Private LTE Global Market Report 2024

The private lte market size has grown rapidly in recent years. It will grow from $4.9 billion in 2023 to $5.52 billion in 2024 at a compound annual growth rate (CAGR) of 12.7%. The growth observed in the historical period can be attributed to factors such as spectrum availability, industry adoption phases, government initiatives, integration with the Internet of Things (IoT), enterprise use cases, the entry of new players into the market, and ongoing innovations within the private LTE space.

The private lte market size is expected to see rapid growth in the next few years. It will grow to $8.81 billion in 2028 at a compound annual growth rate (CAGR) of 12.4%. The anticipated growth in the forecast period can be attributed to the integration of 5G technology, increased demand from various industry verticals, the integration of edge computing, enhancements in cybersecurity measures, and the adoption of cloud-based deployments within private LTE networks. Major trends expected in the forecast period include the implementation of network slicing, the development of smart infrastructure, the emergence of private networks as a service (NaaS), a focus on mission-critical communication, and an increasing emphasis on interoperability within private LTE systems.

The anticipated increase in smartphone adoption is set to drive the growth of the private LTE market in the coming years. A smartphone, functioning such as a mobile phone with internet connectivity and software akin to a laptop, contributes to the rising use of private LTE. This is facilitated by a smartphone's private LTE network, providing a personalized, secure, and high-performance mobile solution. Pew Research Center data indicates a substantial surge in smartphone ownership among Americans, rising from 85% in February 2021 to 96% in February 2023. This represents a significant increase from just 35% a decade ago. Consequently, the expanding adoption of smartphones emerges as a key driver propelling the growth of the private LTE market.

The escalating rates of internet penetration are expected to fuel the expansion of the private LTE market. Internet penetration rate denotes the percentage of a given population using the internet. Private LTE plays a crucial role in enhancing internet penetration by extending coverage to areas where traditional wired or public cellular networks may not reach. It also allows precise control over network resources, enabling organizations to prioritize specific traffic types based on requirements. According to a report by the International Telecommunication Union (ITU), around 67% of the world's population, or approximately 5.4 billion people, were estimated to be using the internet in 2021. This represents a 1.88% increase from 2022, with 0.1 billion new users coming online during that period. Thus, the growing rates of internet penetration emerge as a significant factor driving the growth of the private LTE market.

Technological advancements represent a prominent trend gaining traction in the private LTE market. Major companies within this market segment are actively engaged in developing technologically advanced solutions to maintain their competitive positions. A notable example is Nippon Telegraph and Telephone Corporation (NTT), a Japan-based technology and business solutions provider. In August 2021, NTT launched the Private 5G platform (P5G), recognized as the first globally available private LTE/5G network-as-a-service platform. Featuring pre-integrated partnerships with leading network and software providers, NTT P5G allows businesses to dynamically secure, scale, and segment their networks. The platform's unique feature includes the utilization of patent-pending MicroSlicing technology, enabling mission-critical applications to leverage the benefits of private 5G.

Major companies operating in the private LTE market are directing their efforts towards developing innovative network solutions, such as the network core, to gain a competitive edge. The network core, also referred to as the backbone network, is the central component of a telecommunications network responsible for routing and switching traffic between different segments. RAKwireless, a China-based provider of advanced IoT technology and services, exemplifies this trend. In February 2023, RAKwireless launched an All-in-one 5G solution designed to provide businesses and organizations with a comprehensive and easily deployable 5G network. This solution combines edge computing, an LTE/5G core network, and a 5G & LTE radio into a compact unit, facilitating fast and effective deployment of new IoT technologies on private networks.

In January 2021, Communications Technology Services, a U.S.-based telecommunications company, acquired ClearSky Technologies, a move aimed at establishing a solid foundation for the installation of private LTE and 5G networks. ClearSky Technologies operates in the private LTE market, contributing to the synergy created by this acquisition.

Major companies operating in the private lte market report are Nokia Corporation, Telefonaktiebolaget LM Ericsson, Huawei Technologies Co. Ltd., ZTE Corporation, Cisco Corporation, Verizon Communications Inc., Qualcomm Technologies Inc., Ruckus Networks Inc., Future Technologies Pvt. Ltd., Comba Telecom Systems Holdings Ltd., CommScope Inc., Samsung Group, Sierra Wireless Inc., Quortus Limited, Star Solutions Inc., Tecore Networks, Telrad Networks, Wireless Excellence, Ericsson AB, NEC Corporation, Aviat Networks Inc., Affirmed Networks Inc., Athonet SpA, Airspan Networks Inc., ASOCS Inc., Boingo Wireless Inc., Druid Software Limited, ExteNet Systems Inc., Fujitsu Limited, Lemko Corporation.

North America was the largest region in the private LTE market in 2023. The regions covered in the private lte market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the private lte market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The main components of private LTE are infrastructure and services. Infrastructure refers to the fundamental physical facilities of a company, area, or country and often involves the creation of public goods or manufacturing processes. The technologies involved are frequency-division duplexing and time division duplexing, deployed in centralized and distributed models for applications such as public safety, logistics and supply chain, and asset management. End users of private LTE networks include sectors such as utilities, mining, oil and gas, manufacturing, transportation and logistics, government and public safety, healthcare, and others.

The private LTE market research report is one of a series of new reports that provides private LTE market statistics, including private LTE industry global market size, regional shares, competitors with private LTE market share, detailed private LTE market segments, market trends, and opportunities, and any further data you may need to thrive in the private LTE industry. This private LTE market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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