Private LTE Market Outlook, Opportunity and Demand Analysis Report 2019 to 2024
Category: #tech  By Partha Ray  Date: 2019-07-11
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Private LTE Market Outlook, Opportunity and Demand Analysis Report 2019 to 2024

Global Private LTE Market Report added by MarketstudyReport.com offers industry size, share, growth, trends and forecast analysis up to 2024. Private LTE Market Report also covers top key players, porter’s five forces analysis and market segmentation in detail. This report examines the global Private LTE market and provides information regarding the revenue for the period 2018 to 2024.

The private LTE market in Europe is projected to grow at a CAGR of over 30% from 2018 to 2024. The market growth is driven by the huge investments in private LTE and 5G-ready networks that ensure improved connectivity and provide wider coverage. For instance, in January 2018, French mobile telephone operators planned to invest USD 3.7 billion to introduce 4G network to remove the coverage gaps by 2020. The operators including Orange, SFR, Bouygues Telecom and Iliad?s Free Mobile have planned to install 5,000 masts and antennas and ensure network coverage along 30,000km of rail tracks. Various efforts made towards the testing of 5G-ready networks will contribute towards the growth of the private LTE networks. These networks meet the needs of enterprises with specific requirements with respect to coverage, security and low latency. For instance, in February 2018, Germany?s Social Democrats and conservatives signed a coalition agreement to allocate approx. USD 9.67 billion to build gigabit-speed fixed-line data networks over the next four years. The parties aim to construct the 5G networks to enhance coverage, including auctioning licenses on regional basis.

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Private LTE market is projected to surpass USD 11 billion by 2024. These networks are becoming extensively popular for private and industrial environments as they offer faster network speeds, high-bandwidth and better security. Private LTE has become a preferable approach as compared to enterprise-class Wi-Fi and commercial carrier LTE networks. By deploying a high-speed dedicated network, enterprises can enhance their operational efficiency and reduce CAPEX costs. These networks offer numerous benefits for the enterprise and industrial applications where productivity and security must be maintained at higher levels. The private networks provide broadband data connections with mobility and roaming capabilities, SIM-based security and support for IoT devices. The technology complements the existing Ethernet and Wi-Fi networks and supports the digital transformation towards the adoption of 5G networks.

 

Private LTE market is gaining momentum with the increase in deployments for various use cases such as enterprise IIoT applications, defense, transportation, energy and mining. A dedicated network enables organizations to control their own networking environment, customize it as per their requirements and ensures more coverage. For instance, in the critical communications industry, LTE has emerged as one of the most widely adopted networks. The network enables the use of various applications such as live streaming during emergency situations or directing mission-critical assets. The agencies are rapidly embracing dedicated networks to ensure a coordinated response, offer actionable data insights and to enhance situational awareness. Private LTE is also gaining popularity in mission-critical airport communications to enable operators to have a secure control over a smart airport network.

 

Vehicular routers in the private LTE market are projected to grow at a CAGR of over 32% over the forecast timeline. The market growth is driven by their ability to provide fast and reliable wireless connectivity for deployments where wired options are too expensive. These routers enable seamless connectivity and are crucial for enabling various applications such as fleet management, video surveillance and monitoring of connected mobile assets.
 

The mining sector is estimated to register an impressive CAGR of over 33% in the private LTE market between 2018 and 2024. The technology helps the industry in automating key mining functions to gain operational efficiencies. These networks offer the low latency needed to operate the autonomous systems such as drills and drones in harsh, remote environments.
 

North America is estimated to hold the largest market share of over 40% by 2024 due to the rise in adoption of private LTE to support the need for low latency networks for mission-critical communications and industrial IoT applications. For instance, in June 2017, Bell, a Canadian communications company launched LTE-M technology to offer the rapidly increasing use of IoT devices on wide area networks in Canada. The LTE-M technology improves the efficiency of IoT devices and provides better coverage in underground and hard to reach locations.
 

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The vendors operating in the Private LTE market are AT&T Inc, Boingo Wireless, Casa Systems Inc, Cisco Systems Inc, Druid Software, Telefonaktiebolaget LM Ericsson, Future Technologies Inc, General Dynamics Mission Systems, Huawei Technologies Co Ltd, Motorola Solutions, NetNumber Inc, Nokia Corporation, PDV Wireless, Qualcomm Incorporated, Rivada Networks, Ruckus Networks, SAMSUNG ELECTRONICS CO LTD, Sierra Wireless, SpiderCloud Wireless, Tait Communications.
 

Table of Content:
 

Chapter 1 Methodology & Scope

Chapter 2 Executive Summary

Chapter 3 Private LTE Industry Insights

Chapter 4 Competitive Landscape

Chapter 5 Private LTE Market, By Component

Chapter 6. Private LTE Market, By Application

Chapter 7. Private LTE Market, By Region

Chapter 8. Company Profiles

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About Author

Partha Ray    

Partha Ray

Partha is into digital marketing since the last 3 years and has worked on multiple projects across various industries. An Computer Science engineer by education, he has prior experience in software development. His other interests include playing cricket & Hockey.

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