Report : Private LTE Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Component (Solution and Services), Type (FDD and TDD), End-user (Manufacturing, Energy & Utilities, Healthcare, Transportation, Mining, and Others)
In 2018, North America was estimated to hold the largest market share, and Asia-Pacific is expected to be the fastest-growing region with a CAGR of 15.6%.
According to the new research report published by The Insight Partners, titled “Private LTE Market - Global Analysis and Forecast to 2027”, the global private LTE market is expected to reach US$ 7.5 Bn in 2027, registering a CAGR of 12.7% during the forecast period 2019-2027.
Private LTE networks offer a variety of features, such as high speed, high capacity, high safety, low latency, consistent performance, more comprehensive range, and interoperability, complimenting the demand for IIoT. A private LTE network allows low network site latency and direct access to network devices, such as sensors, gateways, smartphones, and even autonomous vehicles, for Services. Through linking all of these systems over a single network, companies can handle their activities and connectivity more effectively. In addition, increasing the global adoption of smartphones is expected to push market expansion in a positive direction over the forecast period. Furthermore, the government initiatives to provide improved public safety are also projected to fuel global demand for private LTE networks. Problems, however, such as the complexity of implementing a private LTE network might hamper the growth of the private LTE market during the forecast period.
The increasing adoption of Industry 4.0, industrial IoT, and automated technology are significantly fuelling the demand for the private LTE market. The continuous advancements in connectivity are the key parameter positively influencing the market. Increasing connected devices in the manufacturing sector are generating a huge amount of data, and these data need to be analyzed effectively for smooth business operations. The increasing investments in machine-to-machine (M2M) and traditional IoT have enabled a significant increase in the economies of scale that drive the adoption of private LTE across the sector.
Key findings of the study:
North America held the largest market in 2018 in the private LTE market. US led the private LTE market in the North America region. The four key trends which are positively impacting the 5G deployment across North American region are operator investment in the LTE and fiber network upgrades, digital engagement of the US consumer, favorable economy, leading R&D investments, favorable business environment, and large scale telecommunication, media, and mobile convergence in the region. In the US, the transformation of mobile customers from connected to digital has been one of the fastest across the globe.
The global private LTE market is segmented based on component i.e., solutions and services. Vendors offer various services such as professional services and managed services. The global private LTE market by component was led by the services segment. Private LTE vendors provide various services to their clients to provide the end-to-end implementation of private LTE. These solutions help clients follow certain aspects, namely faster deployment, reduction in cost, network consultation, site survey, engineering design services, project management, equipment procurement, field deployment services, network integration, and others.
The private LTE market is segmented on type, i.e., FDD and TDD. The global private LTE market by type was led by the FDD segment in the year 2018. FDD i.e., frequency division duplex, uses a paired spectrum that comes from a migration path of the 3G network. It requires two separate communication channels. FDD uses lots of frequency spectrum. It requires two symmetrical segments of the spectrum for the downlink and uplink channels. FDD has wide adoption in the cellular telephone system and is widely used in the GSM system.
Contact Person: Sameer Joshi
Email Id: email@example.com