Powering 5G Networks: Exploring the Global 5G Core Market
The 5G core network is integral for delivering the advanced capabilities of 5G networks. The global 5G core market size is projected to grow from USD 1.54 billion in 2021 to USD 4.7 billion by 2030, expanding at a compound annual growth rate (CAGR) of 13.60% during the forecast period. 5G core will enable smarter connectivity and new revenue opportunities.
5G Core Market Overview:
The 5G core network refers to the centralized cloud-based platform that provides processing and storage required to run 5G RAN, manage devices and control functions. Key components include:
- Access and Mobility Management Function (AMF)
- User Plane Function (UPF)
- Session Management Function (SMF)
- Network functions virtualization infrastructure (NFVI)
- Network slicing, orchestration and automation
The 5G core intelligently allocates network resources through advanced capabilities like network slicing and software defined networking (SDN).
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Key Market Segments:
The 5G core market is segmented based on component, network function, deployment model, end user and region:
- Components: Solutions, Services
- Network Functions: Access and Mobility Management, Session Management, User plane, Others
- Deployment Model: Cloud-based, On-premise
- End User: Telecom Operators, Enterprises
- Region: North America, Europe, Asia Pacific, MEA, Latin America
Key Market Drivers:
- Rising 5G network rollouts globally
- Demand for high speed, low latency networks
- Need to support advanced 5G use cases and applications
- Growth in mobile data traffic and Internet of Things
- Increasing virtualization of core network infrastructure
Leading 5G core technology vendors include:
- Affirmed Networks
North America accounted for the largest market share in 2021. Asia Pacific is expected to grow at the highest CAGR during 2022-2028 driven by 5G investments in China, South Korea, Australia and Japan.
Latest Industry Trends
- Deploying containerized and microservices-based 5G core architecture
- Leveraging cloud-native design and edge computing
- AI-enabled cognitive network management
- Network slicing enabling differentiated 5G services
- Open architecture and interoperability across multi-vendor 5G networks
In summary, the 5G core market outlook remains robust, underpinned by the continuous expansion of 5G networks globally. As the brain driving next-generation connectivity, intelligent 5G core solutions will unlock new possibilities across industries.
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