Private 5G Network Market 2024 Sales, Revenue, Price and Gross Margin - 2030

 Private 5G Network Industry

The global private 5G network market was valued at USD 2.00 billion in 2023, with a projected compound annual growth rate (CAGR) of 54.1% from 2024 to 2030. The rapid expansion of this market is fueled by the demand for dedicated, secure, and high-performance connectivity that private 5G networks offer to businesses and governments. These networks enable the connection of more devices, enhance automation, and improve customer experiences, which are key factors driving their adoption across various sectors. Industries such as smart cities, where private 5G networks are used for traffic management, security, and other critical applications, are particularly benefiting from this technology.

Private 5G networks are being deployed by organizations across a wide range of industries, including manufacturing, utilities, transportation, logistics, retail, and agriculture, as well as by governments involved in smart city projects. The advantages of private 5G networks—such as ultra-fast speeds, heightened security, cost efficiency, reliability, prioritized network access, and a wider coverage range compared to Wi-Fi—are accelerating their adoption in these sectors. These benefits make private 5G networks highly attractive, contributing to the overall growth of the market.

As the number of connected devices continues to increase, many enterprises face challenges related to low coverage and network security due to congestion. Private 5G networks address these issues by offering dedicated network connectivity, which ensures enhanced security, better connectivity, and improved automation with lower latency. These attributes allow enterprises to provide a superior customer experience. Moreover, private 5G networks are critical for supporting advanced technological applications such as machine control systems, wireless ultra-high-definition (UHD) cameras, collaborative or cloud-based robots, and remote asset monitoring. The ability to support such sophisticated technologies is further driving the widespread adoption of private 5G networks across industries.

Gather more insights about the market drivers, restrains and growth of the Private 5G Network Market

Frequency Insights

In 2023, the Sub-6 GHz segment led the market.

  • Sub-6 GHz operates in a lower frequency range, approximately between 1 GHz and 6 GHz, providing broader coverage but with limited speed compared to higher frequency bands.
  • This wider coverage makes Sub-6 GHz especially suitable for real-world implementations, such as private 5G networks where enterprises need reliable connectivity over large areas.
  • Additionally, the Sub-6 GHz spectrum has been used in previous-generation networks, making it a more accessible and cost-effective option for 5G applications, further driving growth in this segment.

The mmWave segment is anticipated to experience significant growth over the forecast period.

  • Several federal governments in leading countries have released mmWave frequency bands to support private 5G services.
    • For example, the Federal Communications Commission (FCC) has released various mmWave frequency bands, such as 24.25-24.45 GHz, 47.2-48.2 GHz, 24.75-25.25 GHz, and 38.6-40 GHz.
  • Countries including Japan, South Korea, and Italy have also released mmWave frequencies to enhance data services.
  • This focused initiative by key governments to release mmWave frequencies is expected to drive the growth of the mmWave segment over the next seven years.

Order a free sample PDF of the Private 5G Network Market Intelligence Study, published by Grand View Research.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

Contact:

Sherry James

Corporate Sales Specialist, USA

Grand View Research, Inc.

Phone: 1-415-349-0058

Toll Free: 1-888-202-9519

Email: sales@grandviewresearch.com

Web: https://www.grandviewresearch.com/

Follow Us: LinkedIn | Twitter

Comments

Post a Comment

Popular posts from this blog

Food and Beverage ERP Solutions Procurement Intelligence: Food and Beverage ERP Solutions category is expected to have pricing growth outlook of 8.2% From 2023 To 2030

  Food and Beverage ERP Solutions Category Overview The food and beverage ERP solutions category is expected to grow at a CAGR of 8.2% from 2023 to 2030.Consumers are increasingly seeking transparency and traceability in the food and beverage business, which is fuelling this category's growth. ERP solutions can help businesses to track the origin of their ingredients and products, which can in turn help ensure food safety and meet consumer demand. The supply chain for the food and beverage industry is complex and has a wide range of players. ERP solutions can help businesses to optimize their supply chains, improve efficiency, and reduce costs. Technologies such as cloud computing, barcode scanning, and RFID labels are used under this category. Cloud computing offers a cost-effective and scalable solution for hosting ERP software, enabling remote access to data and applications. Barcode scanning is a fast and efficient method for tracking inventory and materials, improving traceabi...
Read more

Contact Center Software Market Worth $149.58 Billion By 2030

Contact Center Software Industry Overview The global contact center software market size was valued at USD 23.94 billion in 2021 and is expected to grow at a compound annual growth rate (CAGR) of 23.2% from 2022 to 2030.  The growth of the market can be attributed to the growing adoption of cloud-based and virtual contact center solutions to achieve better business continuity. Contact centers across the globe are focusing on transforming customer experience from a single interaction to an entire journey of consistent and personalized interactions. At this juncture, contact center software is helping businesses in ensuring a seamless customer experience across all communication channels. The strong emphasis businesses are putting on streamlining and personalizing customer interactions to enhance customer satisfaction is driving the growth of the market. According to a study by Salesforce.com, Inc., around 84% of customers consider the experience provided by a particular company e...
Read more

Manned Guarding Services Procurement Intelligence : Manned Guarding Services Category Is Expected to Grow at CAGR of 13.5% From 2024 to 2030

  Manned Guarding Services Category Overview The manned guarding services category is anticipated to witness growth at a CAGR of 13.5% from 2024 to 2030. Asia Pacific dominates the global category, followed by North America (with the fastest growth rate) and Europe. Rising standards of living, urbanization, and population are the key factors driving Asia Pacific’s growth. In addition, the region’s expanding tourism industry, coupled with political and economic stability, is also propelling the category’s expansion. The growing usage of technologies, such as access control systems and CCTV, is propelling the demand for the services offered in the category in North America. It has also helped companies to cut expenses while improving the safety of their employees and facilities. The demand in Europe is driven by the demand for more security at public events and venues and the growing incidence of terrorist incidents. Order your copy of the  Manned Guarding Services Pro...
Read more