BANGALORE, India, June 29, 2020 /PRNewswire/ -- In 2018, the global Private LTE market size was 2420 Million USD and it is expected to reach 4240 Million USD by the end of 2025, with a CAGR of 8.4% during 2019-2025.
Private LTE is a standards-based LTE network scaled down to fit the needs of entities. Private LTE networks are based on wide-area mobility technologies and can easily be adapted for deployment in private organizations. Organizations that use a private LTE network can control their networking environment, which allows them to modify and optimize the networking technology to meet their needs.
This report focuses on the global Private LTE status, future forecast, growth opportunity, key market and key players.
Private LTE market size is expected to witness an increase in growth due to rapid adoption of IoT-based devices which are compatible with wireless networks. Private LTE systems offer smooth mobility and inter-cell hand-off, a key feature required by industrial IoT applications. Furthermore, the usage of IoT in smart building and cities will further drive the deployment of IoT modules, augmenting the growth of private LTE market size.
Other factors that can contribute to the growth of convergence of Private LTE and 5G, and the need for unique and defined network qualities.
Increasing demand for safe private networks with low latency and high operating efficiency at a reduced cost is expected to accelerate the deployment of private LTE networks through multiple end-use companies.
However, interoperability issues between various network platforms is a prominent industry challenge.
The growing need for stable private networks with high operational reliability and low latency levels at a reduced cost is likely to accelerate the deployment of private LTE networks through multiple end-use companies. Without sacrificing network security, private LTE networks allow companies to securely expand their networks to mobile devices & clouds for their employees
The growing use of private LTE networks by public safety agencies is expected to increase the private LTE market size. These networks allow them to increase awareness of situations, reduce response times and obtain more accurate information. To effectively respond to emergency situations, the public safety agencies as well as the Emergency Service Provider Organizations (ESPOs) are deploying private LTE networks to deliver secure mission-critical voice, video, and data.
Based on Application, the Transportation segment is expected to hold a significant Private LTE market share during the forecast period. Private LTE solutions provide service for various transport applications, including real-time surveillance, signaling data transfer, remote maintenance & control, vehicle internet, and vehicle information system.
Based in Type, the FDD segment is expected to hold the largest Private LTE market share.
Based on Region, due to the rising adoption of IoT platforms in various sectors like retail, manufacturing, and transportation in the Asia pacific region, the Private LTE market is expected to see a significant growth during the forecast period. IoT's exponential growth has sparked competition for private IoT networks. This has also allowed businesses to enhance resilience and security in their networks. Moreover, multiple spectrum and regulatory requirements adopted by regional governments are increasing the adoption of Private LTE networks.
North America is expected to hold the largest private LTE market share in 2018 and is expected to dominate during the forecast period as well. Increased LTE adoption to meet demand for low-latency networks within mission-critical communication and industrial IoT applications are the main factors contributing to the region's market development.
PRIVATE LTE MARKET SEGMENTATION
Market segment by Regions/Countries, this report covers
This report focuses on the global Private LTE Network status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Private LTE Network development in the United States, Europe and China.
4G LTE Market 's main growth driver includes rising technological developments in the telecommunications industry, growing demand for high-speed mobile networks, and increasing smart device production among others.
This report focuses on 4G LTE volume and value at global level, regional level and company level. From a global perspective, this report represents overall 4G LTE market size by analyzing historical data and future prospects. Regionally, this report focuses on several key regions: North America, Europe, China and Japan.
In 2019, the global LTE and 5G Broadcast market size was USD 386.6 Million and it is expected to reach USD 609.1 Million by the end of 2026, with a CAGR of 6.6% during 2021-2026.
The primary factors driving market growth are increased need for higher data-rates and higher spectral efficiency. The demand is further influenced by the introduction of LTE in public sectors such as public health, as well as in defense and security. During emergencies, these applications need high-speed communication; therefore, LTE is the best-suited network to fuel this need. Furthermore, the growing need of minimizing network capacity congestion is pushing the growth of the LTE and 5G broadcast market.
LTE base station system market size was valued at USD 21,824 Million in 2016, and is projected to reach USD 71,977 Million by 2023, growing at a CAGR of 18.6%.
The rapid growth of the urban population with an increase in telecom user base necessitated the introduction of a base station network for long-term evolution (LTE) to meet the rise in need of high-speed broadband services. In addition , the rise in companies' adoption of mobile media for promotional and sales activities has provided scope for the LTE base station system market.
Voice over Long Term Evolution (VoLTE) market is expected to garner USD 34.8 Billion by 2022, registering a CAGR of 50.1% during the forecast period 2016 - 2022.
The growing popularity of VoLTE services of video conferencing and file sharing have increased the rate of adoption of VoLTE in enterprises. The telecommunication sector currently demands for efficient voice call services with faster call setup time and improved spectral efficiency. The deployment of VoLTE services suffices these demands of the sector efficiently.
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