NEW YORK, Feb. 21, 2024 /PRNewswire/ — The private LTE market size is forecast to increase by USD 3,526.19 million from 2022 to 2027, at a CAGR of 10.35%, according to the recent study by Technavio. Growing demand for secure and reliable wireless communication drives the growth of the private LTE market. Manufacturing, utilities, and transportation are among the major sectors factoring in the rising need for safe and dependable wireless communication. They heavily rely on effective and continuous communication in order to boost operational effectiveness, guarantee employee safety, and enable real-time monitoring and control systems. Furthermore, they can also reduce the hazards of interference, congestion, and slowness, which are frequently observed in shared public networks by using private LTE. Hence, owing to factors such as the rising demand for secure and reliable wireless communication drives the growth of the private LTE market during the forecast period. Charts & data tables about market and segment sizes for a historic period of five (2017-2021) years have been covered in this report. Download The Sample Report
Technavio has extensively analyzed 15 major vendors, including Airspan Networks Holdings Inc., ASOCS Ltd., Boingo Wireless Inc., Casa Systems Inc., Cisco Systems Inc., Comba Telecom Systems Holdings Ltd., CommScope Holding Co. Inc., Druid Software, Fujitsu Ltd., Hewlett Packard Enterprise Co., Huawei Technologies Co. Ltd., L3Harris Technologies Inc., Microsoft Corp., Motorola Solutions Inc., NEC Corp., Nokia Corp., Parallel Wireless Inc., Samsung Electronics Co. Ltd., Telefonaktiebolaget LM Ericsson, and ZTE Corp. Get a holistic overview by industry experts to evaluate and develop growth strategies. Download the Sample
Key Benefits for Companies in the Industry –
- The report offers information on the criticality of vendor inputs, including R&D, CAPEX, and technology.
- It also provides detailed analyses of the competitive landscape and vendors’ product offerings.
- The report also provides a qualitative and quantitative analysis of vendors to help clients understand the wider business environment as well as the strengths and weaknesses of key players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak. Expand operations in the future – To get requisite details, ask for a custom report.
Segmentation Assessment
The market is segmented by End-user (Healthcare, Retail and e-commerce, IT and telecom, and Others), Component (Infrastructure and Services), and Geography (North America, Europe, APAC, Middle East and Africa, and South America).
- The growth by the healthcare segment will be significant during the forecast period. In the healthcare industry, private LTE integration is anticipated to boost professional collaboration, provide remote patient monitoring, and accelerate the sector’s digital transformation. Furthermore, as a result of the rising demand for sophisticated healthcare services, private LTE technology provides dependable and secure communication. Hence, owing to such factors, private LTE in healthcare will have strong business growth, which, in turn, is expected to drive the growth during the forecast period future. To get detailed insights about inclusions and exclusions, buy the report
Analysis Review
The Private LTE market is witnessing remarkable growth, fueled by the integration of 5G networks and LTE networks. Leveraging the 3-generation partnership program, organizations across diverse sectors such as oil & gas, energy & utility, healthcare, retail & e-commerce, manufacturing, government and defense, and education are embracing Radio Access Networks (RAN) for enhanced data transfer. This evolution necessitates robust infrastructure and frequency band allocation, particularly in licensed spectrum. Service providers offer comprehensive solutions spanning implementation & deployment, consulting services, and managed services to address distinct infrastructure and service segment needs. Technologies like Frequency Division Duplexing further optimize network efficiency, catering to the specific demands of each industry.
The industry is witnessing remarkable growth driven by factors like unlicensed spectrum utilization and shared spectrum allocation. Porter’s five forces analysis underscores its competitive landscape, emphasizing position and vendor strategies. Interoperability remains crucial for seamless integration, facilitated by advancements in artificial intelligence and robotics. Industries benefit from Industrial IoT solutions, leveraging 5G network capabilities provided by players like AT&T. With skyrocketing mobile data traffic and increasing mobile subscribers, the demand for connected devices surges, triggering frequent new product launches and fostering partnerships. Stakeholders navigate to secure their foothold and expand share amidst ongoing digital transformation. Mobile internet subscriptions soar, highlighting the pivotal role of mobile data traffic management in this dynamic landscape.
The industry in the North Eastern Asia-Pacific region is experiencing rapid growth, driven by various operators and telecom companies. Countries in this region are embracing high-speed internet and investing in cloud infrastructure to support mobile data traffic and industrial automation. Emerging economies are adopting artificial intelligence-oriented business models to enhance competitive intensity. Private LTE offers low latency and secure data transfer, crucial for digital platforms and analysis. Businesses recognize its bargaining power in providing reliable connectivity. As industries evolve, business models centered around cloud infrastructure and industrial automation are emerging, leveraging artificial intelligence for optimal operations.
Related Reports:
The LTE IoT market size is expected to increase by USD 12,085.2 billion from 2021 to 2026, and the growth momentum will accelerate at a CAGR of 24.09%. Furthermore, this report extensively covers LTE IoT segmentation by technology (NB-IoT and LTE-M) and geography (Europe, North America, APAC, Middle East and Africa, and South America). The growth in industrial automation is notably driving the LTE IoT growth.
The fixed LTE market size is expected to increase to USD 56.26 billion from 2021 to 2026, and the growth momentum will accelerate at a CAGR of 24.26%. Furthermore, this report extensively covers fixed LTE segmentation by solution (LTE infrastructure and other solutions) and geography (North America, Europe, APAC, Middle East and Africa, and South America). The increase in public communication network operators and telecom vendors is notably driving the fixed LTE growth.
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Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging trends and provide actionable insights to help businesses identify opportunities and develop effective strategies to optimize their positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable insights to identify opportunities in existing and potential markets and assess their competitive positions within changing scenarios.
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SOURCE Technavio
