Private LTE market to grow by USD 3,526.19 million from 2022 to 2027| Growing demand for secure and reliable wireless communication drives growth - Technavio
NEW YORK, Aug. 2, 2023 /PRNewswire/ -- The private LTE market size is forecast to increase by USD 3,526.19 million from 2022 to 2027, at a CAGR of 10.35%, according to the recent market study by Technavio. The growth of the market will be driven by the growing demand for secure and reliable wireless communication, the increasing adoption of IoT devices and applications, and the need for dedicated and mission-critical communications. Charts & data tables about market and segment sizes for a historic period of five (2017-2021) years have been covered in this report. Download The Sample Report
Technavio has extensively analyzed 15 major vendors, including Airspan Networks Holdings Inc., ASOCS Ltd., Boingo Wireless Inc., Casa Systems Inc., Cisco Systems Inc., Comba Telecom Systems Holdings Ltd., CommScope Holding Co. Inc., Druid Software, Fujitsu Ltd., Hewlett Packard Enterprise Co., Huawei Technologies Co. Ltd., L3Harris Technologies Inc., Microsoft Corp., Motorola Solutions Inc., NEC Corp., Nokia Corp., Parallel Wireless Inc., Samsung Electronics Co. Ltd., Telefonaktiebolaget LM Ericsson, and ZTE Corp.
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Key Benefits for Industry Players & Stakeholders ?
The report offers information on the criticality of vendor inputs, including R&D, CAPEX, and technology.
It also provides detailed analyses of the market's competitive landscape and vendors' product offerings.
The report also provides a qualitative and quantitative analysis of vendors to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The market is segmented by End-user (Healthcare, Retail and e-commerce, IT and telecom, and Others), Component (Infrastructure and Services), and Geography (North America, Europe, APAC, Middle East and Africa, and South America).
The market share growth by the healthcare segment will be significant during the forecast period. In the healthcare industry, private LTE integration is anticipated to boost professional collaboration, provide remote patient monitoring, and accelerate the sector's digital transformation. Furthermore, as a result of the rising demand for sophisticated healthcare services, private LTE technology provides dependable and secure communication. Hence, owing to such factors, private LTE in healthcare will have strong business growth, which, in turn, is expected to drive the growth of the private LTE market during the forecast period future.
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Private LTE market - Market Dynamics
Key Drivers
Growing demand for secure and reliable wireless communication drives the growth of the private LTE market. Manufacturing, utilities, and transportation are among the major sectors factoring in the rising need for safe and dependable wireless communication. They heavily rely on effective and continuous communication in order to boost operational effectiveness, guarantee employee safety, and enable real-time monitoring and control systems.
Furthermore, they can also reduce the hazards of interference, congestion, and slowness, which are frequently observed in shared public networks by using private LTE. Hence, owing to factors such as the rising demand for secure and reliable wireless communication drives the growth of the private LTE market during the forecast period.
Major Challenges
Spectrum availability and licensing issues for private LTE deployments challenge the growth of the private LTE market. There is a difference between regions and nations in the regulations and spectrum band allotments for private LTE deployments.
Furthermore, the complicated ecosystem of spectrum rules, auctions, and regulatory frameworks that organizations must navigate may impede the timely deployment and expansion of private LTE networks. Additionally, it can take a long time, be expensive, and be difficult to get the necessary spectrum licenses. Hence, such challenges impede the growth of the private LTE market during the forecast period.
What are the key data covered in this Private LTE Market report?
CAGR of the market during the forecast period
Detailed information on factors that will drive the growth of the private LTE market between 2023 and 2027
Precise estimation of the size of the private LTE market and its contribution to the market with a focus on the parent market
Accurate predictions about upcoming trends and changes in consumer behavior
Growth of the private LTE market across North America, Europe, APAC, Middle East and Africa, and South America
A thorough analysis of the market's competitive landscape and detailed information about vendors
Comprehensive analysis of factors that will challenge the growth of private LTE market vendors
The LTE IoT market size is expected to increase by USD 12,085.2 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 24.09%. Furthermore, this report extensively covers LTE IoT market segmentation by technology (NB-IoT and LTE-M) and geography (Europe, North America, APAC, Middle East and Africa, and South America). The growth in industrial automation is notably driving the LTE IoT market growth.
