Private LTE Market Rising at 28% CAGR to 2024: Focusing on Top Key Players –Cisco, Casa Systems, AT&T, Nokia, Qualcomm, Huawei, Motorola, Ericsson, ZTE, Future Technologies, Samsung, Verizon

The global private LTE market is estimated to gain significant impetus over the coming years due to the increasing deployment of LTE networks in mining application and the growing number of smartphone users in the Asia Pacific region.

Over the past decade, LTE networks have gained significant popularity across an array of sectors. Recently, for instance, Komatsu America Corp’s autonomous haulage system qualified to run on private LTE mobile broadband technology. This represents the mining sector’s first AHS allowed to operate on private LTE in commercial operations, charting the course for ultra-high systems accessibility and reliability, while conforming to Komatsu’s safety standards. As per Komatsu, mining operators often require wireless networks which support high availability, premium-quality, seamless mobility, and the capacity to support multiple applications and services instantaneously.

Request a sample of this premium report at: https://www.marketstudyreport.com/request-a-sample/1357091/

The private LTE market in Europe is projected to grow at a CAGR of over 30% from 2018 to 2024. The market growth is driven by the huge investments in private LTE and 5G-ready networks that ensure improved connectivity and provide wider coverage. For instance, in January 2018, French mobile telephone operators planned to invest USD 3.7 billion to introduce 4G network to remove the coverage gaps by 2020. The operators including Orange, SFR, Bouygues Telecom and Iliad?s Free Mobile have planned to install 5,000 masts and antennas and ensure network coverage along 30,000km of rail tracks. Various efforts made towards the testing of 5G-ready networks will contribute towards the growth of the private LTE networks. These networks meet the needs of enterprises with specific requirements with respect to coverage, security and low latency. For instance, in February 2018, Germany?s Social Democrats and conservatives signed a coalition agreement to allocate approx. USD 9.67 billion to build gigabit-speed fixed-line data networks over the next four years. The parties aim to construct the 5G networks to enhance coverage, including auctioning licenses on regional basis.

Private LTE market is gaining momentum with the increase in deployments for various use cases such as enterprise IIoT applications, defense, transportation, energy and mining. A dedicated network enables organizations to control their own networking environment, customize it as per their requirements and ensures more coverage. For instance, in the critical communications industry, LTE has emerged as one of the most widely adopted networks. The network enables the use of various applications such as live streaming during emergency situations or directing mission-critical assets. The agencies are rapidly embracing dedicated networks to ensure a coordinated response, offer actionable data insights and to enhance situational awareness. Private LTE is also gaining popularity in mission-critical airport communications to enable operators to have a secure control over a smart airport network.

Another factor accelerating the private LTE market growth is the tremendous increase in the number of connected devices and sensors that utilize the dedicated networks to meet the communication and networking requirements of the smart city applications. The applications including, smart transportation, smart lighting, waste management, and smart roads are expected to drive the demand for next-generation networks such as LTE-A and 5G to support the networking requirements in terms of reliability, interoperability and security.

Request a discount on standard prices of this premium report at: https://www.marketstudyreport.com/check-for-discount/1357091/

The EPC segment held a majority share accounting for nearly 40% in the private LTE market in 2017. Growing adoption of private LTE among organizations increases the demand for EPC to address the CAPEX concerns while establishing dedicated networks. The EPC solution helps to speed up real-time information uploads and transfers with covered voice and data communications suitable for small and medium-sized networks. As networks are becoming more complex with the introduction of next-generation wireless technologies, the demand for EPC solution to manage the network payload will increase. As per the infrastructure type, the eNodeB market is expected to witness the highest growth rate of over 28% from 2018 to 2024. eNodeB installations are estimated to register a growth rate of around 50% over the forecast timeline amounting to over 329,000 units by 2024. The market growth is driven by their ability to maximize the use of bandwidth of LTE networks to enable high-speed connections.

Vehicular routers in the private LTE market are projected to grow at a CAGR of over 32% over the forecast timeline. The market growth is driven by their ability to provide fast and reliable wireless connectivity for deployments where wired options are too expensive. These routers enable seamless connectivity and are crucial for enabling various applications such as fleet management, video surveillance and monitoring of connected mobile assets.

North America is estimated to hold the largest market share of over 40% by 2024 due to the rise in adoption of private LTE to support the need for low latency networks for mission-critical communications and industrial IoT applications. For instance, in June 2017, Bell, a Canadian communications company launched LTE-M technology to offer the rapidly increasing use of IoT devices on wide area networks in Canada. The LTE-M technology improves the efficiency of IoT devices and provides better coverage in underground and hard to reach locations.

The telecom operators are expanding their footprint in the LTE technology by providing organizations with access to their licensed spectrum so that they can deploy their dedicated LTE networks. For instance, in March 2018, the National Institute of Standards and Technology (NIST) supported the Federal Communications Commission?s plan to facilitate the sharing of a 150 MHz radio frequency spectrum band between the U.S. military and private sector users. The additional spectrum facilitates reliable connections for new communication technologies such as 5G. The government authorities are allocating frequency resources so that enterprises can deploy the next-generation networks. For instance, in September 2018, the German government announced its plan of allocating 100MHz of spectrum for large industries, enabling them to create their own networks and bypass licensed mobile operators. The spectrum will be allocated at the time of Germany?s 5G spectrum auction in 2019. Such initiatives are expected to accelerate the evolution of private LTE networks during the forecast timeline.

Table of Content:

Chapter 1. Private LTE Market Methodology and Scope

Chapter 2. Private LTE Market Executive Summary

Chapter 3. Private LTE Industry Insights

Chapter 4. Competitive Landscape, 2017

Chapter 5. Private LTE Market, By Component

Chapter 6. Private LTE Market, By Application

Chapter 7. Private LTE Market, By Region

Chapter 8. Private LTE Market Company Profiles

Outer scope of this report thus, the growing incorporation of wireless technology in the mining sector to improve capacity, security, and overall performance of mining operations will surge the demand for LTE networks in the coming years.
Private LTE market is estimated to witness significant growth from smartphone sales in the ensuing years. This growth is attributable to the increased penetration of smartphone and internet in the developing nations. For example, many smartphone companies are eyeing India for expansion as the regional populace is slowly but steadily entering the online sphere. The smartphone penetration rate in India is expected to rise with 442 million users by the end of 2022. This will certainly drive the demand for LTE-enabled smartphones as they’re known to enhance network experience, thereby helping the private LTE market attain commendable growth over the years ahead.

For more information on this report at: https://www.marketstudyreport.com/reports/private-lte-market/?utm_source=Openpr.com-SP
Related Report:

Global Private LTE Network Market Size, Status and Forecast 2019-2025

In 2018, the global Private LTE Network market size was million US$ and it is expected to reach million US$ by the end of 2025, with a CAGR of during 2019-2025.

https://www.marketstudyreport.com/reports/global-private-lte-network-market-size-status-and-forecast-2019-2025?utm_source=RR-SP

About Us:
Marketstudyreport.com allows you to manage and control all corporate research purchases to consolidate billing and vendor management. You can eliminate duplicate purchases and customize your content and license management.

Contact Us:
Market Study Report LLC
4 North Main Street,
Selbyville, Delaware 19975
USA
Phone: 1-302-273-0910
US Toll Free: 1-866-764-2150
Email:sales@marketstudyreport.com
Website:https://www.marketstudyreport.com
Blog: https://www.marketstudyreport.com/blog/

This release was published on openPR.