Global 5G Core Market Size By Solution Type, By Deployment Type, By End-user Industry, By Geographic Scope And Forecast
Published Date: August - 2024 | Publisher: MIR | No of Pages: 320 | Industry: latest updates trending Report | Format: Report available in PDF / Excel Format
View Details Download Sample Ask for Discount Request CustomizationGlobal 5G Core Market Size By Solution Type, By Deployment Type, By End-user Industry, By Geographic Scope And Forecast
5G Core Market Size And Forecast
5G Core Market size was valued at USD 3.4 Billion in 2023 and is projected to reach USD 37.97 Billion by 2031, growing at a CAGR of 41.10% during the forecast period 2024-2031.
The 5G core market encompasses the infrastructure and software solutions that form the backbone of 5G networks. It includes hardware components such as servers, routers, and switches, as well as software components like virtualized network functions (VNFs), network slicing capabilities, and orchestration platforms. The 5G core is vital for delivering the high-speed, low-latency, and reliable connectivity required for various applications across industries, including IoT, autonomous vehicles, augmented reality, and smart cities.
Global 5G Core Market Drivers
The market drivers for the 5G Core Market can be influenced by various factors. These may include
- Growing Need for High-Speed Data Services As data-hungry apps like online gaming, video streaming, and Internet of Things devices proliferate, there is a growing need for high-speed data services that 5G networks can effectively supply.
- Increasing Use of IoT Devices As the Internet of Things (IoT) expands quickly, more and more industries are utilizing IoT devices for automation, tracking, and monitoring. Adoption of 5G core solutions is fueled by 5G networks’ scalability, low latency, and high device density, which are necessary to handle the vast number of IoT connections.
- The emergence of edge computing can be attributed to its capacity to enable real-time applications and minimize latency. Edge computing includes processing data closer to the source rather than in centralized data centers. The demand for 5G core solutions is increased by the fact that 5G core networks enable edge computing by offering the connection and infrastructure required to deliver low-latency services.
- Demand for Network Slicing Using a shared physical infrastructure, network slicing enables operators to build many virtual networks, each suited to a different use case with a different set of capacity, latency, and reliability requirements. The deployment of 5G core solutions is fueled by the support for network slicing provided by 5G core networks, which allows operators to provide unique services to a range of industries, including manufacturing, healthcare, and the automobile industry.
- Enabling Technologies In order to improve security, automate tasks, and maximize network performance, telecommunications networks are progressively integrating enabling technologies like machine learning and artificial intelligence (ML and AI). 5G core networks act as a stimulus for the adoption of 5G core solutions by offering the scale and flexibility needed to implement AI and ML applications.
- Government Initiatives and Investments To promote economic growth, increase competitiveness, and support efforts for digital transformation, governments all over the world are making investments in 5G infrastructure. The deployment of 5G networks is fueled by these investments, which in turn raises the need for 5G core solutions.
- Demand for Improved Mobile Broadband In order to accommodate bandwidth-intensive applications like augmented reality (AR), virtual reality (VR), and streaming ultra-high definition video, consumers are calling for faster and more dependable mobile broadband services. The adoption of 5G core solutions is fueled by operators’ ability to provide improved mobile broadband experiences with lower latency and better throughput thanks to 5G core networks.
Global 5G Core Market Restraints
Several factors can act as restraints or challenges for the 5G Core Market. These may include
- High Initial Investment Costs The rollout of 5G core networks necessitates a large initial outlay for equipment, infrastructure, and technological advancements. Some operators, especially smaller ones, may be discouraged by this and reluctant to make the significant initial capital investment.
- Complexity of Network Integration It can be difficult and complex to integrate 5G core networks with legacy systems and current infrastructure. Operators may have to deal with compatibility problems, interoperability problems, and the requirement for thorough testing and validation, all of which can cause delays in deployment and raise expenses.
- Regulatory and Spectrum Challenges Operators aiming to implement 5G networks face difficulties due to varying regulatory requirements and spectrum availability in different countries. The introduction of 5G services may be slowed down and operational complexity may rise due to spectrum auctions, licensing processes, and regulatory standard compliance.
