Global Private LTE Market Insights and Forecast to 2028

Private LTE Market Statistics 2028

The global Private LTE market size is projected to reach US$ 5454.4 million by 2028, from US$ 3081 million in 2021, at a CAGR of 8.4% during 2022-2028. Private LTE caters to specific network needs and mission-critical applications of enterprises which can help in reducing network latency. An LTE network is considered private when the main purpose is to connect people, things belonging to an enterprise. A private LTE network consists of wifi access points installed by an enterprise or a managed service provider through a local tower to supply uninterrupted connectivity from thousands of IoT devices.

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Key drivers of the private LTE market include the growing adoption of IoT-based devices which are compatible with wireless networks, increasing research and strategic collaborations by key market players, a growing number of IoT devices, and opportunities arising out of connectivity issues in the market. Further, huge benefits of private LTE networks such as low latency, reliability, security, and simplified network management are leading to faster adoption of the network among business enterprises ultimately surging the growth of the private LTE market.

Trends Influencing The Growth of Global Private LTE Market Size
Huge benefits offered by private LTE networks
Private LTE networks provide a host of benefits that can be used to address the wide industry network requirements such as low latency, greater reliability, more mobility, security, throughput, and simplified network management. The benefits have become much clearer and with an increasing number of industry-specific standards, the rate of adoption has become much faster thereby accelerating the growth of the private LTE market and will continue to surge ahead during the forecast period.

Rapid growth of wireless networks due to the increasing shift to digitalization
Due to the advent of newer technologies such as artificial intelligence, the internet of things(IoT) the need for high-speed internet increases. Also, a growing number of businesses are now shifting towards digitalization for cloud infrastructure and industrial automation increasing the demand for secure internet and wireless network for seamless data transfer that can be obtained by private LTE networks. Thus rising demand for secure wireless networks will accelerate the growth of the private LTE market during the forecast period.

CBRS & muLTEfire bands provide lucative opportunities
Business enterprises use licensed and unlicensed spectrums to provide private LTE networks around the globe. Vendors have developed infrastructure to run private LTE networks in two unlicensed frequency bands namely 5 GHz and 3.5 GHz. The 3.5 GHz is part of the Citizens Broadband Radio Service band used in the US and the 5 GHz is muLTEfire function used across the globe except for the US. The benefits of using unlicensed bands are that it allows enterprises to deploy private LTE networks quickie without any assistance from Mobile Network Operators( MNOs) who own these bands. Thus these unlicensed bands will provide huge scope for the growth of the private LTE network during the forecast period.

Wider govenment acceptance
The government sector is going to benefit hugely due to the rising usage of private LTE networks. These networks provide more security, wider coverage, and 24*7 connectivity along with ensuring timely response in emergencies leading to better actionable insights. Further, these networks can also help government authorities to enable better network connectivity for public safety ultimately pushing the demand for private LTE networks in the coming years. Thus increasing government push for new frequency bands in the unlicensed and shared spectrum will drive the growth of the private LTE market during the forecast period.

Private LTE Market Share Analysis
Based on region, North America and Europe are main markets, they occupy about 55% of the global market. North America is expected to hold the largest private LTE network market share during the forecast period due to the high penetration of 5G network, growing demand for artificial intelligence and smart connected devices, increase in need for high quality and secure wireless networks and rising shifts of businesses towards digitalization.

Based on type, at present, FDD is the main type, with a share about 85%. The FDD technology is widely adopted across various countries but the TDD technology segment is expected to provide lucrative opportunities for growth in the private LTE market share due to TDD being cost-effective where spectrum can be reallocated and repurposed.

Based on Application, Public Safety & Defense is the main application, which holds a share about 30%.

Private LTE Market By Type
FDD
TDD

Private LTE Market By Application
Public Safety and Defense
Oil & Gas
Utilities
Mining
Transportation
Others

Private LTE Market By Regions
North America
United States
Canada
Europe
Germany
France
U.K.
Italy
Russia
Nordic
Rest of Europe
Asia-Pacific
China
Japan
South Korea
Southeast Asia
India
Australia
Rest of Asia-Pacific
Latin America
Mexico
Brazil
Middle East & Africa
Turkey
Saudi Arabia
UAE
Rest of Middle East & Africa

Private LTE Market By Companies
Nokia
Ericsson
Huawei
NEC
Verizon
Cisco
Samsung
Comba
Arris International
Netnumber
General Dynamics
Mavenir
Future Technologies
Redline Communications
Anterix
Quortus
Ambra Solutions
Zinwave
Star Solutions
Druid Software
Cradlepoint, Inc.
Lemko

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