Private LTE & 5G Network Market Acts as Key Enabler of Industrial IoT Networks, Market to Clock a Robust CAGR of ~49% during 2020 - 2030 - TMR

- End-use industries leverage private LTE & 5G networks to set off a new wave of industrial automation, while non-industrial environments are anticipated to see rapid adoption in a bid to meet QoS and speed requirements

- AI-driven applications fueled by 5G emerge as promising use cases in private LTE & 5G network market

ALBANY, N.Y., Nov. 9, 2020 /PRNewswire/ -- Interest in private LTE & 5G networks deployment has surged in recent years, especially among enterprise markets. The trend has gathered force in order to meet AI-driven automation. In non-industrial backgrounds, players in the private LTE & 5G networks market are expected to target users with benefits of meeting high quality of service (QoS) and speed requirements. The focus of governments in numerous economies to advance 5G network ecosystem to fuel next wave of industrial automation in the manufacturing environments.

Swelling investments will help propel the market to expand at CAGR of ~49% during 2020 – 2030. New avenues, contend analysts, will rise on back of increasing interest in AI-driven applications and industrial IoT. The global valuation of the market is projected to reach worth of US$ 17.7 Bn by 2030-end.

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Key Findings of LTE & 5G Network Market Report

• Of all the verticals, industrial is a promising segment in the LTE and 5G network market
• Non-industrial sectors also witnessing substantial lucrative avenues for stakeholders
• Geographically, North America held the major share in the global market
• The opportunities in the Asia Pacific market are expected to expand at promising CAGR during forecast period

Explore 554 pages of top-notch research, incisive insights, and detailed country-level projections on Private LTE & 5G Network Market (Type: Private LTE and 5G; Application: Real-time Surveillance, Operations Visibility & Optimization, Authentication & Access Control, Worker Safety Monitoring, Remote Diagnostics & Predictive Maintenance, and Asset Management; and Vertical: Industrial Manufacturing, Utilities & Electrical Power, Public Venues, Healthcare, Supply Chain, and Natural Resources) – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020-2030 at https://www.transparencymarketresearch.com/private-lte-5g-network-market.html

LTE & 5G Network Market: Key Driving Factors and Promising Avenues

• Rise in internet penetration, coupled with vast reduction of cost of data use, is a key trend boosting the evolution of LTE and 5G network market
• Manufacturing sites and distribution centers are increasingly looking to harness the capabilities of private network. The key benefits are that the network helps them meet the customized end-user demands and adhere to high QoS and speed requirements.
• Adoption of wireless infrastructure that can integrate on-device processing, 5G, and edge cloud at multiple endpoints has also bolstered the growth avenues in the market.
• Warehouses and factories are increasingly leaning on migrating to private network in order to set the framework of industrial-grade IoT. Companies are increasing testing the capabilities of the private network and prefer them over commercial networks in order to offer advanced mobility solutions in industrial IoT ecosystem.
• Proliferation of sensors and actuators in the IoT for enterprise as well as for consumer applications is spurring telecom companies to put their stake in LTE and 5G network market.
• Efforts made by governments in numerous countries to advance network connectivity are boosting the adoption rate in industrial consumers. To this end, they are extending support to deploy 5G spectrum. Countries at the forefront of this trend are the U.S., Japan, China, India, and Germany.

Analyze global private LTE and 5G network market growth in 30+ countries including US, Canada, Germany, United Kingdom, France, Italy, Russia, Poland, Benelux, Nordic, China, Japan, India, and South Korea. Request a sample of the study

LTE & 5G Network Market: Competitive Assessment

A number of players are keen on testing 5G deployments and have ramped up investments in setting and advancing 5G networks. These industry developments increasingly bolstering the prospects of these networks for OEMs engaged in offering solutions related to edge computing and data centers. Service providers and companies offering telecom solutions are raising awareness of the benefits of private LTE and 5G network deployment to strengthen their business propositions.

Some of the players aspiring for high stakes in the market are ZTE Corporation, Samsung Electronics, Intel, National Instruments, Huawei Technologies, and Nokia.

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LTE & 5G Network Market: Regional Landscape

Regionally, North America has been promising regional market, and it held the major share in 2019. The growth has been fueled by rise in business propositions of private network over commercial network for supporting industry-grade IoT networks. In the regional market, the U.S. is expected to see rapid growth of opportunities during 2020 – 2030.

On the other hand, strides being made in AI and IoT deployments in the key economies of Asia Pacific has cemented the potential of the regional market during the assessment period. Rise in investments in implementing the new 5G is also spurring the growth prospect.

Global Private LTE & 5G Network Market: Segmentation

Private LTE & 5G Network Market, by Type

• Private LTE
• Infrastructure
• Device
• 5G
• Infrastructure
• Device

Private LTE & 5G Network Market, by Application

• Real-time Surveillance
• Operations Visibility & Optimization
• Authentication & Access Control
• Worker Safety Monitoring
• Remote Diagnostics & Predictive Maintenance
• Asset Management

Private LTE & 5G Network Market, by Vertical

• Industrial Manufacturing
• Discrete Manufacturing
• Process Industries
• Utilities & Electrical Power
• Power Generation
• Power Transmission & Distribution
• Water Utilities
• Public Venues
• Transport Venues
• Military Bases
• Maritime Ports
• Healthcare
• Supply Chain
• Natural Resources
• Mining
• Oil & Gas

Private LTE & 5G Network Market, by Region

• North America
• U.S.
• Canada
• Rest of North America
• Europe
• Germany
• U.K.
• France
• Spain
• Italy
• Netherlands
• Finland
• Austria
• Switzerland
• Estonia
• Sweden
• Norway
• Russia
• Belgium
• Rest of Europe
• Asia Pacific (APAC)
• China
• India
• Japan
• Australia
• Indonesia
• South Korea
• Singapore
• Rest of Asia Pacific
• Middle East & Africa (MEA)
• GCC Countries
• South Africa
• Rest of Middle East & Africa
• South America
• Brazil
• Rest of South America

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