Pune, India, July 14, 2021 (GLOBE NEWSWIRE) --
The global private LTE market size is poised to witness a lucrative growth during the forecast period, attributed to the rise in demand for industrial and public network connectivity with higher speed. Private LTE network provides a reliable and safe connection and is commonly used to connect smartphones and other communication devices within an enterprise or across a defense force.
Some of the key trends that will augment private LTE network market forecast are listed below:
Smart city construction will foster demand for private LTE network in Europe:
Europe private LTE market size will become worth more than $3 billion by 2026. The concept of smart cities is catching up with the regional governments because of the rise in demand for innovative public infrastructure. These areas will use advanced and innovative technologies to build state-of-the-art amenities that will help citizens live a comfortable life. As the percentage of these cities is growing in Europe, the demand for having connected devices and sensors is increasing as well. These sensors use communication technologies like private LTE to enable smooth interaction with other smart objects.
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Handheld terminals in European enterprise use private LTE:
Private LTE network will find high use in handheld terminals across the regional industrial and corporate structure. In fact, the segment held a share of over 40% of Europe market in 2019 and is anticipated to expand further in the coming years. Handheld terminals have made communication systems quite effortless by connecting executives, supervisors and IT personnel with each other across various units in an organization. These networks have helped businesses across sectors like hospitality, utilities, mining, manufacturing and many others meet their unique requirements.
Handheld terminal devices have advanced features which cannot be found in regular smartphones. They help in increasing the productivity of any business to a great extent and reduce overall downtime in operations as well.
Scope of private LTE network in Europe energy sector:
The energy sector in the Europe market will register a tremendous CAGR of 25% through 2026. One of the major reasons for this is that private LTE networks help in bringing different grid networks together which ensures lower setup costs in wider areas, enhanced spectral efficiency and bandwidth along with providing security to customers’ data.
In October 2018, Nokia successfully provided private LTE services to Brazilian power distributor Elektro which will help the latter increase the efficiency and reliability of its grid system.
Business security prompts adoption of private LTE in North America:
North America private LTE market size is expected to exceed $5 billion by 2026. One of the major reasons for this is the rise in adoption of robust network systems to increase the security of business applications. This system helps businesses streamline their devices, machines and people across different applications to one network. Private LTE network helps in bringing security, scalability and upgradeability to important business applications.
Access sample pages of the report, “North America Private LTE Market Forecasts 2026” in detail along with the table of contents (ToC) @
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Use of private LTE network in managed services in North America:
Managed services segment in North America market will hold more than 30% share and will grow at 20% CAGR through 2026. The major reasons for this are the rising need among end-users to simplify the complex network infrastructure of enterprises and the high demand for increasing network efficiency. Many companies across the region choose to outsource activities like managing and maintaining the existing internal infrastructure. The managed service providers provide better network coverage which improves the overall business performance of the companies.
Asia Pacific market is going through technological developments:
Asia Pacific private LTE market will exceed a valuation of $2.5 billion by 2026. Companies in Asia Pacific region are implementing various strategies and are bringing out new products to make regional industry as advanced as possible. The networks are being integrated with smart and innovative technologies to increase their efficiency, speed and reliability. For instance, Huawei, in February 2020, introduced new 5G products and services and a 5G partner innovation program as well. The main aim behind all this is to make 5G technology a commercial success and build a 5G ecosystem.
Private LTE networks will be extensively adopted in the mining industry as the demand for enhancing the workers’ safety and building strong industrial applications is growing at a momentous rate. Companies in this sector are shifting their focus towards autonomous or remotely controlled machinery. These machineries have proved to be quite useful for the workers as they have reduced the number of fatalities at mining sites.
Access sample pages of the report, “Asia Pacific Private LTE Market Forecasts 2026” in detail along with the table of contents (ToC) @
https://www.graphicalresearch.com/request/1891/sample
Japan private LTE network market share witnesses considerable surge:
Japan market will grow at a substantial rate in the future, thanks to the rising need for public safety measures. This has led to the creation of the Public Safety LTE (PS-LTE). This form of network is being widely used by many public safety organizations across the country with the aim of improving the overall coordination during rescue operations in the event of a natural or man-made disaster.
Essentially, private LTE networks have gained a lot of popularity among end-users across the world, thanks to the booming demand for fast-paced and more secure internet connectivity. These systems have not only benefited the public but have also been of great use to several industries that are on the lookout to enhance their overall productivity.
About Graphical Research:
Graphical Research is a business research firm that provides industry insights, market forecast and strategic inputs through granular research reports and advisory services. We publish targeted research reports with an aim to address varied customer needs, from market penetration and entry strategies to portfolio management and strategic outlook. We understand that business requirements are unique: our syndicate reports are designed to ensure relevance for industry participants across the value chain. We also provide custom reports that are tailored to the exact needs of the customer, with dedicated analyst support across the purchase lifecycle.