Private LTE Network Market worth over $19bn by 2028

Private LTE Network Market size is set to surpass USD 19 billion by 2028, according to a new research report by Global Market Insights Inc.
 

The market growth is attributed to the increasing acceptance of LTE technology for smart cities applications. The growing need to accelerate digitalization across various industry verticals has increased the adoption of LTE technology. Connectivity plays a crucial role in enabling interconnection among heterogeneous smart city objects and sharing data effectively among various designers, planners & government agencies who are involved in the planning and development of smart cities. To support smart cities initiatives, global companies are offering their technological solutions to meet the growing network demands.
 

Major private LTE players are focusing on developing advanced and integrated private LTE solutions. For instance, in November 2021, AWS launched AWS Private 5G. It is a managed service that helps business enterprises to enhance private 5G mobile networks in their facilities. It automates the implementation of the network and manages increased network traffic.
 

Rising need to manage radio communication is fueling the market progression

The eNodeB segment in the private LTE network market is poised to register a 20% growth rate through 2028 owing to the increasing deployment of distributed antenna systems in shopping malls, stadiums, and outdoor arenas to support the demand for high bandwidth, thus enabling mobile operators to embrace eNodeB LTE small cell base stations. LTE eNodeB maximizes the use of ultra-wide bandwidth of LTE networks to enable high-speed connections that provide end-users with mobile data services such as video-on-demand and high-simulation video conferencing.
 

Browse key industry insights spread across 330 pages with 581 market data tables and 37 figures & charts from the report, “Private LTE Network Market Size, By Component (Product [ Infrastructure {Evolved Packet Core (EPC), Backhaul, eNodeB}, Device {Smartphones, Handheld Terminals, Vehicular Routers, IoT Modules}], Service [Training & Consulting, Integration & Maintenance, Managed Service]) By Application (Public Safety, Defense, Mining, Transport, Energy, Manufacturing) COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2022 – 2028”, in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/private-lte-market
 

Changing consumer preference to adopt connected devices is supporting the market expansion

The handheld terminals segment accounted 35% of the private LTE network market share in 2021 impelled by the growing usage of connected devices across various industrial sectors including hospitality, mining, utilities, manufacturing, and related enterprise environments. These devices also provide enhanced benefits by reducing downtime and maximizing business productivity. It allows supervisors to instantly alert field personnel, thereby resolving problems easily and maintaining the work schedule.
 

Increasing demand for value-added and customized services will drive the market revenue

The managed service segment is predicted to attain a CAGR of over 25% till 2028. The rising complexity in the enterprise network infrastructure is enabling enterprises to adopt external expertise to maintain their network infrastructure. Managed service providers increase consumers’ expectations by augmenting network coverage and improving business performance. Companies operating in the market are forming strategic partnerships to expand their managed private LTE services.
 

Growing adoption of advanced technology-based solutions across various industry verticals is boosting the market demand

The private LTE network market for public safety segment held 35% of revenue share in 2020 as it enables the use of various applications such as mapping software for locating mission-critical assets or live streaming during emergency conditions. To effectively respond to the challenges including terror events, natural disasters, and threats to critical infrastructure, these organizations must rely on secure networks with integrated voice & data capabilities. These networks enable them to obtain more accurate information, enhancing situational awareness and improving response times. To effectively respond to emergency situations, the public safety agencies as well as the Emergency Service Provider Organizations (ESPOs) are deploying private LTE networks to delivers secure mission-critical voice, video, and data.
 

Rising investments in the telecom sector will foster the industry growth across APAC region

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Asia Pacific private LTE network market is anticipated to reach USD 4 billion by 2028 on account of the acceptance of IoT platforms across various verticals including transportation, retail, and manufacturing. The penetration of IoT into various industrial applications including manufacturing, retail, and healthcare is expected to spur the usage of private networks.  APAC is a highly lucrative market for the adoption of IoT technologies due to numerous government initiatives for large-scale digitalization of urban infrastructures in countries including China, South Korea, and India. Telecom operators in these countries are introducing next-generation IoT cellular networks to support a network of interconnected devices, thus creating ample growth opportunities for the market.
 

Leading market players are focusing on developing advanced private LTE solutions to gain a competitive advantage

Major participants operating in the private LTE network market are Affirmed Networks, AT&T, Inc., Boingo, Casa Systems, Inc., Cisco Systems, Inc., Druid Software, Telefonaktiebolaget LM Ericsson, Future Technologies Inc., General Dynamics Mission Systems, Huawei Technologies Co., Ltd., Mavenir Systems, Inc., Motorola Solutions, NEC Corporation, NetNumber, Inc., Nokia Corporation, PDV Wireless, Qualcomm Incorporated, Rivada Networks, Ruckus Networks, SAMSUNG ELECTRONICS CO., LTD., Sierra Wireless, SpiderCloud Wireless, Tait Communications, Verizon Enterprises and  ZTE Corporation. Companies are developing advanced private LTE solutions to meet customer demands.