Private LTE Market Revenue to Hit USD 19 Bn by 2026: Global Market Insights, Inc.

SELBYVILLE, Del., December 10, 2019 (Newswire.com) - ​​According to the latest report "Private LTE Market by Component (Product [Infrastructure {Evolved Packet Core, Backhaul, eNodeB}, Device {Smartphones, Handheld Terminals, Vehicular Routers, IoT Modules}], Service [Training & Consulting, Integration & Maintenance, Managed Service]), Application (Public Safety, Defense, Mining, Transport, Energy, Manufacturing), Regional Outlook, Competitive Market Share & Forecast 2026", by Global Market Insights, Inc., the market valuation of private LTE networks will cross $19 billion by 2026. The need for secure & reliable communication between the rising number of connected devices is supporting market growth. ​

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Some major findings of the private LTE market report include:

- The market growth is attributed to the rising adoption of smart & connected devices due to the development of smart cities.

-  North America was leading the private LTE market in 2018 due to the rise in the adoption of LTE to support the need for low-latency networks in mission-critical communication & industrial IoT applications.

-  Commercialization of 5G technology is also fueling the demand for innovative private LTE solutions.

-  Some of the leading players operating in the market are Ericsson, Huawei, Nokia, and Qualcomm.

- Evolved Packet Core (EPC) dominates the market as it offers a unique integrated approach to deliver voice & data services and operates as a standalone system in a larger network deployment.

The rising need for reliable & secure communication in businesses to efficiently perform their operations is increasing the demand for private LTE solutions. Private LTE networks enable organizations to securely extend their networks to their employees' mobile devices in the cloud without compromising with network security.

The high deployment cost of private LTE solutions due to the requirement of new radio access technology and network expansion is expected to hinder market growth. The high deployment cost in cases of network upgrades is one of the disadvantages of these networks.

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The public safety segment dominated the private LTE market share in 2018. Public safety is one of the major responsibilities of the government as it assists in protecting citizens from natural disasters and threats. This requires enhanced coordination between various organizations including firefighters, police, and other emergency medical services. In case of emergencies, it is essential for relevant organizations to rapidly communicate with one another, which requires the availability of reliable & seamless communication network. To meet this rising demand, the public safety domain has been undergoing substantial transformation globally with the suppliers offering enhanced LTE solutions. These LTE solutions deliver enhanced data connectivity by instantly transferring high data volumes. This enables the usage of various applications, such as mapping software for locating mission-critical assets or live streaming during emergency conditions, driving the market demand.

The growing adoption of the IoT platform across various verticals including transportation, retail, and manufacturing is supporting private LTE market demand in APAC. The profound growth of the IoT has increased the need for private IoT networks, enabling enterprises to improve their network security and resiliency. Various spectrum and regulatory policies introduced by governments are also driving the adoption of next-generation mobile networks. The region is observing an accelerating technology migration to 4G advanced with an increase in 4G connections.

The companies operating in the private LTE market are focusing on strategic partnerships with private companies operating in different sectors to enhance their private LTE capabilities. For instance, in October 2018, Nokia Networks was selected by Elektro, a leading power distributor in Brazil, to deploy a private LTE network and increase the reliability & efficiency of the electrical grid in the City of Atibaia and its surrounding areas in the state of Sao Paulo. This deployment of the 4G network helped the company serve over 75,000 homes & businesses in the country. The companies are also introducing new LTE products to meet the rapidly changing demands of enterprise customers.

Browse key industry insights spread across 310 pages with 529 market data tables and 30 figures & charts from the report, "Private LTE Market Size 2019-2026" in detail along with the table of contents @

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Table of Contents (ToC) of the report:

Chapter 3. Private LTE Market Insights

3.1. Introduction

3.2. Industry segmentation

3.3. Industry landscape, 2015-2026

3.4. Private LTE ecosystem analysis

3.4.1. Hardware component providers

3.4.2. Smartphone providers

3.4.3. Telecom service providers

3.4.4. Integrators

3.4.5. Managed service providers

3.4.6. End users

3.5. Advantages of LTE for private wireless networks

3.6. Working/Architecture of Private LTE

3.7. Technology & innovation landscape

3.7.1. Internet of Things (IoT)

3.7.2. 5G network

3.7.3. MulteFire technology

3.7.4. Citizens Broadband Radio Service (CBRS)

3.8. Regulatory landscape

3.8.1. 3GPP Standards Release for LTE, 3GPP Release 8, 2008

3.8.2. Citizens Broadband Radio Service (CRBS) Alliance Baseline Standards

3.8.3. The MulteFire Release 1.0 Specification

3.8.4. ITU Y.3101 Standard (Requirements of the IMT-2020 network (5G))

3.8.5. Recommendations and action plan for 5G roadmap by Steering Committee, India

3.9. Industry impact forces

3.9.1. Growth drivers

3.9.2. Industry Pitfalls and Challenges

3.10. Porter's Analysis

3.10.1. Threat of new entrants

3.10.2. Threat of substitutes

3.10.3. Bargaining power of buyer

3.10.4. Bargaining power of supplier

3.10.5. Industry rivalry

3.11. PESTEL analysis

3.12. Growth potential analysis

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About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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Source: Global Market Insights, Inc.