In 2019, a Harvard University market-sizing exercise calculated that there were 14.58 million potential venues for private LTE and, later, private 5G. The reality, as of December 2025, is that there are fewer than 2,000 private mobile network customer references worldwide, according to the Global mobile Suppliers Association (GSA).

A major stumbling block has been the telecom business model, but now some pioneers are shifting from ‘just connectivity’ to adding more value, and the ecosystem is beginning to mature. One exec from a European operator said recently, “the industry has finally realised that private 5G is just one piece of the puzzle for transforming enterprises’ operations”.