Private LTE Market Size to Reach USD 10.78 Billion in 2028 | Increasing Demand for High-Speed and Secure Wireless Networks is a Key Factors Driving Industry Demand, according to Emergen Research
VANCOUVER, BC, Dec. 9, 2021 /PRNewswire/ -- The global private LTE market size is expected to reach USD 10.78 Billion at a revenue CAGR of 12.8% in 2028, according to latest analysis by Emergen Research. Steady global private Long-Term Evolution market revenue growth can be attributed to rising demand for secure wireless network connectivity. Private LTE network provides the benefit of keeping data safe through on-premises corporate firewall, thereby delivering a higher security standard. Private LTE network is particularly appropriate for Internet of Things (IoT) on the move, due to its ability to provide uninterrupted handoffs to other networks while roaming beyond reach of onsite access points and still deliver similar levels of enhanced security.
Surging demand for more scalable and enhanced bandwidth to increase network speed is a key factor propelling private LTE market revenue growth. Increasing penetration of smart devices, such as smartphones and presence of an immense number of apps lead to an indispensable need for secure networks in several enterprises. Also, emergence of Industry 4.0 is boosting demand for private LTE networks in the manufacturing industry owing to increase in investments in automation and Machine to Machine (M2M) communication that are vital to increase economies of scale.
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Some Key Highlights From the Report
Emergen Research has segmented the global private LTE market on the basis of offering, technology, mode of deployment, spectrum, application, and region:
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