Global 5G Core Market to surpass USD 147.5 billion by 2030 from USD 0.63 billion in 2020 at a CAGR of 72.50% in the coming years, i.e., 2020-30. The market is estimated to grow owing to its cloud-native and service-based architecture, which will boost the modularity of devices with a greater focus on low latency, uRLLC, eMBB, and mMTC offerings. Increasing consumer demand for video and the shift of industry towards the use of cloud services have largely driven the rapid increase in the amount of data carried by cellular networks. The commercialization of 5G networks in businesses such as private 5G and the worldwide availability of unlicensed and shared spectrum is anticipated to drive the 5G core market.
5G Core (5GC) is the heart of the mobile network where ultra-connectivity translates into the differentiation of service and business flexibility. It establishes stable and secure network connectivity and access to its facilities, defines service quality, and enforces it through a policy that enables differentiation of services and manages wide-area mobility across the network. It is the business end’ of mobile broadband and IoT networks. 5GC is an integral part of the 5G network to enhance the experience of end-users, simplify network tasks and enhance network capabilities. The new 5GC architecture, known as Service-Based Architecture (SBA), is designed using the concepts of IT networks and cloud-native technologies. Each Network Function (NF) offers one or more services to other NFs through Application Programming Interfaces in this new architecture.
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Global 5G Core Market: Key Players
- Affirmed Networks
- Other prominent players
Global 5G Core Market: Segments
Services segment to grow with the highest CAGR during 2020-30
Global 5G Core Market is segmented by Component into Solution and Services. The services segment held the largest market share in the year 2019. Services play a critical role in the implementation and incorporation of next-generation networking technologies in the business environment of an organization. Services are viewed as an essential component of the core 5G industry, as they concentrate mainly on enhancing business processes and leveraging the network of the enterprise. Furthermore, they are instrumental in meeting the needs of users, such as network testing, scheduling and optimization, service and maintenance, and consulting.
Cloud segment to grow with the highest CAGR during 2020-30
Global 5G Core Market is divided by Deployment model into Cloud and On-Premises. The cloud segment held the largest market share in the year 2019 and will continue to dominate the market in the coming years. With the assistance of cloud-based technologies, end users can better integrate the organization into the cloud with cloud-based solutions or move it to the cloud platform for effective and continuous service capabilities. Using cloud-native thinking and models, the introduction of various cloud-based and 5G on-demand slicing technologies is expected to boost the digital transformation of the whole communications industry.
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Better network capabilities
Advent of new 5G Core architecture will make mobile networks more effective and easier to operate. First, it reduces the time for new services to be marketed and makes it easier to handle services with a shorter life cycle. Service providers will be able to have stronger network slicing with 5G Core and give business customers end-to-end service level agreements (SLA). 5G Core edge computing support offers several new features to spread user plane functionality, break traffic at the edge and monitor the traffic break out dynamically. All these factors are projected to drive the market over the forecast period
Enhanced end-user experiences
5G new radio standalone (5G NR SA) offers a drastic simplification of the RAN and devices. It has lower control plane latency without an LTE anchor allowing ultra-fast link time, enhancing end-user experience. It will also allow higher bit rates compared to previous technologies. The decrease in latency, improvement in service reliability, and traffic and services isolation can lead to an overall change in the end-user experience.
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Growing cybersecurity threats
With the rapid adoption of 5G technology, the chances of cybersecurity threats are likely to increase. The increase in connected devices and computers will lead to rising in cyber-attacks. In addition, 5G provides a direct connection to the wireless network, unlike existing technologies, which further raises the risk of direct attack. The attackers can take benefit of such security gaps and come up with advanced attacks. This is expected to hinder the 5G Core market growth.
Global 5G Core Market: Regions
Global 5G Core Market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, Asia Pacific, and the Middle East, and Africa. Global 5G Core Market in Asia Pacific held the largest market share in the year 2019. Asia Pacific will continue to dominate the global 5G Core Market because of technological growth, strengthened industrial infrastructure, presence of key players, and a higher rate of new technology adoption. Infrastructural growth especially in Japan, South Korea, Australia, Singapore, China, and India, and the increasing implementation of 4G and 5G networks, presents enormous opportunities for the 5G core solution to be introduced. The content will become even more data-intensive with the increasing adoption of technologies such as VR and AR as well as IoT, which will require seamless network connectivity and coverage and would provide a huge opportunity for the 5G core market in the region
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