PUBLISHER: The Business Research Company | PRODUCT CODE: 1413935
PUBLISHER: The Business Research Company | PRODUCT CODE: 1413935
“5G Core Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on 5g core market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for 5g core? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The 5g core market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.
The 5G core functions as the central element of the 5G network, responsible for overseeing data management and controlling plane activities. Its role is to ensure secure and reliable network connectivity for end-users, enabling their access to network services.
Within the 5G core, there are primary components comprising solutions and services. In the realm of network operations, services refer to applications or functions that aid in establishing connections among users, applications, and data within the network. The diverse solutions encompass professional services and managed services, deployed both over the cloud and on-premise. Telecom operators and enterprises utilize various network functions, such as AMF, SMF, UPF, PCF, NEF, UDM, AUSF, AF, and NSSF. These functions play a crucial role in supporting the operations of the 5G core.
The 5G core market research report is one of a series of new reports from The Business Research Company that provides 5G core optical components market statistics, including 5G core optical components industry global market size, regional shares, competitors with a 5G core optical components market share, detailed 5G core optical components market segments, market trends and opportunities, and any further data you may need to thrive in the 5G core optical components industry. This 5G core optical components market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The 5g core market size has grown exponentially in recent years. It will grow from $3.65 billion in 2023 to $6.19 billion in 2024 at a compound annual growth rate (CAGR) of 69.6%. The expansion observed in the historical period can be credited to several factors. These include the rise in mobile data traffic, a growing need for higher data speeds and reduced latency, the widespread adoption of the Internet of Things (IoT), global initiatives for standardization, the competitive landscape, and collaborative efforts within the industry.
The 5g core market size is expected to see exponential growth in the next few years. It will grow to $58.64 billion in 2028 at a compound annual growth rate (CAGR) of 75.4%. The anticipated growth in the forecast period can be ascribed to several factors. These include the swift deployment of 5G networks, an upsurge in enterprise and industrial use cases for 5G, heightened emphasis on network security, the extension of private 5G networks, and the ongoing evolution of standards. Noteworthy trends expected in the forecast period encompass the implementation of network slicing for industry-specific applications, the integration of edge computing into 5G core networks, the adoption of open Radio Access Network (RAN), the application of artificial intelligence and automation for network optimization, and advancements in security measures for 5G networks.
The anticipated surge in data traffic is set to drive the expansion of the 5G core market in the future. Data traffic, denoting the amount of data transmitted through a network at a specific moment, is a key consideration. Leveraging the 5G Core for managing data traffic provides several advantages, including improved network capabilities, service exposure, and traffic steering features. These benefits furnish additional tools for optimizing traffic management and achieving efficient handling of data traffic. As an illustration, a report from Telefonaktiebolaget LM Ericsson, a Sweden-based IT services provider, reveals that global mobile data traffic reached approximately 90 EB per month in 2022 and is projected to increase nearly fourfold, reaching 325 EB per month by 2028. Consequently, the escalating data traffic necessitates heightened utilization of the 5G core.
The growing adoption of 5G technology is poised to boost the expansion of the 5G core market in the forthcoming years. 5G, the latest generation of mobile communication networks, succeeding predecessors such as 4G (LTE) and 3G, is driving this momentum. The 5G core network (5GC) serves as the foundational infrastructure for the implementation and operation of 5G technology, playing a crucial role in supporting diverse use cases and applications that capitalize on the capabilities of 5G networks. For instance, in April 2023, 5G Americas, a US-based trade group representing major telecommunications companies and services, reported a 76% increase in global 5G wireless network connections from the end of 2021 to the end of 2022, reaching 1.05 billion. Hence, the widespread adoption of 5G technology is propelling the growth of the 5G core market.
Prominent trends in the 5G core market involve the adoption of technological advancements by companies to bolster their market standing. For instance, in November 2022, Nokia Corporation, a leading global telecommunications service provider based in Finland, introduced a Software-as-a-Service (SaaS) alternative for enterprise customers seeking a simplified deployment of the 5G Standalone (SA) core network. This subscription-based service, known as Nokia Core SaaS, eliminates upfront costs and the burden of managing software maintenance and updates, offering a complete 5G core solution through a SaaS delivery model.
Major companies operating in the pet sitting market are adopting a strategic partnership approach to power a standalone network. Strategic partnerships refer to a process in which companies leverage each other's strengths and resources to achieve mutual benefits and success. For instance, in July 2022, Telefonaktiebolaget LM Ericsson, a Sweden-based telecommunications company, announced a partnership with Wind Tre S.p.A. WINDTRE has chosen Ericsson to implement container-based dual-mode 5G Core for Freestanding on cloud infrastructure, allowing WINDTRE to provide new services to consumers and build sophisticated enterprise use cases with creative revenue models. WINDTRE will integrate its 4G, 5G non-standalone, and 5G standalone services into a dual-mode 5G core that brings together evolved packet core and 5G core network operations into a common cloud-native structure for efficient Total Cost of Ownership (TCO) and smooth relocation to 5G, organized by a full-stack Ericsson Cloud infrastructure. The deal also covers end-to-end support services, with Ericsson network orchestration and automation serving as a foundation for the introduction of network slicing and ultra-reliable and low-latency communications (URLLC) services. Wind Tre S.p.A. is an Italy-based telecommunications company.
In February 2023, Hewlett Packard Enterprise (HPE), a US-based IT services leader, acquired Athonet srl, an Italy-based telecommunication service provider. This acquisition enables HPE to provide private networking capabilities directly to enterprises as part of its Aruba networking portfolio. Moreover, it empowers communications service providers to swiftly establish private 5G networks for their clients, showcasing the industry's dynamic response to evolving technological landscapes.
Major companies operating in the 5g core market report are Nokia Corporation, Huawei Technologies Co. Ltd., Samsung Electronics Co. Ltd., Cisco Systems Inc., Affirmed Networks Inc., ZTE Corporation, NEC Corporation, Oracle Corporation, Telefonaktiebolaget LM Ericsson, Hewlett Packard Enterprise Company LP, HRMavenir Systems Inc., Druid Software Ltd., IPLOOK Technologies, AT&T Inc., Orange SA, VMware Inc., Athonet, Ciena Corporation, F5 Networks Inc., Altiostar Networks, Parallel Wireless Pvt. Ltd., Reliance Industries Limited, Wind River Systems Inc. (Acquired by TPG Capital), Juniper Networks Inc., Amdocs, Datang Telecom Group, Alpha Networks Inc., Dell Technologies Inc., Bharti Airtel Limited, Rakuten Mobile Inc.
Asia-Pacific was the largest region in the 5G core market in 2023. Asia-Pacific is expected to be the fastest-growing region in the global 5G core market report during the forecast period. The regions covered in the 5g core market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the 5g core market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
The 5G core market includes revenues earned by entities through services such as service-based architecture and cloud-based architecture. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.