The fixed LTE market size is expected to increase to USD 56.26 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 24.26%. Furthermore, this report extensively covers fixed LTE market segmentation by solution (LTE infrastructure and other solutions) and geography (North America, Europe, APAC, Middle East and Africa, and South America). The increase in public communication network operators and telecom vendors is notably driving the fixed LTE market growth.
Private LTE market scope
Report Coverage
Details
Base year
2022
Historic period
2017-2021
Forecast period
2023-2027
Growth momentum & CAGR
Accelerate at a CAGR of 10.35%
Market growth 2023-2027
USD 3,526.19 million
Market structure
Fragmented
YoY growth 2022-2023 (%)
9.88
Regional analysis
North America, Europe, APAC, Middle East and Africa, and South America
Performing market contribution
North America at 53%
Key countries
US, Canada, China, Japan, and France
Competitive landscape
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks
Key companies profiled
Airspan Networks Holdings Inc., ASOCS Ltd., Boingo Wireless Inc., Casa Systems Inc., Cisco Systems Inc., Comba Telecom Systems Holdings Ltd., CommScope Holding Co. Inc., Druid Software, Fujitsu Ltd., Hewlett Packard Enterprise Co., Huawei Technologies Co. Ltd., L3Harris Technologies Inc., Microsoft Corp., Motorola Solutions Inc., NEC Corp., Nokia Corp., Parallel Wireless Inc., Samsung Electronics Co. Ltd., Telefonaktiebolaget LM Ericsson, and ZTE Corp.
Market dynamics
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period.
Customization purview
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.
Table of Contents
1 Executive Summary
1.1 Market overview
Exhibit 01: Executive Summary ? Chart on Market Overview
Exhibit 02: Executive Summary ? Data Table on Market Overview
Exhibit 03: Executive Summary ? Chart on Global Market Characteristics
Exhibit 04: Executive Summary ? Chart on Market by Geography
Exhibit 05: Executive Summary ? Chart on Market Segmentation by End-user
Exhibit 06: Executive Summary ? Chart on Market Segmentation by Component
Exhibit 07: Executive Summary ? Chart on Incremental Growth
Exhibit 08: Executive Summary ? Data Table on Incremental Growth
Exhibit 09: Executive Summary ? Chart on Vendor Market Positioning
2 Market Landscape
2.1 Market ecosystem
Exhibit 10: Parent market
Exhibit 11: Market Characteristics
3 Market Sizing
3.1 Market definition
Exhibit 12: Offerings of vendors included in the market definition
3.2 Market segment analysis
Exhibit 13: Market segments
3.3 Market size 2022
3.4 Market outlook: Forecast for 2022-2027
Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million)
Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million)
Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)
4 Historic Market Size
4.1 Global private LTE market 2017 - 2021
Exhibit 18: Historic Market Size ? Data Table on global private lte market 2017 - 2021 ($ million)
Exhibit 175: Telefonaktiebolaget LM Ericsson - Overview
Exhibit 176: Telefonaktiebolaget LM Ericsson - Business segments
Exhibit 177: Telefonaktiebolaget LM Ericsson - Key news
Exhibit 178: Telefonaktiebolaget LM Ericsson - Key offerings
Exhibit 179: Telefonaktiebolaget LM Ericsson - Segment focus
12.17 ZTE Corp.
Exhibit 180: ZTE Corp. - Overview
Exhibit 181: ZTE Corp. - Business segments
Exhibit 182: ZTE Corp. - Key news
Exhibit 183: ZTE Corp. - Key offerings
Exhibit 184: ZTE Corp. - Segment focus
13 Appendix
13.1 Scope of the report
13.2 Inclusions and exclusions checklist
Exhibit 185: Inclusions checklist
Exhibit 186: Exclusions checklist
13.3 Currency conversion rates for US$
Exhibit 187: Currency conversion rates for US$
13.4 Research methodology
Exhibit 188: Research methodology
Exhibit 189: Validation techniques employed for market sizing
Exhibit 190: Information sources
13.5 List of abbreviations
Exhibit 191: List of abbreviations
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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