In the swiftly shifting terrain of wireless communication, 5G networks have become a central force driving next-generation connectivity. As enterprises, industries, and governments aggressively pursue advanced digital infrastructure, private 5G networks have surfaced as a significant growth segment, creating novel opportunities for innovation and monetization. Analysts at Omdia, a top telecommunications research firm, provide a detailed lens into the 5G Radio Access Network (RAN) market and private 5G ecosystems for 2024 and beyond, illuminating the dominant companies and market trends that are molding the future of wireless technologies.
Ericsson emerges prominently as a leader throughout multiple aspects of the 5G RAN market. The 2024 Omdia market landscape report highlights Ericsson’s dual strength in both its comprehensive radio portfolio and solid business execution. This vendor ranks first by overall portfolio breadth and second in operational performance, putting it shoulder-to-shoulder with other global heavyweights such as Huawei, Nokia, and ZTE. Collectively, these four companies commanded an overwhelming 94% of the global RAN market share in 2024, underscoring the highly consolidated and competitive nature of this sector.
Private 5G networks, which provide enterprises with secure, dedicated wireless infrastructure tailored to localized needs, are increasingly pivotal. Omdia’s recent evaluations of end-to-end private 5G network providers echo the prevailing dominance of Nokia, ZTE, and Ericsson. These leaders excel at integrating industrial-grade applications and customized solutions that accelerate Industry 4.0 transformations. They emphasize key technologies like edge computing and hybrid mobile private network deployment, delivering scalable and flexible infrastructures that are critical to modern manufacturing, smart logistics, and augmented reality use cases. This capability not only drives their market ascendency but also fuels a wave of new business models around private wireless connectivity.
The private 5G segment is gathering momentum, with both Nokia and Ericsson reporting record sales in 2024. These figures mirror strong enterprise demand for tailored 5G solutions capable of providing high bandwidth and ultra-low latency connectivity. Such networks underpin next-level industrial IoT applications and digital automation efforts, optimizing operational efficiency and enabling entirely new services. Analysts project these trends will unlock multibillion-dollar revenue streams as private 5G increasingly integrates with broader industrial ecosystems and digital infrastructure investments.
While Ericsson’s reputation as a provider of end-to-end 5G solutions strengthens its position, the competitive landscape remains dynamic. Huawei, although a major player, is contending with geopolitical headwinds that impact its global market penetration. Meanwhile, Ericsson has secured significant contracts, including a marquee partnership with AT&T. Notably, AT&T’s choice to avoid Open RAN models with Ericsson betrays some industry caution surrounding the adoption of newer, multi-vendor, open architecture deployments. Despite the promise of Open RAN to disrupt legacy vendor dominance, uptake has been slower than anticipated, allowing longstanding suppliers to consolidate their grip on the RAN market.
Nokia’s global RAN footprint continues to grow steadily, increasing market share through strategic efforts despite some financial headwinds in certain business segments. The company’s focus on advancing private 5G offerings targeted at industrial clients bolsters its relevance in this critical market niche. Nokia’s investments in connectivity solutions specifically designed to integrate with Industry 4.0 initiatives—automating and digitizing industrial processes—underscore its commitment to a technology-driven transformation aligned with enterprise demands.
The overall RAN market has entered a phase of stabilization following a rapid expansion during 2017–2022. Both capital investments and deployment rates cooled in 2023 and into 2024 across many regions, though pockets of growth persist, particularly in markets like India, where demand is forecasted to stabilize only after 2025. Despite a plateau or potential modest contraction in overall RAN spending, the ongoing shift toward 5G network upgrades and expanding private network deployments ensures sustained relevance and revenue for prominent vendors.
At the core technology level, Ericsson’s leadership extends beyond RAN into 5G Core network solutions, powering a significant share of commercially active standalone 5G networks worldwide. Its cloud-native, dual-mode 5G core gaining traction as telecom operators push network modernization strategies highlights Ericsson’s comprehensive approach. The company’s ability to provide end-to-end 5G infrastructure from radio access through core network capabilities, enhanced by tailored private network options, consolidates its reputation as a one-stop solution provider.
In sum, the 2024 Omdia market analysis paints a portrait of concentrated leadership in global 5G RAN and private 5G network infrastructure. Ericsson, Nokia, and ZTE consistently stand out as innovators and market share leaders, supported by extensive product portfolios and enterprise-focused solutions. Their strategic emphasis on private 5G tailored for industrial and enterprise ecosystems marks a transformative phase in wireless connectivity, enabling novel applications, operational efficiencies, and new monetization avenues. Although the broader market growth faces diverse challenges—including regional disparities and geopolitical factors—the ongoing investments and strategic partnerships of these vendors lay the groundwork for enduring leadership and innovation in the expanding 5G landscape.
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