Private LTE Market Size

Private LTE Market Size

Private LTE Market size exceeded USD 4 billion in 2021 and is projected to expand at over 20% CAGR from 2022 to 2028. Increasing adoption of private LTE networks to efficiently manage autonomous systems remotely will positively influence the market growth.

Private LTE networks offer low latency to operate autonomous systems, such as drills and drones, in harsh or remote environments. The private LTE technology is witnessing widespread usage in the mining sector as it helps the industry in automating key mining functions to gain operational efficiencies. A private LTE network leverages advanced radio access technologies to maximize the coverage and capacity to reach remote systems, vehicles, and field personnel.
 

Due to the COVID-19 pandemic, there has been an increase in the acceptance of wireless communication and digital technologies across diverse industries including defense and manufacturing. The commercialization of the 5G network driven by the pandemic across various countries has positively impacted the demand for private LTE solutions.