The study by Juniper Research indicates that while the value of private networks is poised to more than double by 2028, 5G technology will account for less than half of the overall market spend. Market growth has been hindered by high costs and complex integrations. However, digital transformation efforts in enterprises, aiming for Industry 4.0 and beyond, are driving the adoption of private networks, which are projected to reach $12.2bn in revenue, a significant increase from previous years.
The study highlights that global private cellular network revenue will reach $12.2bn by 2028, driven largely by the demand for digitisation and Industry 4.0.
Despite the growth potential, 5G's market share in private networks is expected to remain less than half, with only $5.6bn expected by 2028.
One of the principal challenges to market growth has been the cost and complexity of deploying private networks, despite their clear advantages.
Digital transformation, particularly in the context of Industry 4.0 and 5.0, has been identified as a significant driver for the adoption of private networks.
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