Private LTE Market Size, Growth, Analysis - Forecasts to 2026
Private LTE Market Insights
The global private LTE market was estimated to generate revenue of USD 653.7 million in 2018, and is expected to reach USD 10,717.4 million by 2026. The market is expected to grow at an exponential CAGR of 41.85% during the forecast period. The primary factors driving the market are the growing applications of private LTE across verticals such as healthcare, mining, oil & gas, manufacturing, transportation and military among others. Factors such as need for accuracy, efficiency and enhanced security by enterprises and Governments along with steady rise in investments in the sector are some factors sure to have a positive impact on growth in the market. Further, increasing innovation in private LTE services and rising deployment of the network in business operations is likely to further boost the market.
Private LTE Market: By Product Type
On the basis of product type, the private LTE market can be segmented into LTE-TDD and LTE-FDD. The LTE-FDD segment is expected to hold the largest market share in terms of revenue. This high market share can be attributed to extensive use of LTE-FDD in traditional cellular voice and data services. However, the LTE-TDD segment is projected to register the highest CAGR during the forecast period. Factors such as lower use of spectrum and low deployment cost are some factors contributing to high growth rate of the segment.
Private LTE Market: By Industry Vertical
The private LTE market can be segmented into transportation, military & defense, manufacturing & industrial, oil & gas, mining, electrical utilities and healthcare based on the industry vertical. The mining segment is expected to hold the largest market share in terms of revenue with estimated revenue. This growth can be attributed to growing potential for private LTE deployment in remote areas where connectivity and communication is crucial. The military and defense applications of private LTE are estimated to hold the second largest market share in terms of revenue.
Private LTE Market: Regional Insights
North America is expected to dominate the market for private LTE during the forecast period with the U.S. accounting for its major share. The North American market is driven by rise in deployment of private LTE among small and medium sized enterprises and rising technological advancement. Asia Pacific is estimated to be the fastest growing market with a high CAGR during the coming years. Investment opportunities in countries such as India and China along with growing applications of private LTE are some factors driving growth in the market.
Private LTE Market: Vendor Landscape
The report contains a chapter dedicated to vendors operating in the market, covering raw material manufactures, equipment developers, manufacturers, and distributors. The report provides these insights on a regional level. This section of the report entails contact details, experience, products manufactured/supplied, and geographical presence of companies.
Private LTE Market: Share & Competitor Analysis
Some of the key players operating in the Private LTE markets are Ericsson, Redline Communications, Nokia, Qualcomm, Air-Lynx, Telrad Networks, Huawei Enterprises, PDV Wireless and Ruckus Wireless among others.
Please note: This is not an exhaustive list of companies profiled in the report.
In October 2018, Redline Communications announced updates to its Private LTE critical communications product portfolio.
In October 2018, Telrad Networks announced the launch of their new 5GHz unlicensed band LTE Solutions and successful trial of the product by White Cloud Networks, the company is engaged in providing wireless network service (WISP).
In August 2018, Baylin Technologies announced that its subsidiary Advantech Wireless Technologies has released its new product L-Band to 720 MHz SATCOM synthesized frequency converters.
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The global Private LTE Market has been studied from the year 2017 till 2026. However, the CAGR provided in the report is from the year 2018 to 2026. The research methodology involved three stages: Desk research, Primary research, and Analysis & Output from the entire research process.
The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply side analysis for the Private LTE Market.
The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, distributors, and end-use product manufacturers.
Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, market share analysis, SWOT analysis of the company’s manufacturing Private LTE, and customer analytics.
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