Private LTE Market Size, Share, Growth Analysis, By Deployment (On-Premise and Cloud-Based), By Frequency band (Licensed, Unlicensed), By Application (Manufacturing, and Energy and Utilities), By Region - Industry Forecast 2024-2031

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.