Overview and Scope
Private LTE is a network that is a privately owned cellular network made up of a variety of parts, such as radio gear (both indoor and outdoor), mobile core software, SIM cards, and network orchestration software that may be tailored to meet the unique needs of an organization.
Sizing and Forecast
The private lte market size has grown rapidly in recent years. It will grow from $4.9 billion in 2023 to $5.52 billion in 2024 at a compound annual growth rate (CAGR) of 12.7%. The growth in the historic period can be attributed to spectrum availability, industry adoption phases, government initiatives, integration with iot, enterprise use case, market entrants and innovations..
The private lte market size is expected to see rapid growth in the next few years. It will grow to $8.81 billion in 2028 at a compound annual growth rate (CAGR) of 12.4%. The growth in the forecast period can be attributed to 5g integration, industry vertical demand, edge computing integration, cybersecurity enhancement, cloud-based deployments.. Major trends in the forecast period include network slicing, smart infrastructure, private network as a service (naas), mission-critical communication, increasing interoperability..
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Segmentation & Regional Insights
The private lte market covered in this report is segmented –
1) By Component: Infrastructure, Services
2) By Technology: Frequency-Division Duplexing, Time Division Duplexing
3) By Deployment Model: Centralized, Distributed
4) By Applications: Public Safety, logistics And Supply Chain, Asset Management
5) By End User: Utilities, Mining, Oil And Gas, Manufacturing, Transportation And Logistics, Government And Public Safety, Healthcare, Other End Users
North America was the largest region in the private LTE market in 2023. The regions covered in the private lte market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
The increasing adoption of smartphones is expected to propel the growth of the private LTE market going forward. A smartphone refers to a mobile phone that connects to the internet and features software like that on a laptop. Increase in the adoption of smartphones increases the use of private LTE as a smartphone’s private LTE network allows an individualized, secure, and high-performance mobile solution. For instance, according to the Pew Research Center, a US-based nonpartisan fact tank that informs the public about the issues, attitudes and trends shaping the world, the percentage of Americans who own a smartphone climbed from 85% in February 2021 to 96% in February 2023, which was just 35% a decade. Therefore, an increase in the adoption of smartphones is driving the growth of the private LTE market.
Key Industry Players
Major companies operating in the private LTE market are focused on developing innovative network, such as network core, to gain a competitive edge in the market. The network core, also known as the backbone network, is the central part of a telecommunications network responsible for routing and switching traffic between different parts of the network, ensuring efficient and reliable communication between users and applications. For instance, in February 2023, RAKwireless, a China-based provider of advanced IoT technology and services, launched an All-in-one 5G solution. It is designed to provide businesses and organizations with a comprehensive and easy-to-deploy 5G network. It is a 5G in a box that combines edge computing, an LTE/5G core network, and a 5G & LTE radio into one tiny cell container. All-in-one 5G is made to enable fast and effective deployment of new IoT technologies on top of a private network for companies of any size combined into one. 5G is powered by the familiar Raspberry Pi CM4 Core, bringing core network processing closer to the network edge than ever before, offering ultra-low latency and reliability, and providing a platform for businesses to innovate with new network applications.
The private lte market report table of contents includes:
1. Executive Summary
2. Private LTE Market Characteristics
3. Private LTE Market Trends And Strategies
4. Private LTE Market – Macro Economic Scenario
5. Global Private LTE Market Size and Growth
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31. Global Private LTE Market Competitive Benchmarking
32. Global Private LTE Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Private LTE Market
34. Private LTE Market Future Outlook and Potential Analysis
35. Appendix
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