Global 5G Core Market size is projected to reach at US$ XX Mn. by 2026 from US$ XX Mn. in 2019, at a CAGR of XX % during the forecast period.
The Global 5G Core Market report is a comprehensive analysis of the industry, market, and key players. The report has covered the market by demand and supply-side by segments. The Global 5G Core report also provides trends by market segments, technology, and investment with a competitive landscape.
Definition of 5G Core:
With a modular and cloud-native approach, 5G brings transformational changes to the core network. 5G core has offered higher data speeds and lower latency. It is also known as service-based architecture (SBA).
Global 5G Core Market Dynamics:
Smart infrastructure development and rising demand for cloud-native and service-based architecture are expected to drive market growth over the forecast period. Even then, data security concerns in the 5G core network may inhibit 5G core system adoption over the forecast period. Besides, 5G core (5GC) provides ultra-reliable connectivity and low latency performance, which are critical to the success of industrial 4.0's revolution.
Technological innovations and the advancing infrastructure have led the way for the emergence of new business applications in a variety of industries. The increase in the volume of data carried by cellular networks has been largely driven by consumer demand for video and a switch in business practices toward the use of cloud services. There are numerous opportunities for 5G core vendors to expand. Internet of things (IoT) is one of many use cases that 5G core-enabled 5G would enable, allowing communication between large numbers of sensors and connected devices.
Global 5G Core Market Segmentation:
Based on the component, the 5G Core market is divided into services and solutions. The solution segment is again sub-segmented into professional services and managed services. The managed services segment will grow at the fastest CAGR rate attributed to network security, storage, hosting, servers, and mobile device management.
Depending upon the network functions, the market is segmented into AMF (Access and Mobility Management Function), SMF (Session Management Function), UPF (User Plane Function), PCF (Policy Control Function), and others. AMF is the fastest growing segment of network functions. The Network Repository Function (NRF) of the 5G service-based architecture (SBA) is used by AMF to find and pick available SMF instances. The UPF (User Plane Function) is a critical component of the 4G LTE-designed packet center's gateway service and packet data network gateway functionality.
Depending upon deployment mode, the forms available are cloud and on-premise. Cloud deployment is expected to grow at the fastest CAGR rate during the forecast period. Organizations will save money on infrastructure, software, storage, and technical personnel by delivering 5G Core technologies and services on the cloud. The cloud deployment type is widely used for both private and public clouds, and it can differ from case to case depending on the client's needs. The high adoption rate of cloud computing, increasing volume of internet users, and rising demand for system integration are all driving forces to the market.
Based on the end-users, the global 5G core market is segmented into telecom operators and enterprises. Across all sectors, enterprises are experiencing a digital transformation. Businesses are introducing innovative technology at different stages to innovate new strategies, enhance service quality, lower costs, gain a competitive edge, and meet increasing consumer expectations.
Global 5G Core Market by Deployment
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Regional Insights of the Global 5G Core Market:
North America is one of the most advanced regions dominated the 5G core market, followed by Asia-Pacific and Europe. The largest market share was held by the U.S., followed by Canada and Mexico. The United States has a sizable market share in North America, with notable companies such as Affirmed Networks, Cisco, Oracle, Casa Systems, and others.
Asia Pacific is home to many rapidly developing economies, including China, India, and Japan, all of which are expected to experience rapid growth in the 5G core sector. These nations have always encouraged and sponsored industrial and technological growth. They also have a well-developed technical framework that encourages the implementation of 5G core technologies across all industries.
Global 5G Core Market by Regional
The objective of the report is to present a comprehensive analysis of the Global 5G Core Market to the stakeholders in the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language.
The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market has been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding the Global 5G Core Market dynamics, structure by analyzing the market segments and projects the Global 5G Core Market size. Clear representation of competitive analysis of key players By Network Functions, price, financial position, product portfolio, growth strategies, and regional presence in the Global 5G Core Market make the report investor's guide.
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Global 5G Core Market by Scope
Global 5G Core Market, by Region
• North America
• Asia Pacific
• Middle East & Africa
• South America
Global 5G Core Market Key Players
• Affirmed Networks
• Casa Systems
• Druid Software
• Metaswitch Networks
• Other Key Players
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