Private 5G as a Service Market Trends, Future Estimations, and...

Private 5G as a Service Market Trends, Future Estimations, and Imminent Investment Pockets 2023–2032

Posted 2023-12-01 07:28:17

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Private 5G as a Service Market Insights:

The global private 5G as a service market demonstrates a significant revenue rise in the future. The surging demand for reliable and ultra-latent connectivity will drive the market growth. Market Research Future (MRFR) confirms that the global private 5G as a service market will grow from USD 1.9 BN in 2022 to USD 32.302 BN by 2032, registering a 37% CAGR throughout the assessment period (2023- 2032).

Private 5G-as-a-service ensures high bandwidth, low latency, and reliable wireless connectivity for enterprises, delivering a simple and flexible pay-as-you-go solution. The service can be customized to the users' specific needs and implemented in an agile and time-bound manner. To reduce the complexity of deployment, enablers pre-integrate the 5G stack from multiple product vendors and test against different use case requirements.

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Key Players:

Amazon Web Services, Inc.
Verizon
AT and T Intellectual Property
Anterix Inc.
Nokia
Mavenir
Kyndryl Inc.
Cisco Systems, Inc.
Ericsson
Infosys Limited,

are the notable vendors in the Private 5G as a Service market.

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Private 5G as a Service Market Regional Analysis:

North America dominates the global private 5G as a service market, witnessing vast deployments across the region. Besides, vast digitization in many enterprises across the region boosts the private 5G as a service market demand. The market is also majorly driven by the increasing need for solutions to safely & effectively connect and manage many IoT devices and the proliferation of IoT devices. Increasing numbers of allocation and subscribers in government organizations substantiate the private 5G as service market revenues

Private 5G as a Service Market Segmentation:

The market report is segmented into components, frequency bands, deployment models, spectrums, industry verticals, applications, and regions. The component segment comprises hardware, software, and services. The frequency band segment comprises Sub-6 GHz and mmWave. The spectrum segment comprises licensed and unlicensed/shared. The industry vertical segment comprises office buildings, BFSI, manufacturing, transportation & logistics, healthcare, media & entertainment, and others. The region segment comprises the Americas, Europe, Asia-Pacific, and the rest of the world.

Private 5G-as-a-service is managed using a unified management solution, providing real-time insights into the operation and performance of the 5G private network. Besides, rapid developments in IoT and growing Industrial Internet of Things (IIoT) applications, such as collaborative robots, industrial cameras, and industrial sensors, boost the private 5G as a service market size. Also, the increasing demand for high data speed & connectivity and ultra-reliable low latency connection to revolutionize business models is a key driver accelerating the private 5G as a service market shares.