Private LTE Market Poised to Reach $10.64 Billion Globally by 2027 | Forecast Highlights

According to the report, the global private LTE market generated $3.78 billion in 2019, and is projected to generate $10.64 billion by 2027, witnessing a CAGR of 13.9 % from 2020 to 2027.

Private LTE technology, a type of long-term evolution (LTE), is akin to 5G networks. Defined by the 3rd Generation Partnership Project (3GPP), a mobile telecommunication standards organization, it operates as non-public networks utilizing shared, licensed, or unlicensed wireless spectrum. It functions similarly to 5G base stations, LTE networks, and radio access networks (RAN), transmitting data to devices like smartphones, routers, and gateways. As a 4G networking technology, private LTE delivers secure, reliable, and high-speed connectivity. Compared to public LTE, it offers faster data transfer, support for multiple devices, and reduced latency. Private LTE networks are established using micro towers, much like Wi-Fi routers, creating scaled-down versions of public cellular networks for localized use.

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Surge in demand for defined and unique network qualities, rise in need for wireless due to shifting of business toward digitization, availability of deployment of unlicensed and shared spectrum in private LTE, and infusion of cloud technology and virtualization & open network model drive the growth of the global private LTE market. On the other hand, high cost of deployment, issue arising in Interoperability, and frequency band interference restrain the market growth. On the other hand, rise in adoption of robotics and artificial intelligence in the industry and upsurge in use of industrial IoT and 5G networks present new opportunities in the coming years.

Covid-19 Scenario

1. The outbreak of the pandemic led the industry to incorporate work from home (WFH) system and digitalize their businesses, which in turn has increased the emergence of private LTE.

2. Conversely, the outbreak of the pandemic hampered the manufacturing unit thereby impacting the maintenance of private LTE stations and micro towers . This, in turn, has significantly impacted the market.

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Based on components, 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 an increase in the 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 connections 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 this 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 the 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 of 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.

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Asia-Pacific is expected to exhibit highest growth during the forecast period, owing to strong economic growth along with the ongoing development in the telecom sector, which drives organizations to invest heavily in private LTE to sustain growth and improve productivity. In addition, factors such as major shift toward digital transformation, rise in cloud deployment and technological advancement among small & medium businesses, and ongoing modernization of telecommunication networks such as 5G networks drive heavy investment in private LTE in emerging economies. Furthermore, key players in Asia-Pacific are focusing on enhancing their operations and increasing their overall efficiency to stay competitive in the market, which is expected to provide lucrative opportunities for the growth of the market during the forecast period.

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