Global Opportunity Analysis and Industry Forecast, 2020-2027.” According to the report, the global private LTE market generated $3.78 billion in 2019, and is projected to generate $10.64 billion by 2027, witnessing a CAGR of 13.9 % from 2020 to 2027.
Surge in demand for defined and unique network qualities, rise in need for wireless due to shifting of business toward digitization, availability of deployment of unlicensed and shared spectrum in private LTE, and infusion of cloud technology and virtualization & open network model drive the growth of the global private LTE market. On the other hand, high cost of deployment, issue arising in Interoperability, and frequency band interference restrain the market growth. On the other hand, rise in adoption of robotics and artificial intelligence in the industry and upsurge in use of industrial IoT and 5G network present new opportunities in the coming years.
Download Report Sample (150 Pages PDF with Insights) athttps://www.alliedmarketresearch.com/request-sample/9818
- The outbreak of the pandemic led the industry to incorporate work from home (WFH) system and digitalize their businesses, which in turn has increased the emergence of private LTE.
- Conversely, the outbreak of the pandemic hampered the manufacturing unit thereby impacting the maintenance of private LTE stations and micro towers . This, in turn, has significantly impacted the market.
Based on component type, the infrastructure segment contributed to the highest market share, accounting for nearly two-thirds of the global private LTE market in 2019, and will maintain its leadership status throughout the forecast period. This is because it allows organizations to keep the data related to confidential work in a secure manner and to improve interaction & communication by using real-time messaging system. However, the services segment is estimated to manifest the fastest CAGR of 16.2% from 2020 to 2027, owing to increase in adoption of private LTE among various industries.
Based on technology, the FDD segment accounted for the highest share in 2019, holding around three-fifths of the global private LTE market, and is projected to maintain its lead position during the forecast period. The implementation of Private LTE is helping businesses of large enterprises to change the way of network and connection owing to its flexibility in choosing uplink to downlink data rate ratios, ability to implement in non-paired spectrum, ability to exploit channel reciprocity and less complex trance receiver design. This drive the growth of the segment. However, the TDD segment is expected to witness the highest CAGR of 15.2 % from 2020 to 2027, owing to growing focus on low cost hardware required for installation and maintenance.
For Purchase Inquiry: https://www.alliedmarketresearch.com/purchase-enquiry/9818
Based on region, North America contributed to the highest market share in 2019, holding around two-fifths of the global private LTE market, and will maintain its dominance in terms of revenue by 2027. This is attributed to high penetration of 5G network and growing use of artificial intelligence (AI) & other smart connected devices in the region. On the other hand, the market across Asia-Pacific region is expected to manifest the highest CAGR of 17.0% during the forecast period. This is attributed to the emergence of high-end technologies such artificial intelligence and 5G network, growing inclination toward sending bulk messages for marketing, and a major shift toward digitization by SMEs.
Allied Market Research (AMR) is a market research and business-consulting firm of Allied Analytics LLP, based in Portland, Oregon. AMR offers market research reports, business solutions, consulting services, and insights on markets across 11 industry verticals. Adopting extensive research methodologies, AMR is instrumental in helping its clients to make strategic business decisions and achieve sustainable growth in their market domains. We are equipped with skilled analysts and experts, and have a wide experience of working with many Fortune 500 companies and small & medium enterprises.
Portland, OR, United States
USA/Canada (Toll Free): +1-800-792-5285, +1-503-894-6022, +1-503-446-1141
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Follow Us on LinkedIn: https://www.linkedin.com/company/allied-market-research