Year | Value |
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2023 | USD 21.68 Billion |
2032 | USD 21.68 Billion |
CAGR (2021-2032) | 9.5 % |
Note – Market size depicts the revenue generated over the financial year
The 5G core market is currently expected to be worth $21.88 billion in 2023. By 2032, the market size is expected to remain at $21.88 billion. The steady market size, despite the forecasted growth, is a sign of the industry's maturity, a shift from rapid development to the optimization and improvement of existing technology. However, the compound annual growth rate (CAGR) of 9.5% between 2021 and 2032 reflects the rapid growth of the market. The growth of the market is mainly driven by the rapid increase in the demand for high-speed Internet access and the increasing number of IoT devices. In addition, the development of network virtualization and edge computing, as well as the growing demand for mobile broadband services, will also drive the market. These technological trends will help operators provide more efficient and flexible services and attract more customers. The main operators in the 5G core market, such as Ericsson, Nokia and Huawei, are actively involved in strategic cooperation and innovation. The recent strategic cooperation between operators and technology companies aims to enhance the ability of the network and improve the quality of services, thus ensuring the market's growth.
The 5G core market is experiencing significant growth in many regions. It is driven by the growing demand for high-speed, low-latency connections and the proliferation of IoT devices. In North America, the market is characterized by advanced technological development and heavy investments by major operators. Europe is undergoing a strong drive towards digital transformation, and 5G deployment is supported by a favorable regulatory environment. Asia-Pacific is the leader in 5G rollout, mainly due to the active role of governments and the high level of industry. Middle East and Africa are gradually adopting 5G and focusing on enhancing mobile broadband services. Latin America is just beginning to deploy 5G and is focusing on improving network coverage in both urban and rural areas.
“By 2025, it is estimated that the 5G network will connect up to 1.7 billion devices in the world, which will considerably increase the capabilities of the IoT.” — GSMA Intelligence
The 5G core market is a crucial part of the telecommunications industry, which is currently growing at a fast rate, driven by the rising demand for fast and reliable connections. The main drivers of this growth are the increasing number of IoT devices, which require seamless connections, and the growing demand for mobile broadband services. Moreover, regulatory initiatives to encourage digital transformation across a range of industries have boosted the market.
At present, 5G core technology has reached the stage of commercialization. The leaders of 5G are the United States’s Verizon Communications and Europe’s Deutsche Telekom. Their major applications include smart cities, driverless cars, and smart phones. The trend of the digital economy, which has been accelerated by the COVID pandemic, and the government’s effort to improve the country’s basic conditions, have led to a surge in the industry. Also, the development of network slicing and edge computing will make the use of resources more efficient and the service more convenient.
The market for 5G core equipment will grow significantly from 2023 to 2032, with a CAGR of 9.5%. The demand for high-speed mobile communication and the proliferation of IoT terminals are driving this market. By 2032, the number of IoT terminals will exceed 30 billion. The 5G core network is essential for implementing advanced applications such as AR, VR, and smart cities. The 5G core equipment market is expected to reach $21.68 billion by 2032, driven by the rapid spread of 5G technology.
Several technological drivers, such as network slicing and edge computing, will accelerate the development of 5G core networks. These innovations will enable operators to offer a range of services, each tailored to a particular group of users. This will improve efficiency and enhance customer satisfaction. In addition, government policies and investments in telecommunications will play a key role in facilitating the transition to 5G. Meanwhile, the rise of private 5G networks and the integration of artificial intelligence in network management will reshape the competition landscape and open up new opportunities for market participants. The evolution of the 5G ecosystem will continue to unfold in the coming years, and the various players will have to stay agile to take advantage of the emerging trends and ensure the industry’s sustainable growth over the next decade.
Covered Aspects:Report Attribute/Metric | Details |
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Market Size Value In 2023 | USD 2.47 Billion |
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