Private LTE Market

Private LTE Market Size, Share, Trends, Growth, and Industry Analysis, By Component (Infrastructure and Service), Technology (Frequency Division Duplexing and Time Division Duplexing), By Deployment (Centralize and Distributed), By Industry Vertical (Healthcare, Retail & E-commerce, IT & Telecom, Manufacturing, Government and Defense, Energy and Utility, Oil and Gas, Education, and Others), Regional Insights and Forecast to 2032

ICT & Media | May 2022 | Report ID: EMR0024 | Pages: 210

global private LTE market size was USD 5.78 billion in 2022 and is predicted to reach USD 20.64 billion in 2031, exhibiting at a CAGR of 15.9% during the forecast period.

 

Private LTE is a network that is specially designed to serve specific enterprise, government, or educational purposes. Private LTE helps companies secure data by eliminating the connection between the core network and public mobile operators, and it can also be operated by a third-party network provider. A private LTE network enables connectivity between human and machine interactions by providing a single core network that is accessible to both. data usage with enhanced traffic flow for better information security.

Market Growth

Rising demand for secure and faster network connectivity from small and medium enterprises and an increasing number of businesses rapidly moving their operations to digital platforms are providing lucrative opportunities for market expansion in various countries. Private Long-Term Evolution (private LTE) refers to a cellular network system that provides individual network services independent of any carrier. It includes hardware, mobile core software, Subscriber Identification Module (SIM) cards, and network orchestration software that can be configured to support the specific requirements of an individual or enterprise business. For every business, industrial automation, cloud infrastructure, and others are key priorities that require a reliable and secure network, thereby driving revenue growth in the market. In addition, high-speed wireless network connectivity and the increasing demand for fifth generation (5G) are further propelling market revenue growth.

Moreover, increasing consumer awareness regarding the various benefits of utilizing private LTE is another key factor driving market revenue growth. For instance, private LTE improves network connectivity in healthcare facilities, industrial facilities, small businesses, and others. Other advantages of private LTE include low latency, high speed, improved security, consistent performance, and an expanded range. It is also more cost effective than other networks in terms of deployment. Private LTE networks can be controlled through SIM card-based credentials, and all the data is stored on a local network, offering extra protection to the company’s information. This is a key factor driving rapid growth in end-use industries. Furthermore, private LTE networks rely on the same technology as commercial networks, so companies can take advantage of technological advancements as and when they are developed, such as the latest LTE features or an upgrade to 5G technology networks.

Due to the COVID-19 pandemic, there has been an increase in the acceptance of wireless communication and digital technologies across diverse industries, including defence, healthcare, service, and manufacturing. The commercialization of the 5G network, driven by the pandemic across various countries, has positively impacted the demand for private LTE networks.

REPORT SCOPE & SEGMENTATION:

Report Attribute

Details

Projected Market Value (2031)

20.64 billion

Estimated Market Value (2022)

5.78 billion

Base Year

2022

Forecast Years

2024 - 2031

Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Component, Technology, Deployment, Industry Vertical and Region

Segments Covered

By Technology, By Component, By Deployment, By Industry Vertical and Region

Forecast Units

Value (USD Billion), and Volume (Units)

Quantitative Units

Revenue in USD million/billion and CAGR from 2023 to 2031

Regions Covered

North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World

Countries Covered

U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others

Report Coverage

Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.

Delivery Format

Delivered as an attached PDF and Excel through email, according to the purchase option.

 

Market Dynamics

Market Drivers

Rising demand for improved outdoor network coverage across a wide range of end-use industries is increasing market revenue growth. LTE is a Wireless Wide-Area Network (WWAN) technology that can operate at significantly higher distances from its base stations and outperform Wireless Fidelity (Wi-Fi). End-use businesses, such as mines, shipyards, and oil rigs, among others, necessitate the installation of a few small cells to provide broad coverage in the area. In addition, the need for high-speed Internet in these businesses is expected to drive demand for private LTE, which is also safer than public connections because it has fewer attacks and thus fewer cyberattacks to defend against. Moreover, private LTE scales to meet organizational requirements and can easily support low and high data rates, the Internet of Things, and machine-to-machine systems. Furthermore, the growing preference for and adoption of autonomous facilities, such as driverless cars, robots, and industrial process automation, is creating a high demand for a strong private network connection. However, significant investments in infrastructure development, as well as the introduction of Fifth Generation (5G), are also expected to increase market revenue growth.

