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Private 5G Network Market Trends

Report ID: GMI7737
Published Date: Dec 2023
Report Format: PDF

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Private 5G Network Market Trends

The rising prominence of Network-as-a-Service (NaaS) models is another major factor driving the market growth. NaaS technology has grown widely popular as it allows enterprises to access private 5G networks without extensive infrastructure investments. The introduction of customizable NaaS solutions for enabling businesses to deploy and manage private networks more flexibly will contribute to industry development. To cite an instance, in August 2023, Lumen Technologies released its new NaaS platform with Lumen Internet On-Demand, its flagship service to offer radical flexibility to customers in buying, using, and managing networking services.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of private 5G network was worth USD 2.1 billion in 2023 and is anticipated to register 40.5% CAGR between 2024 and 2032, owing to the increasing application potential in manufacturing, healthcare, logistics, and smart cities will push the adoption of private 5G networks to cater to industry-specific applications.

The unlicensed spectrum segment accounted for around 69% market share in 2023 and is anticipated to grow significantly because of the benefits of reliability, performance, security, regulatory compliance, and scalability in mission-critical as well as high-demand applications.

Asia Pacific region dominated around 38% share of the private 5G network market in 2023 and is poised for substantial growth as several governments across the region are placing efforts for supporting private 5G deployments through spectrum allocation and regulatory frameworks.

AT&T Inc, Deutsche Telekom, Huawei Technologies Co., Ltd., Juniper Networks, Mavenir, Nokia, Samsung Electronics Co., Ltd., Telefonaktiebolaget LM Ericsson, Verizon Communications, and ZTE Corporation.