A new report by Juniper Research has found that the enhanced capabilities of 5G are driving enthusiasm and awareness of private cellular networks; bringing annual spend on network hardware and services to almost $12 billion globally by 2023, growing 116% from the $5.5 billion expected for 2021.
5G deployments have a key role to play here: over 60% of base stations used in these deployments in 2023 will be 5G, thanks to its ultra-low latency, and signal propagation properties that allow deployment in environments where conventional networks struggle.
The new report notes that these networks will be almost entirely business driven. The most prominent sectors will be manufacturing, mining, and the energy industry; accounting for 59% of spend in 2023.