Segments Covered in the Report

  • The industrial segment is expected to have the largest market share.

The private LTE market is segmented on the basis of component, technology, frequency band, industry vertical, and region. By component, it is classified into infrastructure and service. By technology, it is classified into frequency division duplexing and time division duplexing. By frequency band, it is classified into licensed, unlicensed, and shared spectrum. By industry vertical, it is divided into healthcare, retail and e-commerce, IT and telecom, manufacturing, government and defence, energy and utility, oil and gas, education, and others. By region, the market is classified across North America, Europe, Asia-Pacific, and LAMEA.

Regional Analysis

Based on regional analysis, the North American market accounted for the largest revenue share in 2022. Rising demand from the transportation and manufacturing industries is a large factor driving market growth in this region. In addition, significant investments in transforming business infrastructure and the rapid adoption of connected devices in various businesses have created large opportunities for the market to expand in various countries. Consumers and business owners alike require dependable and secure connections to run their businesses smoothly, securely, and effectively. Manufacturers, such as Hitachi and Toyota, have installed private LTE and 5G networks in this region's factories to support mobile assets, such as AGVs, as well as applications, including video surveillance, that promote productivity improvements. The U.S. market accounted for the largest revenue share due to significant investments in next-generation solutions by government, public, and private organizations. Furthermore, private LTE networks are well-known for providing future-proof, highly secure, dependable, and cellular connections to government and public safety agencies, utilities, and rail transport businesses. 

The Asia-Pacific region is expected to offer new market opportunities to the vendors of LTE networks. Considering the growth of the private LTE market, Japan, Australia, and China are major countries in APAC. Japan and China are the most significant manufacturing economies that produce automobiles, ICT products, and electronic products. The market growth of private LTE in this region is due to factors such as the rise in M2M communications, increased smartphone penetration, and the penetration of IoT platforms across various industry verticals such as healthcare, transportation, and manufacturing. This is increasing the demand for private IoT networks, allowing enterprises to incorporate various devices for increased network reliability and security of network. The growth of the private LTE market is also attributed to several efforts taken by the government authorities and telecom companies for the deployment of LTE technology in mission-critical applications. For instance, in June 2018, the South Korean government committed an investment of USD 1.7 billion to set up a nationwide public safety network based on LTE technology by 2020.

Competitive Landscape

The competitive landscape of the global private LTE market is fragmented, with many major key players operating on global and regional levels. Key players are engaged in product development and strategic alliances to expand their respective product portfolios and gain a robust footing in the global private LTE market. Major players in the market include,

  • Atandt
  • Verizon Communications
  • Deutsche Telekom
  • Vodafone Group
  • Telefonica
  • Nokia
  • Ericsson
  • Huawei
  • Zte Corp
  • Cisco Corporation

Segmentations

By Component

  • Infrastructure
  • Services

By Technology

  • FDD
  • TDD

By Deployement Model

  • Centralized
  • Distributed

By Frequency Band

  • Licensed
  • Unlicensed
  • Shared Spectrum

By Industry Vertical

  • Healthcare
  • IT & Telecom
  • Retail & E-commerce
  • Manufacturing
  • Government and Defense
  • Energy and Utility
  • Oil and Gas
  • Education
  • Others

Regional Outlook

  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Indonesia
    • Others
  • Europe
    • Norway
    • Netherlands
    • Sweden
    • United Kingdom
    • France
    • Germany
    • Others
  • North America
    • United States
    • Canada
  • Middle East and Africa
    • Turkey
    • Saudi Arabia
    • Iran
    • United Arab Emirates
    • Others
  • Latin America
    • Brazil
    • Mexico
    • Argentina
    • Colombia
    • Others

Research Methodology

Our research methodology has always been the key differentiating reason which sets us apart in comparison from the competing organizations in the industry. Our organization believes in consistency along with quality and establishing a new level with every new report we generate; our methods are acclaimed and the data/information inside the report is coveted. Our research methodology involves a combination of primary and secondary research methods. Data procurement is one of the most extensive stages in our research process. Our organization helps in assisting the clients to find the opportunities by examining the market across the globe coupled with providing economic statistics for each and every region.  The reports generated and published are based on primary & secondary research. In secondary research, we gather data for global Market through white papers, case studies, blogs, reference customers, news, articles, press releases, white papers, and research studies. We also have our paid data applications which includes hoovers, Bloomberg business week, Avention, and others.

