The major contributing factor for the growth of the market for private LTE can be the growing demand for unique and better quality network, and the convergence of 5G and private LTE. The enhanced and evolving technologies of 5G standards and can be used in combination with enhanced 4G convergent techniques to enable smooth evolution to next-generation networks.
Market Size – USD 3.31 billion in 2019, Market Growth – CAGR of 7.06%, Market Trends – Increasing Demand for a high-quality network.
The Private LTE Market is expected to grow from USD 3.31 billion in 2019 to USD 5.35 billion by 2027, at a CAGR of 7.06% during the forecast period. The increasing demand for high-quality networks and the idea of convergence between 5G and LTE network are the major driving factors for this market. Other contributing factors to the growth of this market are the growth of mobile network technology advancements, like 4G and Wi-Fi hotspots. The increase in infrastructures in developing countries is also a major driving factor for the private LTE market.
The issues in the spectrum fragmentation of the LTE network may restrain the growth of this market since there are too many spectrum bands used at too many places for the deployment of LTE networks.
Key players within private LTE market are Nokia (Finland), Ericsson (Sweden), Huawei (China), NEC (Japan), Verizon (US), Cisco (US), Samsung (South Korea), Comba (China), Arris International (US), Sierra Wireless (Canada), NetNumber (US), Lemko (US), General Dynamics (US), Future Technologies (US), pdvWireless (US), Quortus (UK), Ambra Solutions (Canada), Zinwave (US), Redline Communications (Canada), Athonet (Italy), Mavenir (US), Star Solutions (Canada), Druid Software (Italy), Ursys (Australia), and Luminate Wireless (US).
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Further key findings from the report suggest
- The Private LTE Market is segmented by Technology into Frequency division duplex and time division duplex. FDD uses different bands for the transmitter and receiver side, thus making it easier to manage symmetric traffic, such as voice applications, in broadband wireless networks. For this reason, FDD is estimated to grow with the highest CAGR of 7.08% in the given forecast period.
- The Private LTE Market is segmented by Service into Consulting, Integration and deployment, support and maintenance and managed services. The segment of integration and deployment is expected to grow with high CAGR of 8.1% in the given forecast period since it enables organizations in integrating all its systems in one unique network. The managed service segment can also grow with higher CAGR since they enable the organization to connect across all business functions and regions along with the relevant information related to several high-quality services, like intelligent design, operations, and maintenance.
- The Private LTE Market is segmented by Application into Public safety, logistics & supply chain, and asset management. The public safety segment is to witness the highest growth of 8.8% CAGR in the given forecast period since with introduction of IoT technology and machine learning in various industries and the increasing device connections, organizations facing more and more data and network security issues.
- The Private LTE Market is segmented by Industry into mining, energy and utilities, manufacturing, transportation, defense, and healthcare. Mining segment is supposed to have a high growth of 7.5% in the given forecast period, in its demand since, mining operations generally face a number of issues in connectivity, because they often operate in remote areas with little to no cellular coverage and thus have complicated conditions and demands, such as extending communications underground.
- The Private LTE Market is segmented geographically into North America, Europe, Asia Pacific and Rest of the world. APAC is supposed to witness high growth in its CAGR of 7.8% in the given forecast period, since it is the home for a number of developing economies, like China and India. Further, Japan and China are the Largent hubs for automobiles, information technology products, and electronic products.
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For this report, the market has been divided into segments on the basis of technology, service, application, industry and regional analysis.
Technology Outlook (Revenue, USD Million; 2017–2027)
- Frequency Division Duplex
- Time Division Duplex
Service Outlook (Revenue, USD Million; 2017–2027)
- Integration And Deployment
- Support And Maintenance
- Network Testing
- LTE Device Testing
- Managed Services
- Network Planning
- Network Orchestration
Application (Revenue, USD Million; 2017–2027)
- Public Safety
- Real Time Streaming
- Smart Device Network
- Supply Chain
- Asset Management
Industry Outlook (Revenue, USD; 2019-2027)
- Energy And Utilities
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Regional Outlook (Revenue, USD Million; 2017–2027)
- North America
- Asia Pacific
- Middle East & Africa
- Latin America
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