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Private LTE market Research
The growing adoption of smartphones has increased global data usage on a per-person basis, increasing the need for LTE services and driving the industry.
PORTLAND, PORTLAND, OR, UNITED STATE, November 8, 2023 /EINPresswire / -- Allied Market Research published a new report, titled, " The USD 10.64 Billion Private LTE Market Worth by 2027 | Top Players such as - AT&T, Verizon and Telefonica." The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter's Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.
The global private LTE market size was valued at USD 3.78 billion in 2019, and is projected to reach at USD 10.64 billion by 2027, growing at a CAGR of 13.9% from 2020 to 2027.
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Surge in demand for defined and unique network qualities, rise in need for wireless due to shifting of business toward digitization, availability of deployment of unlicensed and shared spectrum in private LTE, and infusion of cloud technology and virtualization & open network model drive the growth of the global private LTE market. On the other hand, high cost of deployment, issue arising in Interoperability, and frequency band interference restrain the market growth. On the other hand, rise in adoption of robotics and artificial intelligence in the industry and upsurge in use of industrial IoT and 5G network present new opportunities in the coming years.
Private LTE market is segmented on the basis of component, technology, frequency band, industry vertical, and region. By component it is bifurcated into infrastructure and service. By technology, it is bifurcated into frequency division duplexing and time division duplexing. By frequency band, it is categorized into licensed, unlicensed, and shared spectrum. By industry vertical, it is classified into Healthcare, Retail & E-commerce, IT & Telecom, manufacturing, government and defence, energy and utility, oil and gas, education and others. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
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Based on component type, the infrastructure segment contributed to the highest market share, accounting for nearly two-thirds of the global private LTE market in 2019, and will maintain its leadership status throughout the forecast period. This is because it allows organizations to keep the data related to confidential work in a secure manner and to improve interaction & communication by using real-time messaging system. However, the services segment is estimated to manifest the fastest CAGR of 16.2% from 2020 to 2027, owing to increase in adoption of private LTE among various industries.
Based on technology, the FDD segment accounted for the highest share in 2019, holding around three-fifths of the global private LTE market, and is projected to maintain its lead position during the forecast period. The implementation of Private LTE is helping businesses of large enterprises to change the way of network and connection owing to its flexibility in choosing uplink to downlink data rate ratios, ability to implement in non-paired spectrum, ability to exploit channel reciprocity and less complex trance receiver design. This drive the growth of the segment. However, the TDD segment is expected to witness the highest CAGR of 15.2 % from 2020 to 2027, owing to growing focus on low cost hardware required for installation and maintenance.
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Based on component type, the infrastructure segment contributed to the highest market share, accounting for nearly two-thirds of the global private LTE market in 2019, and will maintain its leadership status throughout the forecast period. This is because it allows organizations to keep the data related to confidential work in a secure manner and to improve interaction & communication by using real-time messaging system. However, the services segment is estimated to manifest the fastest CAGR of 16.2% from 2020 to 2027, owing to increase in adoption of private LTE among various industries.
The FDD segment to maintain its lead position during the forecast period
Based on technology, the FDD segment accounted for the highest share in 2019, holding around three-fifths of the global private LTE market, and is projected to maintain its lead position during the forecast period. The implementation of Private LTE is helping businesses of large enterprises to change the way of network and connection owing to its flexibility in choosing uplink to downlink data rate ratios, ability to implement in non-paired spectrum, ability to exploit channel reciprocity and less complex trance receiver design. This drive the growth of the segment. However, the TDD segment is expected to witness the highest CAGR of 15.2 % from 2020 to 2027, owing to growing focus on low cost hardware required for installation and maintenance.
The key private LTE industry players profiled in the report are AT&T, Verizon Communications Inc, Deutsche Telekom, Vodafone Group, Telefonica, Nokia, Ericsson, Huawei technologies Co. LTD, ZTE Corporation, Cisco Corporation. This study includes market trends, Private LTE market analysis, and future estimations to determine the imminent investment pockets.
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Covid-19 Scenario
● The outbreak of the pandemic led the industry to incorporate work from home (WFH) system and digitalize their businesses, which in turn has increased the emergence of private LTE.
● Conversely, the outbreak of the pandemic hampered the manufacturing unit thereby impacting the maintenance of private LTE stations and micro towers .This, in turn, has significantly impacted the market.
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Lastly, this report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.
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