Dublin, Nov. 12, 2021 (GLOBE NEWSWIRE) -- The "Global Private LTE Market (2021-2026)" report has been added to ResearchAndMarkets.com's offering.
Global Private LTE Market is estimated to be USD 4.79 Bn in 2021 and is expected to reach USD 9.2 Bn by 2026, growing at a CAGR of 14%.
Public LTE Networks as well as Wi-Fi networks, have become a daily necessity in modern-day living and are heavily consumed by enterprises and other subscribers at large. However, at times, a network can face certain issues arising from coverage limitations, capacity issues, or security threats. In these cases, enterprises seek a private LTE network that can connect devices within specified parameters like an enterprise campus to ensure data integrity and avoid the risks pertaining to data transfers via a mobile operator.
Private LTE caters to customized network demands and mission-critical applications, which can help in reducing the latency in a network. They consist of Wi-Fi access points installed by an enterprise or a managed service provider through a local cellular tower to supply uninterrupted connectivity from thousands of IoT devices.
The importance of a Private LTE is not just due to its revenue generation opportunity but also due to its recent technology, which also has an additional value. They can be adopted across industry-wide applications that have technology at its prime too. The companies operating in the market for private LTE technology are focusing on strategic collaborations with the private companies to enhance their market presence and their market capabilities, which is an indicative opportunity for positive market growth.
The heavy investments made by the respective Government and the global telecom operators to ensure that the networks are capable of providing LTE-A and 5G services with low latency shall fuel the growth of this market further. An increasing number of IoT devices in the market, followed by the connectivity issues arising out of it, is deemed to create opportunities for this market.
Factors such as increasing deployment of private LTE networks with the availability of unlicensed spectrums are a major driving factor for the market growth. Conversely, factors such as interoperability issues and challenges in the deployment cost of private LTE solutions due to radio access technology is likely to hamper the market growth.
Segmentation
By Component, Managed Services is projected to grow at a faster rate during the forecast period as it can cut the organizational expenses, thus improving the operator performance and further assist in the network planning.
By Technology, FDD or Frequency Division Duplex is projected to grow at a faster rate during the forecast period as it consists of different frequency bands for sending and receiving data signals so that the data signals do not interfere with one another.
By Frequency Band, the Unlicensed segment is projected to grow at a faster rate during the forecast period as there is a high amount of unlicensed spectrum available in the ISM band, which can be used for vast types of applications. Unlicensed spectrum with its many features such as network coverage, seamless mobility, and high quality of service is being utilized by several enterprises in the form of ISPs, CSPs, and MSPs, etc. to further support multiple businesses, etc. aiding segmental growth.
By Enterprise Vertical, the Government sector is projected to grow at a faster rate during the forecasted period as the private LTE networks provide a range of benefits like security, wide-coverage, and 24*7 connectivity. It facilitates the Government authorities to develop the network for public safety. Besides, the push given by the Government authorities to open new frequency bands in unlicensed and shared spectrum shall boost private LTE network.
By Geography, North America is estimated to lead the market. Factors attributed to the growth of the region are the advanced technological infrastructure, rising adoption of LTE services to support the requirements related to low-latency networks, an increasing number of mission-critical operations, and inclination towards industrial IoT applications.
Market Dynamics
Drivers
- Increased Deployment of Private LTE Networks
- Availability of Unlicensed Spectrums
- The Rise in the Open Networking Model System and High Amounts of Virtualization
- Need for Unique and Defined Network Qualities
Restraints
- Frequency Bands Interference
- Interoperability Issues
Opportunities
- The Emergence of Industrial and Commercial IoT
- The Convergence of 5G and Private LTE
- Rising Digital Transformation Initiatives in Industry Enterprises
- High Adoption of Robotics and Machine Learning Systems
Challenges
- The High Initial Cost of Deploying Network Infrastructure
- Investments in Leasing Licensed Frequency Bands
Companies Mentioned
- AT&T
- Nokia
- Ericsson
- Huawei
- ZTE Corporation
- NEC Corporation
- Athonet
- Affirmed Networks Inc.
- Redline Communications
- Samsung
- Boingo Wireless
- Casa Systems, Inc.
- Cisco Systems, Inc.
- Druid Software
- Future Technologies Inc.
- General Dynamics Mission Systems
- Motorola Solutions
- NetNumber, Inc.
- PDV Wireless
- Rivada Networks
- Ruckus Networks
- SpiderCloud Wireless
- Tait Communications
For more information about this report visit https://www.researchandmarkets.com/r/n6gmji
