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Private 5G Network Market is Projected to Grow Massively in Near Future

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Global Trade Daily, Technology

Private 5G Network Market is Projected to Grow Massively in Near Future

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The Private 5G Network Market is set to observe substantial growth between 2024 and 2032 due to higher adoption in the integration of private 5G networks with edge computing.

The industry growth is fueled by rapid technological advancements. The evolution of Industry 4.0 and the Internet of Things (IoT) necessitates high-performance, low-latency connectivity, driving industries to adopt private 5G networks. 

Industries dealing with sensitive data and mission-critical operations, such as manufacturing, healthcare, and finance, are preferring private 5G networks to ensure robust cybersecurity measures and dependable connectivity. The ability to customize and control network architecture within a private environment enhances data protection, mitigates cybersecurity risks, and ensures consistent, reliable performance. This heightened focus on security and reliability where data integrity and uninterrupted operations are important, contributes to the positive market outlook.

Energies & utilities segment is poised to generate sustained demand through 2032 due to the transformative impact on critical infrastructure. The private 5G networks offer unparalleled connectivity and data processing capabilities, favoring usage across smart grids, renewable energy integration, and efficient utility management. These networks enable real-time monitoring and control of energy distribution, optimizing grid performance and facilitating the integration of renewable sources. The low-latency and high-reliability features of private 5G networks enhance the efficiency of utility operations, supporting applications like predictive maintenance and asset monitoring.

Hardware segment is poised to grow at substantial rate during 2024-2032. Advanced radio access network (RAN) components, small cells, and customized base stations are pivotal elements in creating powerful, dedicated 5G networks. These devices not only enhance network coverage and capacity but also enable industries to deploy private networks tailored to their specific needs. The development of compact and energy-efficient 5G hardware solutions allows for seamless integration within diverse operational environments, from manufacturing plants to large-scale enterprises. 

Europe private 5G network industry size is touted to expand at a rapid pace through 2032, propelled by strong regulatory support and accelerated adoption across sector. European governments, recognizing the transformative potential of 5G technology, actively foster an environment conducive to private network deployment. Industries such as manufacturing, healthcare, and logistics embrace private 5G networks to enhance operational efficiency, driven by the technology’s low latency, high reliability, and the ability to support critical applications.

Some of the leading players in the private 5G network industry are AT&T Inc., ZTE Corporation, Deutsche Telekom, Verizon Communications., Huawei Technologies Co., Ltd., Telefonaktiebolaget LM Ericsson, Juniper Networks, Samsung Electronics Co., Ltd., Mavenir, and Nokia.

Source: https://www.gminsights.com/industry-analysis/private-5g-network-market

 

global market network cell 5G communications networks will have logistics and supply chain applications, allowing users to more efficiently process shipments of export cargo and shipments of import cargo in international trade. RAN
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5G Solutions Expected to Play Vital role in the Growth of 5G Security Market

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According to a recent report by Future Market Insights (FMI), the 5G Security Market is expected to surpass a valuation of US$ 12 Bn by 2032 at a CAGR of over 26.4% during 2022 – 2032. Solutions segment is expected to account for largest market share throughout the forecast period. It is expected to grow at a CAGR of 25.8% in the next ten years. Solutions comprises of the necessary tools responsible to ensure safety. Some tools are next-generation firewalls, data loss prevention, antivirus/antimalware, DDoS protection, security gateway, and sandboxing which are used to ensure 5G security.

DLP instruments help to design data loss prevention methodologies by giving pre-portrayed approach controls to follow the advancement of data. It also hinders unapproved sharing, corrupting, as well as pull of data. The data loss is mainly done via malware attack and taking control of the system. According to Verizon’s 2021 Data Breach Investigations Report, malware was involved in nearly 15% of data breach. To reduce the malware attacks and security breaches companies are focused in 5G technology.

With the growing concern of consumers worldwide regarding their health and their growing annual healthcare budget, healthcare stakeholders are becoming richer every day. But, at the same time with the evolution of new technologies and their need for speed and automation have made them vulnerable to cyber threats. 5G capabilities have added numerous advantages to healthcare sector including speed, capacity, hyper-connectivity, low latency, and data-driven insights. The higher speed and lower latency offered by 5G can be a boon to the cyber attackers as it offers them opportunity to access more data due to hyper-connectivity.

Key Takeaways from the 5G Security Market Study

  • 5G Non-standalone is expected to hold the largest share in the architecture segment and is expected to grow at a CAGR of 24.9% in forecast period.
  • The U.S. holds a growth of CAGR 25.9% from 2022 to 2032.
  • The solutions segment is expected to emerge as the fastest-growing segment, registering a CAGR of 25.8% from 2022 to 2032.

