Private LTE Global Market Size to Reach $8.81 Billion at a CAGR of 12.4% By 2028, Key Factors behind Market's Exponential Growth

"The new report published by The Business Research Company, titled ""Private LTE Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033"", delivers an in-depth analysis of the leading size and forecasts, investment opportunities, winning strategies, market drivers and trends, competitive landscape, and evolving market trends.

As per the report, the private lte market size has grown rapidly in recent years. It will grow from $4.9 billion in 2023 to $5.52 billion in 2024 at a compound annual growth rate (CAGR) of 12.7%. The private lte market size is expected to see rapid growth in the next few years. It will grow to $8.81 billion in 2028 at a compound annual growth rate (CAGR) of 12.4%.

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Rapid Smartphone Adoption Fuels Growth In The Private Lte Market
The increasing adoption of smartphones is expected to propel the growth of the private LTE market going forward. A smartphone refers to a mobile phone that connects to the internet and features software like that on a laptop. Increase in the adoption of smartphones increases the use of private LTE as a smartphone's private LTE network allows an individualized, secure, and high-performance mobile solution. For instance, according to the Pew Research Center, a US-based nonpartisan fact tank that informs the public about the issues, attitudes and trends shaping the world, the percentage of Americans who own a smartphone climbed from 85% in February 2021 to 96% in February 2023, which was just 35% a decade. Therefore, an increase in the adoption of smartphones is driving the growth of the private LTE market.

Private Lte Market Evolution Fueled By Technological Advancements
Technological advancements are a key trend gaining popularity in the private LTE market. Major companies operating in the private LTE market are developing technologically advanced solutions to sustain their position in the market. For instance, in August 2021, Nippon Telegraph and Telephone Corporation, commonly known as NTT, a Japan-based technology and business solutions provider, launched NTT's Private 5G platform (P5G), the first globally available private LTE/5G network-as-a-service platform. The platform's pre-integrated partnerships with top network and software providers enable businesses to dynamically secure, scale and segment their networks. NTT P5G's unique feature enables mission-critical apps to take advantage of the benefits of private 5G with its patent-pending MicroSlicing technology.

The private lte market covered in this report is segmented -
1) By Component: Infrastructure, Services
2) By Technology: Frequency-Division Duplexing, Time Division Duplexing
3) By Deployment Model: Centralized, Distributed
4) By Applications: Public Safety, logistics And Supply Chain, Asset Management
5) By End User: Utilities, Mining, Oil And Gas, Manufacturing, Transportation And Logistics, Government And Public Safety, Healthcare, Other End Users

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Major companies operating in the private lte market report are Nokia Corporation, Telefonaktiebolaget LM Ericsson, Huawei Technologies Co. Ltd., ZTE Corporation, Cisco Corporation, Verizon Communications Inc., Qualcomm Technologies Inc., Ruckus Networks Inc., Future Technologies Pvt. Ltd., Comba Telecom Systems Holdings Ltd., CommScope Inc., Samsung Group, Sierra Wireless Inc., Quortus Limited, Star Solutions Inc., Tecore Networks, Telrad Networks, Wireless Excellence, Ericsson AB, NEC Corporation, Aviat Networks Inc., Affirmed Networks Inc., Athonet SpA, Airspan Networks Inc., ASOCS Inc., Boingo Wireless Inc., Druid Software Limited, ExteNet Systems Inc., Fujitsu Limited, Lemko Corporation .

Contents of the report:
1. Executive Summary
2. Private LTE Market Report Structure
3. Private LTE Market Trends And Strategies
4. Private LTE Market - Macro Economic Scenario
5. Private LTE Market Size And Growth
…..
27. Private LTE Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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