At 40.0% CAGR, Asia Pacific Private 5G Networks Market is Projected to be Worth US$ 6,496.98 Million by 2030, says Business Market Insights

According to Business Market Insights' research, the Asia Pacific private 5G networks market was valued at US$ 441.23 million in 2022 and is expected to reach US$ 6,496.98 million by 2030, registering a CAGR of 40.0% from 2022 to 2030. Rising digitalization across enterprises and increasing demand for IoT are among the critical factor attributed to the Asia Pacific private 5G networks market expansion.

Enterprise digitalization is the process of transforming businesses using digital technologies. Enterprise digitalization has surged the demand for private 5G networks. As businesses become more digitalized, they need faster, more reliable, and more secure connectivity to support their operations. Private 5G networks can meet these needs by providing dedicated bandwidth, low latency, and high QoS. Moreover, enterprise digitalization is also leading to new business models for private 5G networks. For example, some vendors are offering managed private 5G services, which allows businesses to deploy and manage private 5G networks without having to invest in their infrastructure. For instance, AT&T provides a 5G enterprise solution that promises to deliver broadband speeds over wireless and cellular networks to unlock new opportunities previously constrained by wired, bandwidth, and transmission limitations. Several market players are also taking initiatives to stay competitive in the market. For instance, in 2023, Nokia partnered with DXC technology to launch DXC signal private LTE and 5G solutions. Nokia and DXC Technology, one of the leading Fortune 500 global technology services companies, announced the availability of DXC Signal Private LTE and 5G, a managed secure private wireless network and digitalization platform solution that helps industrial enterprises digitally transform their operations. Additionally, Nokia announced that it has entered into a partnership with NTT Ltd. to make private wireless networking solutions available to more than 3.2 million enterprises across Thailand, accelerating a digital transformation that will drive measurable increases in productivity, operational efficiency, and worker safety. Deployed at multiple enterprise business parks across Thailand, Nokia 5G private wireless solutions is projected to revolutionize business-critical applications and use cases across sectors vital to the nation's economy including manufacturing, mining, healthcare, and education. Therefore, the increasing requirement for IoT is creating a strong demand for private 5G networks. Private 5G networks can offer the bandwidth, latency, reliability, and security that IoT applications require. As a result, the private 5G network market is growing significantly.

On the contrary, high deployment and maintenance cost hurdles the growth of Asia Pacific private 5G networks market.

Based on component, the Asia Pacific private 5G networks market is categorized into hardware, software, and services. The hardware segment held 61.5% market share in 2022, amassing US$ 271.53 million. It is projected to garner US$ 4,150.81 million by 2030 to expand at 40.6% CAGR during 2022-2030.

In terms of frequency, the Asia Pacific private 5G networks market is bifurcated into sub-6GHz and mmwave. The sub-6GHz segment held 95.0% share of Asia Pacific private 5G networks market in 2022, amassing US$ 419.03 million. It is projected to garner US$ 6,122.63 million by 2030 to expand at 39.8% CAGR during 2022-2030.

By end user, the Asia Pacific private 5G networks market is segmented into manufacturing, energy and utilities, automotive, military and defense, government and public safety, and others. The manufacturing segment held 30.0% share of Asia Pacific private 5G networks market in 2022, amassing US$ 132.23 million. It is projected to garner US$ 2,117.62 million by 2030 to expand at 41.4% CAGR during 2022-2030.

Based on country, the Asia Pacific private 5G networks market has been categorized into China, Japan, South Korea, Australia, India, and the Rest of Asia Pacific. Our regional analysis states that China captured 35.0% share of Asia Pacific private 5G networks market in 2022. It was assessed at US$ 154.56 million in 2022 and is likely to hit US$ 2,412.90 million by 2030, exhibiting a CAGR of 41.0% during 2022-2030.

Key players operating in the Asia Pacific private 5G networks market are Cisco Systems Inc, Huawei Technologies Co Ltd, Nokia Corp, Telefonaktiebolaget LM Ericsson, T-Systems International GmbH, Verizon Communications Inc, Vodafone Group Plc, AT&T, Qualcomm Inc, and Amazon Web Services Inc, among others.

2023: China Telecom and Huawei have launched a 5G one-number converged private network, with the solution seeing commercial use as it has been deployed in the Sandaogou coal mine in Yulin.

2023: NTT Ltd. has inked a new partnership with Qualcomm with a goal to accelerate private 5G adoption. With the multiyear engagement, the companies will prioritize the development of 5G-enabled devices and seek to advance artificial intelligence (AI) processing capabilities at the Edge. Additionally, NTT is unveiling a new subscription device-as-a-service program through its Edge as a Service offering.

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