The \”Private LTE Market to 2027 – Global Analysis and Forecasts by Component; Type; End-user\” report has been added to ResearchAndMarkets.com\’s offering.
The global private LTE market accounted for US$ 2,631.9 million in 2018 and is expected to grow at a CAGR of 12.7% over the forecast period 2019-2027, to account for US$ 7,533.4 million by 2027.
The growth of the private LTE market is attributed to the increasing use of private LTE networks among public safety agencies. These networks enable them to reduce response times, improve situational awareness, and obtain more accurate information. Halton Police in Canada, e.g., teamed up with Motorola Solutions in October 2018 and deployed wireless LTE public safety networks for first responders.
The increasing demand for reliable, private systems with low latency and high operating performance at a low cost is expected to propel the deployment of private LTE networks across various end-use firms. However, interoperability issues between several network platforms is a prominent industry challenge. The private LTE market is gaining traction by rising deployments for different uses such as enterprise IIoT Services, defense, transport, energy, and mining. A dedicated network allows organizations to control their own networking environment, customize it according to their needs and ensure more coverage.
Reasons to Buy
• Highlights key business priorities in order to assist companies to realign their business strategies.
• The key findings and recommendations highlight crucial progressive industry trends in the Private LTE market, thereby allowing players to develop effective long term strategies.
• Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
• Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it.
• Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to component, type, and end-user.