Ocean View, DE -- (SBWIRE) -- 06/24/2020 -- Global Private LTE market is expected to exceed USD 19 billion by 2026. The need for secure & reliable communication between the rising number of connected devices is supporting market growth. Growing need for reliable and secure communication between various connected devices is likely to drive private LTE market outlook. With rapid development of smart cities, adoption of smart & connected devices is on rise. Rapid commercialization of 5G technology is also playing a crucial part in bolstering the demand for advanced private LTE solutions. In 2018, North America was a major regional ground for private LTE industry due to the rising adoption of LTE networks in mission-critical communication and industrial IoT applications across the region.
Without compromising on network security, private LTE networks enable companies to securely extend their networks to their employees' mobile devices & cloud. The increasing requirement for reliable and secure communication in businesses to efficiently perform operations will bolster the adoption of private LTE solutions in the coming years.
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Governments across the globe shoulder the major responsibilities of public safety, which assists in protecting citizens from threats and natural disasters. This requires strong coordination among various organizations, including police, emergency medical services, firefighters, etc. In times of emergencies, it is important for relevant organizations to promptly communicate with one another, through a reliable and seamless communication network. In a bid to meet this mounting demand for secure communication, the public safety sector has been undergoing extensive transformation globally with the help of suppliers offering advanced LTE solutions.
Advanced LTE solutions deliver better data connectivity by instantaneously transferring high volumes of data, which facilitates the usage of various applications, such as live streaming during emergency conditions, mapping software for locating mission-critical assets, etc. In 2018, public safety application segment dominated private LTE market share and is expected to showcase appreciable growth over the coming years.
The public safety segment dominated the private LTE market share in 2018. Public safety is one of the major responsibilities of the government as it assists in protecting citizens from natural disasters and threats. This requires enhanced coordination between various organizations including firefighters, police, and other emergency medical services. In case of emergencies, it is essential for relevant organizations to rapidly communicate with one another, which requires the availability of reliable & seamless communication network. To meet this rising demand, the public safety domain has been undergoing substantial transformation globally with the suppliers offering enhanced LTE solutions. These LTE solutions deliver enhanced data connectivity by instantly transferring high data volumes. This enables the usage of various applications, such as mapping software for locating mission-critical assets or live streaming during emergency conditions, driving the private LTE market demand.
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The growing adoption of the IoT platform across various verticals including transportation, retail, and manufacturing is supporting market growth in APAC. The profound growth of the IoT has increased the need for private IoT networks, enabling enterprises to improve their network security and resiliency. Various spectrum and regulatory policies introduced by governments are also driving the adoption of next-generation mobile networks. The region is observing an accelerating technology migration to 4G advanced with an increase in 4G connections.
Table of Contents (ToC) of the report:
Chapter 6. Private LTE Market, By Application
6.1. Key trends, by application
6.2. Public safety
6.2.1. Public safety market estimates and forecast, 2015-2026
6.3.1. Defense market estimates and forecast, 2015-2026
6.4.1. Mining market estimates and forecast, 2015-2026
6.5.1. Transportation market estimates and forecast, 2015-2026
6.6.1. Energy market estimates and forecast, 2015-2026
6.7.1. Manufacturing market estimates and forecast, 2015-2026
6.8.1. Others market estimates and forecast, 2015-2026
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