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LTE & 5G NR-based CBRS Networks Market Size
- Report ID: GMI11117
- Published Date: Aug 2024
- Report Format: PDF
LTE & 5G NR-based CBRS Networks Market Size
LTE & 5G NR-based CBRS Networks Market was valued at USD 1 billion in 2023 and is estimated to register a CAGR of over 21% between 2024 and 2032. The growing demand for private cellular networks is a key driver for the market.
As industries embrace Industry 4.0 technologies, the need for secure, high-performance connectivity has surged among them. The private cellular networks provide tailored solutions that meet specific operational needs, offering enhanced data security, reduced latency, and improved reliability for applications such as IoT-based maintenance and real-time data processing. The recent deployments highlight companies replacing traditional Wi-Fi with private 5G networks to support advanced manufacturing and logistics. These real-life examples underscore the vital role of private cellular networks in digital transformation and market expansion.
| Report Attribute | Details |
|---|---|
| Base Year: | 2023 |
| LTE & 5G NR-based CBRS Networks Market Size in 2023: | USD 1 Billion |
| Forecast Period: | 2024 – 2032 |
| Forecast Period 2024 – 2032 CAGR: | 21% |
| 2024 – 2032 Value Projection: | USD 5.7 Billion |
| Historical Data for: | 2021 – 2023 |
| No. of Pages: | 250 |
| Tables, Charts & Figures: | 341 |
| Segments covered: | Infrastructure Submarkets, Air Interface Technology, Application |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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For instance, i n March 2023, Toyota Material Handling upgraded to a private 5G network at its Columbus factory, replacing Wi-Fi. This change was driven by the need for enhanced connectivity for Industry 4.0 applications such as IoT-based predictive maintenance and fleet management. The deployment, by Ericsson and STEP, highlights the rising demand for private cellular networks to boost operational efficiency and security in industrial settings.
Furthermore, the drive for enhanced mobile network densification is crucial in expanding LTE and 5G NR-based CBRS networks. As urban areas and high-traffic zones experience growing data demands, there is a significant need to increase network capacity and coverage. This intensifies the deployment of small cells and distributed units, ensuring robust connectivity and seamless service. The focus on network densification supports higher data throughput and better user experiences in densely populated regions, fueling market growth.
Integration with existing network systems poses a significant challenge in this market. As enterprises and service providers adopt CBRS technology, they must ensure seamless compatibility with their current infrastructure, which often includes legacy systems and diverse technologies. This integration process can be complex and resource-intensive, requiring careful coordination and adaptation of both hardware and software components. The challenge is compo
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LTE & 5G NR-based CBRS Networks Market Scope
