Global Private LTE Market to Reach $9.3 Billion by 2027
DUBLIN, Aug. 19, 2022 /PRNewswire/ -- The "Private LTE Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027" report has been added to ResearchAndMarkets.com's offering.
The global private LTE market reached a value of US$ 4.4 Billion in 2021. Looking forward, the publisher expects the market to reach US$ 9.3 Billion by 2027, exhibiting a CAGR of 12.90% during 2022-2027. Keeping in mind the uncertainties of COVID-19, they are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor
Significant growth in the telecommunication industry across the globe is one of the key factors creating a positive outlook for the market. Private LTE provides improved bandwidth and data transfer speeds that prevent unstable internet connections during video and audio calls.
Additionally, the widespread product utilization in smartphones and smart home devices, such as security alarms, connected city streetlights, smart waste management and wearable fitess and health trackers, is favouring the market growth. Moreover, various technological advancements, such as the integration of communication systems with artificial intelligence (AI) and the Internet of Things (IoT) solutions to provide seamless connectivity, enhanced security, outdoor coverage, and low latency, are providing a thrust to the market growth.
These technologies analyse, optimize, and improve the data and maintain the confidentiality of sensitive information within the network. Other factors, including the increasing demand for wireless networks across organizations, along with the widespread product adoption in the medical industry for improved communications between healthcare systems, are anticipated to drive the market toward growth
The publisher provides an analysis of the key trends in each sub-segment of the global private LTE market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on component, technology, frequency band, deployment model and industry vertical
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For more information about this report visit https://www.researchandmarkets.com/r/vwtquq
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