Expandable and improved bandwidth, growing demand from industries, IoT applications, robotics and Machine learning, as well as the increasing demand from government sectors due its wide range of benefits are some the factors to lead the market growth.
JERSEY CITY, N.J., April 6, 2022 /PRNewswire/ -- Verified Market Research recently published a report, "Private LTE Market" By Technology (Frequency Division Duplex (FDD), Time Division Duplex (TDD)), By Application (Asset Management, Public Safety), By Industry (Mining, Energy And Utilities), and By Geography. According to Verified Market Research, the Global Private LTE Market size was valued at USD 6 Billion in 2020 and is projected to reach USD 9 Billion by 2028, growing at a CAGR of 4.4% from 2021 to 2028.
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Browse in-depth TOC on "Private LTE Market"
202 - Pages
126 – Tables
37 – Figures
Global Private LTE Market Overview
With the increasing demand for expandable and improved bandwidth to improve the rate of speed is the primary factor driving the market growth. In addition, the growing utilization of devices and applications creates a critical need for network monitoring services. Moreover, the rising implication of smart and robotic machines in the manufacturing industry led to imposing a positive factor in market expansion. However, the issues related to the interoperability and high cost associated with the deployment are the factors hindering the market growth.
One of the drivers is the availability of unlicensed spectrums such as CBRS and MulteFire bands. Enterprises use licensed and unlicensed spectrums for the deployment of private LTE networks globally. Vendors have developed chipsets, infrastructure components, and Customer Premises Equipment (CPE) to enable the private LTE networks to run in two unlicensed frequency bands is 5 GHz and 3.5 GHz. In the United States, the 3.5 GHz is a part of the Citizens Broadband Radio Service (CBRS) band, and MulteFire functions in a 5 GHz band across the globe. The availability of unlicensed bands makes the way for enterprises to deploy private LTE networks quickly without the intervention of Mobile Network Operators (MNOs), who own these license spectrum bands.
The commercial spectrum allocation for the implementation of private LTE comes with a unique three-tier sharing system. The bid-winning user gains top-level service through the tier 2 Priority Access License (PAL). This license is issued on a geographic basis. Satellite operations and the US navy radar can use the first tier of the network with adjustable geographic limitations based on azimuth and beam. Other enterprises can deploy the third tier, open access, and non-prioritized band of the network. The lowest-tier Unlicensed General Authorized Access (GAA) users can use any portion of the 3.5 GHz band, which is not assigned to higher tier users.
- On June 2020, Nokia is expected to deploy a 5G private wireless network, in the Toyota manufacturing design centre, Japan.
- On April 2020, Nokia partnered with Bharti Airtel to deploy private LTE solutions.
- On June 2020, Ericsson announced the general availability of Standalone (SA) 5G new radio software with cloud infrastructure edge services.
The major players in the market are NEC Corporation, Samsung, Huawei Technologies Co., Ltd., Nokia, Ericsson, Comba Telecom, Cisco, Sierra Wireless, Verizon, and Arris International, plc.
Verified Market Research has segmented the Global Private LTE Market On the basis of Technology, Application, Industry, and Geography.
- Private LTE Market, By Technology
- Frequency Division Duplex (FDD)
- Time Division Duplex (TDD)
- Private LTE Market, By Application
- Asset Management
- Logistics and Supply Chain Management
- Public Safety
- Private LTE Market, By Industry
- Energy & Utilities
- Private LTE Market by Geography
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East & Africa
- Latin America
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