The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

The Business Research Company’s 5G Core Global Market Report 2024 offers crucial insights into the 5G core market help businesses analyse and build stronger strategies.

The 5G core market has witnessed exponential growth in recent years, spurred by factors such as increasing mobile data traffic, demand for higher data speeds and low latency, proliferation of IoT devices, global standardization efforts, and industry collaboration.

Current Market Scenario and Growth Projections

• The market size is set to surge from $3.65 billion in 2023 to $6.19 billion in 2024, demonstrating a remarkable compound annual growth rate (CAGR) of 69.6%.
• Projections foresee substantial growth, with expectations to reach $58.64 billion by 2028, at a CAGR of 75.4%.

Surge In Data Traffic Driving The 5G Core Market

Impact of Data Traffic Explosion

• The surge in data traffic serves as a major driver for the 5G core market’s growth trajectory.
• Leveraging 5G Core facilitates enhanced network capabilities, service exposure, and traffic steering, optimizing data traffic management.

Statistics Highlighting Data Traffic Growth

• Reports indicate a substantial increase in worldwide mobile data traffic, projected to reach 325 EB per month by 2028, nearly quadrupling from 2022.
• This exponential growth underscores the critical need for efficient utilization of 5G Core to manage burgeoning data volumes.

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Innovating The 5G Core Landscape: Technological Advancements Take Center Stage

Embracing Technological Advancements

• Technological advancements serve as prominent trends shaping the 5G core market landscape.
• Companies are adopting innovative technologies to maintain competitiveness and meet evolving market demands.

Example: Nokia Corporation’s SaaS Solution

• Nokia Corporation introduced a software-as-a-service (SaaS) alternative for deploying the 5G standalone (SA) core network, offering convenience and flexibility to enterprise customers.
• This subscription-based model streamlines network deployment, eliminating upfront costs and simplifying software maintenance.

Strategic Acquisitions Fuel Market Expansion

Strategic Acquisition Dynamics

• Hewlett Packard Enterprise’s acquisition of Athonet srl in February 2023 exemplifies strategic moves within the 5G core market.
• Such acquisitions enhance companies’ capabilities to provide private networking solutions and expedite the establishment of private 5G networks.

Impact on Market Dynamics

• Athonet’s technology acquisition strengthens HPE’s position in the market, enabling the provision of private networking capabilities directly to enterprises and facilitating CSPs in deploying private 5G networks.

Market Segmentation and Regional Insights

Segmentation Insights

• The 5G core market is segmented by component, deployment, network function, and end-user, catering to diverse market needs and preferences.
• Segments include solutions, services, cloud, on-premises, access and mobility management, session management function, and more.

Regional Dominance

• Asia-Pacific emerged as the largest region in the 5G core market in 2023 and is poised to be the fastest-growing region during the forecast period.
• The region’s rapid growth is attributed to extensive 5G network deployments and increasing adoption of enterprise and industrial 5G use cases.

Conclusion
The 5G core market continues its exponential growth trajectory, driven by factors such as data traffic explosion, technological advancements, and strategic acquisitions. With projections indicating sustained growth and evolving market dynamics, companies are poised to capitalize on emerging opportunities and contribute to the proliferation of 5G technologies worldwide.

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The 5G Core Global Market Report 2024  provides a comprehensive outlook of the 5G core market for the historic years (2010 – 2021) and ten years forecast (2023 – 2032). The 5G core market forecast offers a thorough analysis on 5G core market size, 5G core market share, prominent players and their strategies.

The Table Of Content For The 5G Core Market Include:
1. 5G Core Market Executive Summary
2. 5G Core Market Segments
3. 5G Core Market Size And 5G Core Market Growth Rate
4. Key 5G Core Market Trends
5. Major 5G Core Market Drivers
……
25. Key Mergers And Acquisitions In The 5G Core Market
26. Top 5G Core Companies
27. 5G Core Market Opportunities And Strategies
28. 5G Core Market, Conclusions And Recommendations
29. Appendix

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