Private LTE Market Size To Reach USD 10.77 Billion In 2028 | Rising Demand For High-Speed And Secured Wireless Network Is Driving Private LTE (Long-Term Evolution) Market Revenue Growth, Says Reports and Data
NEW YORK, March 10, 2022 /PRNewswire/ -- The global private LTE market size is expected to reach USD 10.77 Billion in 2028 and register a revenue CAGR of 12.8% over the forecast period, according to the latest report by Reports and Data. Revenue growth of private LTE market is expected to be due to rising demand for secure and faster network globally.
Various advantages of private LTE include low latency, high speed, improved security, consistent performance, expended range, and interoperability, and it is also economical as it has low deployment costs. Private LTE uses digital protocols and security technology, similar to cellular network's security protocols followed currently, and can be easily updated when required. Private LTE networks can be controlled through SIM card-based credentials, and all the data is stored on a local network, which makes the data secure from any cyber-attack. As private LTE networks rely on same technology as commercial networks, companies can take advantages of technological advancements as and when these are developed such as latest LTE features or an upgrade to 5G technology.
Private LTE scales to meet organization needs and can easily accommodate low- and high- rate of data, Internet of Things (IoT), and machine-to-machine systems, etc. Additionally, demand for high-speed and strong network is increasing in parallel with growing adoption of autonomous facilities such as driverless cars and robots. 5G is expected to take over 4G in the near future, LTE is also taking over Wi-Fi. Billions of devices are generating small amounts of data, and with this, congestion-less connections have become inevitable, which is creating a robust demand for private LTE.
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However, Denial of Service (DoS) in private LTE can hamper market revenue growth. DoS attacks a device that denies connectivity or access to specific connected service. As companies are deploying 5G networks to improve performance of connected devices, a DoS attack can harm perfectly organized process, and can shut down the entire facility, resulting in heavy financial losses. Nevertheless, focus and investments of major players on development of security systems to protect private LTE from DOS can offer revenue opportunities for major players operating in the global market.
Some Key Highlights from the Report
- In January 2021, Communication Technology Services (CTS), a portfolio company of Astra Capital Management, acquired Florida-based ClearSky Technologies. ClearSky offers managed services, which help in planning, deploying, and managing wireless communications. The acquisition will help CTS with effective deployment of private LTE and 5G networks. ClearSky can also help in carrier networks deployment, which are deployed in tunnels and other underground structures to improve coverage.
- Time division duplex segment revenue is expected to grow at a rapid rate during the forecast period. It is beneficial to operators as it allows efficient usage of spectrum and can be deployed for resource requirements on the basis of service and application quality. Time division duplex can also be used for unpaired spectrum set-ups that requires asymmetric data rates.
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- Energy and utilities segment accounted for a significantly large revenue share in 2020. These firms require reliable, secure, and flexible network connectivity to achieve grid modernization and digitalization goals. Such initiatives require fast and secure connectivity to achieve their goals, thus creating significant demand for private LTE networks. Automation of grids can result in breach of data and cyberattacks, which is also driving the adoption of private LTE in the segment.
- Revenue from Asia Pacific market is expected to grow at a rapid rate during the forecast period due to rising demand for private LTE in China, Japan, South Korea, Singapore, and Australia. Moreover, increased demand for automation in manufacturing sector is contributing to market revenue growth.
- Major companies profiled in the global market report include Nokia Corporation, Ericsson, Huawei Technologies Co., Ltd., NEC Corporation, Verizon, Cisco Systems, Samsung Electronics, Luminate Wireless, Inc., Future Technologies, and Redline Communications.
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For the purpose of this report, Reports and Data has segmented the global private LTE market based on technology, component, deployment model, end-use, and region:
- Technology Outlook (Revenue, USD Billion; 2018–2028)
- Frequency Division Duplex
- Time Division Duplex
- Component Outlook (Revenue, USD Billion; 2018–2028)
- Services
- Consulting
- Integration and Deployment
- Support and Maintenance
- Managed Services
- Infrastructure
- RAN
- Mobile Core Network
- Backhaul
- Deployment Model Outlook (Revenue, USD Billion; 2018–2028)
- Centralized
- Distributed
- End Use Outlook (Revenue, USD Billion; 2018–2028)
- Mining
- Energy And Utilities
- Manufacturing
- Transportation
- Defense
- Healthcare
- Government and Public Safety
- Oil and Gas
- Others
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- Regional Outlook (Revenue, USD Billion; 2018–2028)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Sweden
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Israel
- Rest Of MEA
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About Reports and Data
Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients to make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Products, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
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