- Security and Privacy Issues Because 5G networks are more connected, virtualized, and utilize cutting-edge technology like edge computing and network slicing, they pose new security and privacy threats. The necessity for operators to adhere to strict privacy regulations and invest in strong security measures may increase the complexity and cost of 5G deployments.
- Inadequate Infrastructure and Coverage Although 5G networks are being deployed quickly, there are still many places with inadequate coverage, especially in rural and isolated locations. Delays in the general adoption of 5G services can occur from the time, money, and effort required to build out the infrastructure needed to increase coverage in conjunction with local authorities.
- Interference and Spectrum Congestion As more devices and applications link to 5G networks, there is a chance that interference and spectrum congestion may arise, which will lower the dependability and performance of the network. To lessen these difficulties, operators must invest in technologies like dynamic spectrum sharing and manage spectrum effectively.
- Use Cases and End-User Adoption The availability of compelling use cases and end-user adoption are critical to the success of 5G. While there is a lot of potential for cutting-edge applications like industrial automation, driverless cars, and smart cities, achieving these use cases will require cooperation amongst ecosystem participants and the removal of obstacles like cost, complexity, and legal restrictions.
Global 5G Core Market Segmentation Analysis
The Global 5G Core Market is segmented on the basis of Solution Type, Deployment Type, End-user Industry, and Geography.
5G Core Market, By Solution Type
- Virtualized Network Function (VNF) These are software-based network functions that run on virtualized infrastructure, enabling operators to deploy and manage network services more flexibly and efficiently.
- Containerized Network Function (CNF) Similar to VNFs, CNFs are network functions packaged as lightweight containers, offering advantages in terms of agility, scalability, and resource utilization.
- Physical Network Function (PNF) These are traditional hardware-based network functions that may still be deployed in certain scenarios, particularly in legacy networks or where specific performance requirements dictate the use of dedicated hardware.
5G Core Market, By Deployment Type
- Cloud-based Deployment 5G core functions are deployed and managed in cloud environments, offering scalability, flexibility, and cost efficiency.
- On-premises Deployment Some operators may choose to deploy 5G core functions on-premises, either for specific use cases that require low latency or for regulatory compliance reasons.
5G Core Market, By End-user Industry
- Telecommunications Operators deploy 5G core networks to provide enhanced mobile broadband services, support IoT applications, and enable new revenue-generating services.
- Enterprises Enterprises across various industries leverage 5G core networks to enable digital transformation initiatives, implement private networks, and support mission-critical applications such as industrial automation and remote healthcare.
- Government and Public Sector Governments and public sector organizations utilize 5G core networks for smart city initiatives, public safety applications, and infrastructure modernization projects.
5G Core Market, By Geography
- North America Market conditions and demand in the United States, Canada, and Mexico.
- Europe Analysis of the 5G Core Market in European countries.
- Asia-Pacific Focusing on countries like China, India, Japan, South Korea, and others.
- Middle East and Africa Examining market dynamics in the Middle East and African regions.
- Latin America Covering market trends and developments in countries across Latin America.
Key Players
The major players in the 5G Core Market are
- Ericsson
- Huawei
- Nokia
- Samsung
- ZTE
- Cisco
- Mavenir
- Affirmed Networks
- HPE
- UTStarcom
Report Scope
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| STUDY PERIOD | 2020-2031 |
| BASE YEAR | 2023 |
| FORECAST PERIOD | 2024-2031 |
| Historical Period | 2020-2022 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | Ericsson, Huawei, Nokia, Samsung, ZTE, Mavenir, Affirmed Networks, HPE, UTStarcom. |
| Segments Covered | By Solution Type, By Deployment Type, By End-user Industry, and By Geography. |
| Customization scope | Free report customization (equivalent to up to 4 analyst’s working days) with purchase. Addition or alteration to country, regional & segment scope. |
Analyst’s Take
The 5G core market is poised for significant growth as telecom operators and enterprises increasingly adopt 5G technology to unlock new opportunities and enhance connectivity. Factors such as the rising demand for high-speed data services, the proliferation of connected devices, and the need for network efficiency are driving the expansion of the 5G core market. As organizations seek to harness the full potential of 5G networks, investments in advanced core infrastructure and software solutions will continue to accelerate, shaping the future of communication and enabling innovative applications and services.
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