Private 5G Network Industry
The global private 5G network market was valued at USD 2.00 billion in 2023, with a projected compound annual growth rate (CAGR) of 54.1% from 2024 to 2030. The rapid expansion of this market is fueled by the demand for dedicated, secure, and high-performance connectivity that private 5G networks offer to businesses and governments. These networks enable the connection of more devices, enhance automation, and improve customer experiences, which are key factors driving their adoption across various sectors. Industries such as smart cities, where private 5G networks are used for traffic management, security, and other critical applications, are particularly benefiting from this technology.
Private 5G networks are being deployed by organizations across a wide range of industries, including manufacturing, utilities, transportation, logistics, retail, and agriculture, as well as by governments involved in smart city projects. The advantages of private 5G networks—such as ultra-fast speeds, heightened security, cost efficiency, reliability, prioritized network access, and a wider coverage range compared to Wi-Fi—are accelerating their adoption in these sectors. These benefits make private 5G networks highly attractive, contributing to the overall growth of the market.
As the number of connected devices continues to increase, many enterprises face challenges related to low coverage and network security due to congestion. Private 5G networks address these issues by offering dedicated network connectivity, which ensures enhanced security, better connectivity, and improved automation with lower latency. These attributes allow enterprises to provide a superior customer experience. Moreover, private 5G networks are critical for supporting advanced technological applications such as machine control systems, wireless ultra-high-definition (UHD) cameras, collaborative or cloud-based robots, and remote asset monitoring. The ability to support such sophisticated technologies is further driving the widespread adoption of private 5G networks across industries.
Gather more insights about the market drivers, restrains and growth of the Private 5G Network Market
Frequency Insights
In 2023, the Sub-6 GHz segment led the market.
- Sub-6 GHz operates in a lower frequency range, approximately between 1 GHz and 6 GHz, providing broader coverage but with limited speed compared to higher frequency bands.
- This wider coverage makes Sub-6 GHz especially suitable for real-world implementations, such as private 5G networks where enterprises need reliable connectivity over large areas.
- Additionally, the Sub-6 GHz spectrum has been used in previous-generation networks, making it a more accessible and cost-effective option for 5G applications, further driving growth in this segment.
The mmWave segment is anticipated to experience significant growth over the forecast period.
- Several federal governments in leading countries have released mmWave frequency bands to support private 5G services.
- For example, the Federal Communications Commission (FCC) has released various mmWave frequency bands, such as 24.25-24.45 GHz, 47.2-48.2 GHz, 24.75-25.25 GHz, and 38.6-40 GHz.
- Countries including Japan, South Korea, and Italy have also released mmWave frequencies to enhance data services.
- This focused initiative by key governments to release mmWave frequencies is expected to drive the growth of the mmWave segment over the next seven years.
Order a free sample PDF of the Private 5G Network Market Intelligence Study, published by Grand View Research.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc.
Phone: 1-415-349-0058
Toll Free: 1-888-202-9519
Email: sales@grandviewresearch.com
