Market Research Future Insights
According to MRFR analysis, the 5G Core Market is expected to register a CAGR of 31.2% from 2022 to 2030 and hold a value of over USD 1.876 billion by 2032.
The 5G core market refers to the market for the core network components and infrastructure that support the delivery of 5G services. The core network is the backbone of the 5G network, responsible for routing data between different devices and enabling advanced features such as network slicing, edge computing, and virtualization.
These may include equipment vendors that provide hardware and software components, as well as network operators and service providers that deploy and manage the network.
The COVID-19 pandemic had a mixed impact on the 5G core market. On one hand, the pandemic has slowed down the deployment of 5G networks in some regions, as many governments and network operators have had to divert resources and attention to responding to the crisis.
However, the pandemic has also accelerated the adoption of certain 5G use cases, such as remote work and telemedicine, which rely heavily on the capabilities of the 5G core network. This has driven increased investment in 5G infrastructure, including the core network, as businesses and governments look to build more resilient and robust networks that can support these new use cases.
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Regional Analysis
The largest region for the 5G core market is currently Asia Pacific. This region has a large and growing population, as well as some of the world's largest economies, such as China, Japan, and South Korea. These countries have been leaders in 5G network deployment and are investing heavily in 5G infrastructure, including the core network, to support a wide range of applications and use cases.
China, in particular, has been driving significant growth in the 5G core market, with the country's three major network operators - China Mobile, China Telecom, and China Unicom - all deploying 5G networks and investing in the development of the 5G core network.
Market Segmentation
The 5G Core Market has been segmented into deployment and application.
Based on the deployment, the market has been segmented into cloud and on-premises.
Based on the application, the market has been segmented into user plane function, policy control function and network exposure function.
Key Players
Some of the key market players are:
- Nokia Corporation (Ireland)
- Telefonaktiebolaget LM Ericsson (Sweden)
- Huawei Technologies Co.Ltd.(China)
- ZTE Corporation (China)
- Samsung Electronics Co.Ltd.(South Korea)
- Affirmed Networks (US)
- Mavenir (US)
- NEC Corporation (Japan)
- Cisco Systems Inc. (US)
- Hewlett Packard Enterprise Development LP (US)
- Athonet (Italy)
- Casa Systems (US)
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