Private 5G Network Market Trends

Growth Drivers

• Private 5G network in healthcare - Fast and extensive medical imaging data transfer is made possible by private 5G, which can also provide a better connection since it can be customized to match the unique requirements of healthcare institutions.According to a survey, more than 70% of healthcare organizations intend to install private 5G networks to provide telemedicine services that are faster and more secure.
• Development of smart infrastructure - For sites that need a lot of data but are limited by geography, such as a port, tunnel, water treatment plant, or parking lot, a private 5G smart city network is perfect to facilitate the connection of diverse devices and sensors, offering real-time data and insights to facilitate improved resource management and decision-making.

Challenges

• Stability integration in Wi-Fi communication technology - Several businesses are running day-to-day operations with wireless network technology. With the wide coverage of the next-generation wireless network, employees can stay in contact with each other from all parts of their work or building. When wireless products and smart devices are installed in enterprises, operating costs will be reduced, and a good return on investment can be obtained.The key obstacles to market growth are the widespread adoption of fiber technology by companies and its high levels of acceptance.
• Lack of standardization is likely to hinder market share during the forecast timeline.
• Integration with the legacy system is expected to pose limitations on the market demand for private 5G networks in the upcoming period.