Private 5G Network Market Size

Private 5G Network Market size is projected to reach USD 47 Billion by the end of 2036, growing at a CAGR of 40% during the forecast period, i.e., 2024-2036. In the year 2023, the industry size of the private 5G network was USD 2 Billion. The market expansion is due to the growing number of web users, expanding speculations, improvements to the innovation framework, and cheaper information plans.

Moreover, with innovation entering, the number of gadgets being utilized has expanded, which increases the number of associated gadgets and the request for moo inactivity and higher transfer speed systems that can be given by private 5G networks. The number of internet users worldwide reached 5.35 billion in January 2024, accounting for 66.2 percent of the global population. 

In addition to these, factors that are believed to fuel the market growth of private 5G network include recent developments. For instance, Ericsson's Cradlepoint announced the introduction of a subscription-based NetCloud Private Networks solution that will supplement Ericsson's Private 5G solution, which is mainly intended for industrial uses where latency, high dependability, low and business-critical capabilities are crucial.