PUBLISHER: Polaris Market Research | PRODUCT CODE: 1831703
PUBLISHER: Polaris Market Research | PRODUCT CODE: 1831703
The private 5G network market size is expected to reach USD 193.79 billion by 2034, according to a new study by Polaris Market Research. The report "Private 5G Network Market Share, Size, Trends, Industry Analysis Report By Component (Hardware, Software & Services), By Operational Frequency, By Spectrum, By Vertical, By Region; Market Forecast, 2025-2034" gives a detailed insight into current market dynamics and provides analysis on future market growth.
A private 5G network can be defined as a dedicated wireless communication infrastructure designed to deliver secure, high-speed, and low-latency connectivity for enterprise-specific applications. The market is witnessing growth due to the increasing integration of private 5G with advanced automation technologies, enabling industries to enhance operational efficiency, streamline workflows, and support mission-critical processes in real time. This convergence allows organizations to unlock the potential of AI, IoT technology, and edge computing within controlled network environments, ensuring both performance consistency and data confidentiality. The role of private 5G as a foundation for next-generation industrial innovation continues to strengthen as enterprises aim for greater control over their connectivity solutions.
The private 5G network market is driven by the rise of ecosystem collaboration among technology providers, network operators, and cloud service companies. This collaborative approach accelerates the deployment of scalable and flexible network solutions tailored to diverse enterprise needs. These partnerships are enabling more adaptive, future-ready connectivity models by combining expertise in network infrastructure with capabilities in cloud computing, analytics, and AI-driven management. This trend supports faster innovation cycles and also positions private 5G as a strategic enabler for long-term digital transformation across multiple industries.
In terms of component, the hardware segment dominated with 73.33% revenue share in 2024, driven by essential investments in radios, base stations, and core equipment for private 5G deployments.
Based on operational frequency, the mmWave segment is expected to register the highest CAGR of 47.7% during the forecast period, fueled by its ultra-low latency capabilities enabling advanced applications such as AR/VR and autonomous systems.
North America led with 45.97% global share in 2024, supported by advanced infrastructure, key industry players, and early adoption of next-gen connectivity.
The market in Asia Pacific is expected to register the highest CAGR of 50.0% by 2034, propelled by industrial growth, infrastructure projects, and Industry 4.0 integration.
A few global key players in the private 5G network market include Amazon; Cisco Systems; Ericsson; Fujitsu; Huawei Technologies Co., Ltd.; Mavenir; Microsoft; NEC Corporation; Nokia Corporation; and ZTE Corporation.
Polaris Market Research has segmented the private 5G network market report on the basis of component, operational frequency, spectrum, vertical, and region:
By Component Outlook (Revenue, USD Billion, 2020-2034)
Hardware
Radio Access Network
Core Network
Backhaul & Transport Interconnecting
Software & Services
Installation & Integration
Data Services
Support & Maintenance
By Operational Frequency Outlook (Revenue, USD Billion, 2020-2034)
Sub-6 GHz
mmWave
By Spectrum Outlook (Revenue, USD Billion, 2020-2034)
Licensed
Unlicensed/Shared
By Vertical Outlook (Revenue, USD Billion, 2020-2034)
Manufacturing
Food & Beverages
Automotive
Pharmaceuticals
Electrical & Electronics
Heavy Machinery
Clothing & Accessories
Other Manufacturing Verticals
Energy & Utilities
Transportation & Logistics
Aerospace & Defense
Government & Public Safety
Corporates/Enterprises
Mining
Healthcare
Oil & Gas
Others
By Regional Outlook (Revenue, USD Billion, 2020-2034)
North America
U.S.
Canada
Europe
Germany
UK
France
Italy
Spain
Russia
Netherlands
Rest of Europe
Asia Pacific
China
India
Japan
South Korea
Indonesia
Malaysia
Vietnam
Australia
Rest of Asia Pacific
Latin America
Argentina
Brazil
Mexico
Rest of Latin America
Middle East & Africa
UAE
Saudi Arabia
Israel
South Africa
Rest of Middle East & Africa