Overview
Private LTE networks
enable communication between humans and machines through portable radios and
internet-of-things (IoT) devices. The allure of high connectivity speeds for
large enterprises within IT parks as well as securing data can lead to firms investing
in their own network by procuring mobile network infrastructure. The global
private LTE market report by Market Research Future (MRFR) considers the pros
and cons of the setup, its scope, and projections for future devices for the
period of 2019 to 2024 (forecast period). The COVID-19 outbreak and its impact
on the industry have been taken into consideration.
Market
Scope
The
global Private
LTE Market is expected to register a CAGR of 14.7% during the forecast
period to reach USD 5,381.9 million by 2024. It was valued at USD 2,449.4
million in 2018. The deployment of private LTE over Wi-Fi for controlling
network latency and data speed can drive the market demand exponentially. Its
application in distributed enterprises and rural regions with poor cellular
coverage owing to the rollout of 4G and 5G communication network technologies
can give the market weight. This is evident with the expansion of 4G networks
in developing and developed countries. Its ability to prevent transfer of data,
handling network traffic, and assurance of low latency for astute operations in
IoT-enabled environments can fuel the market growth. But the lack of
spectrum bands can pose a challenge to the market.
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Segmentation
The
global private LTE market has been segmented based on technology, services,
spectrum band, application, and industry vertical.
Based
on the technology, the global private LTE market has been divided into time
division duplex (TDD), and frequency division duplex (FDD).
Depending
on the spectrum band, the private LTE market has been segmented into citizens
broadband radio service (CBRS), Licensed Shared Access (LSA), Licensed-Assisted
Access (LAA), and MulteFire.
By
services, the private LTE market has been categorized as professional services
and managed services. The professional services segment has further been
divided into consulting services, support and maintenance services, and
integration and deployment services.
Based
on application, the market has been segmented into authentication and access
control, logistics and supply chain management, remote diagnostics and
predictive maintenance, real-time surveillance, operations visibility and
optimization, worker safety monitoring, and asset management and uptime
assurance.
On
the basis of industry vertical, the global private LTE market caters to
government and defense, mining, oil & gas, utilities and power, industrial
manufacturing, and healthcare.
Regional
Analysis
Geographically,
the global private LTE market covers regions of North America, Europe, Asia
Pacific (APAC), the Middle East and Africa (MEA), and South America.
North
America accounted for the largest market share in 2018 with Europe following.
However, APAC is expected to be the fastest growing market during the forecast
period.
North
America dominated the global private LTE market in 2018 and expects to dominate
the market during the forecast period. The market growth is attributed to
rising developments by the vendors to develop high-end LTE solutions and
increasing government initiatives to provide CBRS spectrum for vendors to
deploy networking solutions for governments, commercial, and public safety
agencies. Recently, the FCC gave approval for deployment of 5G networks on CBRS
spectrums without the need for licenses paving the way for the market to expand
uninhibited.
APAC
is expected to be the fastest growing segment in the private LTE market during
the assessment period. The market growth is attributed to the rising government
initiatives for development of smart cities and heavy investments by vendors
such as China Telecom, China Mobile, and NTT Docomo.
Competitive
Outlook
Cisco
Systems, Inc., Future Technologies, LLC, General Dynamics Mission Systems, Inc,
NetNumber Inc., Casa Systems, Verizon, Nokia Corporation, SAMSUNG, Qualcomm
Incorporated, Huawei Technology Co. Ltd, Sierra Wireless, ARRIS International
Limited, Boingo Wireless, Inc, and LM Ericsson are prominent players of the
global private LTE market. Alliances are the prime strategy being used by
players to expand their services and gain a large customer base. This is
evident with the formation of MulteFire and CBRS alliances in Europe and U.S.
respectively.
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Private LTE Market Research Report:
Information by Technology (Hall Effect, Magneto Resistive, Variable
Reluctance), By Application (Automotive, Industrial, Aerospace & Defense,
Consumer Electronics) and Region (North America, Europe, Asia-Pacific, Middle
East & Africa, and South America)—Forecast till 2030
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