Global Private LTE Market

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 2025-2032


Report ID: SQMIG50C2014 | Region: Global | Published Date: August, 2024
Pages: 177 | Tables: 60 | Figures: 75

Private LTE Market Insights

Private LTE Market size was valued at USD 5.7 Billion in 2023 and is poised to grow from USD 6.25 Billion in 2024 to USD 13.01 Billion by 2032, growing at a CAGR of 9.60% during the forecast period (2025-2032).

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.

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FAQs

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 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. '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) '

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.

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.

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.

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Global Private LTE Market

Report ID: SQMIG50C2014

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