Dublin, June 01, 2021 (GLOBE NEWSWIRE) -- The "Private LTE Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Component, Type, End-user" report has been added to ResearchAndMarkets.com's offering.
The private LTE market was valued at US$ 3,153.1 million in 2020 and is projected to reach US$ 8,507.2 million by 2028; it is expected to grow at a CAGR of 13.2% from 2020 to 2028.
The increasing adoption of the Industry 4.0, industrial IoT, and automated technology are significantly fueling the demand for private LTE market. The continuous advancement in connectivity is the key parameter positively influencing the market.
Increasing connected devices in manufacturing sector are generating a huge amount of data, and these data need to be analyzed effectively for smooth business operations. The increasing investments in machine-to-machine (M2M) and traditional IoT have enabled a significant increase in the economies of scale that drive the adoption of private LTE across the sector.
The private LTE market is segmented based on component, type, end-user. Based on component, the market is segmented into solution and services. The services segment is expected to hold the largest market share during the forecast period. Based on type, the private LTE market is segmented into FDD and TDD.
In 2020, the FDD segment accounted for a significant share in the market. Based on end-user, the market is segmented into manufacturing, energy & utilities, healthcare, transportation, mining, and others. The transportation segment is anticipated to be a fastest growing end user of private LTE market.
Companies such as CommScope have experienced disruption in their activities to manufacture and distribute products from their manufacturing/contract facilities. Also, due to pandemic situation, CommScope's facilities in Suzhou, China were closed in the first quarter of 2020 owing to supply constraints. Verizon, Huawei, and Ericsson are the other companies that have witnessed disruption in their business activities due to temporary closure of manufacturing and ban on supply chain.
However, on the contrary, COVID-19 on the other side is anticipated to accelerate private 5G and LTE adoption. Among B2C and consumer, the data consumption is expected to grow as social distancing continues. Also, the enterprises pivot to digital models and function virtually, the rate of data consumption will endure to boom, thus creating demand for establishing connectivity-centric ecosystem.
In addition, to maintain ease network congestion and service quality, the telecom providers have started to invest in private LTE and 5G networks. During pandemic situation, companies such as Verizon and Huawei have launched new private LTE services..
Key Topics Covered:
2. Key Takeaways
3. Research Methodology
4. Private LTE Market Landscape
5. Private LTE Market - Key Industry Dynamics
5.1 Market Drivers
5.1.1 Increasing Adoption of IoT in Manufacturing Sector
5.1.2 Increasing Demand for Reliable and Efficient Communications Network Infrastructure
5.2 Market Restraints
5.2.1 Growing Exploitation of IoT devices
5.3 Market Opportunities
5.3.1 Introduction of 5G network for Vendors Operating in Private LTE Market
5.3.2 Emerging Applications Expediting the Installation of Private Wireless Networks
5.4 Future Trends
5.4.1 Emergence of New Industrial and Residential Use Cases in the Near Future
5.5 Impact Analysis of Drivers and Restraints
6. Private LTE Market - Global Market Analysis
6.1 Global Private LTE Market
6.2 Global Private LTE Market, Revenue and Forecast to 2028 (US$ Million)
6.3 Market Positioning- Top Five Players
7. Private LTE Market - By Component
7.2 Private LTE Market Breakdown, by Component (2020 and 2028)
7.4.2 Services: Private LTE Market - Revenue and Forecast to 2028 (US$ Million)
7.4.3 Professional services
7.4.4 Managed services
8. Private LTE Market - By Type
8.2 Private LTE Market Breakdown, by Type (2020 and 2028)
9. Private LTE Market - By End-User
9.2 Private LTE Market Breakdown, by End-User (2020 and 2028)
9.4 Energy & utilities
10. Private LTE Market - Geographic Analysis
11. Impact of COVID-19 Pandemic
12. Private LTE Market - Industry Landscape
13. Private LTE Market- Company Profile
Cisco Systems, Inc.
Huawei Technologies Co., Ltd.
Verizon Communications, Inc.
Future Technologies, Inc.
Sierra Wireless, Inc
For more information about this report visit https://www.researchandmarkets.com/r/eu4u7k
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