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(Wireless-NewsWire.Com, June 09, 2022 ) According to a research report “The global Private LTE Market size is projected to grow from USD 4.0 billion in 2020 to USD 7.5 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 13.6% during the forecast period published by MarketsandMarkets”. Major factors such as the need for unique and defined network quality are expected to drive the growth of the global private LTE market. However, the fragmented spectrum may limit the market growth. On the other hand, there are significant growth opportunities for private LTE vendors. The growing demand in industrial and commercial IoT and mobile robotics and ML are expected to shape the future of the private LTE market. The high initial cost of deployment may pose a challenge to market growth. Many countries are still facing challenges while investing in the infrastructure of LTE.
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Driver: Availability of unlicensed spectrums such as CBRS and MulteFire bands
Enterprises can use licensed and unlicensed spectrums to deploy private LTE networks globally. Vendors have developed chipsets, infrastructure components, and Customer Premises Equipment (CPE) that enable private LTE networks to run in two unlicensed frequency bands: 5 GHz and 3.5 GHz. In the US, the 3.5 GHz is a part of the Citizens Broadband Radio Service (CBRS) band and MulteFire function in a 5 GHz band across the globe except for the US. The availability of unlicensed bands can pave the way for enterprises to deploy private LTE networks quickly without the intervention of Mobile Network Operators (MNOs), who own these license spectrum bands.
Opportunity: Emergence of industrial and commercial IoT
Organizations across various verticals are consistently trying to increase the use of IoT for automating their processes and increasing the throughput. Hence, the proliferation of IoT and associated technologies would create numerous opportunities for the private LTE market. The private LTE network allows users to integrate diverse sensors, machines, people, vehicles, and other devices across a wide range of applications and usage circumstances. Any private LTE network takes care of issues, such as reliability, service quality, security, and compliance. Companies such as Nokia, Samsung, and Cisco are some of the major players that are working toward the incorporation of private LTE networks in IoT. IIoT is another major use case in the private LTE market
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Asia Pacific (APAC) region to record the highest market share in the Private LTE market in 2020
APAC is an emerging region in the private LTE market. China, Japan, and Australia are the major countries contributing to the growth in APAC. APAC also constitutes major economies, such as Singapore, South Korea, and India. Japan, China, and Australia as essential for the growth of the private LTE market in this region. Japan and China are the largest manufacturing economies that produce automobiles, IT products, and electronic products. Manufacturing paradigm has changed considerably with industry seeking advanced technologies such as robotics and big data analytics becoming popular among them.
Key and innovative vendors in the private LTE market include Nokia ( Finland), Ericsson (Sweden), Huawei (China), ZTE (China), NEC (Japan), Affirmed Networks (US), Athonet (Italy), Samsung (South Korea), Redline communications (Canada), Airspan (US), Boingo Wireless (US), ASOCS (Israel), Casa Systems (US), Cisco (US), Comba (Hong Kong), CommScope (US), Druid Software (Ireland), ExteNet Systems (US), Fujitsu (Japan), Lemko (US), Mavenir (US), Quortus (UK), Star Solutions (Canada), Tecore (US), Telrad Networks (Israel), Wireless Excellence (UK), Accelleran (Belgium), Air-Lynx (France), Altiostar (US), Amarisoft (France), Baicells Technologies (US), Celona (US), IPLOOK (Hong Kong), JMA Wireless (US), Parallel Wireless (US), Phluido (US), NetNumber (US), JI Technology (Japan), Verizon (US), Sierra Wireless (Canada), Future Technologies (US), Ambra Solutions (Canada), URSYS (Australia), Geoverse (US), and Cradlepoint (US). These vendors have adopted many organic as well as inorganic growth strategies, such as new product launches, and partnerships and collaborations, to expand their offerings and market shares in the private LTE market.
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