By 2025, the 5G core market size will reach US$9.497 million

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According to ResearchAndMarkets, the global 5G core market size is expected to grow from USD 630 million in 2020 to USD 9.497 billion in 2025, at a CAGR of 72.0% during the forecast period.

The 5G core market is gaining attention due to the development of cellular network technology, which provides higher data speeds and lower latency. The 5G core market is gaining attention due to its cloud-based localization and service-based architecture, which will improve the modularity of products and focus more on low latency, URLLC (ultra-relaible and Low Latency Communication), eMBB (Enhanced Mobile Broadband) and mMTC (Massive Machine Type Communication) products.

Managed Services and Enterprise segments to grow at the highest CAGR

Managed services in the 5G core market outsource the entire network or part of it on an active management basis to improve network operations and reduce organizational expenses. These services outsource solutions related to network security, storage, desktop, server, host, application and mobile device management.

Since the 5G core market is still in its initial stage, most suppliers are unable to provide customers with independent solutions and related services. This forces them to manage some services provided by suppliers who are experts and can provide customers with the services they need.

Enterprises are undergoing digital transformation across different industries. Enterprises are at various stages of implementing new technologies to develop new solutions, improve service delivery, increase operational efficiency, reduce costs, gain competitive advantage, and meet the growing expectations of customers.

5G is about to enter the list of technologies that enterprises are considering through standalone 5G solutions that will support a variety of new industrial applications such as robotics in engineering and design, big data analytics, IIoT and AR/VR, as well as new ways to provide remote support and training.

Asia Pacific will be the fastest growing region in the 5G core market

There are several growing economies in the Asia Pacific region, such as China, India, and Japan, which are expected to witness high growth in the 5G core market. These countries have been supporting and promoting industrial and technological development. Moreover, they have well-developed technological infrastructure that is promoting the adoption of 5G core solutions across all industry verticals.

The growing acceptance of cloud-based solutions, emerging technologies such as IoT, and big data analytics and mobility are driving the networking market in Asia Pacific. Asia Pacific is one of the largest markets for connected devices.