The global private LTE market size reached US$ 5.0 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 10.3 Billion by 2028, exhibiting a growth rate (CAGR) of 12.4% during 2023-2028.
Private long-term evolution (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 an enterprise. Private LTE utilizes localized micro towers and small cells to provide enhanced connectivity, modify applications and reduce latency in the network. In comparison to public LTE, private LTE runs on its dedicated equipment and offers independent coverage, security, and performance. As a result, private LTE finds extensive applications across various industries, such as education, healthcare, manufacturing, oil and gas, energy and utility, retail and e-commerce, information technology (IT) and telecommunication.
Private LTE Market Trends:
Significant growth in the telecommunication industry across the globe is one of the key factors creating a positive outlook for the market. Private LTE provides improved bandwidth and data transfer speeds that prevent unstable internet connections during video and audio calls. Additionally, the widespread product utilization in smartphones and smart home devices, such as security alarms, connected city streetlights, smart waste management and wearable fitness and health trackers, is favouring the market growth. Moreover, various technological advancements, such as the integration of communication systems with artificial intelligence (AI) and the Internet of Things (IoT) solutions to provide seamless connectivity, enhanced security, outdoor coverage, and low latency, are providing a thrust to the market growth. These technologies analyse, optimize, and improve the data and maintain the confidentiality of sensitive information within the network. Other factors, including the increasing demand for wireless networks across organizations, along with the widespread product adoption in the medical industry for improved communications between healthcare systems, are anticipated to drive the market toward growth.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global private LTE market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on component, technology, frequency band, deployment model and industry vertical.
Breakup by Component:
Breakup by Technology:
Breakup by Frequency Band:
Breakup by Deployment Model:
Breakup by Industry Vertical:
IT and Telecom
Manufacturing, Retail and E-commerce
Government and Defense
Energy and Utility
Oil and Gas
Breakup by Region:
Middle East and Africa
The competitive landscape of the industry has also been examined along with the profiles of the key players being Airspan Networks Inc., ASOCS Ltd., Casa Systems Inc., Cisco Systems Inc., Comba Telecom Systems Holdings Limited, CommScope Inc., Druid Software Limited, Huawei Technologies Co. Ltd., Nokia Corporation, Qualcomm Incorporated, Sierra Wireless Inc and Telef?nica S.A.
Key Questions Answered in This Report
1. What was the size of the global private LTE market in 2022?
2. What is the expected growth rate of the global private LTE market during 2023-2028?
3. What are the key factors driving the global private LTE market?
4. What has been the impact of COVID-19 on the global private LTE market?
5. What is the breakup of the global private LTE market based on the component?
6. What is the breakup of the global private LTE market based on the technology?
7. What is the breakup of the global private LTE market based on the frequency band?
8. What is the breakup of the global private LTE market based on the deployment model?
9. What is the breakup of the global private LTE market based on the industry vertical?
10. What are the key regions in the global private LTE market?
11. Who are the key players/companies in the global private LTE market?