Curated News
By: NewsRamp Editorial Staff
March 20, 2024
Private Mobile Networks Set to Reach US$21 Billion by 2030
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- Private mobile networks spend to reach US$21 billion by 2030.
- Private networks will continue to be driven by applications, increasing their share to 42% at over US$9 billion in 2030.
- The explosive growth in private networks will enable enterprises to run multiple applications and compute-intensive use cases, fundamentally changing operations.
- 4G will dominate the market until 2028, when 5G will take over, lowering the barrier to entry for widespread deployment.
Impact - Why it Matters
The rapid growth of private mobile networks and the shift towards 5G technology will have a significant impact on enterprises, industries, and the telecom industry as a whole. As private networks become more widely adopted, the way operations run will fundamentally change, driving productivity and efficiency. This shift also presents opportunities for businesses to utilize their private networks infrastructure more efficiently to run multiple applications and compute-intensive use cases, ultimately impacting the way businesses operate and compete in the global market.
Summary
Private mobile networks are projected to reach a spend of US$21 billion by 2030, with applications accounting for over 40% of the value. The market is expected to scale up to surpass US$5 billion in 2027, driven by the growth in the applications layer. Manufacturing currently leads the way in spending on private networks, but other industries are set to see a boom in adoption as well. 4G (LTE) will remain the dominant technology in private mobile networks until 2028, when 5G is expected to take over the pole position.
Source Statement
This curated news summary relied on this press release disributed by 24-7 Press Release. Read the source press release here, Private Mobile Networks Set to Reach US$21 Billion by 2030
