The North America 5G Enterprise Private Network Market is expected to witness market growth of 48.2% CAGR during the forecast period (2024-2031).
The US market dominated the North America 5G Enterprise Private Network Market by Country in 2023, and is expected to continue to be a dominant market till 2031; thereby, achieving a market value of $11.36 billion by 2031. The Canada market is expected to witness a CAGR of 51.2% during 2024-2031. Additionally, the Mexico market would experience a CAGR of 50.1% during 2024-2031.
A 5G enterprise private network is a dedicated, standalone wireless communication network that an organization builds and manages for its exclusive use, leveraging 5G technology. Unlike public 5G networks operated by telecom carriers, private networks give businesses greater control over their data traffic, network performance, and security. These networks use specific spectrum allocations, often licensed by governments, to ensure they are not shared with other users, allowing for optimized performance tailored to an organization’s specific needs.
The 5G enterprise private network market is rapidly evolving as businesses increasingly seek to leverage the capabilities of fifth-generation (5G) wireless technology to enhance their operations. As manufacturing, healthcare, transportation, and logistics industries move towards digital transformation and automation, the demand for robust, secure, and high-performance private 5G networks is expected to grow significantly.
Canada is also witnessing significant growth in adopting 5G enterprise private networks, particularly within the financial sector. As more than 80% of top financial institutions in Canada have embraced cloud technologies as part of their digital transformation strategies, 5G has become crucial in supporting these initiatives. The Canadian Bankers Association highlights that financial institutions increasingly rely on advanced connectivity solutions to improve customer experiences and streamline operations. With total assets in the Canadian financial sector valued at over CAD 276 billion, as reported by the Bank of Canada, the need for secure, high-performance networks has become paramount. Private 5G networks are being used to ensure compliance with regulatory frameworks while optimizing cloud-based processes, thus enhancing overall operational efficiency. Thus, the region will present lucrative growth opportunities for the market throughout the forecast period.
The US market dominated the North America 5G Enterprise Private Network Market by Country in 2023, and is expected to continue to be a dominant market till 2031; thereby, achieving a market value of $11.36 billion by 2031. The Canada market is expected to witness a CAGR of 51.2% during 2024-2031. Additionally, the Mexico market would experience a CAGR of 50.1% during 2024-2031.
A 5G enterprise private network is a dedicated, standalone wireless communication network that an organization builds and manages for its exclusive use, leveraging 5G technology. Unlike public 5G networks operated by telecom carriers, private networks give businesses greater control over their data traffic, network performance, and security. These networks use specific spectrum allocations, often licensed by governments, to ensure they are not shared with other users, allowing for optimized performance tailored to an organization’s specific needs.
The 5G enterprise private network market is rapidly evolving as businesses increasingly seek to leverage the capabilities of fifth-generation (5G) wireless technology to enhance their operations. As manufacturing, healthcare, transportation, and logistics industries move towards digital transformation and automation, the demand for robust, secure, and high-performance private 5G networks is expected to grow significantly.
Canada is also witnessing significant growth in adopting 5G enterprise private networks, particularly within the financial sector. As more than 80% of top financial institutions in Canada have embraced cloud technologies as part of their digital transformation strategies, 5G has become crucial in supporting these initiatives. The Canadian Bankers Association highlights that financial institutions increasingly rely on advanced connectivity solutions to improve customer experiences and streamline operations. With total assets in the Canadian financial sector valued at over CAD 276 billion, as reported by the Bank of Canada, the need for secure, high-performance networks has become paramount. Private 5G networks are being used to ensure compliance with regulatory frameworks while optimizing cloud-based processes, thus enhancing overall operational efficiency. Thus, the region will present lucrative growth opportunities for the market throughout the forecast period.
List of Key Companies Profiled
- Nokia Corporation
- Vodafone Group Plc
- Cisco Systems, Inc.
- Huawei Technologies Co., Ltd. (Huawei Investment & Holding Co., Ltd.)
- Samsung Electronics Co., Ltd. (Samsung Group)
- Verizon Communications, Inc.
- Ericsson AB
- ZTE Corporation
- Hewlett Packard Enterprise Company
- Qualcomm Incorporated (Qualcomm Technologies, Inc.)
Market Report Segmentation
By Frequency Band- Sub-6 GHz
- mmWave
- Large Enterprises
- Small & Medium-sized Enterprises
- Hardware
- Software
- Services
- Manufacturing
- BFSI
- Energy & Utilities
- Retail
- Government
- Public Safety
- Office Building
- Other Industry Vertical
- US
- Canada
- Mexico
- Rest of North America
Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market at a Glance
Chapter 3. Market Overview
Chapter 4. Competition Analysis - Global
Chapter 5. North America 5G Enterprise Private Network Market by Frequency Band
Chapter 6. North America 5G Enterprise Private Network Market by Organization Size
Chapter 7. North America 5G Enterprise Private Network Market by Component
Chapter 8. North America 5G Enterprise Private Network Market by Industry Vertical
Chapter 9. North America 5G Enterprise Private Network Market by Country
Chapter 10. Company Profiles
Companies Mentioned
Some of the key companies profiled in this North America 5G Enterprise Private Network Market include:- Nokia Corporation
- Vodafone Group Plc
- Cisco Systems, Inc.
- Huawei Technologies Co., Ltd. (Huawei Investment & Holding Co., Ltd.)
- Samsung Electronics Co., Ltd. (Samsung Group)
- Verizon Communications, Inc.
- Ericsson AB
- ZTE Corporation
- Hewlett Packard Enterprise Company
- Qualcomm Incorporated (Qualcomm Technologies, Inc.)
Methodology
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