Private 5G Network Market Size, Share, Trends, Industry Analysis Report By Component (Hardware, Software & Services), By Operational Frequency, By Spectrum, By Vertical, By Region – Market Forecast, 2025–2034

The private 5G network market size is expected to reach USD 193.79 billion by 2034, according to a new study by Polaris Market Research. The report “Private 5G Network Market Share, Size, Trends, Industry Analysis Report By Component (Hardware, Software & Services), By Operational Frequency, By Spectrum, By Vertical, By Region; Market Forecast, 2025–2034” gives a detailed insight into current market dynamics and provides analysis on future market growth.

A private 5G network can be defined as a dedicated wireless communication infrastructure designed to deliver secure, high-speed, and low-latency connectivity for enterprise-specific applications. The market is witnessing growth due to the increasing integration of private 5G with advanced automation technologies, enabling industries to enhance operational efficiency, streamline workflows, and support mission-critical processes in real time. This convergence allows organizations to unlock the potential of AI, IoT technology, and edge computing within controlled network environments, ensuring both performance consistency and data confidentiality. The role of private 5G as a foundation for next-generation industrial innovation continues to strengthen as enterprises aim for greater control over their connectivity solutions.

The private 5G network market is driven by the rise of ecosystem collaboration among technology providers, network operators, and cloud service companies. This collaborative approach accelerates the deployment of scalable and flexible network solutions tailored to diverse enterprise needs. These partnerships are enabling more adaptive, future-ready connectivity models by combining expertise in network infrastructure with capabilities in cloud computing, analytics, and AI-driven management. This trend supports faster innovation cycles and also positions private 5G as a strategic enabler for long-term digital transformation across multiple industries.

Private 5G Network Market Report Highlights

In terms of component, the hardware segment dominated with 73.33% revenue share in 2024, driven by essential investments in radios, base stations, and core equipment for private 5G deployments.

Based on operational frequency, the mmWave segment is expected to register the highest CAGR of 47.7% during the forecast period, fueled by its ultra-low latency capabilities enabling advanced applications such as AR/VR and autonomous systems.

North America led with 45.97% global share in 2024, supported by advanced infrastructure, key industry players, and early adoption of next-gen connectivity.

The market in Asia Pacific is expected to register the highest CAGR of 50.0% by 2034, propelled by industrial growth, infrastructure projects, and Industry 4.0 integration.

A few global key players in the private 5G network market include Amazon; Cisco Systems; Ericsson; Fujitsu; Huawei Technologies Co., Ltd.; Mavenir; Microsoft; NEC Corporation; Nokia Corporation; and ZTE Corporation.

Polaris Market Research has segmented the private 5G network market report on the basis of component, operational frequency, spectrum, vertical, and region:

By Component Outlook (Revenue, USD Billion, 2020–2034)

Hardware

Radio Access Network

Core Network

Backhaul & Transport Interconnecting

Software & Services

Installation & Integration

Data Services

Support & Maintenance

By Operational Frequency Outlook (Revenue, USD Billion, 2020–2034)

Sub-6 GHz

mmWave

By Spectrum Outlook (Revenue, USD Billion, 2020–2034)

Licensed

Unlicensed/Shared

By Vertical Outlook (Revenue, USD Billion, 2020–2034)

Manufacturing

Food & Beverages

Automotive

Pharmaceuticals

Electrical & Electronics

Heavy Machinery

Clothing & Accessories

Other Manufacturing Verticals

Energy & Utilities

Transportation & Logistics

Aerospace & Defense

Government & Public Safety

Corporates/Enterprises

Mining

Healthcare

Oil & Gas

Others

By Regional Outlook (Revenue, USD Billion, 2020–2034)

North America

U.S.

Canada

Europe

Germany

UK

France

Italy

Spain

Russia

Netherlands

Rest of Europe

Asia Pacific

China

India

Japan

South Korea

Indonesia

Malaysia

Vietnam

Australia

Rest of Asia Pacific

Latin America

Argentina

Brazil

Mexico

Rest of Latin America

Middle East & Africa

UAE

Saudi Arabia

Israel

South Africa

Rest of Middle East & Africa Show more