The surge in volumes for human and machine communications is projected to boost the private LTE market globally. The elevation in need for devoted high network capacity is anticipated to create a favorable set-up for the private LTE market in the approaching period.
Connectivity technologies such as Ethernet and Wi-Fi are promoting the development of the private LTE market 2020. The insights into the industry of information and communication technology are put forth by Market Research Future, which focusses on reports on industry verticals that assess the market options for growth. A 14.7% CAGR is expected to guide the growth of the market to income worth USD 5,381.9 million by 2024.
Drivers and Restraints
Advancements in mobile communication technology over the expansion of 4G networks have considerably transformed companies, enterprises, and cities across the world. This has augmented the need for dedicated high network capacity and high speed 4G mobile communications competences that are provided by the private Long-Term Evolution (LTE) networks. These networks allow the enterprises to enhance their operational competence and offer innovative network solutions; this in due course, surges the need for high quality of services (QoS) to the end user. Some of the driving factors of the expansion of private LTE networks include a surge in demand for exclusive and defined network qualities, rising deployment of private LTE networks in public safety agencies, implementation of LTE technology in smart cities applications, and advent of 5G in unification with private LTE.
On the other hand, the lack of availability of spectrum is predicted to limit the growth of the private LTE market over the review period. Using private LTE networks enable digital transformation across the enterprises, mainly in utilities, mining, oil & gas are expected to progressively pave a way for 5G mobile technologies during the forecast period.
The regional review of the private LTE market states that the North American region is responsible for the prime market share in the year 2018. The European region gained second place in the private LTE market in terms of market portion in the forecast period. Though, the Asia Pacific region is estimated to be the fastest increasing market throughout the forecast period. The North American region controlled the private LTE market in 2018 and is anticipated to lead the market throughout the forecast period. The market evolution is accredited to increasing developments by the retailers to mature high-end LTE solutions and rising government initiatives to provide the CBRS spectrum for the vendors to position networking solutions for commercial, government, and public safety agencies. The Asia Pacific region is anticipated to be the swiftest rising segment in the private LTE market throughout the forecast period. The market expansion is credited to the intensifying government projects to progress smart cities and substantial investments by the retailers.
The global private LTE market opportunities have been analyzed based on services, technology, application, spectrum band, and industry vertical.
Based on the technology, the global market for private LTE has been bifurcated into time division duplex (TDD), and frequency division duplex (FDD).
Based on the spectrum band, the private LTE market has been segmented into Licensed-Assisted Access (LAA), Licensed Shared Access (LSA), MulteFire, and Citizens Broadband Radio Service (CBRS).
Based on the services, the private LTE market has been segmented into professional services and managed services. The professional services segment is divided into support and maintenance services, consulting services, and integration and deployment services.
Based on application, the market has been segmented as real-time surveillance, operations visibility and optimization, authentication and access control, worker safety monitoring, remote diagnostics and predictive maintenance, logistics and supply chain management, and asset management and uptime assurance.
On the basis of industry vertical, the global private LTE market has been divided into mining, oil & gas, healthcare, utilities and power, industrial manufacturing, government and defense.
The major market players acknowledged in the global private LTE market as identified by MRFR are LM Ericsson (Sweden), Nokia Corporation (Finland), Huawei Technology Co. Ltd (China), Cisco Systems, Inc. (US), Verizon (US), SAMSUNG (South Korea), ARRIS International Limited (US), Qualcomm Incorporated (US), Sierra Wireless (Canada), Boingo Wireless, Inc (US), Future Technologies, LLC (US), General Dynamics Mission Systems, Inc (US), Casa Systems (US), and NetNumber Inc. (Netherlands).
Apart from these, some other market players that operate in private LTE market include Quortus Limited (UK), PDVWIRELESS (US), Ambra Solutions Inc. (Canada), LEMKO Corporation (US), Zinwave (US), Mavenir (US), Athonet SRL (Italy), and Star Solutions (Canada).