Global 5G Core Market Size, Drivers, Trends, Opportunities And Strategies – Includes 5G Core Market Share
The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032
The predicted increase in data traffic will encourage innovation in 5G core manufacturing, propelling the market throughout the forecast period.
The global 5G core market is expected to grow from $2.23 billion in 2022 to $3.65 billion in 2023 at a compound annual growth rate (CAGR) of 63.94%. The global 5G core market size is expected to reach $33.16 billion in 2027 at a CAGR of 73.58%.
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Global 5G Core Market Segments Include:
- By Component: Solutions, Services
- By Solutions: Professional Services, Managed Services
- By Deployment: Cloud, On-Premises
- By Network Function: Access and Mobility Management (AMF), Session Management Function (SMF), User Plane Function (UPF), Policy Control Function (PCF), Network Exposure Function (NEF), Network Repository Function (NRF), Unified Data Management (UDM), Authentication Server Function (AUSF), Application Function (AF), Network Slicing Selection Function (NSSF)
- By End-User: Telecom Operators, Enterprises
- By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific is the largest region in the global 5G core market in 2021.
Major Market Players in the 5G core market include Nokia Corporation, Huawei Technologies Co. Ltd., Samsung Electronics Co. Ltd., Cisco Systems Inc., Affirmed Networks, ZTE Corporation, NEC Corporation, Oracle Corporation, Telefonaktiebolaget LM Ericsson.
Technological developments are important trends that are gaining traction in the 5G core industry. Companies in the 5G core industry are embracing new technologies to maintain their market position. For example, Nokia Corporation, a Finland-based global leading telecommunications service provider, will introduce a software-as-a-service (SaaS) alternative for its enterprise customers who want an easier way to deploy the 5G standalone (SA) core network alongside its existing offerings in November 2022. The company provides 5G Core SaaS on-demand via a subscription service, eliminating the requirement for an upfront payment as well as the obligation of maintaining software maintenance and updates through an operator. Nokia Core SaaS is the market’s first full 5G core solution, delivering all important cloud-native network services through a SaaS delivery model.
The 5G Core Global Market Report 2023 provides a 5G core market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The 5G core market forecast analyzes 5G core market size, 5G core market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The 5G core is the essential component of the 5G network, responsible for data management and plane activity control. It provides end-users with secure and dependable network connectivity as well as access to network services.
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