Global private LTE market is forecast to grow from $ 1521.49 million in 2018 to $ 4965.20 million by 2024
NEW YORK, March 19, 2019 /PRNewswire/ -- Global Private LTE Market By Component (Technology (FDD & TDD), Service (Professional Service & Managed Service)), By Application (Public Safety, Logistics & Supply Chain Management and Asset Management), By Vertical, By Region, Competition, Forecast & Opportunities, 2024
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Global private LTE market is forecast to grow from $ 1521.49 million in 2018 to $ 4965.20 million by 2024, exhibiting a double-digit CAGR of over 21% during the forecast period, on account of increasing g demand for connected devices so as to ensure reliable and safe communication between devices. Private LTE is a long-term evolution network designed to serve specific enterprise business or government. Private LTE can be operated by traditional mobile operators or third-party network providers. The network eliminates restrictions associated with conventional network system by supporting both machine and human interaction on a single network. Currently, the market for private LTE is at a nascent stage; however, with the advent of IoT, global private LTE market is expected to gain traction over the next five years.
Based on the technology, global private LTE market can be bifurcated into frequency division duplex (FDD) and time division duplex (TDD).FDD technology dominated the private LTE market, however, TDD is expected to grow at the higher CAGR during the forecast period, as TDD is less complex in terms of circuit and have low interference as well.
In terms of service, managed service segment is expected to register the fastest CAGR growth during forecast period, as it offers high-quality service with relevant information related to operations, designs and maintenance.
On the basis of application, global private LTE market can be categorized into public safety, logistics & supply chain management and asset management segments. Public safety segment is anticipated to be the largest contributor to the global private LTE market during the forecast period, owing to challenges faced by government, military and other industries related to network and data security.
Globally, private LTE market is gaining traction and expanding to various regions including Asia-Pacific, North America, Europe, South America and Middle East & Africa. North America dominates global private LTE market and the region is expected to retain its leading position in coming years, on account of early adoption of the technology and presence of leading players in the region.
Major players operating in global private LTE market include Nokia Corporation, Huawei Technologies Co, Ericsson Inc, NEC Corporation, Verizon Communications etc.Major companies are developing advanced technologies and launching new products in order to stay competitive in the market.
Other competitive strategies include mergers & acquisitions and new product developments.
Years considered for this report:
Historical Years: 2014-2017
Base Year: 2018
Estimated Year: 2019
Forecast Period: 2020-2024
Objective of the Study:
• To analyze and forecast global private LTE market size.
• To classify and forecast global private LTE market based on component, vertical, application and regional distribution.
• To identify drivers and challenges for global private LTE market.
• To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in global private LTE market.
• To conduct the pricing analysis for global private LTE market.
• To identify and analyze the profile of leading players operating in global private LTE market.
Some of the leading players in global private LTE market are Nokia Corporation, Huawei Technologies Co, Ericsson Inc, NEC Corporation, Verizon Communications etc.
The analyst performed both primary as well as exhaustive secondary research for this study.Initially, The analyst sourced a list of service providers across the globe.
Subsequently, The analyst conducted primary research surveys with the identified companies.While interviewing, the respondents were also enquired about their competitors.
Through this technique, The analyst could include the service providers which could not be identified due to the limitations of secondary research. The analyst analyzed the service offerings, distribution channels and presence of all major service providers across the globe.
The analyst calculated global private LTE market size using a bottom-up approach, where data for various end-user segments was recorded and forecast for the future years was made.The analyst sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these service types and applications for getting an appropriate, overall market size.
Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by the analyst.
Key Target Audience:
• Private LTE service providers
• Security and intelligence service providers
• Research organizations and consulting companies
• Government bodies such as regulating authorities and policy makers
• Organizations, forums and alliances related to private LTE
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as service providers and partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
Report Scope:
In this report, global private LTE market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
• Market, by Component:
• Technology
Frequency Division Duplex (FDD)
Time Division Duplex (TDD)
• Service
Professional Service
Managed Service
• Market, by Application:
• Public Safety
• Logistics & Supply Chain Management
• Asset Management
• Market, by Vertical:
• Government & Defense
• Mining
• Energy & Utilities
• Manufacturing
• Transportation
• Others
• Market, by Region:
• Asia-Pacific
China
Japan
Australia
South Korea
India
• Europe
United Kingdom
Germany
France
Italy
Spain
• North America
United States
Mexico
Canada
• South America
Brazil
Argentina
Colombia
• Middle East & Africa
Saudi Arabia
Turkey
South Africa
UAE
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in global private LTE market.
Available Customizations:
With the given market data, we offers customizations according to a company's specific needs. The following customization options are available for the report:
Company Information
• Detailed analysis and profiling of additional market players (up to five).
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