Global private 5G market to grow at a CAGR of 42.3% from 2023 to 2028

The global private 5G market is expected to be valued at USD 2.0 billion in 2023 and is projected to reach USD 11.8 billion by 2028; it is expected to grow at a CAGR of 42.3% from 2023 to 2028, according to Research and Markets.

The report encompasses comprehensive insights into the private 5G market, delving into critical factors such as drivers, constraints, challenges, and opportunities shaping its growth trajectory.

It offers an in-depth analysis of major industry players, furnishing details about their business profiles, product portfolios, strategic initiatives, including contracts, partnerships, agreements, new product and service launches, mergers and acquisitions, as well as recent developments within the private 5G market.

Europe’s industrial landscape and businesses are currently undergoing significant digital transformation endeavors. Private 5G networks are pivotal in facilitating this transformation by delivering the essential connectivity required to support advanced technologies like IoT, automation, and data analytics.

With a robust manufacturing base and leadership in Industry 4.0 initiatives, Europe relies on private 5G networks to drive smart manufacturing, optimize processes, and seamlessly integrate robotics and automation across diverse industrial sectors. The increasing deployment of IoT devices and the evolution of smart cities have heightened the demand for dependable, high-speed connectivity. Private 5G networks provide the indispensable infrastructure to underpin these applications, enhancing efficiency, sustainability, and overall quality of life.

The widespread integration of IoT devices across various industries necessitates a connectivity solution capable of meeting the requirements for reliable, low-latency, and high-bandwidth communication. Private 5G networks offer the foundational infrastructure to support the extensive proliferation of IoT devices, enabling businesses to harness the full potential of IoT for enhanced operational efficiency, data-driven insights, and fostering innovation.

Key players in the private 5G market landscape include industry leaders such as Huawei Technologies Co., Ltd. (China), Telefonaktiebolaget LM Ericsson (Sweden), Nokia (Finland), Samsung Electronics Co., Ltd. (South Korea), and ZTE Corporation (China).

Additionally, the report provides a competitive analysis encompassing emerging startups within the private 5G market ecosystem. Research and Markets