5G Core Market Projected to Reach US$ 1.1 Billion by 2032, Growing...

5G Core Market Projected to Reach US$ 1.1 Billion by 2032, Growing at a CAGR of 26.7%

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Veröffentlicht 2024-06-10 04:45:19

In 2021, 5G Core Market global revenue was estimated to be US$ 1.1 billion. In addition, a CAGR of 26.7% is predicted for the market's growth from 2022 to 2032.

The component that is expected to generate the most revenue is the solution, with a projected growth rate of 25.5% between 2022 and 2032.

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https://www.factmr.com/connectus/sample?flag=S&rep_id=7197

In the telecommunications domain, the introduction of 5G technology marks the dawn of a fresh era in connectivity, offering swifter speeds, reduced latency, and improved reliability. Central to this transformative transition is the 5G core network, a pivotal element that forms the bedrock for delivering advanced services and applications of the future. With the increasing need for rapid, seamless connectivity, the 5G core market is experiencing remarkable growth and advancement, fundamentally altering the telecommunications sector as we perceive it.

Unleashing the Potential of 5G Core

The 5G core network serves as the foundation of the 5G infrastructure, facilitating the management of data flow and facilitating smooth communication among devices, applications, and networks. Unlike earlier versions, the 5G core is tailored to accommodate various use cases, ranging from ultra-reliable low-latency communication (URLLC) for critical applications to massive machine-type communication (mMTC) for IoT devices and services.

Key Companies Profiled:

Ericsson
Huawei
Nokia
Samsung
ZTE
Cisco
Mavenir
NEC
Oracle
Athonet

Driving Forces Behind Market Growth

Numerous factors are propelling the rapid expansion of the 5G core market. The surge in bandwidth-intensive applications like video streaming, online gaming, and augmented reality (AR) and virtual reality (VR) experiences is driving the need for high-speed connectivity. Additionally, the growth of IoT devices, smart cities, and autonomous vehicles demands a resilient network infrastructure capable of supporting diverse connected devices and services.

Furthermore, advancements in cloud computing, edge computing, and network virtualization empower operators to deploy agile and scalable 5G core solutions. This leads to reduced operational costs and quicker deployment of new services. Moreover, the ongoing global deployment of 5G networks, supported by government initiatives and regulations, stimulates investment in 5G core infrastructure and fosters market expansion.

Market Outlook and Future Trends

The future prospects for the 5G core market are highly optimistic, with analysts foreseeing remarkable growth in the years ahead. According to market research predictions, the 5G core market is expected to exceed USD 1.1 billion by 2032, with a compound annual growth rate (CAGR) of over 26.7%. This upward trend is driven by the expanding utilization of 5G technology across diverse sectors and the introduction of advanced services like network slicing, edge computing, and private 5G networks.

Competitive Landscape:

The following are some recent advancements made by significant 5G core providers:

In a collaborative lab demonstration, Ericsson and Vodafone successfully completed the UK's first 5G independent network cutting preliminary on March 15, 2022, to stimulate interest in 5G availability and committed execution for buyers and commercial clients.

On February 23, 2021, NOKIA announced the launch of its Delos drive, a novel and inventive approach to handling the complexity of 5G core programming delivery and tasks, along with the establishment of CI/CD Services to support communication with major suppliers.

Samsung Electronics Co., Ltd. declared in February 2022 that it will keep working with suppliers of servers, cloud platforms, and chipsets to develop the 5G vRAN ecosystem.

Read More: https://www.factmr.com/report/5g-core-market

Market Segments Covered in 5G Core Industry Analysis

By Component :
- Solution
- Services
  - Professional services
  - Managed Services
By Network Functions :
- Access and Mobility Management Function
- Session Management Function
- User Plane Function
- Policy Control Function
- Network Exposure function
- NF Repository Function
- Unified Data Management
- Authentication Server Function
- Application Function
- Network Slice Selection function
- Others
By End-User :
- Telecom Operators
- Enterprises
By Deployment Model :
- Cloud
- On-Premises

Moreover, the evolution of 5G standards and specifications, such as 5G standalone (SA) architecture and network slicing capabilities, will further drive innovation and market expansion. Additionally, the convergence of 5G with emerging technologies such as artificial intelligence (AI), Internet of Things (IoT), and blockchain will unlock new opportunities for revenue generation and differentiation in the highly competitive telecommunications market.