private LTE market is estimated to hold the largest market share of over 40% by 2024 in North America | Key participants are Nokia, AT&T, Qualcomm, Motorola, Huawei, Ericsson, Future Technologies, ZTE, Verizon, Samsung, Casa Systems, Druid Software, Cisco

North America is estimated to hold the largest market share of over 40% by 2024 due to the rise in adoption of private LTE Market 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 increasing importance imparted to network stability & wireless communication to speed up network capability has been stimulating private LTE market share. Nowadays, private LTE is used extensively for numerous beneficial purposes such as real-time monitoring, geo positioning activities, in the mobile devices, energy utilities, telecommunication applications, and automotive equipment.

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The rapid acceptance of long-term evolution (LTE) for high-speed wireless communication across numerous industrial sectors has been encouraging companies in private LTE market to adopt LTE network connectivity.
The global private LTE market is slated to garner quite some returns in the coming years primarily driven by the humongous proliferation of connected devices that excessively demand reliable and secured communication solutions. LTE networks offer a slew of opportunities and play an important role in connecting industrial systems and broadening the avenues of customer interaction and service delivery.
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.
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.

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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.

Private LTE market colossuses including Nokia, AT&T, Qualcomm, Motorola, Huawei, Ericsson, Future Technologies, ZTE, Verizon, Samsung, Casa Systems, Druid Software, Cisco, NetNumber, Ruckus Networks, General Dynamics, Rivada Networks, SpiderCloud Wireless, Boingo, Tait, Sierra, and PDV Wireless have been actively striving to usher technological upgradations to change the face of the global networking landscape.

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