5G Core Market Overview

The global 5G core market size is projected to grow from USD 1.2 billion in 2020 to USD 4.7 billion by 2030, at a Compound Annual Growth Rate (CAGR) of 13.60% during the forecast period. The major factors driving the 5G core market include the rising demand for high-speed data services, increasing virtualization of networking architecture, and growing deployment of IoT and machine-to-machine connections.

The 5G core network manages authentication of devices, quality of service, routing, and mobility. It allows faster and larger data transmissions, greater device connectivity, and ultra-reliable communication for mission-critical applications. Leading telecom companies are undertaking 5G trials and working closely with solution providers to develop 5G core technology and infrastructure.

Key Companies

The key players in the 5G core market include Huawei, Ericsson, Nokia, ZTE, Samsung, Affirmed Networks, Mavenir, NEC, Athonet, Cisco, HPE, and Oracle.

These companies are heavily investing in R&D activities to develop innovative 5G core solutions. They are also entering partnerships and collaborations to expand their 5G core product portfolios and geographic reach. For instance, in September 2021, Affirmed Networks partnered with Microsoft to offer a fully virtualized cloud-native 5G core solution tailored for telecom operators and enterprises.

Market Segmentation

By component, the market is bifurcated into solutions and services. The solutions segment is categorized into user plane function (UPF), control plane function (CPF), network exposure function (NEF), network data analytics function (NWDAF), and others. The services segment is divided into consulting, integration & implementation, and training & support services.

Based on network function, the market is segmented into access and mobility management function (AMF), session management function (SMF), and user plane function (UPF).

The deployment mode segments are cloud and on-premises. Considering the end-user, the market is segregated into telecom operators and enterprises.

Regional Insights

North America accounted for the largest 5G core market share in 2020 and is expected to dominate during the forecast period. The early deployment of 5G networks in countries such as the U.S. and Canada is driving the market growth in this region.

Europe is anticipated to witness significant growth over the forecast period owing to government initiatives supporting 5G infrastructure and increasing focus on IoT connectivity across key industries.

The Asia Pacific region is projected to register the fastest CAGR over the forecast period owing to rising investments in 5G network development by China, South Korea, Australia, and Japan.

Latest Industry News

• In March 2022, Mavenir announced the expansion of its 5G core network offering with a standalone User Plane Function, delivering increased 5G deployment flexibility to communication service providers.
• In May 2022, Affirmed Networks and Samsung partnered to deliver 5G network solutions to telecom operators worldwide by combining Affirmed’s 5G solutions with Samsung’s 5G RAN and core.
• In April 2022, Ericsson expanded its 5G core offering by acquiring Vonage, a global provider of cloud communications services, for USD 6.2 billion. This strengthened Ericsson’s capability to serve both telecom operators and enterprise customers.

The rising demand for enhanced mobile broadband and ultra-low latency connectivity is expected to drive significant 5G core market growth over the forecast period. The increasing investments in 5G infrastructure by governments and telecom companies globally will provide lucrative opportunities for 5G core vendors.

Read More: https://www.marketresearchfuture.com/reports/5g-core-market-10451