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.
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TRENDS INFLUENCING PRIVATE LTE MARKET SIZE
- 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.
PRIVATE LTE MARKET SHARE ANALYSIS
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
- United States
- Southeast Asia
- Central & South America.
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The key players covered in this study
- Arris International
- General Dynamics
- Future Technologies
- Redline Communications
- Ambra Solutions
- Star Solutions
- Druid Software
- Cradlepoint, Inc.
Market segment by Type, the product can be split into
Market segment by Application, split into
- Public Safety and Defense
- Oil & Gas
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● Public Safety LTE Market Report
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