Press release
Global Private LTE Market to Reach $10.07 Billion by 2029, Growing at 14% CAGR
Private LTE Market Share
The rise in smartphone usage is anticipated to fuel the expansion of the private LTE market. A smartphone is defined as a mobile device that has internet connectivity and possesses software comparable to that of a laptop. The surge in smartphone usage boosts the demand for private LTE, since the private LTE network of a smartphone provides a personalized, secure, and effective mobile solution. For instance, Ericsson, a telecommunications firm based in Sweden, predicted in November 2022 that smartphone subscriptions would rise from 6,570 million to 8,100 million, indicating a 3% compound annual growth rate (CAGR). Hence, the escalating use of smartphones is a significant driver for the growth of the private LTE market.
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How will the growth rate of the private lte market shape industry trends by 2034?
The scale of the private LTE market has expanded significantly in the past few years. Its growth trajectory is projected to continue, climbing from $5.4 billion in 2024 to $6.03 billion in 2025, reflecting a compound annual growth rate (CAGR) of 11.5%. The expansion witnessed in the historic period can be credited to factors such as spectrum access, stages of industry adoption, government-led initiatives, integration with IoT, enterprise use scenarios, market newcomers, and innovative advancements.
In the impending years, substantial growth is set to be experienced in the private LTE market, with its value expected to achieve $10.07 billion in 2029, corresponding to a compound annual growth rate (CAGR) of 13.7%. This projected surge within the forecast period is linked to factors such as the incorporation of 5G technology, demand from different industry verticals, integration of edge computing, improved cybersecurity and cloud-based deployments. The forecast period will also see significant trends like network slicing, the rise of intelligent infrastructure, the emergence of private network as a service (NaaS), essential communication and augmented interoperability.
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What trends are poised to drive the future success of the private lte market?
Significant entities operating within the private LTE landscape are utilizing a strategic alliance methodology to amplify technology amalgamation and broaden their market influence. Such an alliance often involves a co-operative relationship among multiple organizations, pooling their resources, skills, and endeavors to reach shared aims or objectives. To illustrate, Nokia Corporation from Finland - renowned for telecommunications and consumer electronics, formed a partnership with DXC Technology, a US-based IT services firm, in June 2023. They collectively launched DXC Signal Private LTE and 5G, a managed and secure private wireless network solution tailored to bolster automation, adaptability, and data processing for industrial enterprises. This alliance unifies Nokia Digital Automation Cloud and Nokia MX Industrial Edge with DXC Platform X, providing superior monitoring, analytics, and security. The targeted sectors encompass manufacturing, energy, healthcare, logistics, transportation, and education sectors.
Which primary segments of the private lte market are driving growth and industry transformations?
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
Subsegments:
1) By Infrastructure: Base Stations, Core Network Equipment, Backhaul Solutions, User Equipment (UE)
2) By Services: Network Planning And Design, Installation And Deployment, Maintenance And Support, Consulting Services, Managed Services
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Which geographical regions are pioneering growth in the private lte market?
North America was the largest region in the private LTE market in 2024. The regions covered in the private LTE market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Who are the influential players reshaping the private lte market landscape?
Major companies operating in the private LTE market include 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, 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
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What Is Covered In The Private LTE Global Market Report?
• Market Size Forecast: Examine the private lte market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the private lte market for a structured understanding.
• Key Players Overview: Analyze major players in the private lte market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the private lte market.
• Segment Contributions: Evaluate how different segments drive overall growth in the private lte market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the private lte market.
• Industry Challenges: Identify potential risks and obstacles affecting the private lte market.
• Competitive Landscape: Review strategic developments in the private lte market, including expansions, agreements, and new product launches.
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