Private 5G Network Market Summary

The global private 5G network market size was estimated at USD 2.00 billion in 2023 and is projected to reach USD 36.08 billion by 2030, growing at a CAGR of 54.1% from 2024 to 2030. This rapid growth is attributed to the rising demand for dedicated, secure, and high-performance connectivity solutions that support digital transformation across industries. Private 5G networks enable organizations to connect a larger number of devices, enhance automation capabilities, and deliver improved customer experiences through reliable, low-latency communication. These networks also offer greater control and customization compared to public cellular networks, making them valuable for mission-critical operations.

The adoption of private 5G networks is expanding across sectors such as manufacturing, utilities, transportation, logistics, retail, agriculture, and emerging smart city applications. Smart cities, in particular, are integrating private 5G for critical use cases including traffic management, surveillance, energy optimization, and public safety systems. The appeal of private 5G lies in its key advantages, such as ultra-fast data speeds, enhanced network security, cost efficiency, consistent reliability, prioritized access, and extended coverage compared to traditional Wi-Fi solutions. These features make private 5G an ideal choice for organizations seeking to modernize operations and support advanced technologies such as autonomous systems, IoT ecosystems, and AI-driven analytics.

Key Market Trends & Insights

• North America dominated the private 5G network market and accounted for a 31.64% share in 2023, reflecting the region’s strong technological infrastructure, early adoption of advanced connectivity solutions, and robust industrial digitalization initiatives.
• The private 5G network market in the U.S. is expected to grow at a significant CAGR of 56.2% from 2024 to 2030, supported by increasing investments from enterprises, government agencies, and smart city projects aiming to enhance operational efficiencies and security.
• By component, the hardware segment dominated the market in 2023 and accounted for a 53.88% share of the global revenue, driven by the high demand for core networking equipment, small cells, antennas, and edge computing devices essential for private network deployment.
• By frequency, the mmWave segment is projected to witness significant growth during the forecast period due to its ability to deliver ultra-high speeds, low latency, and large data capacity, making it suitable for mission-critical and high-bandwidth industrial applications.
• By spectrum, the unlicensed/shared segment dominated the market in 2023 and is expected to grow at the highest CAGR during the forecast period, as it provides enterprises with a flexible and cost-efficient way to deploy private 5G networks without acquiring expensive licensed spectrum.

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Market Size & Forecast

• 2023 Market Size: USD 2.00 Billion
• 2030 Projected Market Size: USD 36.08 Billion
• CAGR (2024-2030): 54.1%
• North America: Largest market in 2023
• Asia Pacific: Fastest growing market

Key Companies & Market Share Insights

Some of the established players operating in the market include TELEFONAKTIEBOLAGET LM ERICSSON, HUAWEI TECHNOLOGIES CO., LTD., Deutsche Telekom, Nokia Corporation, Samsung Electronics Co., Ltd., and Cisco Systems, Inc. among others.

• Telefonaktiebolaget LM Ericsson provides information and communication technology (ICT) services, including 5G and IoT-powered networks, managed services, digital services, and others to service providers across the globe. These services form the operating segments of the company and are based on the company’s customer needs. The company is taking strategic initiatives regarding new product deployments and geographical expansion of its facilities across the globe.
• Nokia Corporation is a mobile and fixed network infrastructure provider that combines software, hardware, and services. The company is also engaged in the deployment of 5G networks. The company operates through three reportable segments: networks, Nokia software, and Nokia technologies. Through the Nokia Software segment, the company focuses on 5G, digital, automation, and portfolio integration platforms. Nokia Corporation is among the leading players with a vast product portfolio and strong global presence.

Key Players

• Telefonaktiebolaget LM Ericsson
• Nokia Corporation
• Samsung Electronics Co., Ltd.
• ZTE Corporation
• Deutsche Telekom Group
• AT&T Inc.
• Juniper Networks, Inc.
• Verizon Communications
• Altiostar
• HUAWEI TECHNOLOGIES CO., LTD.
• Mavenir
• T-Systems International GmbH
• Cisco Systems, Inc.
• Vodafone Group Plc
• BT Group

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Conclusion

In conclusion, the global private 5G network market is set to experience transformative growth as industries continue to prioritize secure, high-capacity, and low-latency connectivity solutions. With its ability to support automation, real-time analytics, and large-scale device integration, private 5G is becoming a foundational technology for next-generation digital ecosystems. As sectors such as manufacturing, transportation, utilities, and smart cities accelerate their digital strategies, demand for private 5G networks will continue to rise. The combination of technological advancements, regulatory support, and expanding enterprise use cases positions the market for sustained expansion through 2030.