USD 5.7 Billion
Private LTE Market Size, Share, Growth Analysis, By Component(Infrastructure [RAN, Mobile core network, Backhaul], Services [Consulting), By Technology(Frequency Division Duplex (FDD), Time Division Duplex (TDD)), By Deployment Model(Centralized, Distributed), By Frequency band(Licensed, Unlicensed, Shared Spectrum), By End user(Utilities [Energy, Water and Gas], Mining [Surface Mining, Underground Mining]), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG50C2014 |
Region:
Global |
Published Date: August, 2024
Pages:
177
|Tables:
60
|Figures:
75
Private LTE Market Insights
Global Private LTE Market size was valued at USD 5.2 Billion in 2022 and is poised to grow from USD 5.7 Billion in 2023 to USD 11.87 Billion by 2031, at a CAGR of 9.60% during the forecast period (2024-2031).
The expansion of the global private LTE market is driven by increasing adoption of private LTE for Internet of Things (IoT) and smart city applications. Industries such as energy, manufacturing, public safety, and transportation are progressively utilizing IoT applications, leading to the need for deploying private network infrastructures. Moreover, the market growth is fueled by the demand for private networks in various use cases, including Automated Guided Vehicles (AGV), collaborative robots/cloud robots, industrial sensors, and heavy machinery automation. The rise in smart city development in the United States has further boosted the deployment of IoT devices for applications like transport, public safety, security, and energy management. Consequently, there is an expected increase in demand for private networks in the U.S. as businesses heavily rely on the IoT ecosystem. Private LTE networks can operate on three frequency spectrum categories: licensed, unlicensed, and shared. Initially, private LTE networks in the U.S. utilized the unlicensed spectrum at 5 GHz (MulteFire) and the 3.5 GHz spectrum in the Citizens Broadband Radio Service (CBRS) band. The advent of industry 4.0 has led industrial players to prioritize the deployment of high-speed networks to ensure uninterrupted connectivity for various industrial applications, including machine-to-machine (M2M) communication, AGV, collaborative robots, and Ultra-High-Speed (UHD) wireless cameras. Industries such as manufacturing, energy, and utilities are witnessing significant adoption of the Industrial Internet of Things (IIoT), which is a crucial aspect of the industry 4.0 revolution. Companies in these sectors heavily rely on private networks to provide secure and unified connectivity for their mission-critical applications. While there is a strong demand for private LTE networks from automotive, manufacturing, and logistics companies, smaller businesses face challenges in adopting such networks. Companies in rural areas and low-income markets encounter difficulties due to financial constraints and the availability of alternative networks. The substantial capital investments required to establish a reliable private connectivity infrastructure pose a significant hurdle for small- and medium-scale businesses.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
On-Premise
Fastest Growth
Cloud-Based
Growth Rate
9.60% CAGR
Global Private LTE Market ($ Bn)
Country Share for North America Region (%)
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Private LTE Market Segmental Analysis
The Global Private LTE market is segmented by technology, component, deployment, frequency band, End user, and region. Based on Technology, the market can be segmented into FDD and TDD. Based on component, the market is segmented into Infrastructure [RAN, Mobile core network, Backhaul], and Services [Consulting, Integration and deployment, support and Maintenance, and manged services]. Based on deployment, the market is segmented into centralized, and distributed. Based on frequency band, the market is segmented into licensed, unlicensed, and shared spectrum. Based on end user, the market is segmented into Utilities [Energy, Water and Gas], Mining [Surface Mining, Underground Mining], Oil&Gas [Onshore, Offshore], Manufacturing [Discrete Manufacturing, Process Manufacturing], Transportation and logistics [Airways, Railways, Maritime, Logistics], Government and Public safety [Government and Public Safety, Military and Intelligence Agencies], Healthcare [Hospitals And Clinics, Diagnostics Imaging Center And Laboratories], and Others. Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Private LTE Market Analysis by Deployment
By deployment, the market can be segmented into on-premise and cloud-based. The On-Premise deployment segment dominated the market due to its high level of control and security. On-Premise deployments offer organizations complete control over their private LTE network and data, ensuring maximum security and compliance with regulatory requirements. As a result, several organizations in industries such as public safety, energy and utilities, and manufacturing, which require strict security measures, continue to rely on On-Premise deployments.
