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The market for Private Network Services Market size is forecast to reach $20 billion by 2026, growing at a CAGR of 4.5% from 2021 to 2026. The Private Network Services Market is estimated to witness substantial growth over the forecast period primarily due to reduction in deployment cost and decline in downtime costs driving the market growth. Private network services enable mobile network operators and mobile service providers to quickly and securely deliver private LTE/5G network services to the enterprises. Private network service operators can offer enterprises a carrier-grade private network experience on the hybrid cloud to run and operate business critical applications that require low latency, high bandwidth and end-to-end security. The rising technological advancements and modernization in the field of network services, especially virtual private networks and storage area networks for data centers will further create new opportunities for private network services market.
Private Network Services Market Segment Analysis – By Network Type
The market segment by network type into Wide Area Network, Large Area Network, Virtual Private Network, Enterprise Private Network, Storage Area Network and Others. The WAN segment is the leading segment of all the segments in terms of revenue at 26.5% in 2020. It is due to widespread adoption and acceptance of the WAN solutions across organizations in any industry or business verticals. WAN connectivity can be established to permit users to access private or public gateways based on the customer’s requirements.
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Private Network Services Market Segment Analysis – By End-User
The market segment by end-user into Telecommunication and IT, Retail & E-Commerce, Government, Media & Entertainment, Transportation & Logistics, Health Care, BFSI, manufacturing and others. The manufacturing segment is the leading segment of all the segments in terms of revenue at 16.9% in 2020. Manufacturing is one of the key sectors where private 5G networks are gaining traction as many companies are looking forward to construct their own networks in order to take the concept of industry 4.0 to the next level. For Instance. Mercedes-Benz is one of the large automotive manufacturers looking to do this and has in fact been working with German Telco Telefonica/02 in order to realize its private 5G network ambitions to promote digital transformation within its operations.
Private Network Services Market Segment Analysis – By Geography
Private Network Service’s market by geography has been segmented into North America, Europe, APAC, South-America and RoW. North America is expected to dominate the Private Network Services Market with a share of 36.8% in 2020 due to the increasing rate of cybercrime and increase in the number of cellular/mobile subscribers. The region is transforming dynamically with respect to the adoption of new technologies across various sectors. Enterprises in this region are the early adoptors of LAN, WAN and Wi-Fi. North America has sustainable and well established economies which enable them strongly invest in R&D activities which contribute to the development of innovative technologies in the private network services.
Private Network Services Market Drivers
Increase in number of cellular/mobile subscribers driving the market growth
Private Network Services is witnessing a rise in demand due to heavy adoption of cellular networks in the last few years and continue to rise in the forecast period. Private 5G cellular network comprises of core network servers and cell sites to support the connectivity and maximizes WAN connection to mobile end points. Private cellular network offer features such as network slicing, far low latency, superior bandwidth. Moreover, a private 5G cellular network provides industries with high-performing networks and helps in operations of several technologies such as automated guided vehicles, drones, sensor technology, and heavy machinery automation and others. In the wake of covid-19 pandemic wi-fi hotspots are overloaded and demand has increased for higher capacity and data speeds that incorporate private 5G network have increased among the private organization and potential users globally.
Ultra-high reliability driving the market growth
The ultra-high reliability by Private Network Services is the biggest advantage compared to public network services. Many industries require 99% network reliability and this is a challenge to achieve with existing private network. A 5G network with coordinated multiple points technologies increases reliability and addresses this need. Private network services have many transmitters and receivers organized in small cells that transfer user data to the nearest receiver code. Private networks thus face less interference as compared to public 5G networks. Besides, the transmitters and receivers have data feedback capability enabling them to share channel conditions. This kind of approach promises reliability with private networks which in turn drives market growth.
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Private Network Services Market Challenges
Regulatory issues are the biggest challenges of private network services. To improve private 5G network throughput one needs more radio spectrum. Radio spectrum is not an easily available resource most of it comes under licensed spectrum. Mobile operators pay a significant price to use this spectrum and in most countries usage is regulated by government agencies. Private networks today need demand spectrum from low – (Sub-1 GHz), mid-(1-6 GHz) and high bands above 6 GHz. This can be accomplished with integration of public and private network services.
Private Network Services Market Landscape
Product launches, acquisitions, and R&D activities are key strategies adopted by players in the Private Network Services Market. The Private Network Services top ten companies include:
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A. Virtual Private Network Market
B. Wireless Mesh Networking Market
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