Private LTE Market by Technology (TDD and FDD), by Services (Professional Services and Managed Services), by Professional Services Forecast 2024
Private LTE Market Overview:
According
to MRFR analysis, the global private LTE market was valued at USD 2,449.4
million in 2018 and is expected to reach USD 5,381.9 Million by 2024,
registering a CAGR of 14.7% during the forecast period. The market growth is
attributed to the expansion of private LTE networks in public safety agencies,
increasing adoption of LTE technology in smart cities applications, and the
integration of 5G with private LTE networks.
However,
the insufficient availability of spectrum is expected to hinder the growth of
the private LTE market during the review period.
The Private LTE Market has been segmented based on
technology, services, spectrum band, application, industry vertical, and
region.
Major
Key Players:
Some of the
prominent vendors players in the global private LTE market include are Nokia
Corporation (Finland), LM Ericsson (Sweden), Qualcomm Incorporated (US), ARRIS
International Limited (US), Sierra Wireless (Canada), Future Technologies, LLC
(US), Boingo Wireless, Inc (US), Verizon (US), Cisco Systems, Inc. (US), SAMSUNG
(South Korea), Casa Systems (US), General Dynamics Mission Systems, Inc. (US),
Huawei Technology Co. Ltd (China), and NetNumber Inc. (Netherlands).
Apart from
the aforementioned players, the other vendors operating in the global private
LTE market include Athonet SRL (Italy), Mavenir (US), Ambra Solutions Inc.
(Canada), Zinwave (US), Star Solutions (Canada), LEMKO Corporation (US),
PDVWIRELESS (US), Quortus Limited (UK).
Segments:
By
technology, the global private LTE market has been bifurcated into time
division duplex (TDD) and frequency division duplex (FDD). The TDD segment is
expected to have a larger market share and is projected to dominate the market
during the forecast period. The market growth is due to its flexibility in
selecting uplink to downlink data rate ratios, the capability to work on
channel reciprocity and in the non-paired spectrum, and lesser complexity in
designing transceivers. However, the FDD segment is anticipated to exhibit the
higher CAGR owing to the difficulty of using special antenna techniques such as
multiple-input multiple-output (MIMO) and beamforming. These technologies are
vital for LTE 4G networks for increasing data rates.
Based on
services, the private LTE market has been segmented into professional services
and managed services. The managed services segment accounted for the larger
market size in 2018, whereas the professional services segment is expected to
register the higher CAGR. The market growth for managed services is attributed
to an increase in the need for outsourcing the various telecom services, which
in turn enables the enterprises to lower the additional expenditure on network
services. However, the professional services segment has been sub-segmented
into consulting services, support and maintenance services, and integration and
deployment services. The need for a customized solution for private LTE to is
likely to fuel the market growth of the professional services segment over the
review period.
On the
basis of spectrum band, the market has been categorized as Licensed Shared
Access (LSA), Licensed-Assisted Access (LAA), MulteFire, and Citizens Broadband
Radio Service (CBRS). These spectrum bands are initial phase of deployment and
companies are gradually adopting these unlicensed spectrum band to increase
their network capacity and reduce network deployment costs.
By
application, the global private LTE market has been divided into real-time
surveillance, operations visibility & optimization, authentication and
access control, worker safety monitoring, remote diagnostics & predictive
maintenance, logistics and supply chain management, asset management, and
uptime assurance. The real-time surveillance segment accounted for the largest
market share in 2018 and is expected to dominate the market during the forecast
period. The market growth is due to the increased adoption of dedicated
communication channels for various industry verticals, including mining, oil
& gas, government, and defense. The need for real-time surveillance
solution for public safety and smart cities initiatives are likely to drive the
market growth for real-time surveillance segment during the forecast period.
Moreover, logistics and supply chain management is expected to be the fastest
growing segment during the forecast period—this is due to rising demand for
connected devices, increased adoption of IoT-based devices across industries,
and a surge in the adoption of robotics and smart machines in the manufacturing
industry.
Based on
industry vertical, the market has been categorized as mining, healthcare,
utilities and power, industrial manufacturing, government, and defense. The
mining segment accounted for the largest market share in 2018 and is expected
to dominate the market during the forecast period. The market growth is
attributed to rising cybersecurity threats to mining industries, which has
increased the need for a private LTE network that isolates threat elements over
public networks. The industrial manufacturing segment is expected to fastest
growing segment owing to manufacturers are that increasing seeking ways to
increase their operational efficiencies and production capacity.
Regional
Analysis:
Geographically,
the global private LTE market has been segmented into North America, Europe,
Asia-Pacific, the Middle East and Africa, and South America. North America
accounted for the largest market in 2018 and the US is the leading
country-level market due to presence of large number of private LTE solution
providers. Moreover, Asia-Pacific is expected to be the fastest-growing private
LTE market over the next few years.
The
government initiatives to boost the smart cities programmes in deploying public
safety solutions and rapid investments from domestic vendors to develop the
dedicated network infrastructure are factors expected to propel the market
growth during the forecast period.
Table of
Contents
1
Executive Summary
1.1 Market
Attractiveness Analysis
1.1.1
Global Private LTE Market, By Technology
1.1.2
Global Private LTE Market, By Services
1.1.3
Global Private LTE Market, By Spectrum Band
1.1.4
Global Private LTE Market, By Application
1.1.5
Global Private LTE Market, By Industry Vertical
1.1.6
Private LTE Market, By Region
Continued…
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List of
Tables
Table 1
Global Private LTE Market, By Region, 2019–2024
Table 2
North America: Private LTE Market, By Country, 2019–2024
Table 3
Europe: Private LTE Market, By Country, 2019–2024
Table 4
Asia-Pacific: Private LTE Market, By Country, 2019–2024
Table 5
Middle East & Africa: Private LTE Market, By Country, 2019–2024
Continued…
List of
Figures
Figure 1
Global Private Lte Market Segmentation
Figure 2
Forecast Methodology
Figure 3
Porter’s Five Forces Analysis Of The Global Private Lte Market
Figure 4
Value Chain Of The Global Private Lte Market
Figure 5
Share Of The Global Private Lte Market, By Country, 2018 (In %)
Continued…
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