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Global private 5G to grow at 65.4% CAGR to 2030
Research anticipates that as the availability of 5G networks and devices improves, there will be a more rapid global expansion of private networks across diverse industries
The landscape of 5G communications has evolved rapidly to meet the diverse needs of various use cases – from the deployment of private networks to take advantage of the likes of network slicing to the internet of things (IoT) specialised with emerging batteryless ambient IoT devices – highlighting the versatile future of 5G technology, and a study from IoT Analytics is predicting further strong growth of 5G and IoT.
The 5G IoT & private 5G market report 2024-2030 noted that there were 1.28 million private 5G IoT connections globally in 2023 – 5% of the 25.6 million 5G IoT connections. It forecast that the number of global private 5G connections is to grow at a compound annual growth rate (CAGR) of 65.4% until 2030 and comprise 13% of the total 5G IoT connections globally by then.
China and Europe are predicted to be regional growth areas for private 5G through to 2030, with non-industrial facilities and campuses, such as ports and office buildings, fuelling its growth.
Drilling deeper into the trends and dynamics for private 5G connections, the analyst noted that despite its smaller share compared with public 5G, private 5G is projected to grow from 1.28 million connections in 2023 to nearly 107 million by 2030. This growth, said the study, is set to be driven by its distinct advantages in security and control, making it attractive to sectors such as healthcare and non-industrial facilities.
Looking at key use cases and regional growth, the report identified five key private 5G use cases, including remote control of assets, facility connectivity, logistics automation, camera-based surveillance and augmented reality (AR)-based inspections.
“China’s strategic approach to 5G, encompassing both industrial and non-industrial applications, has propelled its global leadership. A strong hardware ecosystem and government backing have accelerated deployment,” said Satyajit Sinha, principal analyst at IoT Analytics.
“Meanwhile, the US and Europe face hurdles in industrial adoption, primarily due to high capital expenditures and a shortage of dedicated industrial 5G devices/sensors. As the availability of these devices improves, we anticipate a more rapid global expansion of private 5G networks across diverse industries,” added Sinha.
Read more about and 5G and IoT
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