Market Analysis
Market Research Future (MRFR) estimates the global private LTE market size to reach USD 10.6 Billion at a CAGR of 12.90% from 2022 to 2030 (forecast period).
Several Factors Contributing to Market Growth
A private LTE network is distinct from conventional networks that use connectivity technologies such as Ethernet and Wi-Fi to provide safe and dependable communications. Private LTE networks provide a connection for human and machine interactions via a single, dependable network that communicates via portable radios and provides new revenue streams for Internet of Things (IoT)-enabled devices.
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Mobile communication technology advancements, such as the spread of 4G networks, have profoundly impacted businesses, corporations, and cities all over the world. This has raised the need for private Long Term Evolution (LTE) networks, which provide dedicated high network capacity and high speed 4G mobile communications capabilities. These networks enable organizations to improve operational efficiency and provide innovative network solutions, which boosts the demand for the high quality of services (QoS) to end users.
A surge in demand for unique and defined network qualities, increasing deployment of private LTE networks in public safety agencies, adoption of LTE technology in smart cities applications, and the emergence of 5G in conjunction with private LTE are some of the major factors driving the growth of private LTE networks.
Market Segmentation
The global private LTE industry has been segmented based on technology, services, spectrum band, application, and industry vertical.
Based on the technology, the worldwide private LTE market has been divided into time division duplex (TDD) and frequency division duplex (FDD).
Depending on the spectrum band, the global private LTE market has been segmented into Licensed Shared Access (LSA), Licensed-Assisted Access (LAA), MulteFire, and Citizens Broadband Radio Service (CBRS).
By services, the global private LTE market has been categorized as professional services and managed services. The professional services segment has further been split into consulting services, support and maintenance services, and integration and deployment services.
Based on application, the global private LTE market has been segmented as real-time surveillance, operations visibility and optimization, authentication and access control, worker safety monitoring, remote diagnostics and predictive maintenance, logistics and supply chain management, and asset management and uptime assurance.
On the basis of industry vertical, the worldwide private LTE market has been divided into mining, oil & gas, healthcare, utilities and power, industrial manufacturing, government, and defense.
Regional Analysis
North America to Dominate the Global Market
North America dominated the worldwide private LTE market in 2018 and is predicted to continue to do so during the forecast period. Rising vendor advancements to develop high-end LTE solutions, as well as expanding government initiatives to provide CBRS spectrum for vendors to implement networking solutions for government, commercial, and public safety organizations, are driving market expansion.
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Key Players
According to MRFR analysis, some of the major players in the global private LTE market include SAMSUNG (South Korea), Nokia Corporation (Finland), LM Ericsson (Sweden), Sierra Wireless (Canada), Huawei Technology Co. Ltd (China), NetNumber Inc. (Netherlands), Verizon (US), Cisco Systems, Inc. (US), Qualcomm Incorporated (US), ARRIS International Limited (US), Future Technologies, LLC (US), Boingo Wireless, Inc (US), Casa Systems (US), and General Dynamics Mission Systems, Inc (US).
Apart from these, some other vendors that operate in the global private LTE market include LEMKO Corporation (US), PDVWIRELESS (US), Quortus Limited (UK), Ambra Solutions Inc. (Canada), Zinwave (US), Athonet SRL (Italy), Mavenir (US), and Star Solutions (Canada).
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