Dublin, Jan. 26, 2024 (GLOBE NEWSWIRE) -- The "5G Core Market - Global Industry Size, Share, Trends, Opportunities and Forecast, 2018-2028" report has been added to ResearchAndMarkets.com's offering.
The global landscape of telecommunications is undergoing a revolutionary transformation. As industries embrace the fifth generation of networking (5G), the core market is predicted to see substantial growth between 2024 and 2028, driven by the need for service-based and cloud-native architecture. The global 5G core market is projected to reach $13.75 billion by 2028, registering a CAGR of 35.6%.
Driving Factors Behind the 5G Core Market Growth
The market's expansion is primarily due to the increasing necessity of cloud-native and service-based frameworks. These frameworks not only enable small and medium-sized enterprises (SMEs) to handle data efficiently but also lay the groundwork for advanced Internet of Things (IoT) services across diverse industrial sectors. As smart manufacturing and connected supply chains become more prominent, the demand for 5G core's efficiency and innovation potential significantly rises.
Furthermore, the construction of smart infrastructure is a pivotal factor stoking demand in the 5G core market. The rapid urbanization and anticipated population influx into cities by 2050 necessitate advancements in telecommunications to ensure the successful deployment of smart city projects. 5G technology is integral to an array of services in these urban settings, including driverless vehicles, remote healthcare, and traffic safety management.
Technological Advancements and Network Infrastructure Enhancements
The anticipated global 5G core market growth is also being fueled by advancements in network infrastructure. Embracing new architectural concepts like Multi-access Edge Computing (MEC), the 5G core framework underpins the rising need for high-speed connectivity. The integration of IoT applications and breakthroughs in machine-to-machine communication networks is expected to create lucrative opportunities within the 5G core market, catalyzing its expansion in the coming years.
Market Segmentation Insight
The research publication segments the 5G core market into components, deployment modes, end-users, and networking functions, offering a granular analysis of each segment. The detailed segmentation demystifies the complexities within the market, providing a clear roadmap of where the opportunities and challenges lie.
- Segmentation by Components: Solutions and Services
- Segmentation by Deployment Mode: Cloud and On-Premise
- Segmentation by End-User: Consumer and Enterprise
- Segmentation by Networking Functions: AMF, SMF, UPF, PCF, NEF, NRF, UDM, AUSF, AF, NSSF, among others
Regional Perspectives and Market Players
The report also offers a global perspective, with regional analysis covering North America, Asia-Pacific, Europe, South America, and the Middle East. Insight into market-leading players is also provided, acknowledging the impact of major contributors such as Affirmed Networks, NEC Corporation, Cisco Systems, Samsung Electronics, HP Enterprise Development, Nokia Corporation, Oracle Corporation, Ericsson, Huawei Technologies, and ZTE Corporation.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 190 |
| Forecast Period | 2022-2028 |
| Estimated Market Value (USD) in 2022 | $2.25 Billion |
| Forecasted Market Value (USD) by 2028 | $13.75 Billion |
| Compound Annual Growth Rate | 35.6% |
| Regions Covered | Global |
A selection of companies mentioned in this report includes:
- Affirmed Networks, Inc.
- NEC Corporation
- Cisco Systems Inc.
- Samsung Electronics Co. Ltd.
- Hewlett Packard Enterprise Development L.P.
- Nokia Corporation
- Oracle Corporation
- Telefonaktiebolaget LM Ericsson
- Huawei Technologies Co. Ltd.
- ZTE Corporation
For more information about this report visit https://www.researchandmarkets.com/r/j299sm
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