The global 5G core market size is estimated to register a CAGR of over 52.7% to reach USD 16,145.1 million by the end of 2027.
The outlook of the global 5G core market appears extremely positive, mainly due to the rising demand for cloud-native 5G core network platforms. Besides, increasing 5G implementations and the demand for additional support-building networks substantiate the market size.
With the increasing demand for improved communication systems, the market is projected to witness significant revenue gains in the next few years. In this regard, Market Research Future (MRFR) asserts that the global 5G core market would grow at a colossal CAGR during the forecast period (2020 – 2027).
Additionally, advances in 5GC virtualization techniques such as Cloud Native and Micro-Service boost the market size. Growing needs for building and distribution of different slices, including URLLC (ultra-reliability and low latency communication), eMBB (enhanced mobile broadband), and mMTC (massive machine-type communications), influence the market value.
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Global 5G Core Market - Competitive Analysis
Fiercely competitive, the 5GC market appears fragmented due to the competitive landscape formed by many notable players and new entrants. Product launch, agreement & partnership, M&A, and expansion are some of the strategic initiatives traced from the recent proceedings in the market.
Players leading the 5GC market include Ericsson ( Sweden ), Nokia ( Finland ), Huawei ( China ), Samsung ( South Korea ), ZTE ( China ), Affirmed Networks ( US ), Mavenir( US ), IPLOOK ( China ), Cisco( US ), Oracle( US ), HPE ( US ), Athonet (Italy), Cumucore ( Finland), Casa Systems ( US ), Druid Software( Ireland ), Metaswitch( UK ), and NEC( Japan ), among others.
5G Core Market – Segments
The market report is segmented into components, deployment modes, network functions, end-users, and regions. The component segment is sub-segmented into solutions and services. The deployment mode segment is sub-segmented into on-cloud and on-premises.
The network functions segment is sub-segmented into SMF (session management function), AMF (access & mobility management function), UPF (user plane function), PCF (policy control function), NRF (NF repository function), NEF (network exposure function), UDM (unified data management), NSSF (network slice selection function), AF (application function), AUSF (authentication server function), and others.
The end-user segment is sub-segmented into telecom operators and enterprises. The region segment is sub-segmented into Americas, Asia-Pacific, Europe, Middle East & Africa, and rest-of-the-world.
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5G Core Market – Regional Analysis
North America dominates the global 5G core market. The largest market share attributes to the increase in adoption of 5G networks in commercial & industrial setups and government organizations. Besides, the strong presence of well-established market players and technology development centers drives market growth. Additionally, substantial investments made in building 5G core and cloud technologies foster the market shares.