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Private LTE Market is expected to reach US$ 11.1 billion by 2030

Private LTE market projected to surpass US$ 11.1 billion by 2030 from US$ 5.1 billion in 2022|growth prospects based on- components, types, and end-users

By The Insight Partners

Growing Demand for Reliable and Efficient Communications Network Infrastructure Drives Private LTE Market Growth

According to our latest study on “Private LTE Market Size and Forecast (2020–2030), Global and Regional Share, Trend, and Growth Opportunity Analysis – by Component, Type, and End-User,” the private LTE market size was valued at US$ 5.1 billion in 2022 and is expected to reach US$ 11.1 billion by 2030. The private LTE market is estimated to record a CAGR of 10.2% from 2022 to 2030.

The continuous growth of communication infrastructure has led to an exponential increase in the energy consumption of data centers, telecommunication networks, and other related technologies. With the rising demand for digital services and emerging technologies such as the Internet of Things (IoT), there is an urgent need for more energy-efficient solutions in the communication sector.

Private LTE Market – by Region, 2022 and 2030

To get free sample copy of the report, along with the TOC, Statistics, and Tables please visit @ https://www.theinsightpartners.com/brochure/TIPRE00003471

Source: The Insight Partners Analysis

The emergence of IoT has enabled each device to be connected over the internet, and the increasing global adoption would result in billions of devices connected over the internet. These devices are bound to create vast amounts of data. Furthermore, with the growth in mobile broadband data, new use cases such as Fixed Wireless Access, Critical IoT, and Massive IoT will evolve. These evolutions will increase data traffic in the future. The capabilities of existing network infrastructures have benefited telecommunication service providers and carrier operators with various telecommunication bodies globally to develop a standard infrastructure for private LTE. As private LTE operates with a high-frequency spectrum, it enables the connection of many devices over the network. Thus, the rising demand for reliable and efficient communication network infrastructure drives the private LTE market growth globally.

Private LTE puts a manufacturing site’s network on a different frequency so robotic and IoT devices don’t have to compete for coverage. A private LTE network provides a higher quality of service for appliance, driving its demand in manufacturing industry and fostering private LTE market growth. Moreover, manufacturers are trying to update their outdated systems in order to be compliant with sector 4.0, a sector built on cutting-edge technology such as Private LTE networks. Private LTEs provide manufacturers with two significant advantages: they may accelerate machine-machine and human-machine communication while also offering stable connectivity even in conditions where other wireless signals may struggle (for example, outdoors). Thus, the manufacturing segment in gaining traction in the private LTE market share.

The private LTE solutions in the transportation sector provide services for various applications such as real-time surveillance, remote maintenance and monitoring, data transmission for signaling systems, the internet for passengers, and passenger information systems. The transportation sector will highly contribute to the market growth due to these benefits. The increasing demand for communication systems in conventional metros, buses, railways, and new driverless trains is fueling the adoption of private LTE owing to safety and management in rail operations and improved service quality for passengers.

The global private LTE market is segmented based on component, type, end user, and geography. Based on component, the private LTE market is segmented into solutions and services. In terms of type, the private LTE market is segmented into FDD and TDD. Based on end-user, the market is segmented into manufacturing, energy & utilities, healthcare, transportation, mining, and others. In terms of geography, the global private LTE market is segmented into five major regions: North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and South America (SAM).

Cisco Systems, Inc.; ERICSSON; Huawei Technologies Co., Ltd; Samsung; VERIZON COMMUNICATIONS, INC; CommScope Inc.; Future Technologies, Inc.; NetNumber, Inc.; Star Solutions; and Sierra Wireless, Inc. are among the private LTE market players.

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