The Private 5G network market expected to witness significant growth between 2024 and 2032 due to higher adoption in integrating 5G private networks with edge computing.
The growth of the sector is fueled by rapid technological developments. The evolution of Industry 4.0 and the Internet of Things (IoT) requires high-performance, low-latency connectivity, leading industries to adopt private 5G networks.
Industries dealing with sensitive data and mission-critical operations, such as manufacturing, healthcare and finance, prefer private 5G networks to ensure strong cybersecurity measures and reliable connectivity. The ability to customize and control network architecture in a private environment enhances data protection, mitigates cybersecurity risks, and ensures consistent, reliable performance. This increased focus on security and reliability where data integrity and uninterrupted operations are important contributes to the positive market outlook.
The Power and Utilities sector is poised to generate steady demand through 2032 due to the transformative impact on critical infrastructure. Private 5G networks offer unparalleled connectivity and data processing capabilities, favoring use in smart grids, renewable energy integration and efficient utility management. These networks enable real-time monitoring and control of energy distribution, optimizing network performance and facilitating the integration of renewable sources. The low-latency and high-reliability characteristics of 5G private networks enhance the efficiency of shared operations, supporting applications such as predictive maintenance and asset tracking.
The hardware segment is poised to grow at a significant pace during 2024-2032. Advanced radio access network (RAN) elements, small cells and custom base stations are key elements in building robust, dedicated 5G networks. These devices not only enhance network coverage and capacity, but also allow industries to develop private networks tailored to their specific needs. The development of compact and energy-efficient 5G hardware solutions enables seamless integration into various operational environments, from manufacturing plants to large-scale enterprises.
The size of Europe’s private 5G network industry is expected to expand rapidly through 2032, driven by strong regulatory support and rapid adoption across the sector. European governments, recognizing the transformative potential of 5G technology, are actively promoting an environment that favors the development of private networks. Industries such as manufacturing, healthcare, and logistics are embracing private 5G networks to improve operational efficiency, due to the technology’s low latency, high reliability, and ability to support mission-critical applications.
Some of the leading players in the 5G private networks 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
