Private Wireless Networks Forecasted to Skyrocket to $7.9 bn Market

GlobalData’s latest report indicates a booming trajectory for the private wireless network market, projecting a robust 23.3 percent compound annual growth rate (CAGR) from $2.8 billion in 2022 to an impressive $7.9 billion by 2027.
GlobalData report on private wireless network market revenueThe United States Leads the Way: The US seized the pole position as the largest market for private wireless networks in 2022, commanding a substantial 21 percent share of total revenue. Close behind was China, securing an 11 percent share.

Dominant Growth Markets: Forecasts reveal the US is poised to exhibit the most substantial growth rate, expected to soar at a CAGR of 30.6 percent over the forecast period. Meanwhile, Germany and the UK are forecasted to follow suit closely, with CAGRs of 26.4 percent and 26.2 percent, respectively.

Catalysts Driving Market Expansion: The rapid proliferation of private cellular networks is attributed to the early availability of spectrum, particularly in the aforementioned leading countries. Europe’s emphasis on industry automation and smart factories is propelling the adoption of private wireless networks across diverse sectors.

Businesses Embrace Reliable Connectivity: Enterprises are swiftly adopting private wireless networks, recognizing their pivotal role in ensuring dependable and secure connectivity, especially amid the burgeoning interconnectedness of business operations and the rise of the Industrial Internet of Things (IoT).

5G’s Impact and Industry Verticals: The rollout of 5G technology by key industry players, coupled with flexible solutions tailored for private enterprise networks, is a significant driving force. Key verticals such as manufacturing, mining, utilities, and government accounted for over half (51.3 percent) of the overall market in 2022.

5.5G Technology: Anticipated advancements in 5.5G technology, set to commence in 2025, are poised to revolutionize 5G private networks. These developments will unlock a myriad of capabilities within devices, leveraging advanced features such as NR-Light (Redcap) and expanded side link functionality.

The Fusion of Operational Technologies (OT) and IT Systems: The manufacturing industry’s convergence of operational technologies with IT systems is further fueling the adoption of private wireless networks. The demand for a robust and reliable communications infrastructure is becoming increasingly imperative.