The Cloud-Based deployment segment is expected to grow at a faster rate due to its scalability, flexibility, and lower infrastructure costs. Cloud-Based deployments are becoming increasingly popular among small and medium-sized enterprises (SMEs) and startups, who are looking for cost-effective alternatives to On-Premise deployments. Additionally, the rise of the Internet of Things (IoT) and the need for real-time data processing and analysis is driving the adoption of Cloud-Based deployments.
Private LTE Market Analysis by Application
By application the market can be segmented into manufacturing, and energy and utilities. The Manufacturing sector dominated the market for private LTE deployments. Manufacturing companies are increasingly adopting private LTE networks to streamline their operations, improve efficiency, and enable advanced automation. Private LTE networks provide reliable and secure connectivity across the manufacturing floor, facilitating real-time monitoring of production processes, machine-to-machine communication, and seamless integration of robotics and IoT devices. The Manufacturing sector's dominance in the private LTE market is driven by the industry's emphasis on digital transformation and the implementation of Industry 4.0 initiatives.
The Energy and Utilities sector is experiencing rapid growth and is poised to be the fastest-growing segment in the private LTE market. Energy and utilities companies are leveraging private LTE networks to optimize their operations, enhance grid management, and improve worker safety. Private LTE enables real-time monitoring of energy infrastructure, remote asset management, and efficient distribution of energy resources. With the growing demand for smart grids, renewable energy integration, and predictive maintenance, the Energy and Utilities sector is witnessing a significant increase in the adoption of private LTE networks.
Global Private LTE Market Size By Technology (%)
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Private LTE Market Regional Insights
North America dominated the global private LTE market. This can be attributed to the rapid adoption of private LTE networks for various applications in industries such as manufacturing, automotive, logistics, and public safety. The United States, in particular, is a key contributor to the market growth in this region. The country has witnessed a surge in the deployment of private networks due to the growing pace of building smart cities and the extensive utilization of IoT devices. The demand for private networks is expected to increase further as businesses in the U.S. heavily rely on the IoT ecosystem. Additionally, the availability of licensed and unlicensed frequency spectrums, such as MulteFire and CBRS, has facilitated the widespread adoption of private LTE networks in North America.
The APAC region is experiencing significant growth in the private LTE market and is considered one of the fastest-growing regions globally. Countries like China, Japan, South Korea, and India are driving the market expansion in APAC. The increasing industrialization, rapid urbanization, and the adoption of Industry 4.0 technologies are key factors contributing to the growth of private LTE networks in this region. Industries such as manufacturing, energy, and utilities are witnessing high adoption of private networks to support their mission-critical applications in the Industrial Internet of Things (IIoT) ecosystem. Moreover, the demand for private LTE is driven by the need for high-speed, reliable connectivity in sectors like transportation, logistics, and public safety. As APAC countries continue to invest in smart city initiatives and digital transformation, the demand for private LTE networks is expected to witness substantial growth.
Global Private LTE Market By Geography
- Largest
- Fastest
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Private LTE Market Dynamics
Global Private LTE Market Drivers
Increasing adoption of Industry 4.0 technologies
- One of the key drivers for the global private LTE market is the increasing adoption of Industry 4.0 technologies, which require high-speed, reliable connectivity for mission-critical applications in industries such as manufacturing, energy, and utilities. Private LTE networks provide unified and secure connectivity for machine-to-machine (M2M) communication, Automated Guided Vehicles (AGV), industrial sensors, and heavy machinery automation, among others. As more companies embrace Industry 4.0 and digital transformation, the demand for private LTE networks is expected to increase, driving the growth of the market.
