Spending on private LTE and 5G networks is set to hit $84.7 billion globally in 2031, up from just $17.3 billion in 2026, according to projections released by Juniper Research.
AI is the driving force behind the near 400% projected growth with the market research firm suggesting the need to ensure secure connectivity for critical applications creates a potentially lucrative opportunity for private network vendors.
The North America region is projected to spend the most, accounting for more than half of investments. China comes in second, set to vastly outpace investment from Europe, Africa, and the rest of Asia-Pacific.
Juniper Research identified Nokia as the leading vendor set to take advantage of future private network spending. Its continental rival Ericsson only placed fifth, with the market research firm finding Huawei best placed to challenge the Finnish firm. Samsung and Hewlett Packard Enterprise (HPE) placed third and fourth, respectively.
Juniper Research suggested that its leading vendor selection was determined by those who are “effectively moving away from general enterprise connectivity propositions toward solutions designed around specific industrial environments.”
Key verticals identified by the research firm to invest in private networks include already established segments like manufacturing and mining, while emerging sectors such as automated guided vehicles (AGVs) and autonomous mobile robots will increase in viability for vendors.
“As these use cases become key to enterprise deployments, network performance in itself will be insufficient as a differentiator," Nick Maynard, VP of research at Juniper Research, noted. "Providers must therefore develop architecture that is repeatable, but highly tailored to individual sectors.”
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