Private LTE Market in Mining Sector is Projected to Grow at A CAGR of 33% by 2024 | Key Players are AT&T, Cisco, Ericsson, General Dynamics Mission Systems, Huawei Technologies, Motorola Solutions, Nokia, Ruckus Networks, Sierra Wireless

The mining sector is estimated to register an impressive CAGR of over 33% in the private LTE market between 2018 and 2024. The technology helps the industry in automating key mining functions to gain operational efficiencies. These networks offer the low latency needed to operate the autonomous systems such as drills and drones in harsh, remote environments.

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.

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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.

Key Companies Operated in Global Private LTE Market: -
1. AT&T
2. Boingo Wireless
3. Casa Systems, Inc.
4. Cisco
5. Druid Software
6. Ericsson
7. Future Technologies Inc.
8. General Dynamics Mission Systems
9. Huawei Technologies
10. Motorola Solutions
11. NetNumber
12. Nokia
13. pdvWireless
14. Qualcomm Incorporated
15. Rivada Networks
16. Ruckus Networks
17. Sierra Wireless
18. SpiderCloud Wireless, Inc
19. Tait Communications

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.

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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 private LTE 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.

Substantive use of LTE connectivity for ensuring digital and standardized work output in the industrial as well as the defense sectors is likely to propel the product demand over the years ahead. On-going changes in the telecommunication technologies to enhance the network connectivity will further stimulate the private LTE market trends. As per estimates, with the surging acceptance for network connectivity across various application sectors, private LTE market is poised to surpass a revenue collection of USD 11 billion by the end of 2024.

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