Private 5G Network Market Size To Reach $36.08 Billion By 2030

January 2024 | Report Format: Electronic (PDF)

Private 5G Network Market Growth & Trends

The global private 5G network market size is estimated to reach USD 36.08 billion by 2030, registering a CAGR of 51.2% from 2023 to 2030, according to a new study by Grand View Research, Inc. Significantly growing demand for ultra-reliable low-latency connectivity with an extremely secure network across several mission-critical applications, such as public safety, is expected to boost the deployment of private 5G networks during the forecast period. Moreover, a wide range of industries, including manufacturing, oil & gas, mining, and energy & utility, are investing a massive amount in deploying private 5G telecom service to enhance their overall productivity and operational efficiency. As a result, it is expected to foster market growth from 2023 to 2030.

The private 5G network is expected to completely transform the transportation and logistics industry by providing seamless Vehicle-to-Vehicle (V2V) and Vehicle-to-Infrastructure (V2I) connectivity. As such, the need to ensure a secure, seamless, and uninterrupted connectivity with ports, vessels, and ships is estimated to drive the market. At the same time, the continued deployment of private 5G infrastructure is estimated to improve the operational efficiencies in several Industrial IoT (IIoT) use cases. The IIoT use cases include Automated Guided Vehicles (AGV), wireless UHD cameras, machine control systems, collaborative/cloud robots, and remote asset monitoring. Thus, the rising need for higher and secure bandwidth to ensure reliable and unified communication between IIoT devices is expected to propel the market growth over the forecast period.

Key market players are strategically building partnerships with industry giants to set up a private 5G network to provide high-speed secure connectivity to their customers. For instance, in Feb 2020, Nokia Corporation deployed a private 5G network infrastructure for Lufthansa Technik for virtual inspection of engine parts remotely for its civil aviation clients. Moreover, the rising demand for enhanced bandwidth connectivity for secured enterprise applications is anticipated to fuel the adoption of private 5G services globally.

Due to the ongoing Covid-19 pandemic, several key countries such as the U.S., France, the U.K., and Australia have temporarily postponed the 5G spectrum auctions. The pandemic has also hampered the production and supply of major telecom equipment needed to deploy the network infrastructure. As a result, it is anticipated to witness market growth over the forecast period.

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Private 5G Network Market Report Highlights

  • The hardware segment dominated the market in 2022 and will retain its dominance throughout the forecast period. The growth is attributed to the increasing deployment of private 5G service, RAN, and backhaul and transport equipment for various mission-critical applications

  • The sub-6 GHz segment is expected to attain the highest market share by 2030 due to the massive allocation of sub-6 GHz frequencies by communication service providers to deliver network services

  • The unlicensed/shared segment dominated the market in 2022. With a rising need to avail affordable and highly secure band of the frequency spectrum for Massive Machine Type Communication (mMTC), the unlicensed/shared spectrum segment is anticipated to account for a significant market share by 2030.

  • The manufacturing segment in anticipated to grow at highest CAGR during the 2023-2030 period. With the growing need to provide unified connectivity with low latency to several industrial sensors, the manufacturing sector is anticipated to witness huge market growth over the forecast period

  • Asia Pacific is expected to grow at fastest CAGR through the projection period. The huge presence of manufacturers and their substantial investments in building automated factories in the region is expected to fuel the market growth. Moreover, countries such as China, South Korea, Japan, and Australia are making huge investments to acquire 5G spectrum which is anticipated to support to the regional market growth

  • Prominent players are strategically focusing on establishing partnerships to deploy the network in customers’ premises to deliver secure and enhanced wireless connectivity.

Private 5G Network Market Segmentation

Grand View Research has segmented the global private 5G network market based on component, frequency, spectrum, vertical, and region:

Private 5G Network Component Outlook (Revenue, USD Million, 2020 - 2030)

  • Hardware

    • Radio Access Network

    • Core Network

    • Backhaul & Transport

  • Software

  • Services

    • Installation & Integration

    • Data Services

    • Support & Maintenance

Private 5G Network Frequency Outlook (Revenue, USD Million, 2020 - 2030)

  • Sub-6 GHz

  • mmWave

Private 5G Network Spectrum Outlook (Revenue, USD Million, 2020 - 2030)

  • Licensed

  • Unlicensed/Shared

Private 5G Network Vertical Outlook (Revenue, USD Million, 2020 - 2030)

  • Manufacturing/Factories

    • Food & Beverages

    • Automotive

    • Pharmaceuticals

    • Electrical & Electronics

    • Heavy Machinery

    • Clothing & Accessories

    • Others

  • Energy & Utilities

  • Transportation & Logistics

  • Defense

  • Enterprises & Campus

  • Mining

  • Healthcare/Hospitals

  • Oil & Gas

  • Retail

  • Agriculture

  • Smart Cities

  • Others

Private 5G Network Regional Outlook (Revenue, USD Million, 2020 - 2030)

  • North America

    • U.S.

    • Canada

    • Mexico

  • Europe

    • U.K.

    • Germany

    • Italy

    • Russia

  • Asia Pacific

    • China

    • India

    • Japan

    • South Korea

    • Australia

  • South America

    • Brazil

  • Middle East & Africa (MEA)

List of Key Players in Private 5G Network Market

  • Telefonaktiebolaget LM Ericsson

  • Nokia Corp.

  • Samsung

  • ZTE Corp.

  • Deutsche Telekom

  • Juniper Networks

  • AT&T Inc.

  • Verizon Communications

  • Altiostar

  • Huawei Technologies Co., Ltd.

  • Mavenir

  • BT Group

  • T-Systems International GmbH

  • Cisco Systems, Inc.

  • Vodafone Ltd.

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