Private LTE Network Market Size worth $19bn by 2026

Published Date: December 5, 2019    Authors: Preeti Wadhwani, Sachin Kasnale Share   

Private LTE Network Market size is set to surpass USD 19 billion by 2026; according to a new research report by Global Market Insights, Inc.
 

Private LTE is an independent Long-Term Evolution (LTE) network, which serves specific organizations for business, education or government purposes. The network is provided by traditional mobile operators or third-party network providers. It caters to the customized network demand for mission-critical applications, reducing latency in the network.

 

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The private LTE network market demand is attributed to rapid adoption of technology for industrial IoT applications. The technology enables users to integrate several machines, people, and other devices across a wide range of applications. These systems make it possible for operators to deploy high-speed networks without being dependent on licensed mobile operators. The LTE network empowers them to run their local network with dedicated equipment and setting. It delivers more coverage and capacity with the ability to customize performance according to the enterprise needs.
 

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Private LTE network offers high bandwidth and lower latency to enterprises

Private LTE networks are widely deployed in sectors including healthcare, manufacturing, and mining, where the adoption of IoT technology is rapidly increasing. The growing number of IoT devices and sensors, resulting in huge data traffic drives the need for networks that can provide unparalleled connectivity, speed, and reliability. The companies operating in the private LTE network market are offering the technologies to provide support to enterprises for the deployment of their private networks. For instance, in February 2018, ADLINK and MECSware offered technology that offers wireless connectivity for private networks, ensuring security and meeting latency requirements for IoT and Industry 4.0 applications.
 

Browse key industry insights spread across 310 pages with 529 market data tables and 30 figures & charts from the report, “Private LTE Network Market Size By Component (Product [Infrastructure {Evolved Packet Core (EPC), Backhaul, eNodeB}, Device {Smartphones, Handheld Terminals, Vehicular Routers, IoT Modules}], Service [Training & Consulting, Integration & Maintenance, Managed Service]), By Application (Public Safety, Defense, Mining, Transport, Energy, Manufacturing), Industry Analysis Report, Regional Outlook , Growth Potential, Competitive Market Share & Forecast, 2019 - 2026” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/private-lte-market
 

Increasing demand for IoT modules to propel market size

IoT modules are estimated to grow at over 35% CAGR in the private LTE network market over the forecast timeline. The growing requirement for long-range connectivity is a major factor contributing to the market demand. These mobile IoT modules are useful for various applications in smart metering for utilities including gas, water & electronics, wearable fitness & health technology, connected city streetlights & parking meters, asset tracking, smart buildings & homes including surveillance & security alarms, and smart waste management.
 

The market players are developing IoT devices compatible with the private LTE network. For instance, in March 2018, Gemtek Technology launched a new LTE-based IoT tracker, which is a compact device capable of being placed in luggage, pockets, vehicles, and other assets. This IoT tracker can constantly monitor the location of assets for various applications including IoT button, emergency button, and vibration detection along with tracking of assets, vehicles, and pets. These IoT devices compatible with technology will contribute to the increase in market size.
 

The mining sector is estimated to hold substantial market share by 2026

The mining sector held a dominant private LTE network market share and is anticipated to maintain it over the forecast period due to the rapid adoption of wireless technologies to support driverless trains, trucks, and drills. This will help mines to become safer, smarter, and more autonomous at a lower cost. Private LTE networks have great potential in the mining sector as mining firms are expected to be aggressive in deploying wireless technologies, leading to the growth of LTE providers. The market players are focusing on strategic alliances to provide technology to mines, which will enhance the safety of mine workers and increase productivity. For instance, in March 2018, Ericsson partnered with Ambra Solutions for delivering the deepest private LTE networks in Canadian gold mine. This system will enable the deployment of a private LTE network at a depth of around 3 km underground, increasing mining safety and efficiency.
 

Rapid adoption of private LTE networks for industrial IoT applications is proliferating the North America market

North America private LTE network market is expected to maintain its market share over the forecast timeline due to the rise in the adoption of LTE to support the need for low-latency networks in mission-critical communication and industrial IoT applications. North America market players are developing IoT services, which are anticipated to accelerate the adoption of technology. For instance, in July 2018, T-Mobile launched its narrowband IoT service nationwide that is built on the 3GPP standard, offering benefits such as long battery life, low device cost, and low power usage. This ensures safety in fleet management, energy utility monitoring, and other smart applications. Rapid adoption of technology in public safety is expected to burgeon the market demand. For instance, In October 2017, the Canadian Police deployed LTE network, enabling first responders to access and share information for situational awareness, preserving the agency’s Project 25 radio system for crucial voice communications. The growing adoption of technology in the mining & manufacturing sector across the region will further propel the market demand.
 

The market players in the private LTE network market are focusing on strategic alliances with other players to test the compatibility of IoT devices and enhance the efficiency of network. For instance, in July 2018, Sequans, a leading provider of LTE for IoT modules partnered with NTT DOCOMO to speed up the development of NB-IoT applications and devices on DOCOMOs network. This partnership is aimed at developing an end-to-end mature NB-IoT market in Japan.
 

Some of the private LTE network market players are AT&T, Boingo, Casa Systems, Cisco, Druid Software, Ericsson, Future Technologies, General Dynamics, Huawei, Motorola, NetNumber, Nokia, PDV Wireless, Qualcomm, Rivada Networks,  Ruckus Networks, Samsung,  Sierra, SpiderCloud Wireless, Tait, Verizon, and ZTE.