Private LTE Market Size, Share, Trends, Growth, and Industry Analysis, By Component (Infrastructure and Service), Technology (Frequency Division Duplexing and Time Division Duplexing), By Deployment (Centralize and Distributed), By Industry Vertical (Healthcare, Retail & E-commerce, IT & Telecom, Manufacturing, Government and Defense, Energy and Utility, Oil and Gas, Education, and Others), Regional Insights and Forecast to 2032
global private LTE market size was USD 5.78 billion in 2022 and is predicted to reach USD 20.64 billion in 2031, exhibiting at a CAGR of 15.9% during the forecast period.
Private LTE is a network that is specially designed to serve specific enterprise, government, or educational purposes. Private LTE helps companies secure data by eliminating the connection between the core network and public mobile operators, and it can also be operated by a third-party network provider. A private LTE network enables connectivity between human and machine interactions by providing a single core network that is accessible to both. data usage with enhanced traffic flow for better information security.
Market Growth
Rising demand for secure and faster network connectivity from small and medium enterprises and an increasing number of businesses rapidly moving their operations to digital platforms are providing lucrative opportunities for market expansion in various countries. Private Long-Term Evolution (private LTE) refers to a cellular network system that provides individual network services independent of any carrier. It includes hardware, mobile core software, Subscriber Identification Module (SIM) cards, and network orchestration software that can be configured to support the specific requirements of an individual or enterprise business. For every business, industrial automation, cloud infrastructure, and others are key priorities that require a reliable and secure network, thereby driving revenue growth in the market. In addition, high-speed wireless network connectivity and the increasing demand for fifth generation (5G) are further propelling market revenue growth.
Moreover, increasing consumer awareness regarding the various benefits of utilizing private LTE is another key factor driving market revenue growth. For instance, private LTE improves network connectivity in healthcare facilities, industrial facilities, small businesses, and others. Other advantages of private LTE include low latency, high speed, improved security, consistent performance, and an expanded range. It is also more cost effective than other networks in terms of deployment. Private LTE networks can be controlled through SIM card-based credentials, and all the data is stored on a local network, offering extra protection to the company’s information. This is a key factor driving rapid growth in end-use industries. Furthermore, private LTE networks rely on the same technology as commercial networks, so companies can take advantage of technological advancements as and when they are developed, such as the latest LTE features or an upgrade to 5G technology networks.
Due to the COVID-19 pandemic, there has been an increase in the acceptance of wireless communication and digital technologies across diverse industries, including defence, healthcare, service, and manufacturing. The commercialization of the 5G network, driven by the pandemic across various countries, has positively impacted the demand for private LTE networks.
REPORT SCOPE & SEGMENTATION:
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Report Attribute |
Details |
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Projected Market Value (2031) |
20.64 billion |
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Estimated Market Value (2022) |
5.78 billion |
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Base Year |
2022 |
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Forecast Years |
2024 - 2031 |
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Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Component, Technology, Deployment, Industry Vertical and Region |
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Segments Covered |
By Technology, By Component, By Deployment, By Industry Vertical and Region |
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Forecast Units |
Value (USD Billion), and Volume (Units) |
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Quantitative Units |
Revenue in USD million/billion and CAGR from 2023 to 2031 |
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Regions Covered |
North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World |
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Countries Covered |
U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others |
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Report Coverage |
Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis. |
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Delivery Format |
Delivered as an attached PDF and Excel through email, according to the purchase option. |
Market Dynamics
Market Drivers
Rising demand for improved outdoor network coverage across a wide range of end-use industries is increasing market revenue growth. LTE is a Wireless Wide-Area Network (WWAN) technology that can operate at significantly higher distances from its base stations and outperform Wireless Fidelity (Wi-Fi). End-use businesses, such as mines, shipyards, and oil rigs, among others, necessitate the installation of a few small cells to provide broad coverage in the area. In addition, the need for high-speed Internet in these businesses is expected to drive demand for private LTE, which is also safer than public connections because it has fewer attacks and thus fewer cyberattacks to defend against. Moreover, private LTE scales to meet organizational requirements and can easily support low and high data rates, the Internet of Things, and machine-to-machine systems. Furthermore, the growing preference for and adoption of autonomous facilities, such as driverless cars, robots, and industrial process automation, is creating a high demand for a strong private network connection. However, significant investments in infrastructure development, as well as the introduction of Fifth Generation (5G), are also expected to increase market revenue growth.
Segments Covered in the Report
The private LTE market is segmented on the basis of component, technology, frequency band, industry vertical, and region. By component, it is classified into infrastructure and service. By technology, it is classified into frequency division duplexing and time division duplexing. By frequency band, it is classified into licensed, unlicensed, and shared spectrum. By industry vertical, it is divided into healthcare, retail and e-commerce, IT and telecom, manufacturing, government and defence, energy and utility, oil and gas, education, and others. By region, the market is classified across North America, Europe, Asia-Pacific, and LAMEA.
Regional Analysis
Based on regional analysis, the North American market accounted for the largest revenue share in 2022. Rising demand from the transportation and manufacturing industries is a large factor driving market growth in this region. In addition, significant investments in transforming business infrastructure and the rapid adoption of connected devices in various businesses have created large opportunities for the market to expand in various countries. Consumers and business owners alike require dependable and secure connections to run their businesses smoothly, securely, and effectively. Manufacturers, such as Hitachi and Toyota, have installed private LTE and 5G networks in this region's factories to support mobile assets, such as AGVs, as well as applications, including video surveillance, that promote productivity improvements. The U.S. market accounted for the largest revenue share due to significant investments in next-generation solutions by government, public, and private organizations. Furthermore, private LTE networks are well-known for providing future-proof, highly secure, dependable, and cellular connections to government and public safety agencies, utilities, and rail transport businesses.
The Asia-Pacific region is expected to offer new market opportunities to the vendors of LTE networks. Considering the growth of the private LTE market, Japan, Australia, and China are major countries in APAC. Japan and China are the most significant manufacturing economies that produce automobiles, ICT products, and electronic products. The market growth of private LTE in this region is due to factors such as the rise in M2M communications, increased smartphone penetration, and the penetration of IoT platforms across various industry verticals such as healthcare, transportation, and manufacturing. This is increasing the demand for private IoT networks, allowing enterprises to incorporate various devices for increased network reliability and security of network. The growth of the private LTE market is also attributed to several efforts taken by the government authorities and telecom companies for the deployment of LTE technology in mission-critical applications. For instance, in June 2018, the South Korean government committed an investment of USD 1.7 billion to set up a nationwide public safety network based on LTE technology by 2020.
Competitive Landscape
The competitive landscape of the global private LTE market is fragmented, with many major key players operating on global and regional levels. Key players are engaged in product development and strategic alliances to expand their respective product portfolios and gain a robust footing in the global private LTE market. Major players in the market include,
Segmentations
By Component
By Technology
By Deployement Model
By Frequency Band
By Industry Vertical
Regional Outlook
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