5G Core Market Overview
The 5G core market size is expected to grow at a compound annual growth rate (CAGR) of 13.60% from 2022 to 2030, to reach USD 4.7 billion by 2030. The growth of the market is being driven by the increasing demand for high-speed data services, the growing adoption of 5G-enabled devices and applications, and the need for a more scalable and flexible network architecture.
The 5G core is the central part of the 5G network, responsible for providing services such as call control, authentication, and billing. It is a cloud-native, software-defined architecture that is designed to be more scalable, flexible, and efficient than the 4G core.
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The key drivers of the 5G core market are:
- Increasing demand for high-speed data services: 5G is capable of delivering data speeds up to 100 times faster than 4G, making it ideal for applications such as video streaming, virtual reality, and augmented reality.
- Growing adoption of 5G-enabled devices and applications: The number of 5G-enabled devices is expected to grow rapidly in the coming years, as more and more consumers and businesses adopt these devices.
- Need for a more scalable and flexible network architecture: The 5G network is expected to be much more demanding than the 4G network, and the 5G core needs to be able to scale to meet this demand.
The 5G core market can be segmented by:
- Component: Software and hardware
- Deployment: Cloud-based and on-premises
- Network function: Access control, authentication, billing, and policy control
- Architecture: Centralized and distributed
- End-user: Enterprises and consumers
Top Impacting Factors
The following are the top impacting factors in the 5G core market:
- Increasing demand for 5G services
- Growing adoption of cloud computing
- Technological advancements in network virtualization
- Regulatory compliance requirements
- Security concerns
The key strategies adopted by the players in the 5G core market include:
- Partnerships and collaborations: To gain access to new technologies and markets
- Acquisitions: To expand their product portfolio and reach
- Investments in research and development: To stay ahead of the competition
- Focused on cloud-based solutions: To meet the growing demand for scalability and flexibility
The 5G core market is expected to grow at a significant rate in the coming years. The Asia Pacific region is expected to lead the market, followed by North America and Europe. This is due to the increasing demand for 5G services in these regions, as well as the presence of major players in these regions.
Industry Latest News
- In January 2023, Nokia announced that it had won a contract to provide 5G core network equipment to Verizon.
- In February 2023, Ericsson announced that it had won a contract to provide 5G core network equipment to AT&T.
- In March 2023, Huawei announced that it had won a contract to provide 5G core network equipment to China Mobile.
- In April 2023, ZTE announced that it had won a contract to provide 5G core network equipment to China Telecom.
- In May 2023, Samsung announced that it had won a contract to provide 5G core network equipment to SK Telecom.
These are just a few of the latest news in the 5G core market. The market is constantly evolving, so it is important to stay up-to-date on the latest trends.
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