Chicago, April 26, 2023 (GLOBE NEWSWIRE) -- The global Private LTE Market size is projected to grow from USD 5.0 billion in 2022 to USD 8.3 billion by 2027, at a Compound Annual Growth Rate (CAGR) of 10.6% during the forecast period, according to a new report by MarketsandMarkets™. Private LTE is a mobile cellular network developed and owned by enterprises to support the connectivity requirements of organizations. It resembles all the characteristics of LTE networks developed by the 3rd Generation Partnership Project (3GPP), specifically designed to work across all the mission-critical business applications to support enterprises’ digital transformation initiatives.
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497 - Tables
53 - Figures
367 - Pages
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Scope of the Report
| Report Metrics | Details |
| Market size value in 2022 | USD 5.0 billion |
| Revenue forecast for 2027 | USD 8.3 billion |
| Growth Rate | 10.6% CAGR |
| Forecast units | Value (USD Billion) |
| Key Market Drivers |
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| Key Market Opportunities |
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| Segments covered | Component, Technology, Deployment Model, Frequency Band, End User, and Region |
| Regions covered | North America, Europe, Asia Pacific, Middle East and Africa, and Latin America |
| Key Players covered | Nokia( Finland), Ericsson (Sweden), Huawei (China), ZTE(China), NEC(Japan), Aviat Networks, Samsung (South Korea) Affirmed Networks(US), Athonet (Italy), Airspan (US), ASOCS (US), Boingo Wireless (US), Casa Systems (US), Cisco (US) and many more |
The private LTE market is mainly driven by structural changes across businesses with more openness toward advancing existing infrastructure to adopt emerging technologies for sustaining business continuity and catering to new business cases. A private LTE network can be deployed in the license or unlicensed spectrum or shared frequency bands. Government organizations all over the globe can radically change the spectrum policies with the availability of unlicensed spectrum from the Industrial, Scientific, and Medical (ISM) band for businesses. Strong acceptance of private LTE deployment in the oil and gas, mining, energy, manufacturing, transportation and logistics, and government sectors can showcase the massive market potential in the future for private LTE service providers
Due to an increase in the number of end-user devices and heavy exchange of data, the need for better coverage has emerged. Private LTE technology delivers superior indoor and outdoor range as compared to Wi-Fi and provides improved interference characteristics that enable new wireless use cases. LTE can easily accommodate a large number of wireless devices and high data rate applications, such as video conferencing, HD voice, surveillance, and social media. LTE provides greater service continuity in high-bandwidth networking environments. The need for unique and defined network qualities will drive the market. Moreover, In the current business environment, with rapid advancements in technologies, there is a rise in the use of digital solutions, connected devices, and IoT systems these factors are expected to provide opportunities for the growth of the Private LTE market.
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Key and innovative vendors in the Private LTE Market include Nokia( Finland), Ericsson (Sweden), Huawei (China), ZTE(China), NEC(Japan), Aviat Networks, Samsung (South Korea) Affirmed Networks(US), Athonet (Italy), Airspan (US), ASOCS (US), Boingo Wireless (US), Casa Systems (US), Cisco (US), Comba (China), CommScope (US), Druid Software (Ireland), ExteNet Systems, Fujitsu (Japan), Lemko (US), Mavenir (US), Quortus (UK), Star Solutions (Canada), Tecore (US), Telrad Networks (Israel), Wireless Excellence (UK), Accelleran (Belgium), Altiostar (US), Amarisoft (France), Baicells Technologies (US), Celona (US), IPLOOK (Hong Kong), JMA Wireless (US), Parallel Wireless (US), Phluido (US), NetNumber (US), JI Technology (Japan), Verizon (US), Sierra Wireless (Canada), Future Technologies (US), Ambra Solutions (Canada), URSYS (Australia), Geoverse (US), Cradlepoint (US).
Frequently Asked Questions (FAQ)
What is the projected market value of the global private LTE market?
The global market of private LTE is projected to reach USD 8.3 billion.
What is the estimated growth rate (CAGR) of the global private LTE market for the next five years?
The global private LTE market is projected to grow at a Compound Annual Growth Rate (CAGR) of 10.6% from 2022 to 2027.
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