Private LTE Market Size Worth US$ 9.3 Billion Globally by 2027, at 12.90% CAGR

According to the latest report by IMARC Group, titled "Private LTE Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the global private LTE market reached a value of US$ 4.4 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 9.3 Billion by 2027, exhibiting at a CAGR of 12.90% during 2022-2027. Private long-term evolution (LTE) is a cellular network system that is generally deployed for providing individual network services in areas with weak cellular signals. It involves the utilization of subscriber identification module (SIM) cards, small cells and micro towers for enabling enhanced connectivity while reducing latency in the network. Additionally, it is also widely adopted by multiple businesses for accommodating low- and high-rate data for meeting organization needs. In comparison to wireless fidelity (Wi-Fi), it provides improved signal prioritization, technical flexibility, high-speed connectivity and security that is required for a multitude of endpoints and smarter utility applications.

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

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Global Private LTE Market Trends:

The global market is primarily driven by the increasing incidences of cybercrime and data theft activities. This has impelled multiple businesses to heavily invest in the deployment of private LTE for secured networks and connectivity. Coupled with the rising demand for high-speed internet connectivity for preventing unstable internet connection, this is creating a positive outlook for the market. Along with this, the increasing need for uninterrupted internet connection due to the widespread adoption of smartphones across geographically extended and rural areas is providing a boost to the uptake of private LTE. Furthermore, continuous technological advancements and the integration of the Internet of Things (IoT) and artificial intelligence (AI) with private LTE networks are acting as major growth-inducing factors. Additionally, the rising demand for automation across the manufacturing industry and the widespread product adoption in the healthcare industry for improved communication channels are providing an impetus to the market. Other factors, including rapid digitization and grid modernization, continual improvements in the telecommunication infrastructure and extensive research and development (R&D) activities conducted by key players, are further contributing to the market growth.

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Global Private LTE Market 2022-2027 Analysis and Segmentation:

The competitive landscape of the industry has also been examined along with the profiles of the key players being:

• Airspan Networks Inc.
• ASOCS Ltd.
• Casa Systems Inc.
• Cisco Systems Inc.
• Comba Telecom Systems Holdings Limited
• CommScope Inc.
• Druid Software Limited
• Huawei Technologies Co. Ltd.
• Nokia Corporation
• Qualcomm Incorporated
• Sierra Wireless Inc
• Telefónica S.A.

Breakup by Component:

• Infrastructure
• Service

Breakup by Technology:

• FDD
• TDD

Breakup by Frequency Band:

• Licensed
• Unlicensed
• Shared Spectrum

Breakup by Deployment Model:

• Centralized
• Distributed

Breakup by Industry Vertical:

• Healthcare
• IT and Telecom
• Manufacturing, Retail and E-commerce
• Government and Defense
• Energy and Utility
• Oil and Gas
• Education
• Others

Breakup by Region:

• North America (United States, Canada)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

Key Highlights of the Report:

• Market Performance
• Market Outlook
• Porter's Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

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