PR Newswire
12 Sep 2022, 12:42 GMT+10
The global private cellular network market will likely expand to $6.32 billion by 2026 from $1.83 billion in 2021, says Frost & Sullivan
SAN ANTONIO, Sept. 12, 2022 /PRNewswire/ -- Organizations are embracing private 5G networks to improve the efficiency of production processes while ensuring safety and security. Frost & Sullivan's recent analysis, Global Private 5G Network Growth Opportunities, reveals that combining the new power of 5G with the concept of a private 5G network takes enterprises to new levels. While some have started the private network journey with 4G, the possibilities enabled by 5G will entice most to upgrade over time. The developing global private cellular network market will likely expand to $6.32 billion by 2026 from $1.83 billion in 2021 at an impressive compound annual growth rate (CAGR) of 28.1%. Of this total, the contribution of private 5G networks will be significant, reaching $5.05 billion over the forecast period from $600 million in 2021.
For further information on this analysis, please click here.
"Wi-Fi continues to be important to most enterprises, but private cellular networks cover use cases that Wi-Fi does not do well and, in many cases, can provide a better network for less," said Troy Morley, ICT Industry Principal Analyst at Frost & Sullivan. "Private 4G networks improve on Wi-Fi, particularly around mobility, and private 5G networks improve on 4G, enabling higher throughput, higher connection densities, and lower latencies."
Morley added: "To achieve an acceptable return on 5G investments, communication service providers (CSPs) must better serve customers outside of the consumer market. This may be with network slicing, edge networks, and/or private 5G networks."
Spectrum is essential for any wireless technology, and for private 5G networks, much of the available spectrum is licensed by CSPs, but not all. To reap the benefits of private 5G networks, organizations should:
Global Private 5G Network Growth Opportunities is the latest addition to Frost & Sullivan's ICT research and analyses available through the Frost & Sullivan Leadership Council, which helps organizations identify a continuous flow of growth opportunities to succeed in an unpredictable future.
For over six decades, Frost & Sullivan has helped build sustainable growth strategies for Fortune 1000 companies, governments, and investors. We apply actionable insights to navigate economic changes, identify disruptive technologies, and formulate new business models to create a stream of innovative growth opportunities that drive future success. Contact us: Start the discussion
Global Private 5G Network Growth Opportunities
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SOURCE Frost & Sullivan
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