Private LTE Market size is projected to reach at $10.64 billion by 2027

According to a recent report published by Report Ocean, titled, “Private LTE Market by Component, Technology, Deployment Mode, Frequency Band, Industry Vertical, and Region: Opportunity Analysis and Industry Forecast, 2020-2027.

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The global private LTE market size was valued at $3.78 billion in 2019, and is projected to reach at $10.64 billion by 2027, growing at a CAGR of 13.9% from 2020 to 2027. Surge in adoption of new cutting-edge technologies in various organizations and rise in need to create new mile stone in communication sector drive the growth of the market. In addition, increase in demand for long term evolution (LTE) among enterprises fuels the growth of the market. Furthermore, increase in need of interactive, efficient and cost-effective communication and data service along with emerging technology such as long-term evolution are expected to provide remunerative opportunities for the expansion of the market during the forecast period.

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On the basis of component, the infrastructure segment dominated the overall private LTE market share in 2019, and is expected to continue this trend during the forecast period. This is attributed to increase in adoption of private LTE among enterprises to gain strategic as well as competitive advantage over their competitors. In addition, it helps end users to make quickly & hassle-free data connection and internet calls and online streaming, which drives the growth of the market. However, the service segment is expected to witness highest growth, as these private LTE technologies ensure effective coordination between service provider company and customer by providing implementation and deployment, consulting services and managed services. The adoption of these technology speeds up new business implementation, maximizes the value of existing mobile and wearable resources by optimizing it, and minimizes the data cost, which further fuel the private LTE market growth.

Depending on technology mode, the frequency division duplexing (FDD) segment dominated the private LTE market share in 2019, and is expected to continue this trend during the private LTE market forecast period. The growth of the segment is attributed to numerous benefits provided by this technology type such as high quality of connectivity, which results in lower costs if there is addition of new resources, high security, and others. However, the time division duplexing segment is expected to witness highest growth in the upcoming years. Furthermore, the adoption unlicensed infrastructure for deployment is considerably high among small & medium enterprises due to its cost-effectiveness, which notably contributes toward the growth of the global market.

Post COVID-19, the global private LTE market is estimated to grow from $4.29 billion in 2020, and reach $10.64 billion by 2027, at a CAGR of 13.9%. The COVID-19 outbreak has low impact on the growth of the global private LTE market, owing to the fact that the government and private sectors in emerging countries are working together to speed up the development of LTE infrastructure in the wake of the pandemic.

Moreover, due to the outbreak of COVID-19 pandemic, almost all businesses are working from home or native place. Factors, such as working from home (WFH) and digital transformation of businesses, have become key components in the emergence private LTE. However, during the lockdown, the maintenance of private LTE stations and micro towers get hampered due to temporarily closing of manufacturing unit of auxiliary equipment of micro towers significantly. Furthermore, in post-lockdown scenario, private LTE is expected to decline as the demand grows for high-speed private internet, this will grow the market of private LTE globally.

Key Findings Of The Study

By component, in 2019, the infrastructure segment dominated the private LTE market size. However, the service segment is expected to exhibit significant growth during the forecast period.
On the basis of technology, frequency division duplexing segment accounted for the highest revenue of private LTE market in 2019; however, the time division duplexing segment is expected to witness the highest growth rate over the forecast period.
Region-wise, the private LTE market was dominated by North America. However, Asia-Pacific is expected to witness significant growth in the coming years.
The key private LTE industry players profiled in the report are AT&T, Verizon Communications Inc, Deutsche Telekom, Vodafone Group, Telefonica, Nokia, Ericsson, Huawei technologies Co. LTD, ZTE Corporation, Cisco Corporation. This study includes market trends, Private LTE market analysis, and future estimations to determine the imminent investment pockets.

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This release was published on openPR.