The key drivers behind the revenue growth of the global private long-term evolution market are the increasing demand for proprietary higher quality networks and the convergence of 5G and private LTE (Long-Term Evolution). Increasing demand for high-speed wireless network connectivity is driving revenue growth in the global market. High demand for extended outdoor network coverage in various end-use industries is driving the revenue growth of the market.
Market Size – USD 4.87 Billion in 2021, Market Growth – at a CAGR of 13.7%, Market Trends – the increasing demand for proprietary higher quality networks and the convergence of 5G and private LTE (Long-Term Evolution).
The global private long-term evolution (LTE) market size was USD 4.87 Billion in 2021 and is expected to register a revenue CAGR of 13.7% over the forecast period, according to the latest report by Reports and Data.
The key drivers behind the revenue growth of the market are the increasing demand for proprietary higher quality networks and the convergence of 5G and private LTE (Long-Term Evolution). Increasing demand for high-speed wireless network connectivity is driving revenue growth in the global market. The private LTE network will be decoupled from the macro network and made available for IoT applications. It also improves network connectivity in critical areas such as healthcare centers, industrial sites and offshore oil and gas rigs that require seamless and fast network connectivity, resulting in higher bandwidth, better spectral efficiency, and low latency. High demand for extended outdoor network coverage in various end-use industries is driving the revenue growth of the market. LTE is a wide area wireless network technology that offers better performance than Wi-Fi and can operate far from base stations. Businesses such as mines, shipyards, oil rigs, and RV parks need to install fewer small cells to provide wider coverage areas. Additionally, private LTE is more secure than public connections. This means less cyberattacks as they are less vulnerable to attack vectors.
Companies profiled in the market report include Nokia Corporation, Ericsson, Huawei Technologies Co., Ltd., NEC Corporation, Verizon, Cisco Systems, Samsung Electronics, Luminate Wireless, Inc., Future Technologies, and Redline Communications.
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Some Key Highlights from the Report
- The government and public safety sector is expected to register a strong revenue CAGR during the forecast period. With the advent of Internet of Things (IoT) technologies and machine learning across various industries, and the growing number of connected devices, organizations face an increasing number of data and network security challenges.
- The mining segment will account for a significant portion of our 2020 sales. Mining operations commonly face some connectivity issues. Because these operations are often performed in remote areas with little or no cellular coverage, there are complex conditions and requirements such as: B. Expansion of underground communications.
- The North American market is expected to grow in 2020, driven by the presence of well-established infrastructure, increasing adoption of advanced technology, and increasing demand from various end-use industries such as mining, utilities, healthcare, and manufacturing. accounted for the largest share of sales. The presence of established market players also contributes to the revenue growth of the market.
- In May 2021, Anterix signed a partnership agreement with Motorola Solutions to facilitate the deployment of private LTE networks by utilities as part of their grid modernization initiative. Anterix's licensed low-band spectrum provides utilities with the opportunity to deploy private LTE network platforms, supporting their evolution to advanced networks.
- For the purpose of this report, Reports and Data has segmented the global Private long-term evolution (LTE) market based on Technology Outlook, Deployment Model Outlook, End-User Outlook, and Region:
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Technology Outlook (Revenue, USD Billion; 2019-2030)
- Frequency Division Duplex
- Time Division Duplex
Deployment Model Outlook (Revenue, USD Billion; 2019-2030)
- Centralized
- Distributed
End-User Outlook (Revenue, USD Billion; 2019-2030)
- Mining
- Energy and Utilities
- Manufacturing
- Transportation
- Others
Regional Outlook (Revenue, USD Billion; 2019-2030)
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East Africa
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Key Advantages of Private LTE Report:
- Identification and analysis of the market size and competition
- Qualitative and quantitative analysis of the market data
- Data validated by industry experts after extensive primary and secondary research
- Extensive regional analysis of the Private LTE industry
- Profiling of key players along with their business overview, business strategies, deals and partnerships, and product portfolio
- SWOT and Porter’s Five Forces Analysis for in-depth understanding of the competitive landscape
- Feasibility analysis and investment analysis to enable strategic investment decisions
- Analysis of opportunities, drivers, restraints, challenges, risks, and limitations
Conclusively, all aspects of the Private LTE market are quantitatively as well qualitatively assessed to study the global as well as regional market comparatively. This market study presents critical information and factual data about the market providing an overall statistical study of this market on the basis of market drivers, limitations and its future prospects.
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