No products in the cart.
Private LTE Market - By Component (Product, Service) By Application (Public Safety, Defense, Mining, Transport, Energy, Manufacturing) & Forecast, 2022-2028
Report ID: GMI2757
|
Published Date: October 2018
|
Report Format: PDF
Download free sample
Get a free sample of Private LTE Market
Get a free sample of Private LTE Market
Is your requirement urgent? Please give us your business email for a speedy delivery!
Buy Now
Immediate Delivery
$4,123 $4,850
15% off
$4,280 $5,350
20% off
$5,845 $8,350
30% off
Buy now
Premium Report Details
Base Year: 2021
Companies covered: 25
Tables & Figures: 618
Countries covered: 25
Pages: 330
Download Free Sample
Private LTE Market Size
Private LTE Market size exceeded USD 4 billion in 2021 and is projected to expand at over 20% CAGR from 2022 to 2028. Increasing adoption of private LTE networks to efficiently manage autonomous systems remotely will positively influence the market growth.
Private LTE networks offer low latency to operate autonomous systems, such as drills and drones, in harsh or remote environments. The private LTE technology is witnessing widespread usage in the mining sector as it helps the industry in automating key mining functions to gain operational efficiencies. A private LTE network leverages advanced radio access technologies to maximize the coverage and capacity to reach remote systems, vehicles, and field personnel.
Due to the COVID-19 pandemic, there has been an increase in the acceptance of wireless communication and digital technologies across diverse industries including defense and manufacturing. The commercialization of the 5G network driven by the pandemic across various countries has positively impacted the demand for private LTE solutions.
Private LTE Market Analysis
In Canada, EPC solution in the private LTE market held 40% of revenue share in 2021 owing to its increasing adoption by organizations to address the increasing CAPEX. EPC dominates the market as it offers a unique integrated approach for delivering voice & data services and operates as a standalone system in large network deployments. EPC consists of a Serving Gateway, a PDN Gateway, a Mobile Management Entity (MME), and Home Subscriber Server (HSS), thus providing an architecture that can handle the data traffic efficiently. As mobile networks are becoming more complex with the introduction of LTE networks and multiple radio access technologies, the demand for EPC solutions to manage the network payload will increase during the forecast period.
In the UK, the vehicular routers segment is predicted to observe a 20% growth rate till 2028. The adoption of vehicular routers for mission-critical applications along with the requirement for robust connectivity coverage has increased significantly in the past couple of years. The acceptance of vehicular routers assists in providing high-speed data with control, security, & improved performance required in the transportation department, utility trucks, metro buses, and schools with bus fleets.
In China, integration & maintenance segment accounted 45% of the private LTE market share in 2021 due to the need to integrate private LTE networks for diverse industrial applications. Enhanced requirements for the integration of private LTE networks into public safety departments will also propel the industry growth. Furthermore, government initiatives for smart cities worldwide have resulted in increased connectivity requirements, accelerating the industry expansion for integration and maintenance services.
In India, the energy application segment is estimated to attain a CAGR of over 35% through 2028 impelled by the various smart city development initiatives and the deployment of advanced metering infrastructures across the globe. The usage of private LTE solutions assists in connecting distributed grid assets to ensure low costs over wide areas, enhance the bandwidth & spectral efficiency, and ensure that the grid & consumer data are always secure. New consumption patterns and the evolving trend of electric vehicles also contribute to the industry demand as these systems require a robust, highly secured, & reliable communication network.
North America private LTE market is anticipated to reach USD 7 billion by 2028 on account of the growing deployments of LTE networks in the defense sector. The rising demand for smart connected systems across various industry verticals, such as manufacturing, transportation, and urban planning, is expected to surge the demand for private LTE networks in the region. The public and private investments in the rapid commercialization of 5G network services are escalating the acceptance of diverse wireless networking technologies including private LTE networks.
Private LTE Market Share
Some of the key participants operating in the market are:
These companies are developing private LTE networks by partnering with other industry leaders in the ecosystem. These firms are deploying LTE solutions on their campuses to test the compatibility of various devices, ranging from smartphones to IoT. Such initiatives help companies to learn about the loopholes and drawbacks of the technology.
The private LTE market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2018 to 2028 for the following segments:
Click here to Buy Section of this Report
Market, By Component
Market, By Application
The above information has been provided for the following regions and countries: