According to TechSci Research report, “Global Private LTE
Market By Component, By Application, By Vertical, By Region,
Competition, Forecast & Opportunities, 2024”, global private LTE market
is expected to register growth during the forecast period, owing to high speed,
low latency and longer range offered by private LTE. Moreover, increasing
adoption of smartphones is expected to positively influence the market. Private
LTE allows machine and human communication in a single network unlike
conventional networks, which in turn is anticipated to drive global private LTE
market through 2024.
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Private LTE market, globally, can be segmented based on component,
vertical, application and region. In terms of technology, FDD or frequency
division duplex is expected to dominate the market, as it uses separate
frequency bands for sending and receiving data signals so that data signals do
not interfere. Private LTE caters to various applications such as public
safety, logistics & supply chain management and asset management. Public
safety segment is likely to capture the leading share, as enterprises are
facing challenges in data & network security due to growing number of
connected devices and introduction of IoT in various industries.
AT&T Inc., Nokia Corp., Qualcomm Inc., Huawei Tech. Co. Ltd.,
Motorola Mobility Holdings Inc., LM Ericsson Telephone Co (ERIC) and Samsung
Electronics Co Ltd are among the leading players operating in global private
LTE market. North America is the dominating regional market, owing to huge
investments in technological innovations and presence of some of the leading
players in the region. Companies operating in the market are using organic
strategies such as product launches, mergers and collaborations to boost their
share. In 2018, Nokia Inc. and China Unicom deployed private LTE at BMW
plant in China. While LM Ericsson Telephone Co (ERIC) signed an agreement to acquire
CENX to boost network automation capabilities.
“Managed service segment is expected to
acquire the major market share during forecast period, backed by its ability to
help in cutting organizational expenses and improving operator performance with
the assistance of network planning. Over the coming years, Asia-Pacific private
LTE market is expected to witness significant growth, as economies such as
Japan and China are among the largest manufacturing markets, engaged in the
production of automobiles, IT products, etc. Moreover, increasing proliferation
of smartphones and government initiatives for offering enhanced public safety
is expected to drive the global private LTE market.”, said Mr. Karan Chechi,
Research Director with TechSci Research, a research based global management
consulting firm.
Browse XX market data Tables and XX Figures spread through XXX
Pages and an in-depth TOC on " Global Private LTE Market "
“Global Private LTE Market By
Component, By Application, By Vertical, By Region, Competition, Forecast &
Opportunities, 2024” has evaluated the future
growth potential of global private LTE market and provides statistics &
information on market size, structure and future market growth. The report
intends to provide cutting-edge market intelligence and help decision makers
take sound investment decisions. Besides, the report also identifies and analyzes
the emerging trends along with essential drivers, challenges and opportunities
in global private LTE market.
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