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Growing Demand for Cloud-Native & Service-Based Architecture to Drive the Global 5G Core Market: MRFR

Market Research Future (MRFR) will be publishing a cooked research report on the “Global 5G Core Market” that contains the information from 2024 to 2032. 

MRFR has identified the following companies as the key players in the global 5G core market— The Nokia Corporation (Ireland), Telefonaktiebolaget LM Ericsson (Sweden), Huawei Technologies Co.Ltd.(China), ZTE Corporation (China), Samsung Electronics Co.Ltd. (South Korea), Affirmed Networks (US), Mavenir (US), NEC Corporation (Japan), Cisco Systems Inc. (US), Hewlett Packard Enterprise Development LP (US), Oracle Corporation (US), Athonet (Italy), Casa Systems (US), Cumucore (Finland), and Druid Software (Ireland).

Market Highlights

The global 5G core market is projected to be valued at USD 21.68 billion by the end of 2032, registering a CAGR of 9.50% during the forecast period.

The 5G core NFs are placed on a widely dispersed public cloud architecture, allowing for one or more geographic locations both within the operator's premises and in other regions. Secure and dependable wireless infrastructure for industrial applications is supported in cloud deployments.

The primary factor driving the global 5G core market the IoT and artificial intelligence (AI), machine learning (ML), and cloud technology have been among the most important trends in high-tech over the past couple of years. It has developed at an astonishing speed since its inception, often rapidly changing direction along its way. 5G networks are at the forefront of the development of cellular mobile communications. 5G introduces a vastly enhanced foundation for delivering scalable and dependable connectivity to the rest of the world. The technology is intended to deliver high data rates with little latency. These two properties enable data to be sent between two or more places in real time.

Increased risks from big supplier reliance: a high reliance on a single supplier raises the danger of supply disruption and its implications, resulting from a business failure. Threats to network availability and integrity will become major security concerns: in addition to confidentiality and privacy concerns, the integrity and availability of 5G networks, which are expected to become the backbone of many critical IT applications, will become major national security concerns and a major security challenge from an EU perspective

COVID-19 Impact Analysis

The global COVID-19 outbreak has wreaked havoc on enterprises all around the globe. However, this condition does not pose an insurmountable obstacle. We're starting to notice that the magnitude of the impact differs by country and industry. Impact occurs at different times and for different lengths of time in different enterprises. While industry professionals and analysts have differing perspectives on how this influence manifests, one thing is certain: the epidemic has transformed the way we do business. Many CSPs throughout the world began experiments and rollouts of 5G networks in the year 2019.

The significant weaknesses the IT industry is facing now are due to the fall in the economy, as many companies are forced to ask their employees to work from home (remotely), considering public health concerns. Due to this, there is a massive loss of opportunity for many companies that have international dealers. For example, Apple Inc. is estimated to have at least a 10% fall in its shares because of the lack of availability of iPhones in the market. The parts that are required to build the iPhones are supposed to come from China, and it is facing a major lockdown.

Segment Analysis

The global 5G Core market has been segmented on the basis of component, deployment mode, network functions, end-user, and region.

By component, the global 5G core market, has been segmented into solutions and services, Further services is bifurcated into professional services, managed services

By deployment mode, the 5G Core market has been segmented into cloud and on-premises. The cloud segment accounted for a larger market share of 71.2% in 2020, with a market value of USD 506.8 million; it is expected to register the highest CAGR of 57.1% during the forecast period.

Based on network functions, the 5G Core market has been divided into AMF (Access and Mobility Management Function), SMF (Session Management Function), UPF (User Plane Function), PCF (Policy Control Function), NEF (Network Exposure Function), NRF (NF Repository Function), UDM (Unified Data Management), AUSF (Authentication Server Function), AF (Application Function), NSSF (Network Slice Selection Function) and others.

By end-user, the 5G Core market has been segmented into consumer and enterprises. The consumer segment accounted for a larger market share of 79.2% in 2020, with a market value of USD 563.9 million; it is expected to register a CAGR of 34.6% during the forecast period.

Key Findings of the Study:

  • The global 5G core market is projected to reach a value of USD 21.68 billion by 2032, with a CAGR of around 9.50% during the forecast period from 2024 to 2032.

  • Asia Pacific accounted for the largest market share in 2020; this is due to rise in upgrades and demand for innovative technologies has driven the market in this region.

  • In Europe, the UK is expected to exhibit the fastest CAGR of 79.3% during the projected period. The developing smart infrastructure and requirement of high speed, low latency networks in different areas such as the automation industry is expected to boost the market's growth in Europe.

  • The North America market is growing die to the rising urbanization in Canada is responsible for the growth of the 5G Core market.

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Companies Covered 15
Pages 141
Certified Global Research Member
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