Future Market Insights has announced the addition of the “Private LTE Market: Global Industry Analysis and Opportunity Assessment, 2017-2027"report to their offering
Valley Cottage, NY -- (SBWIRE) -- 02/13/2019 -- Private LTE Market: Introduction
The demand for enabling the transition from disparate disconnected networks to smart connected systems for offering enhanced modes of customer interaction and service delivery has led to the introduction of private LTE networks.
Private LTE network is a private network (a network restricted to one enterprise) intended for efficiently connecting people/things of that respective enterprise and securing data by eliminating the connection with a core network of public mobile operators. A private LTE network, furthermore, eradicates the restrictions associated with a conventional network system, such as the Ethernet or Wi-Fi, by supporting both human and machine communication on a single network.
Private LTE network, still in its development stage, is comparatively niche and hence, hasn't witnessed much penetration in the past 4 years. However, with the advent of IIoT (Industrial Internet of Things), its deployment is expected to witness high growth opportunities during the forecast period.
Private LTE Market: Market Dynamics
Factors, such as high speed, high capacity, high security, low latency, consistence performance, longer range and interoperability associated with private LTE networks, compliment the demands required to attain IIoT. This, as a result, is expected to be the primary driver in the private LTE market. Besides these advantages associated with private LTE network, increasing adoption of isolated networks is also being witnessed, which is expected to be a contributing factor for further penetration of private LTE. Furthermore, increasing adoption of smartphones globally is also expected to push market expansion in a positive direction during the forecast period. In addition to this, governmental initiatives for offering enhanced public safety are also expected to propel the demand for private LTE networks globally.
However, issues, such as complexity associated with the implementation of private LTE networks and constraints in terms of the requirement for authorized license to deploy private LTE network is also expected to hinder the growth of private LTE networks.
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Private LTE Market: Segmentation
Global private LTE market can be segmented on the basis of product type and industry verticals.
Segmentation for private LTE market by product type:
On the basis of product type, the private LTE market can be segmented as:
LTE-TDD (long-term evolution time division duplex)
LTE-FDD (long-term evolution frequency division duplex)
Segmentation for private LTE market by industry verticals:
On the basis of industry verticals, the private LTE market can be segmented as:
Military and Defense
Manufacturing and Industrial
Oil and Gas
Energy and Mining
Of the above mentioned industry verticals, major adoption of private LTE is expected in manufacturing and industrial segments owing to the increasing penetration of Industry 4.0 and Industrial IoT. Besides this, a major application of private LTE lies in the management of warehouses. Henceforth, warehouse management is also expected to be a driving factor for private LTE market.
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Private LTE Market: Key Players
Some of the key players in the private LTE market are Nokia, Huawei Technologies Co., Ltd., Qualcomm Technologies, Inc., Ruckus Networks, Future Technologies, Ambra Solutions inc., Comba Telecom Systems Holdings Ltd. and AIR-LYNX.
Many telecom players have witnessed opportunities for growth in the market and are, henceforth, aiming at launching or innovating solutions for the same. For instance, in February 2017, GE, Nokia and Qualcomm partnered together with an intention of demonstrating a private LTE network solution for the Industrial Internet of Things (IIoT).