Global 5G Core Market Growth, Business Strategies and Forecast by 2026 | Exclusive Report by Facts Factors
According to Facts & Factors, the global 5G core market size in terms of revenue was worth around USD 349.4 million in 2019 and is expected to reach USD 13163.1 million by 2026, growing at a CAGR of 69.3% from 2020 to 2026. The global 5G core market is projected to grow at a significant growth rate due to a number of driving factors.
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The 5G core network was built from the ground up to support both virtualized and cloud-native implementations, including all networking functions and services that are entirely software-based. Before traffic is routed to operator networks or the Internet, the 5G Core authenticates users and devices, applies customised rules, and tracks device mobility.
- Development of smart infrastructure paired with the demand for private 5G across enterprises
The market is expected to grow during the forecast period due to the development of smart infrastructure and rising demand for cloud-native and service-based architecture. However, data security concerns in the 5G core network may stymie 5G core network adoption during the forecast period. Furthermore, consumer demand for video, as well as the industry’s shift towards the use of cloud technology, have contributed to the rapid increase in the amount of data carried by cellular networks. 5G core equipment vendors have a lot of room to grow.
As a result of automation and digitalization, every business line has seen a significant shift in the implementation of mission-critical business applications. To meet the growing demand for operational agility among consumers and businesses, most industries have undergone digital transformations. Private LTE can be used more widely in enterprise networks due to 5G’s inherent ability to embrace network slicing. Technological advancements and the changing environment have paved the way for the development of new business technologies in a variety of industries.
- North America is expected to dominate growth in the global 5G core market.
North America led the 5G core market, followed by Asia-Pacific and Europe, and is expected to do so until the end of the forecast period. The United States led the North American 5G Core market, followed by Canada and Mexico. The US has a sizable market share in North America, with notable companies like Affirmed Networks, Mavenir, Cisco, HPE, Oracle, and Casa Systems making significant inroads. Asia-Pacific has the highest CAGR during the forecast period. Europe ranked second in terms of CAGR. The digital transformation trend in business is expected to accelerate over the projected era.
Among the companies represented are Oracle, Athonet, Casa Systems, Mavenir, IPLOOK, Cumucore, ZTE, Nokia, Ericsson, Huawei, Metaswitch, Samsung, Affirmed Networks, NEC, Cisco, HPE, and Druid Software.
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- North America
- The U.S.
- The UK
- Rest of Europe
- Asia Pacific
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
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