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