Report : Private LTE Market to 2027 - Global Analysis and Forecasts by Component (Solution and Services); Type (FDD, and TDD); End- user (Manufacturing, Energy & Utilities, Healthcare, Transportation, Mining, and Others)
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 network is a private network designed to connect and secure individuals/things of that company effectively. 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
Based on component, the global private LTE market has been segmented into solution and services. On the basis of type, the global private LTE market has been bifurcated into FDD and TDD. Based on end-user, the market has been segmented into manufacturing, energy & utilities, healthcare, transportation, mining, and others. North America is expected to dominate the global private LTE market during the forecast period owing to increasing adoption of LTE networks in the region and growing need to support low latency networks for mission-critical communications and industrial IoT Services. The private LTE market in Europe is expected to propel during the forecast period due to the majority of public safety agencies in countries such as Norway, Poland, and Finland rely on TETRA networks for emergency service communications, which, in turn, require integration with advanced wireless solutions, such as broadband and LTE, to improve network capabilities. APAC is expected to offer new market opportunities for vendors of private LTE network. Taking into account the growth of the private LTE market in APAC, Japan, China, and Australia are among the vital countries. China and Japan are the most significant manufacturing economies producing automobiles, IT products, and electronic products. The market growth of private LTE in this region is due to factors such as the rise in M2M communications, increase in smartphone penetration, which is supported by the penetration of IoT platforms across various industries such as healthcare, transportation, and manufacturing.
Major players in the private LTE market are Cisco Systems, Inc., ERICSSON, Huawei Technologies Co., Ltd., Samsung, VERIZON COMMUNICATIONS, INC., CommScope Inc., Future Technologies, Inc., NetNumber, Inc., and Star Solutions, Sierra Wireless, Inc. The market players pursue many approaches for business expansion, such as strategic partnerships & agreements, new product innovations, and mergers & acquisitions. Industry-operating companies are developing their own private LTE network through partnerships with other ecosystem players. Many companies are introducing technologies to test the reliability of various devices, from smartphones to IoT, on their campuses.
Private LTE Market - Geographic Breakdown, 2018
The report segments the global private LTE market as follows:
Global Private LTE Market - By Component
Global Private LTE Market - By Type
Global Private LTE Market - By End-User
Global Private LTE Market - By Geography