The major contributing factor for the growth of the market for private LTE can be the growing demand for unique and better quality network, and the convergence of 5G and private LTE. The enhanced and evolving technologies of 5G standards and can be used in combination with enhanced 4G convergent techniques to enable smooth evolution to next-generation networks.
Market Size – USD 3.31 billion in 2019, Market Growth – CAGR of 7.06%, Market Trends – Increasing Demand for a high-quality network.
The Private LTE Market is expected to grow from USD 3.31 billion in 2019 to USD 5.35 billion by 2027, at a CAGR of 7.06% during the forecast period. The increasing demand for high-quality networks and the idea of convergence between 5G and LTE network are the major driving factors for this market. Other contributing factors to the growth of this market are the growth of mobile network technology advancements, like 4G and Wi-Fi hotspots. The increase in infrastructures in developing countries is also a major driving factor for the private LTE market.
The issues in the spectrum fragmentation of the LTE network may restrain the growth of this market since there are too many spectrum bands used at too many places for the deployment of LTE networks.
Key players within private LTE market are Nokia (Finland), Ericsson (Sweden), Huawei (China), NEC (Japan), Verizon (US), Cisco (US), Samsung (South Korea), Comba (China), Arris International (US), Sierra Wireless (Canada), NetNumber (US), Lemko (US), General Dynamics (US), Future Technologies (US), pdvWireless (US), Quortus (UK), Ambra Solutions (Canada), Zinwave (US), Redline Communications (Canada), Athonet (Italy), Mavenir (US), Star Solutions (Canada), Druid Software (Italy), Ursys (Australia), and Luminate Wireless (US).
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Further key findings from the report suggest
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For this report, the market has been divided into segments on the basis of technology, service, application, industry and regional analysis.
Technology Outlook (Revenue, USD Million; 2017–2027)
Service Outlook (Revenue, USD Million; 2017–2027)
Application (Revenue, USD Million; 2017–2027)
Industry Outlook (Revenue, USD; 2019-2027)
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Regional Outlook (Revenue, USD Million; 2017–2027)
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