“Companies implementing 5G technology need to focus on the security threats, 5G cloud infrastructure could make the ground breaking difference” says an FMI analyst.

Who is winning?

Leading players of 5G Security Market are focused in developing cloud infrastructure, because with the help of artificial intelligence and machine learning companies are automating the process and the data or formula details are stored in the cloud platform which can be accessed remotely. Key players present in the 5G Security Market industry are Ericsson, Palo Alto Networks, A10 Networks, Allot, Huawei, Nokia, Juniper Networks, Fortinet, Mobileum, ZTE among others.

Below enlisted are few of the recent developments in 5G Security Market:

  • In Mar 2022, Huawei, China Unicom, Partners Announced 5G Private Network PLUS Achievements. They are focused to provide high reliable campus networks, slice-based private network. China Unicom’s 5G Private Network PLUS Achievements were announced during MWC Barcelona 2022.
  • In Feb 2022, Ericsson announced that its 5G portfolio update has enabled energy efficiency. Seven new RAN products and solutions led by the flagship dual-band Radio 4490 which consumes 25% less power compared to current product.

Get More Valuable Insights

Future Market Insights, in its new offering, provides an unbiased analysis of the global 5G Security Market, presenting historical demand data (2019-2021) and forecast statistics for the period from 2022-2032. The study divulges compelling insights on the 5G Security Market based on Component (Solutions, Services) Network Component Security (RAN Security, Core Security) Architecture (5G NR Non-standalone, 5G NR Standalone) End User (Telecom Operators, Enterprises) Deployment Type (Cloud, On-Premises) Vertical (Manufacturing, Healthcare, Energy and Utilities, Retail, Automotive and Transportation, Public Safety, Media and Entertainment, Others) across five major regions.

These insights are based on a report on 5G Security Market by Future Market Insights

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Private LTE Market is Projected to Reach USD 13 Billion by 2026

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According to a recent study from market research firm Global Market Insights, The demand for the private LTE market is anticipated to grow at an incremental rate based on the increasing adoption of connected devices that require a reliable and secure communication network. Rapid urbanization and industrialization are driving the need for advanced communication technologies that are capable of handling smart logistics and manufacturing.

In order to keep up with the latest digital trends, workplaces are undertaking up-gradation activities such as implementing private LTE and industrial IoT networks. These upgrades can help enhance performance and productivity while ensuring minimal human intervention. Considering such aspects, Global Market Insights, Inc., estimates that the private LTE market might reach USD 13 billion by 2026.

The rising number of investments and developmental activities conducted by federal governments to promote the idea of smart cities could massively benefit the business outlook for private LTE providers over the predicted timeframe. However, high deployment costs pertaining to network upgrades could pose as one of the major dampening factors for this private LTE market.

The mining sector is steadily shifting towards remote applications and autonomous technologies to perform crucial tasks. Autonomous or remotely controlled equipment functioning through private networks could help mine owners to minimize human fatalities and accidents. Back in 2017, the mining industry saw nearly 17 fatalities that could be avoided by remote-controlled instruments.

The mining sector is one of the important aspects of the global economy and is integral to the infrastructure development of the nation. Mining corporations use digital solutions to adapt to the fluctuating demand, address the rising safety & environmental concerns, and control the operational costs. These solutions help introduce new levels of agility and automation to the mining facilities. It is speculated that the mining sector could spend nearly USD 2.9 billion on private networking by 2022.

In a recent turn of events, Canada based telecommunications company- Shaw Communications, had in October 2020, announced establishing its partnership with Nokia for the placement of Canada’s first industrial-grade Private LTE market network for Teck Resources Ltd’s mining systems. Labeled RACE21, the program is developed to transform the ways of mining by the company by harnessing innovation and technology. Besides, the network is also likely to offer larger connectivity and coverage at Teck’s Elkview Operations in British Columbia.

The rising adoption of smart connected systems across numerous industry verticals like transportation, urban planning, and manufacturing could enhance the deployment of private LTE networks across North America. The region controlled a major portion of the market share in 2019 and is predicted to maintain this trend by 2026.

Local agencies are also gaining interest in expanding their private LTE network. Citing an instance, Nokia along with Omega Wireless is working on launching 600 MHz private LTE network project that will support numerous critical applications for the New York Power Authority. The program intends to test the value of Nokia’s industrial-grade private LTE solution on Omega’s Band 71 spectrum.

Key Companies covered in the private LTE market are AT&T, Boingo, Casa Systems, Cisco, Druid Software, Ericsson, Future Technologies, General Dynamics, Huawei, Motorola, NetNumber, Nokia, PDV Wireless, Qualcomm, Rivada Networks, Ruckus Networks, Samsung, Sierra, SpiderCloud Wireless, Tait, Verizon, and ZTE.

Source: https://www.gminsights.com/pressrelease/private-lte-market