Transparency Market Research delivers key insights on the global private LTE & 5G network market. In terms of revenue, the global private LTE & 5G network market is estimated to expand at a CAGR of ~49% during the forecast period, owing to numerous factors, regarding which TMR offers thorough insights and forecasts in its report on the global private LTE & 5G network market.
Huge industrial demand for high-speed data connectivity, lower latency across developed as well as developing countries across the globe, increased proliferation of the Internet of Things (IoT) connected devices, and rapid technological advancements in the field of sensors and semiconductors are expected to fuel the growth of the private LTE & 5G network market.
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Compatibility with Artificial Intelligence-driven Applications to Drive Market
Over the past few years, artificial intelligence (AI) has emerged as one of the most important technologies gaining traction across a range of industries due to the growing popularity of Industry 4.0. The industrial automation trend coupled with the onset of the Internet of Things (IoT) is expected to provide lucrative opportunities to the players operating in the private LTE & 5G network market during the assessment period. The increasing use of 5G and AI in conjunction with each other for a broad spectrum of applications is anticipated to play a key role in transforming the overall growth of the global private LTE & 5G network market during the forecast period. In addition, the growing interest in wireless edge wherein on-device processing, 5G, and edge cloud are likely to form a connectivity fabric is projected to be imperative in increasing the demand for private LTE 5G networks. Artificial intelligence is likely to play a key role in improving the 5G end-to-end system.
Some of the other factors expected to propel the global private LTE & 5G network market include improved device experience, optimum radio security, and enhanced system performance offered by a private LTE 5G network.
Private LTE & 5G Network Market: Dynamics
The introduction of 5G technologies is expected to boost the private LTE & 5G network market during the forecast period. According to GSMA, 5G connections are likely to reach 1.8 billion by 2025. Following are the companies building the value chain of 5G networking and can help in pioneering the private LTE & 5G network market: OEMs for edge computing and data centers such as Huawei Technologies, Dell EMC, Cisco Systems, Hewlett Packard Enterprise, IBM, Lenovo, and Pure Storage. Suppliers of edge compute components and datacenters – Broadcom, NVIDIA, Qualcomm, Advanced Micro Devices, Intel, Samsung Electronics, and Xilinx. Providers of network transformation include Nokia, Ericsson, Huawei Technologies, Intel, National Instruments, Samsung Electronics, and ZTE Corporation. Suppliers of IP and modems include Ericsson, Nokia, Intel, Huawei, Qualcomm, and Samsung Electronics.
Governments across major countries such as the U.S., Japan, Germany, China, and India are active in introducing the 5G spectrum to ensure efficient networking solutions and are thus, expected to boost the private LTE & 5G network market during the forecast period. Furthermore, with progress in the adoption of IoT, a large number of devices would be connected, pushing for higher bandwidths networks- a strong proposition for private LTE & 5G networks. Thus, a private LTE & 5G network is an important pillar for the Internet of Things (IoT) technology, simultaneously addressing security-related concerns.
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Private LTE & 5G Network Market: Prominent Regions
North America is anticipated to dominate the private LTE & 5G network market during the forecast period. In North America, the U.S. market is expected to expand at the highest CAGR, owing to Citizens Broadband Radio Systems (CBRS). Private LTE is an attractive option for new business and industry verticals. Enterprises and industry verticals are adopting private LTE as it can provide reliable connectivity and seamless mobility for general wireless communication and industrial IoT applications. According to GSMA Intelligence, the penetration of 5G connections in North America is expected to reach 48% of the total connections by the end of 2025. The private LTE & 5G network market in Asia Pacific is likely to expand at a high CAGR during the forecast period. The market in Middle East & Africa and South America is also projected to expand moderately over the forecast period.
Private LTE & 5G Network Market: Key Players
Key players operating in the global private LTE & 5G network market are ADVA Optical Networking SE, AMBRA Spectrums, AT&T, Inc., Blue Wireless Pte. Ltd., Deutsche Telekom AG, ETELM, Ericsson AB, Fujitsu Ltd., Future Technologies LLC, HCL Technologies Limited, Huawei Technologies Co., Ltd., Intel Corporation, ip.access, Mavenir Systems, MECSware GmbH, NEC Corporation, NetNumber Inc., Nokia Networks, Qualcomm Technologies, Inc., Quortus Limited, Redline Communications, Ruckus Networks, Samsung Group, Sercomm Corporation, SpiderCloud Wireless, Squire Technologies, Tecore, Inc., ThinkSmallCell Ltd., Verizon Communications Inc., Vertel, and ZTE Corporation.
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Global Private LTE & 5G Network Market: Segmentation
Private LTE & 5G Network Market, by Type
Private LTE & 5G Network Market, by Application
- Real-time Surveillance
- Operations Visibility & Optimization
- Authentication & Access Control
- Worker Safety Monitoring
- Remote Diagnostics & Predictive Maintenance
- Asset Management
Private LTE & 5G Network Market, by Vertical
- Industrial Manufacturing
- Discrete Manufacturing
- Process Industries
- Utilities & Electrical Power
- Power Generation
- Power Transmission & Distribution
- Water Utilities
- Public Venues
- Transport Venues
- Military Bases
- Maritime Ports
- Healthcare
- Supply Chain
- Natural Resources
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