Global Private LTE Market Restraints
Significant capital investment
- One of the key restraints for the global private LTE market is the significant capital investment required to build a dependable private network infrastructure. This poses a challenge, particularly for small- and medium-sized businesses, as they may struggle to meet the financial requirements. Additionally, companies operating in outskirts areas and low-income markets may face difficulties in adopting private networks due to limited financial resources and alternative network availability. The substantial upfront costs associated with establishing private LTE networks can hinder the steady growth of the market.
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Private LTE Market Competitive Landscape
The global private LTE market is characterized by intense competition among a diverse range of market players. Companies operating in this market are focused on strategic partnerships, collaborations, and mergers to expand their market presence and enhance their product offerings. Additionally, continuous investments in research and development activities are undertaken to innovate and develop advanced private LTE solutions. Moreover, market players are actively engaged in expanding their customer base and geographical reach by targeting various industries such as manufacturing, energy, utilities, transportation, and public safety.
Top Player’s Company Profiles in Private LTE Market
- Ericsson (Sweden)
- Nokia (Finland)
- Huawei Technologies Co., Ltd. (China)
- Samsung Electronics Co., Ltd. (South Korea)
- Cisco Systems, Inc. (US)
- Motorola Solutions, Inc. (US)
- NEC Corporation (Japan)
- ZTE Corporation (China)
- Verizon Communications Inc. (US)
- AT&T Inc. (US)
- KT Corporation (South Korea)
- Telstra Corporation Limited (Australia)
- Huawei Technologies Co., Ltd. (China)
- Fujitsu Limited (Japan)
- CommScope Holding Company, Inc. (US)
- Mavenir (US)
- General Dynamics Corporation (US)
- Harris Corporation (US)
- Thales Group (France)
- SoftBank Group Corp. (Japan)
Global Private LTE Market Recent Developments
- In April 2023, Nokia announced a new private LTE solution for the mining industry, providing reliable and secure connectivity to remote mining sites.
- In March 2023, Siemens acquired Industrial Communication Technologies (ICOM), a provider of private LTE solutions for the manufacturing industry, to enhance its industrial networking offerings.
- In January 2023, Verizon announced a new partnership with Microsoft to develop private LTE networks for the manufacturing industry, supporting digital transformation initiatives and enabling advanced automation.
- In August 2022, Cisco announced a new private LTE solution for the transportation industry, enabling real-time tracking and communication for vehicle fleets.
- In June 2022, Honeywell launched a new private LTE network solution for the oil and gas industry, providing reliable and secure connectivity to remote drilling sites.
Private LTE Key Market Trends
- One key market trend in the global private LTE market is the increasing adoption of network slicing technology. Network slicing allows operators to create virtual network instances tailored to specific applications or user requirements within a single physical infrastructure. This enables efficient resource allocation, improved network performance, and enhanced security. Network slicing enables businesses to meet the diverse connectivity needs of different IoT applications, smart city services, and industrial automation systems. The implementation of network slicing is expected to drive the growth of private LTE networks and enable the provision of customized, reliable connectivity solutions.
Private LTE Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our global private LTE market analysis, the adoption of private LTE for IoT and smart city applications, along with the increasing pace of building smart cities, is fueling the market expansion. Industries such as energy, manufacturing, public safety, and transportation are deploying private LTE networks to support their mission-critical applications and leverage the benefits of Industry 4.0 technologies. North America dominated the market, driven by the extensive utilization of IoT devices and the availability of licensed and unlicensed frequency spectrums. Meanwhile, APAC is emerging as one of the fastest-growing regions, fueled by industrialization, urbanization, and the adoption of Industry 4.0. However, the market faces challenges, including the significant capital investment required and the limited adoption by small- and medium-sized businesses. Network slicing technology is a key trend, allowing operators to provide customized connectivity solutions for diverse applications, further driving the growth of private LTE networks.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 5.2 Billion |
| Market size value in 2031 | USD 11.87 Billion |
| Growth Rate | 9.60% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Private LTE Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Private LTE Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Private LTE Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Private LTE Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Private LTE Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Private LTE Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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