What is Global 5G Core Network Market?
The Global 5G Core Network Market is essentially the backbone of the new generation of mobile communications, known as 5G. This market encompasses the advanced technologies and infrastructure required to support the high-speed, low-latency, and massively connected world of 5G. Unlike its predecessors, the 5G Core Network is designed to be more flexible, scalable, and efficient, leveraging cloud-native network functions and software-defined networking to deliver a wide range of services from high-definition video streaming to autonomous vehicle control, and IoT applications. At its core, the market represents the investment and innovation in the hardware, software, and services that enable the seamless connectivity and management of a vast array of devices and data across the globe. With an initial valuation of US$ 1286 million in 2023, the market is on a trajectory to expand significantly, reflecting the growing demand for 5G services across various sectors including telecommunications, manufacturing, healthcare, and more. This expansion is not just about enhancing mobile broadband experiences but also about enabling new services that can transform industries and economies.
Data Layer Network Function, User Plane Network Functions, Control Plane Network Functions in the Global 5G Core Network Market:
Diving into the Global 5G Core Network Market, it's crucial to understand its foundational components: Data Layer Network Function, User Plane Network Functions, and Control Plane Network Functions. These elements work in tandem to ensure the 5G network operates seamlessly, efficiently, and can handle the massive amount of data traffic characteristic of 5G technology. The Data Layer Network Function is all about the storage and management of data across the network, ensuring that user data is handled securely and efficiently, enabling a high level of personalization and service quality. User Plane Network Functions are responsible for the actual handling of data packets from users' devices, facilitating high-speed data transmission and direct communication paths within the network infrastructure. This is where the rubber meets the road in terms of delivering the high data rates and low latency promised by 5G. Control Plane Network Functions, on the other hand, are the brain of the operation, managing the network's resources, orchestrating traffic flow, and ensuring that connections are established and maintained effectively. These functions work together to manage the complexity of 5G networks, enabling them to support a wide range of applications and services, from enhanced mobile broadband to mission-critical communications and massive IoT deployments. Understanding these components is key to appreciating the capabilities and potential of the 5G Core Network Market.
AMF（Access and Mobility Management Function), UDM（Unified Data Management）, SMF（Session Management Function), Others in the Global 5G Core Network Market:
The Global 5G Core Network Market finds its application in several critical areas, including AMF (Access and Mobility Management Function), UDM (Unified Data Management), SMF (Session Management Function), among others. These functions are pivotal in managing and optimizing the performance and efficiency of 5G networks. AMF is at the heart of ensuring seamless access and mobility for users, facilitating smooth handovers and maintaining continuous connectivity as users move across different network nodes. This function supports the dynamic nature of 5G connectivity, enabling a wide range of use cases from mobile broadband to vehicle-to-everything (V2X) communications. UDM takes on the role of managing user data, including subscription information and service profiles, which is crucial for personalizing services and ensuring data privacy and security. SMF is key to managing sessions, which involves establishing, maintaining, and terminating data connections. This function ensures that data flows efficiently across the network, optimizing resource use and service quality. Together, these functions enable the 5G Core Network to deliver on its promise of high-speed, reliable, and flexible connectivity, supporting a wide array of applications from streaming video to industrial automation, and paving the way for innovative services that can transform industries and enhance our daily lives.
Global 5G Core Network Market Outlook:
The market outlook for the Global 5G Core Network Market presents a promising future, with its value projected to grow from US$ 1286 million in 2023 to US$ 1950.1 million by 2030, marking a Compound Annual Growth Rate (CAGR) of 6.0% during the forecast period of 2024 to 2030. This growth is underpinned by significant advancements and deployments in 5G infrastructure, particularly in China, which has emerged as a global leader in this space. By the end of 2022, China had established a staggering 2.312 million 5G base stations, accounting for over 60% of the world's total, and had achieved gigabit city construction standards in 110 cities. These developments are indicative of the rapid pace at which 5G technology is being adopted and the substantial investment being funneled into 5G infrastructure globally. Furthermore, with 561 million 5G users, China alone represents a significant portion of the global 5G user base, highlighting the massive demand and potential for 5G services. This market outlook underscores the transformative impact of 5G technology on telecommunications and various sectors, driving the need for robust 5G core networks that can support the burgeoning demand for high-speed, reliable, and efficient connectivity.
| Report Metric | Details |
| Report Name | 5G Core Network Market |
| Accounted market size in 2023 | US$ 1286 million |
| Forecasted market size in 2030 | US$ 1950.1 million |
| CAGR | 6.0% |
| Base Year | 2023 |
| Forecasted years | 2024 - 2030 |
| Segment by Type |
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| Segment by Application |
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| By Region |
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| By Company | Qualcomm, Intel, Avago, Skyworks, Ericsson, Samsung, NEC, Mediatek, Cisco, Marvell, Qorvo, Huawei, LG, NTT DoCoMo, SK Telecom, ZTE, Nokia |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
