Frost & Sullivan finds that the developing global private cellular network market will likely expand to $6.32 billion by 2026 from $1.83 billion in 2021 at an impressive compound annual growth rate (CAGR) of 28.1%. Of this total, the contribution of private 5G networks will be significant, reaching $5.05 billion over the forecast period from $600 million in 2021.

According to the latest research from Strategy Analytics, 5G comprised less than 1% of IoT connections in 2020 but will rise to 40% of all the overall connections by 2030, as highlighted in its most recent IoT Market Forecast and Analysis report.

The Strategy Analytics’ research report "Cellular Baseband Forecast 2020 - 2025: 5G ASP Strength to Drive Revenue Growth" finds that Qualcomm, MediaTek, Samsung LSI, Apple, Unisoc, and HiSilicon will ship the most baseband processors for cellular devices through 2025.

The immense appetite for private networks in the enterprise domain keeps rising and rising as private cellular network deployments within the enterprise domain will generate equipment revenues of more than US$64 billion by 2030.. While large enterprises will drive the market for the next 10 years, enterprises with annual revenues between US$250 million and US$1 billion will account for 40% of private networks by 2030,