Data Collection

Data collection is the process of gathering, measuring, and analyzing accurate and relevant data from a variety of sources to analyze market and forecast trends. Raw market data is obtained on a broad front. Data is continuously extracted and filtered to ensure only validated and authenticated sources are considered. Data is mined from a varied host of sources including secondary and primary sources.

Primary Research

After the secondary research process, we initiate the primary research phase in which we interact with companies operating within the market space. We interact with related industries to understand the factors that can drive or hamper a market. Exhaustive primary interviews are conducted. Various sources from both the supply and demand sides are interviewed to obtain qualitative and quantitative information for a report which includes suppliers, product providers, domain experts, CEOs, vice presidents, marketing & sales directors, Type & innovation directors, and related key executives from various key companies to ensure a holistic and unbiased picture of the market. 

Secondary Research

A secondary research process is conducted to identify and collect information useful for the extensive, technical, market-oriented, and comprehensive study of the market. Secondary sources include published market studies, competitive information, white papers, analyst reports, government agencies, industry and trade associations, media sources, chambers of commerce, newsletters, trade publications, magazines, Bloomberg BusinessWeek, Factiva, D&B, annual reports, company house documents, investor presentations, articles, journals, blogs, and SEC filings of companies, newspapers, and so on. We have assigned weights to these parameters and quantified their market impacts using the weighted average analysis to derive the expected market growth rate.

Top-Down Approach & Bottom-Up Approach

In the top – down approach, the Global Batteries for Solar Energy Storage Market was further divided into various segments on the basis of the percentage share of each segment. This approach helped in arriving at the market size of each segment globally. The segments market size was further broken down in the regional market size of each segment and sub-segments. The sub-segments were further broken down to country level market. The market size arrived using this approach was then crosschecked with the market size arrived by using bottom-up approach.

In the bottom-up approach, we arrived at the country market size by identifying the revenues and market shares of the key market players. The country market sizes then were added up to arrive at regional market size of the decorated apparel, which eventually added up to arrive at global market size.

This is one of the most reliable methods as the information is directly obtained from the key players in the market and is based on the primary interviews from the key opinion leaders associated with the firms considered in the research. Furthermore, the data obtained from the company sources and the primary respondents was validated through secondary sources including government publications and Bloomberg.

Market Analysis & size Estimation

Post the data mining stage, we gather our findings and analyze them, filtering out relevant insights. These are evaluated across research teams and industry experts. All this data is collected and evaluated by our analysts. The key players in the industry or markets are identified through extensive primary and secondary research. All percentage share splits, and breakdowns have been determined using secondary sources and verified through primary sources. The market size, in terms of value and volume, is determined through primary and secondary research processes, and forecasting models including the time series model, econometric model, judgmental forecasting model, the Delphi method, among Flywheel Energy Storage. Gathered information for market analysis, competitive landscape, growth trends, product development, and pricing trends is fed into the model and analyzed simultaneously.

Quality Checking & Final Review

The analysis done by the research team is further reviewed to check for the accuracy of the data provided to ensure the clients’ requirements. This approach provides essential checks and balances which facilitate the production of quality data. This Type of revision was done in two phases for the authenticity of the data and negligible errors in the report. After quality checking, the report is reviewed to look after the presentation, Type and to recheck if all the requirements of the clients were addressed.

Frequently Asked Questions

The global private LTE market is expected to reach USD 20.64 million by 2031.
The private LTE market is expected to exhibit a CAGR of 15.9% by 2031.
The dominating companies in the private LTE market are Atandt, Verizon Communications, Deutsche Telekom, Vodafone Group, Telefonica, Nokia, Ericsson, Huawei, Zte Corp, Cisco Corporation.