Private LTE is referred to as a standard-based long term evolution network designed to serve specific enterprise business, educational, or government purposes. Increasing government initiative towards promoting private LTE network propelling market growth. For instance, The United States Federal Communications Commission (FCC) has permitted the 3.5GHz CBRS band for LTE use to enhance wireless broadband performance and access in the US. Moreover, market players are focusing on technological advancement and the launch of a new private network solution. For example, recently Ericsson launched a private network solution designed for streamlining the management and deployment of private LTE and 5G networks for industrial enterprises. In addition, growing demand from the developing economies expected to fuel the market demand during the forecasted period.According to AMA, the market for Private LTE is expected to register a CAGR of 26.12% during the forecast period to 2024. This growth is primarily driven by Convergence of Private LTE And 5G Network and Increasing Demand for High-Speed Private Networks.
Globally, a noticeable market trend is evident Increasing Adoption of Machine Learning and Mobile Robotics. Major Players, such as Ericsson (Sweden), Huawei (China), NEC (Japan), Verizon (United States), Cisco (United States), Samsung (South Korea), Comba (China), Arris International (United States), Sierra Wireless (Canada), NetNumber (United States), Lemko (United States), General Dynamics (United States), Future Technologies (United States), Quortus (United Kingdom) and Ambra Solutions (Canada) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
2018, Ericsson acquired Cenx, a service assurance company to the enhanced product portfolio in closed-loop automation and vendor-agnostic service assurance.
13th September 2019, the experimental network, constructed at the National Renewable Energy Labís (NREL) located in Colorado, had successfully completed its first phase and is moving into its second. 900 MHz spectrum used in the network by Anterix, provider of transformative broadband solutions. As a result of successful demonstration increased reliability for distributed generation systems such as wind and solar using private [LTE] communications are observed.Ē
- Convergence of Private LTE And 5G Network
- Increasing Demand for High-Speed Private Networks
- Increasing Adoption of Machine Learning and Mobile Robotics
- Challenge of Spectrum Disintegration
- High Initial Cost of Deployment
Growth Opportunities in Commercial IoT and Industrial Applications and Growing Demand from the Developing Economies
Less Expensive Options Such As Broadband and Wi-Fi are Available and Lack of Reliable Connectivity Infrastructure
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