Global Private LTE Market to Reach $8.3 Billion by 2027: Open Networking Model and Infusion of Cloud and Virtualization Drives Growth

DUBLIN, March 21, 2023 /PRNewswire/ -- The "Global Private LTE Market by Component (Infrastructure and Services), Technology (FDD and TDD), Deployment Model (Centralized and Distributed), Frequency Band (Licensed, Unlicensed, and Shared Spectrum), End User and Region - Forecast to 2027" report has been added to  ResearchAndMarkets.com's offering.

The global private LTE market size is projected to grow from USD 5.0 billion in 2022 to USD 8.3 billion by 2027, at a Compound Annual Growth Rate (CAGR) of 10.6% during the forecast period.

Major factors such as the need for unique and defined network quality are expected to drive the growth of the global private LTE market. However, the fragmented spectrum may limit the market growth.

Mobile Core Network segment to grow at a higher CAGR during the forecast period

A mobile core network is an important element of the private LTE infrastructure. It has a complex architecture on the enterprise's data centers, the edge, or the cloud. In the network-in-box concept, this network is a part of eNodeB. EPC is a familiar name in the mobile core network.

Currently, virtualized EPC has been pervasive across enterprises. All the greenfield deployment of private LTE networks has witnessed the implementation of cloud-based driving the segment

Unlicensed segment to grow at the highest CAGR during the forecast period

3GPP has industrialized a new approach with LTE License Assisted Access (LAA) to enable access to LTE-U in the 5GHz Industrial, Scientific, and Medical (ISM) band. Globally, a substantial amount of unlicensed spectrum available in the ISM band can be used across a wide range of applications.

Enterprises can design, develop, and operate private LTE networks in unlicensed bands. For instance, MulteFire, with its unlicensed band, provides optimum network coverage, improves network capacity, offers seamless mobility, and increases QoS.

Apart from enterprises, telecom operators can also use unlicensed bands with carrie aggregation technology to extend their network coverage. Unlicensed bands have opened up several opportunities for enterprises, ISPs, CSPs, MSPs, MNOs, and cable operators by acting as a neutral host to support multiple business use cases.

North America region to record the highest market share in the Private LTE market in 2022

North America is expected to have the largest share in the overall private LTE market. The growth is attributed to the rising deployments of own high-speed private networks to optimize the security of business applications. The US holds a major portion of the adoption of private LTE in this region.

Also, the expansive demand for critical business applications with security, upgradeability, and scalability requirements is fueling the market growth.

Market Dynamics

Drivers

• Availability of Unlicensed Spectrums: Cbrs and Multefire Bands
• Open Networking Model and Infusion of Cloud and Virtualization
• Dedicated Network with Higher Security, Privacy, and Control
• Need for Unique and Defined Network Qualities
• Digital Transformation Initiatives in Businesses to Pave Way for Advanced Wireless Networks

Restraints

• Frequency Bands Interference

Opportunities

• Emergence of Industrial and Commercial Iot
• Convergence of 5G and Private Lte
• Upsurge in Business Use Cases Across Manufacturing, Oil and Gas, Mining, and Government Sectors
• Rising Adoption of Mobile Robotics and Ml

Challenges

• High Initial Cost of Deploying Network Infrastructure
• Long-Term Investments in Leasing Licensed Frequency Bands

Case Study Analysis

Energy

• Nokia and Elektro
• Oil and Gas
• Cisco and Beach Energy

Mining

• Challenge Network and Gold Fields
• Ericsson and Ambra Solutions
• Nokia and Minera Las Bambas
• Athonet and Smartfren

Smart Ports

• Nokia

Government

• Parallel Wireless and UK Emergency Services Network

Manufacturing

• Nokia and Airtel

Companies Mentioned

• Accelleran
• Affirmed Networks (Microsoft)
• Airspan
• Altiostar
• Amarisoft
• Ambra Solutions
• Asocs
• Athonet
• Aviat Networks
• Baicells Technologies
• Boingo Wireless
• Casa Systems
• Celona
• Cisco
• Comba
• Commscope
• Cradlepoint
• Druid Software
• Ericsson
• Extenet Systems
• Fujitsu
• Future Technologies
• Geoverse
• Huawei
• Iplook
• Ji Technology
• Jma Wireless
• Lemko
• Mavenir
• Nec
• Netnumber
• Nokia
• Parallel Wireless
• Phluido
• Quortus
• Samsung
• Sierra Wireless
• Star Solutions
• Tecore
• Telrad Networks
• Ursys
• Verizon
• Wireless Excellence (Cablefree)
• ZTE

For more information about this report visit https://www.researchandmarkets.com/r/2c8qb3

About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

Media Contact:

Research and Markets
Laura Wood, Senior Manager
[email protected]   

For E.S.T Office Hours Call +1-917-300-0470 
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900

U.S. Fax: 646-607-1904
Fax (outside U.S.): +353-1-481-1716 

Logo:  https://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg 

View original content:https://www.prnewswire.com/news-releases/global-private-lte-market-to-reach-8-3-billion-by-2027-open-networking-model-and-infusion-of-cloud-and-virtualization-drives-growth-301777598.html

SOURCE Research and Markets

[ Back To TMCnet.com's Homepage ]