Categories: Market Research

Private LTE Market : Technology Advancements, Industry Insights, Trends And Forecast 2033

The Private LTE by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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https://www.thebusinessresearchcompany.com/report/private-lte-global-market-report

According to The Business Research Company’s Private LTE, 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..

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.

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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

Technological advancements are a key trend gaining popularity in the private LTE market. Major companies operating in the private LTE market are developing technologically advanced solutions to sustain their position in the market. For instance, in August 2021, Nippon Telegraph and Telephone Corporation, commonly known as NTT, a Japan-based technology and business solutions provider, launched NTT’s Private 5G platform (P5G), the first globally available private LTE/5G network-as-a-service platform. The platform’s pre-integrated partnerships with top network and software providers enable businesses to dynamically secure, scale and segment their networks. NTT P5G’s unique feature enables mission-critical apps to take advantage of the benefits of private 5G with its patent-pending MicroSlicing technology.

The private lte market report table of contents includes: