The global private 5G network market size is expected to reach $8.32 billion by 2027, according to a new study by Polaris Market Research. The report gives a detailed insight into current market dynamics and provides analysis on future market growth.
A private 5G network is a cellular network that comprises core network servers and cell sites to support connectivity and maximize WAN connection to mobile end points. In addition, it provides features, such as network slicing, low latency, high bandwidth, and more. Moreover, a private 5G network provides industries with high-performing networks and helps in operations of several technologies, such as automated guided vehicles (AGVs), drones, sensor technology, heavy machinery automation, robotics, and others.
In the wake of THE COVID-19 pandemic, Wi-Fi hotspots are overloaded, so demand has increased significantly for higher capacity and increased data speeds. Therefore, incorporating private 5G networks has increased among organizations, regulators, manufacturers, and others.