The global private 5G network market size was estimated at USD 2.00 billion in 2023 and is expected to grow at a CAGR of 54.1% from 2024 to 2030. Private 5G networks offer businesses and governments dedicated, secure, and high-performance connectivity. This allows them to connect to more devices, improve automation, and deliver better customer experiences. These benefits are driving the adoption of private 5G networks in various industries, including smart cities that rely on private 5G for applications such as traffic management and security, among others.

Cellular technology, in the form of private 5G networks, is being used by businesses, organizations, and local governments across various industries. These industries include manufacturing, utilities, transportation, logistics, retail, agriculture, and those involved in smart city initiatives. The benefits of private 5G networks, such as ultra-fast speeds, improved security, cost efficiency, reliability, prioritized network access, and extended range compared to Wi-Fi, are driving their adoption across these industries. Thus, various benefits provided by private 5G networks are contributing to the overall market growth.

Gather more insights about the market drivers, restrains and growth of the Global private 5G network market

Private 5G Network Market Segments Highlights:

1. The hardware segment dominated the market in 2023 and accounted for a 53.88% share of the global revenue. The dominance of this segment can be attributed to the increased deployment of core networks and backhaul and transport equipment across the globe.

2. he services segment is projected to witness significant growth from 2024 to 2030. The services segment is further segregated into installation & integration, data services, and support & maintenance.

3. The Sub-6 GHz segment dominated the market in 2023. Sub-6 GHz offers a lower frequency range of around 1 GHz to 6 GHz and is limited in terms of speed. However, it offers larger coverage, which makes it more suitable for real-world implementation, especially in private 5G networks where enterprises are looking for coverage over a large area.

4. The mmWave segment is projected to witness significant growth during the forecast period. Few federal governments across leading countries have released mmWave frequency bands to provide private 5G services.

5. The licensed segment is expected to register a significant CAGR from 2024 to 2030. A licensed spectrum is a bit costlier than an unlicensed/shared spectrum, as a company needs to buy an entire license for a particular spectrum bandwidth for enhanced and secured internet connectivity.

6. The small & medium enterprises segment is expected to grow significantly during the forecast period. Due to the higher costs and deployment complexities of private 5G networks, its adoption has been slower among small & medium enterprises.

7. The manufacturing/factories segment dominated the market in 2023 and is expected to grow at the fastest CAGR from 2024 to 2030. The growth is attributed to the high demand for private 5G services to provide seamless connectivity to several devices, such as Ultra-HD cameras, extended reality headsets, and Automated Guided Vehicle Systems (AGVs).

8. North America dominated the private 5G network market and accounted for a 31.64% share in 2023. The regional market’s dominant share can be attributed to the presence of various private 5G solution providers present in the region including Qualcomm Technologies, Inc., AT&T Inc., and Verizon Communications, among other players.

9. The private 5G network market in the U.S. is expected to grow at a significant CAGR of 56.2% from 2024 to 2030.

10. The private 5G network market in Europe is expected to grow at a significant CAGR from 2024 to 2030. This market is experiencing rapid growth, driven by demand for secure, high-speed connectivity for applications such as industrial applications, smart cities, and IoT solutions.

11. The private 5G network Asia Pacific market is expected to register the highest CAGR from 2024 to 2030.The growth is attributed to the presence of several manufacturers, along with their significant investments in building automated factories in the region.

12. The growing investment in 5G networks in the Middle Eastern region is creating significant growth opportunities for the MEA market.

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Private 5G Network Market Segmentation

Grand View Research has segmented the global private 5G network market based on component, frequency, spectrum, enterprise size, vertical, and region:

Private 5G Network Component Outlook (Revenue, USD Million, 2020 - 2030­)

1. Hardware

   1. Radio Access Network

   2. Core Network

   3. Backhaul & Transport

2. Software

3. Services

   1. Installation & Integration

   2. Data Services

   3. Support & Maintenance

Private 5G Network Frequency Outlook (Revenue, USD Million, 2020 - 2030)

1. Sub-6 GHz

2. mmWave

Private 5G Network Spectrum Outlook (Revenue, USD Million, 2020 - 2030)

1. Licensed

2. Unlicensed/Shared

Private 5G Network Enterprise Size Outlook (Revenue, USD Million, 2020 - 2030)

1. Small & Medium Enterprises

2. Large Enterprises

Private 5G Network Vertical Outlook (Revenue, USD Million, 2020 - 2030)

1. Manufacturing/Factories

   1. Automotive

   2. Electrical & Electronics

   3. Food & Beverages

   4. Pharmaceuticals

   5. Heavy Machinery

   6. Clothing & Accessories

   7. Others

2. Energy & Utilities

3. Transportation & Logistics

4. Defense

5. Enterprises & Campus

6. Mining

7. Healthcare/Hospitals

8. Oil & Gas

9. Retail

10. Agriculture

11. Smart Cities

12. Others

Private 5G Network Regional Outlook (Revenue, USD Million, 2020 - 2030)

1. North America

2. Europe

3. Asia Pacific

4. South America

5. Middle East & Africa (MEA)

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