Selbyville, DE -- (SBWIRE) -- 02/19/2019 -- Market Study Report, LLC, has developed a concise study on the Private LTE market to depict valuable insights related to significant market trends driving the industry. The report features analysis based on key opportunities and challenges confronted by market leaders while highlighting their competitive setting and corporate strategies for the estimated timeline.Private LTE market is projected to surpass USD 11 billion by 2024. These networks are becoming extensively popular for private and industrial environments as they offer faster network speeds, high-bandwidth and better security. Private LTE has become a preferable approach as compared to enterprise-class Wi-Fi and commercial carrier LTE networks. By deploying a high-speed dedicated network, enterprises can enhance their operational efficiency and reduce CAPEX costs. These networks offer numerous benefits for the enterprise and industrial applications where productivity and security must be maintained at higher levels. The private networks provide broadband data connections with mobility and roaming capabilities, SIM-based security and support for IoT devices. The technology complements the existing Ethernet and Wi-Fi networks and supports the digital transformation towards the adoption of 5G networks.

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Another factor accelerating the private LTE market growth is the tremendous increase in the number of connected devices and sensors that utilize the dedicated networks to meet the communication and networking requirements of the smart city applications. The applications including, smart transportation, smart lighting, waste management, and smart roads are expected to drive the demand for next-generation networks such as LTE-A and 5G to support the networking requirements in terms of reliability, interoperability and security.

Private LTE market is gaining momentum with the increase in deployments for various use cases such as enterprise IIoT applications, defense, transportation, energy and mining. A dedicated network enables organizations to control their own networking environment, customize it as per their requirements and ensures more coverage. For instance, in the critical communications industry, LTE has emerged as one of the most widely adopted networks. The network enables the use of various applications such as live streaming during emergency situations or directing mission-critical assets. The agencies are rapidly embracing dedicated networks to ensure a coordinated response, offer actionable data insights and to enhance situational awareness. Private LTE is also gaining popularity in mission-critical airport communications to enable operators to have a secure control over a smart airport network.

The mining sector is estimated to register an impressive CAGR of over 33% in the private LTE market between 2018 and 2024. The technology helps the industry in automating key mining functions to gain operational efficiencies. These networks offer the low latency needed to operate the autonomous systems such as drills and drones in harsh, remote environments.

The EPC segment held a majority share accounting for nearly 40% in the private LTE market in 2017. Growing adoption of private LTE among organizations increases the demand for EPC to address the CAPEX concerns while establishing dedicated networks. The EPC solution helps to speed up real-time information uploads and transfers with covered voice and data communications suitable for small and medium-sized networks. As networks are becoming more complex with the introduction of next-generation wireless technologies, the demand for EPC solution to manage the network payload will increase. As per the infrastructure type, the eNodeB market is expected to witness the highest growth rate of over 28% from 2018 to 2024. eNodeB installations are estimated to register a growth rate of around 50% over the forecast timeline amounting to over 329,000 units by 2024. The market growth is driven by their ability to maximize the use of bandwidth of LTE networks to enable high-speed connections.

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Vehicular routers in the private LTE market are projected to grow at a CAGR of over 32% over the forecast timeline. The market growth is driven by their ability to provide fast and reliable wireless connectivity for deployments where wired options are too expensive. These routers enable seamless connectivity and are crucial for enabling various applications such as fleet management, video surveillance and monitoring of connected mobile assets.

North America is estimated to hold the largest market share of over 40% by 2024 due to the rise in adoption of private LTE to support the need for low latency networks for mission-critical communications and industrial IoT applications. For instance, in June 2017, Bell, a Canadian communications company launched LTE-M technology to offer the rapidly increasing use of IoT devices on wide area networks in Canada. The LTE-M technology improves the efficiency of IoT devices and provides better coverage in underground and hard to reach locations.

The private LTE market in Europe is projected to grow at a CAGR of over 30% from 2018 to 2024. The market growth is driven by the huge investments in private LTE and 5G-ready networks that ensure improved connectivity and provide wider coverage. For instance, in January 2018, French mobile telephone operators planned to invest USD 3.7 billion to introduce 4G network to remove the coverage gaps by 2020. The operators including Orange, SFR, Bouygues Telecom and Iliad?s Free Mobile have planned to install 5,000 masts and antennas and ensure network coverage along 30,000km of rail tracks. Various efforts made towards the testing of 5G-ready networks will contribute towards the growth of the private LTE networks. These networks meet the needs of enterprises with specific requirements with respect to coverage, security and low latency. For instance, in February 2018, Germany?s Social Democrats and conservatives signed a coalition agreement to allocate approx. USD 9.67 billion to build gigabit-speed fixed-line data networks over the next four years. The parties aim to construct the 5G networks to enhance coverage, including auctioning licenses on regional basis.

The telecom operators are expanding their footprint in the LTE technology by providing organizations with access to their licensed spectrum so that they can deploy their dedicated LTE networks. For instance, in March 2018, the National Institute of Standards and Technology (NIST) supported the Federal Communications Commission?s plan to facilitate the sharing of a 150 MHz radio frequency spectrum band between the U.S. military and private sector users. The additional spectrum facilitates reliable connections for new communication technologies such as 5G. The government authorities are allocating frequency resources so that enterprises can deploy the next-generation networks. For instance, in September 2018, the German government announced its plan of allocating 100MHz of spectrum for large industries, enabling them to create their own networks and bypass licensed mobile operators. The spectrum will be allocated at the time of Germany?s 5G spectrum auction in 2019. Such initiatives are expected to accelerate the evolution of private LTE networks during the forecast timeline.

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Some of the Major Highlights of TOC covers:

Chapter 1: Methodology & Scope

Definition and forecast parameters

Methodology and forecast parameters

Data Sources

Chapter 2: Executive Summary

Business trends

Regional trends

Product trends

End-use trends

Chapter 3: Private LTE Industry Insights

Industry segmentation

Industry landscape

Vendor matrix

Technological and innovation landscape

Chapter 4: Private LTE Market, By Region

Chapter 5: Company Profile

Business Overview

Financial Data

Product Landscape

Strategic Outlook

SWOT Analysis

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