The private LTE market is projected to grow at a CAGR of 24.35% during the forecast period, reaching a total market size of US$9.287 billion in 2024 from US$2.512 billion in 2018. Private LTE is envisioned as standards-based Long Term Evolution networks designed to serve specific enterprise business, government or educational purposes. Increasing adoption of isolation is boosting the market of private LTE. Increased demand for private LTE from industries for improved security for business applications, high operational efficiency, and low deployment costs are further boosting the market growth. The private LTE network helps to meet the requirements necessary to attain IIoT. However, complexity in the implementation of a private LTE network may hamper the market growth. Geographically, the North America region is expected to have a significant market share on account of the widespread adoption of private networks. The Asia Pacific region is expected to witness rapid growth owing to the increased smartphone penetration and by the penetration of IoT platforms across various industry verticals such as healthcare, transportation, and manufacturing in the region.
The “Private LTE Market – Forecasts from 2019 to 2024” is an exhaustive study that aims to present the key market trends through various chapters focusing on different aspects of the market. The study provides a detailed market overview through the market dynamics sections which detail key market, drivers, restraints, and opportunities in the current market. The report analyzes key opportunity regional markets, and the current technology penetration through lifecycle analysis. The report also analyzes the market through comprehensive market segmentation by technology, component, industry vertical, and geography.
The private LTE market has been segmented based on technology, component, industry vertical, and geography. By technology, the market has been segmented into frequency division duplex (FDD), and time division duplex (TDD). By component, the market is segmented as hardware, software, and services. By industry vertical, the market has been segmented into aviation, oil and gas, manufacturing, utilities, and others.
Regional analysis has been provided with detailed analysis and forecast for the period 2018 to 2024. The global market has been broken down into North America, South America, Europe, Middle East and Africa, and Asia Pacific regions. The report also analyzes 15 countries across these regions with thorough analysis and forecast along with prevailing market trends and opportunities which each of these countries present for the manufacturers.
Major players in the private LTE market have been covered along with their relative competitive position and strategies. The report also mentions recent deals and investments of different market players over the last year. The company profiles section details the business overview, financial performance for the past three years, key products and services being offered along with the recent developments of these important players in the private LTE market.