Next Generation Network Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023 - 2028)
The next generation network market is expected to register a CAGR of 7.3% during the forecast period.
Key HighlightsThe next generation network market is highly competitive owing to the presence of several prominent players in the market running their operations in domestic and international markets. The market appears to be moderately competitive, with the major players adopting strategies such as product innovation, strategic partnerships and mergers, and acquisitions primarily to widen their product portfolio and expand their geographic reach. Some of the major players in the market are Cisco Systems, Inc., Huawei Technologies, ZTE Corp., and Ericsson, among others.
In September 2022, Tata Communications, a global digital ecosystem enabler, launched a dedicated private 5G Global Centre of Excellence (CoE) in Pune, India, to accelerate Industry 4.0 applications and capabilities for enterprises. This new CoE is an agile, secure indoor facility to test and trial industry use cases. Tata Communications has developed use cases across automotive, metals and mining, airports and seaports, manufacturing, logistics, and healthcare sectors.
Further, in March 2022, ZTE Corporation, a major international supplier of mobile internet telecommunications, corporate, and consumer technology solutions, introduced an array of new 5G products and solutions at the Mobile World Congress in Barcelona, Spain. The new technologies and solutions demonstrate ZTE's strong commitment to establishing the simplest 5G network with energy efficiency, accelerating industry digital transformation with all-in-one private networks, and operating complicated networks with simplicity.
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