Private LTE Market worth USD 19,252.4 million, growing at a 12.90% CAGR by 2032 – Report by Market Research Future (MRFR)
Research Reports
Aug 11, 2023
Market Overview:
In the latest report from Market Research Future (MRFR), an extensive research study has examined the Private LTE Market. The analysis encompasses various dimensions including Technology, Services, Professional Services, Spectrum Band, Application, and Region, with a forecast extending till 2032. Projections indicate that the worldwide private LTE market is expected to achieve a valuation of approximately USD 19,252.4 million by 2032, experiencing a Compound Annual Growth Rate (CAGR) of 12.90% from forecast period 2023-2032.
Key Players:
Eminent industry players profiled in the private LTE market report include:
- Nokia Corporation (Finland)
- LM Ericsson (Sweden)
- Qualcomm Incorporated (US)
- ARRIS International Limited (US)
- Sierra Wireless (Canada
- Future Technologies, LLC (US)
- Boingo Wireless, Inc (US)
- Verizon (US)
- Cisco Systems, Inc. (US)
- SAMSUNG (South Korea)
- Casa Systems (US),
- General Dynamics Mission Systems, Inc. (US
- Huawei Technology Co. Ltd (China)
- NetNumber Inc. (Netherlands)
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Scope of the Report – Private LTE Market:
| Report Metrics | Details |
| Market Size by 2032 | USD 19,252.4 million |
| CAGR during 2023-2032 | 12.90% |
| Base Year | 2022 |
| Forecast | 2023-2032 |
Market Segmentation:
The global private LTE market is bifurcated based on application, spectrum band, professional services, services, and technology.
By technology, TDD will lead the market over the forecast period.
By services, professional services will domineer the market over the forecast period.
By professional services, support & maintenance services will spearhead the market over the forecast period.
By spectrum band, unlicensed/shared will hold the lions share in the market in the assessment period.
By application, worker safety monitoring will have the largest share in the market in the forecast period.
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Drivers :
Increasing Demand for Wireless Networks Driven by Business Needs The surge in high-speed internet requirement is a direct outcome of rapid technological advancements, including artificial intelligence, the Internet of Things (IoT), and automation. Businesses are progressively transitioning their operations onto various digital platforms, such as cloud infrastructure and industrial automation, intensifying the need for wireless networks that offer heightened security for internet connectivity and data transmission. Amidst this backdrop, private LTE technology is gaining prominence. Additionally, the COVID-19 pandemic compelled a substantial remote workforce, underscoring the necessity for reliable and affordable internet connectivity to support daily tasks from home. These factors collectively contribute to the propulsion of the global private LTE market.
Opportunities :
Thriving Telecommunication Sector Presents Strong Prospects A key factor contributing to a positive outlook for the industry is the substantial worldwide expansion of the telecommunications field. Private LTE brings forth enhanced data transfer speeds and expanded bandwidth, effectively addressing issues of unstable internet connections during video and audio conversations.
COVID-19 Analysis :
Although rising nations’ public and private sectors were collaborating to hasten the building of LTE infrastructure, the COVID-19 epidemic had no effect on the market’s expansion. Also, because of the COVID-19 epidemic, practically all enterprises were operating from their homes or places of origin. Working from home (WFH) and the digital revolution of organizations are two factors that have proven crucial to the emergence of the private LTE.
Browse In-depth Market Research Report (196 Pages, Charts, Tables, Figures) Private LTE Market –https://www.marketresearchfuture.com/reports/private-lte-market-7957
Regional Analysis:
North America Leads the Private LTE Market
North America took the lead in the private LTE market share in 2021, benefiting from a strong 5G network presence and increased use of AI and smart connected devices. The region offers a platform for service providers to deploy cutting-edge high-speed internet technologies due to rising demand for unique network attributes, business digitization, and accessible deployment of unlicensed & shared spectrum in private LTE.
Promising Growth in APAC’s Private LTE Market
Asia-Pacific (APAC) is anticipated to experience remarkable growth in the private LTE market due to robust economic expansion and the ongoing telecom industry growth. This encourages substantial private LTE investments by businesses to enhance growth and productivity. Factors such as digital transformation, cloud adoption, technology advancements among SMEs, and telecom network upgrades like 5G contribute to APAC’s market potential.
Government Initiatives and Industry Drive Growth
Government initiatives supporting public safety solutions through smart cities programs and swift investments by domestic vendors for dedicated network infrastructure are poised to drive market growth. Major manufacturing nations like China and Japan play a crucial role, creating electronic, informational, and automotive goods.
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Expanding Private LTE in APAC:
The surge in M2M communications, widespread smartphone adoption, and increasing IoT platform use across sectors like healthcare, transportation, and manufacturing are driving private LTE expansion. Businesses seek private IoT networks to integrate devices for enhanced security and reliability. Telecom companies and government agencies are also promoting private LTE adoption in mission-critical applications.
Industry Updates :
February 2023- A three-year extension of Nokia and Kyndryl’s global edge cooperation has been announced, with a focus on industry 4.0 and the creation of private LTE & 5G technology for wireless networks.
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