As per the current market research conducted by the CMI Team, the global Mobile Core Network Market size is expected to record a CAGR of 8.2% from 2023 to 2032. In 2022, the market size is projected to reach a valuation of USD 32.4 billion. By 2032, the valuation is anticipated to reach USD 48.3 billion.
Mobile Core Network Market: Growth Factors and Dynamics
- Increasing Data Traffic: The surge in data consumption, driven by video streaming, IoT devices, and cloud-based applications, is a significant growth factor. Mobile core networks must handle this escalating data traffic efficiently, leading to investments in core network infrastructure.
- Network Virtualization and Cloud Native Solutions: Network virtualization and cloud-native architectures are becoming increasingly prevalent. They offer scalability, flexibility, and cost-effectiveness, enabling operators to adapt quickly to changing network demands and reduce operational expenses.
- Security Concerns: As mobile networks become more interconnected and data-sensitive services like mobile banking and healthcare rely on them, security concerns grow. The mobile core network market is evolving to incorporate advanced security measures to protect against cyber threats and data breaches.
- Edge Computing Integration: The integration of edge computing within the mobile core network is gaining prominence. This allows for faster processing of data and reduced latency, which is crucial for applications like autonomous vehicles and augmented reality.
- Competition and Market Consolidation: Intense competition among telecom equipment vendors is driving innovation and driving the market’s dynamics. Additionally, mergers and acquisitions among key players are reshaping the mobile core network landscape, leading to greater consolidation and collaboration in the industry.
- 5G Rollout Driving Expansion: The mobile core network market is experiencing robust growth due to the global rollout of 5G networks. As 5G technology offers increased data speeds, lower latency, and support for a massive number of connected devices, telecom operators are upgrading their mobile core networks to accommodate these new capabilities.
- Network Slicing for Diverse Services: Network slicing is emerging as a key dynamic in the mobile core network market. It allows operators to create multiple virtual networks within a single physical infrastructure, each tailored to specific service requirements. This enables them to efficiently support a wide range of services, from ultra-reliable low-latency communications (URLLC) for critical applications to massive machine-type communications (mMTC) for IoT, contributing to revenue diversification and enhanced customer experiences.
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Mobile Core Network Market: Partnership and Acquisitions
- Cisco Systems and Acacia Communications: In 2021, Cisco Systems acquired Acacia Communications to enhance its optical networking capabilities, which are crucial for mobile core network infrastructure and data transport. Cisco’s ‘Internet for the Future’ strategy is focused on software, silicon, and optics as critical building blocks for introducing disruptive innovations across multiple domains.
- Ericsson and Cradlepoint: In 2020, Ericsson acquired Cradlepoint to bolster its enterprise offerings and edge computing capabilities, aligning with the growing trend of edge computing integration in mobile core networks. The investment is key to Ericsson’s ongoing strategy of capturing market share in the rapidly expanding 5G Enterprise space.
Mobile Core Network Market: COVID-19 Analysis
The COVID-19 pandemic has had a significant impact on the Mobile Core Network Market, with the industry experiencing both positive and negative effects. Here are some of the key impacts:
- Delayed Network Infrastructure Projects: The COVID-19 pandemic disrupted supply chains and restricted on-site work, leading to delays in the deployment of 5G infrastructure and mobile core network upgrades. This hindered the market’s growth as operators faced challenges in completing planned projects.
- Shift in Traffic Patterns: With lockdowns and remote work becoming the norm, there was a shift in mobile network traffic patterns. While data usage surged in residential areas, it declined in commercial districts and event venues. Mobile operators had to adapt their network strategies to meet these changing demands.
List of the prominent players in the Mobile Core Network Market:
- Nokia Corporation
- Ericsson AB
- Huawei Technologies Co. Ltd.
- Cisco Systems Inc.
- Samsung Electronics Co. Ltd.
- ZTE Corporation
- NEC Corporation
- Hewlett Packard Enterprise (HPE)
- Mavenir Systems Inc.
- Affirmed Networks Inc
- Others
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