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Global Private LTE Market to Grow at a CAGR of 14.2% During 2022-2027, Aided by the Technological Advancements

According to a new report by EMR titled, ‘Global Private LTE Market Report and Forecast 2022-2027’, the global market for private LTE attained a value of about USD 4.22 billion in 2021. The industry is further expected to grow at a CAGR of 14.2% in the forecast period of 2022-2027 to reach USD 9.22 billion by 2027.

The increasing demand for high-speed internet at a lower cost is driving the global market for private LTE, resulting from the digitalisation of various economies owing to the pandemic. Moreover, the benefits of private LTE, such as increased data speeds, preventing traffic from outside users, keeping high-risk information secure, reducing installation costs, and enabling flexibility, are driving people and organisations to adopt it, thus invigorating the market. The initiatives taken by the government to boost the infrastructure of private LTEs are further augmenting the market growth. The growing technological advancements such as cloud technology, AI, and others are expected to bolster the industry growth in the coming years.

The growing demand for private LTE that has exceptional qualities is leading many companies to compete in order to develop technologies and collaborate with each other, which is predicted to aid the market. In October 2020, AT&T Inc. (NYSE: T) announced its collaboration with Ericsson to offer Private Cellular Network on CBRS Spectrum. This collaboration is aimed at accelerating the digital transformation of industries and provide cost efficient private network solutions. In addition, Verizon Communications Inc. (NYSE: VZ), in December 2020, announced the launch of On Site LTE for enterprise customers. This private LTE offers customers a secure on-premises wireless network to manage critical business operations. This is a solution for customers to prioritise their processes and quality of services. These developments are expected to invigorate the private LTE industry growth in the forecast period.

Market Analysis by Component, Technology, Deployment Model, Industry Vertical, and Region:

  • The private LTE industry, based on component, is classified into infrastructure and services.
  • Based on technology, the market can be divided into FDD and TDD.
  • On the basis of deployment model, the market is categorised into centralised and distributed.
  • Based on frequency band, the market is divided into licensed, unlicensed, and shared spectrum.
  • On the basis of industry vertical, the market is classified into healthcare, manufacturing, government and defence, energy and utilities, oil and gas, and education, among others.
  • The regional markets for private LTE include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The global market for private LTE is being driven by the massive digitalisation particularly in emerging economies.
  • The need for cost efficient high-speed internet is contributing to the growth of the market.
  • The government policies to facilitate the development of private LTE network and infrastructure are further augmenting the market.
  • Technological advancements such as artificial intelligence, cloud technology, internet of things (IoT) and others are expected to bolster the industry in the upcoming years.
  • The increasing investments by key players operating in the market are also expected to impel the private LTE industry in the forecast period.

Key Offerings of the Report:

  • The EMR report gives an overview of the global market for private LTE for the periods (2017-2021) and (2022-2027).
  • The report also offers the historical (2017-2021) and forecast (2022-2027) markets for the components, technologies, deployment model, industry vertical, and major regions of private LTE.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global private LTE market are AT&T Inc., Verizon Communications Inc., Deutsche Telekom AG, Vodafone Group Plc, and Nokia Corporation, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

About Us:

Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

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*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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