5G Core Market Set to Reach US$ 1.1 Billion by 2032, Riding High on Network Expansion

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In 2021, 5G Core Market global revenue was estimated to be US$ 1.1 billion. In addition, a CAGR of 26.7% is predicted for the market’s growth from 2022 to 2032.

The component that is expected to generate the most revenue is the solution, with a projected growth rate of 25.5% between 2022 and 2032.

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In the realm of telecommunications, the advent of 5G technology heralds a new era of connectivity, promising faster speeds, lower latency, and enhanced reliability. At the heart of this transformative shift lies the 5G core network, a crucial component that serves as the foundation for delivering next-generation services and applications. As the demand for high-speed, low-latency connectivity continues to escalate, the 5G core market is witnessing unprecedented growth and innovation, reshaping the telecommunications landscape as we know it.

Competitive Landscape:

The following are some recent advancements made by significant 5G core providers:

In a collaborative lab demonstration, Ericsson and Vodafone successfully completed the UK’s first 5G independent network cutting preliminary on March 15, 2022, to stimulate interest in 5G availability and committed execution for buyers and commercial clients.

On February 23, 2021, NOKIA announced the launch of its Delos drive, a novel and inventive approach to handling the complexity of 5G core programming delivery and tasks, along with the establishment of CI/CD Services to support communication with major suppliers.

Samsung Electronics Co., Ltd. declared in February 2022 that it will keep working with suppliers of servers, cloud platforms, and chipsets to develop the 5G vRAN ecosystem.

Unleashing the Potential of 5G Core

The 5G core network represents the backbone of the 5G infrastructure, responsible for orchestrating the flow of data and enabling seamless communication between devices, applications, and networks. Unlike its predecessors, the 5G core is designed to support a diverse range of use cases, from ultra-reliable low-latency communication (URLLC) for mission-critical applications to massive machine-type communication (mMTC) for IoT devices and services.

Key Companies Profiled:

  • Ericsson
  • Huawei
  • Nokia
  • Samsung
  • ZTE
  • Cisco
  • Mavenir
  • NEC
  • Oracle
  • Athonet

Driving Forces Behind Market Growth

Several key factors are driving the exponential growth of the 5G core market. The proliferation of bandwidth-hungry applications such as video streaming, online gaming, and augmented reality (AR) and virtual reality (VR) experiences is fueling the demand for high-speed connectivity. Moreover, the rise of IoT devices, smart cities, and autonomous vehicles necessitates a robust and resilient network infrastructure capable of supporting a myriad of connected devices and services.

Additionally, advancements in cloud computing, edge computing, and network virtualization are enabling operators to deploy agile and scalable 5G core solutions, reducing operational costs and accelerating time-to-market for new services. Furthermore, the ongoing deployment of 5G networks worldwide, coupled with government initiatives and regulatory support, is driving investment in 5G core infrastructure and driving market expansion.

Market Outlook and Future Trends

The future outlook for the 5G core market is exceptionally promising, with analysts projecting exponential growth in the coming years. Market research forecasts indicate that the 5G core market will surpass USD 1.1 billion by 2032, with a compound annual growth rate (CAGR) exceeding 26.7%. This growth trajectory is fueled by the increasing adoption of 5G technology across various industries, as well as the rollout of advanced services such as network slicing, edge computing, and private 5G networks.

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Moreover, the evolution of 5G standards and specifications, such as 5G standalone (SA) architecture and network slicing capabilities, will further drive innovation and market expansion. Additionally, the convergence of 5G with emerging technologies such as artificial intelligence (AI), Internet of Things (IoT), and blockchain will unlock new opportunities for revenue generation and differentiation in the highly competitive telecommunications market.

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