Market Overview:
According to a comprehensive research report by Market Research Future (MRFR), “Global 5G Core Market information by Deployment Mode, by Components, End User and Region – forecast to 2027” market size was valued at USD 361.053 Million in 2019; it expected surpass USD 16,092.5 Million by 2026 at 72.00% CAGR.
Market Scope:
The 5G Core or 5GC is the core of a mobile network as ultra-connectivity turns into coverage differentiation and market versatility. This ensures secure and stable network connectivity and access to its facilities, defines the consistency of the infrastructure, and imposes it by a strategy that allows for separation of services and controls wide-area mobility within the network. It uses virtualization techniques like micro-service and cloud native to build and distribute different slices, including mMTC (massive machine-type communications), URLLC (ultra - reliability and low latency communication), and eMBB (enhanced mobile broadband).
Dominant Key Players on 5G Core Market Covered Are:
- Metaswitch ( UK )
- IPLOOK ( China )
- Druid Software( Ireland )
- Cumucore ( Finland )
- Casa Systems ( US )
- Athonet (Italy)
- Oracle( US )
- HPE ( US )
- Cisco( US )
- NEC( Japan )
- Mavenir( US )
- Affirmed Networks ( US )
- Samsung ( South Korea )
- ZTE ( China )
- Huawei ( China )
- Ericsson ( Sweden )
- Nokia ( Finland )
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Competitive Analysis:
The 5g core market is fragmented and competitive with the presence of multiple domestic and international industry players. These players have used assorted strategies to stay at the forefront and also cater to the surging needs of the esteemed customers, such as collaborations, partnerships, contracts, geographic expansions, new product launches, joint ventures, and more. Additionally, these players are also making heavy investments in research and development activities for strengthening their portfolios and also creating a hold in the market.
Market USP Exclusively Encompassed:
Market Drivers
As per the MRFR report, there are numerous factors that are propelling the 5G core market share. Some of these entail the commercialization of 5G services in enterprises like private 5G, the availability of shared and unlicensed spectrum, development of smart infrastructure, and growing demand for cloud-native and service-based infrastructure.
On the contrary, data security concerns in the 5G network may impede the global 5G core market growth over the forecast period.
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Segmentation of Market covered in the research:
The MRFR report throws light on an inclusive analysis of the 5G core market based on end user, network functions, deployment mode, and component.
By component, the global 5G core market is segmented into services and solutions. The solutions segment is further segmented into managed services and professional services. Of these, the services segment will lead the market over the forecast period.
By deployment mode, the global 5G core market is segmented into on-premises and cloud. Of these, the cloud segment will dominate the market over the forecast period.
By network functions, the global 5G core market is segmented into NSSF ( Network Slice Selection Function ), AF ( Application Function ) , AUSF ( Authentication Server Function ) , UDM ( Unified Data Management ) , NRF (NF Repository Function ) , NEF ( Network Exposure Function ), PCF ( Policy Control Function ) , UPF ( User Plane Function ) , SMF ( Session Management Function ) , and AMF ( Access And Mobility Management Function ) , among others.
By end user, the global 5G core market is segmented into enterprises and telecom operators. Of these, enterprises will spearhead the market over the forecast period.
Regional Analysis
North America to Rule 5G Core Market
Geographically, the global 5g core market is bifurcated into Europe, the Asia Pacific (APAC), the Middle East and Africa (MEA), North America, and South America. Of these, North America will rule the market over the forecast period for the presence of several key market players. The US holds the utmost market share, followed by Canada and Mexico.
APAC to Have Promising Growth in 5G Core Market
In the APAC region, the global 5g core market will have promising growth over the forecast period. The presence of major economies such as Singapore, China, and Japan, the multitude of investments made in deploying 5G core by key companies, these economies have supported and promoted industrial and technological growth, presence of a developed technological infrastructure, the growing acceptance of cloud-based solutions, emerging technologies like big data analytics and IoT, and mobility, growing demand for connected devices, the presence of a developed technological infrastructure, and adoption of 5G core solutions across industry verticals are adding to the global 5g core market growth in the region.
Europe to Have Favorable Growth in 5G Core Market
In Europe, the global 5g core market is predicted to have favorable growth over the forecast period for digital transformation trends across businesses.
In MEA, and South America, the global 5g core market is predicted to have steady growth over the forecast period.
Industry News
March 2021- Ericsson has launched a 5G core policy studio for making networks smarter. The tool handles the central management of every core network policy and is completely integrated with the dual-mode 5G core of Ericsson. The 5G core policy studio tool is a central provisioning engine which functions at the network’s core. This enables control and access of every policy that manages various 4G and 5G services through a simple to use GUI (graphical user interface).
March 2021- Nokia has accelerated Telenet cloud services with 5G core tech. The scope of this partnership will also comprise deployment, design, and integration services.
COVID-19 Impact on the Global 5G Core Market
The COVID-19 outbreak is undoubtedly expected to delay the deployment of the 5G system owing to delays in further trials and testing needed for validating the reliability and processing performance of the 5G stand-alone networks. The worldwide pandemic seems to have an additional impact, with telecommunication regulators suspending their 5G spectrum auction proposals, adversely impacting business growth. The outbreak has affected every sector of the society, which includes enterprises and individuals. Besides, as a result of the global pandemic, core countries like the US and China have experienced a sharp fall in exports of telecommunications equipment to the global market.
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