North American Market Statistics
The private 5G network market in North America is anticipated to hold a share of about 35% by the end of 2036. Market growth in the region is expected on account of the presence of major solution providers like Qualcomm Technologies, Inc. and significant investments from some of the largest telecommunications companies, including AT&T and Verizon Communications, as they deploy their private 5G network infrastructure.
For instance, the new RAN Automation Platform for Qualcomm Private Networks was introduced by Qualcomm Technologies, Inc. to enable private networks to realize the full promise of 5G by simplifying and expediting the planning and provisioning of automated RAN operations and to provide complete, pre-integrated 5G private network solutions that are prepared for use cases relevant to particular industry verticals.
Additionally, market growth in North America is also impelled by the increasing demand for bandwidth with low latency connectivity within sectors such as public safety, oil and gas, and airspace security.
APAC Market Analysis
The Asia Pacific region will also encounter tremendous growth for the private 5G network market during the forecast period and will hold the second position, credited to the presence of manufacturers and their investments in automated production in the region. Significant investments to acquire the 5G spectrum are being made by key countries in the region, such as China, Japan, South Korea, and Australia, contributing to market growth.
Large-scale adoption of IoT technology and the development of intelligent cities are underway in the Asia-Pacific region. Massive connectivity needs for loT are supported by private 5G network applications and enable a seamless integration of smart city technologies.
Furthermore, the adoption of advanced technologies, including 5G, is being actively encouraged by governments in the Asia-Pacific region. According to the forecast, by the end of 2030, 5G penetration will reach 41 percent, up from 4 percent at the end of 2022.
Author Credits: Abhishek Verma
Copyright © 2024 Research Nester. All Rights Reserved
FREE Sample Copy includes market overview, growth trends, statistical charts & tables, forecast estimates, and much more.
Have questions before ordering this report?