Private LTE Market Forecast to Reach $14.6 Billion by 2032: Insights by Component, Technology, Frequency Band, Deployment Model, Industry Vertical, and Region 2024-2032
Dublin, March 27, 2024 (GLOBE NEWSWIRE) -- The "Private LTE Market Report by Component, Technology, Frequency Band, Deployment Model, Industry Vertical, and Region 2024-2032" report has been added to * ResearchAndMarkets.com's* offering.
The global private LTE market reached US$ 5.6 billion in 2023. Looking forward, the market is projected to reach US$ 14.6 billion by 2032, exhibiting a growth rate (CAGR) of 11.2% during 2023-2032.
Significant growth in the telecommunication industry across the globe is one of the key factors creating a positive outlook for the market. Private LTE provides improved bandwidth and data transfer speeds that prevent unstable internet connections during video and audio calls. Additionally, the widespread product utilization in smartphones and smart home devices, such as security alarms, connected city streetlights, smart waste management and wearable fitness and health trackers, is favouring the market growth.
Moreover, various technological advancements, such as the integration of communication systems with artificial intelligence (AI) and the Internet of Things (IoT) solutions to provide seamless connectivity, enhanced security, outdoor coverage, and low latency, are providing a thrust to the market growth. These technologies analyse, optimize, and improve the data and maintain the confidentiality of sensitive information within the network.
Other factors, including the increasing demand for wireless networks across organizations, along with the widespread product adoption in the medical industry for improved communications between healthcare systems, are anticipated to drive the market toward growth.
*Key Market Segmentation*
The report provides an analysis of the key trends in each sub-segment of the global private LTE market report, along with forecasts at the global, regional and country level from 2024-2032. The report has categorized the market based on component, technology, frequency band, deployment model and industry vertical.
*Breakup by Component:*
· Infrastructure
· Service
*Breakup by Technology:*
· FDD
· TDD
*Breakup by Frequency Band:*
· Licensed
· Unlicensed
· Shared Spectrum
*Breakup by Deployment Model:*
· Centralized
· Distributed
*Breakup by Industry Vertical:*
· Healthcare
· IT and Telecom
· Manufacturing, Retail and E-commerce
· Government and Defense
· Energy and Utility
· Oil and Gas
· Education
· Others
*Breakup by Region:*
· North America
· Asia-Pacific
· Europe
· Latin America
· Middle East and Africa
*Competitive Landscape*
The competitive landscape of the industry has also been examined along with the profiles of the key players being:
· Airspan Networks Inc.
· ASOCS Ltd.
· Casa Systems Inc.
· Cisco Systems Inc.
· Comba Telecom Systems Holdings Limited
· CommScope Inc.
· Druid Software Limited
· Huawei Technologies Co. Ltd.
· Nokia Corporation
· Qualcomm Incorporated
· Sierra Wireless Inc and Telefonica SA
*Key Attributes*
*Report Attribute* *Details*
No. of Pages 142
Forecast Period 2023-2032
Estimated Market Value (USD) in 2023 $5.6 Billion
Forecasted Market Value (USD) by 2032 $14.6 Billion
Compound Annual Growth Rate 11.2%
Regions Covered Global
For more information about this report visit https://www.researchandmarkets.com/r/xua4he
*About ResearchAndMarkets.com*
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
*Attachment*
· Private LTE Market
CONTACT:
CONTACT: ResearchAndMarkets.com
Laura Wood,Senior Press Manager
press@researchandmarkets.com
For E.S.T Office Hours Call 1-917-300-0470
For U.S./ CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900