electronics Co., Ltd., a global technology leader, pioneers in innovation of TVs, smartphones, wearables, tablets, digital appliances, network systems, medical devices, semiconductors, and LED solutions. With origins in 1969, it has evolved into a top-10 global brand, known for its Smart Home and Digital Health initiatives in the Internet of Things space. Samsung's expansive network worldwide reflects its growth driven by the creativity and diversity of its talented workforce.

ZTE Corporation, a global leader in telecommunications and information technology, provides innovative solutions to telecom operators, governments, enterprises, and consumers across 160+ countries. Listed on the Hong Kong and Shenzhen Stock Exchanges since 1985, ZTE is dedicated to fostering connectivity and trust worldwide, serving over a quarter of the global population. Committed to a better future, ZTE remains at the forefront of integrated communication and information solutions.

Deutsche Telekom AG, a global telecommunications leader, serves 245 million mobile, 25 million fixed-line, and 21 million broadband customers in over 50 countries. Generating €114.4 billion in 2022 with 206,800 employees, Deutsche Telekom is evolving into a digital service company, focusing on software and digitisation. With a commitment to network expansion and innovation, it invests significantly, aiming to meet growing data demands and spearhead digital transformation across industries, including automotive, manufacturing, logistics, healthcare, and the public sector.

Other players in the private 5G network market include Cisco Systems Inc., AT&T Inc., Verizon Communications Inc., Huawei Technologies Co., Ltd., Telefonaktiebolaget LM Ericsson, Nokia Corporation, and Juniper Networks, Inc., among others.

Key Highlights of the Report