Private LTE Market Overview:
According to MRFR analysis, the global private LTE market was valued at USD 2,449.4 million in 2018 and is expected to reach USD 5,381.9 Million by 2024, registering a CAGR of 14.7% during the forecast period. The market growth is attributed to the expansion of private LTE networks in public safety agencies, increasing adoption of LTE technology in smart cities applications, and the integration of 5G with private LTE networks.

However, the insufficient availability of spectrum is expected to hinder the growth of the private LTE market during the review period.

The Private LTE Market has been segmented based on technology, services, spectrum band, application, industry vertical, and region.

Major Key Players:
Some of the prominent vendors players in the global private LTE market include are Nokia Corporation (Finland), LM Ericsson (Sweden), Qualcomm Incorporated (US), ARRIS International Limited (US), Sierra Wireless (Canada), Future Technologies, LLC (US), Boingo Wireless, Inc (US), Verizon (US), Cisco Systems, Inc. (US), SAMSUNG (South Korea), Casa Systems (US), General Dynamics Mission Systems, Inc. (US), Huawei Technology Co. Ltd (China), and NetNumber Inc. (Netherlands).

Apart from the aforementioned players, the other vendors operating in the global private LTE market include Athonet SRL (Italy), Mavenir (US), Ambra Solutions Inc. (Canada), Zinwave (US), Star Solutions (Canada), LEMKO Corporation (US), PDVWIRELESS (US), Quortus Limited (UK).

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Segments:
By technology, the global private LTE market has been bifurcated into time division duplex (TDD) and frequency division duplex (FDD). The TDD segment is expected to have a larger market share and is projected to dominate the market during the forecast period. The market growth is due to its flexibility in selecting uplink to downlink data rate ratios, the capability to work on channel reciprocity and in the non-paired spectrum, and lesser complexity in designing transceivers. However, the FDD segment is anticipated to exhibit the higher CAGR owing to the difficulty of using special antenna techniques such as multiple-input multiple-output (MIMO) and beamforming. These technologies are vital for LTE 4G networks for increasing data rates.
Based on services, the private LTE market has been segmented into professional services and managed services. The managed services segment accounted for the larger market size in 2018, whereas the professional services segment is expected to register the higher CAGR. The market growth for managed services is attributed to an increase in the need for outsourcing the various telecom services, which in turn enables the enterprises to lower the additional expenditure on network services. However, the professional services segment has been sub-segmented into consulting services, support and maintenance services, and integration and deployment services. The need for a customized solution for private LTE to is likely to fuel the market growth of the professional services segment over the review period.

On the basis of spectrum band, the market has been categorized as Licensed Shared Access (LSA), Licensed-Assisted Access (LAA), MulteFire, and Citizens Broadband Radio Service (CBRS). These spectrum bands are initial phase of deployment and companies are gradually adopting these unlicensed spectrum band to increase their network capacity and reduce network deployment costs.

By application, the global private LTE market has been divided into real-time surveillance, operations visibility & optimization, authentication and access control, worker safety monitoring, remote diagnostics & predictive maintenance, logistics and supply chain management, asset management, and uptime assurance. The real-time surveillance segment accounted for the largest market share in 2018 and is expected to dominate the market during the forecast period. The market growth is due to the increased adoption of dedicated communication channels for various industry verticals, including mining, oil & gas, government, and defense. The need for real-time surveillance solution for public safety and smart cities initiatives are likely to drive the market growth for real-time surveillance segment during the forecast period. Moreover, logistics and supply chain management is expected to be the fastest growing segment during the forecast period—this is due to rising demand for connected devices, increased adoption of IoT-based devices across industries, and a surge in the adoption of robotics and smart machines in the manufacturing industry.

Based on industry vertical, the market has been categorized as mining, healthcare, utilities and power, industrial manufacturing, government, and defense. The mining segment accounted for the largest market share in 2018 and is expected to dominate the market during the forecast period. The market growth is attributed to rising cybersecurity threats to mining industries, which has increased the need for a private LTE network that isolates threat elements over public networks. The industrial manufacturing segment is expected to fastest growing segment owing to manufacturers are that increasing seeking ways to increase their operational efficiencies and production capacity.

Regional Analysis:
Geographically, the global private LTE market has been segmented into North America, Europe, Asia-Pacific, the Middle East and Africa, and South America. North America accounted for the largest market in 2018 and the US is the leading country-level market due to presence of large number of private LTE solution providers. Moreover, Asia-Pacific is expected to be the fastest-growing private LTE market over the next few years.

The government initiatives to boost the smart cities programmes in deploying public safety solutions and rapid investments from domestic vendors to develop the dedicated network infrastructure are factors expected to propel the market growth during the forecast period.

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