Asia-Pacific to Grow at Highest CAGR in Global Private LTE Market
Convergence of 5G and LTE, growing need for safe and reliable communication between devices, and requirement for unique and defined network qualities to drive global private LTE market through 2024.
According to TechSci Research report, “Global Private LTE Market By Component, By Application, By Vertical, By Region, Competition, Forecast & Opportunities, 2024”, global private LTE market is forecast to register an impressive growth of over 21% during the forecast period, owing to high speed, low latency and longer range offered by private LTE. Private LTE allows machine and human communication in a single network unlike conventional networks, which in turn is anticipated to drive global private LTE market through 2024.
Private LTE market, globally, can be segmented based on component, vertical, application and region. In terms of technology, FDD or frequency division duplex is expected to dominate the market, as it uses separate frequency bands for sending and receiving data signals so that data signals do not interfere. Private LTE caters to various applications such as public safety, logistics & supply chain management and asset management. Public safety segment is likely to capture the leading share, as enterprises are facing challenges in data & network security due to growing number of connected devices and introduction of IoT in various industries.
Browse 20 market
data Tables and 104 Figures spread through 117
Pages and an in-depth TOC on “Global Private LTE
Market”
https://www.techsciresearch.com/report/private-lte-market/3781.html
Nokia Corporation, Huawei Technologies Co, Ericsson Inc, NEC Corporation, QUALCOMM Incorporated Ltd are among the leading players operating in global private LTE market. North America is the dominating regional market, owing to huge investments in technological innovations and presence of some of the leading players in the region. Companies operating in the market are using organic strategies such as product launches, mergers and collaborations to boost their share. In 2018, Nokia Inc. and China Unicom deployed private LTE at BMW plant in China. While LM Ericsson Telephone Co (ERIC) signed an agreement to acquire CENX to boost network automation capabilities.
Customers can also request for 10% free customization on this report.
“Managed service segment is expected to grow at the fastest pace during forecast period, backed by its ability to help in cutting organizational expenses and improving operator performance with the assistance of network planning. Over the coming years, Asia-Pacific private LTE market is expected to witness significant growth, as economies such as Japan and China are the largest manufacturing markets, engaged in the production of automobiles, IT products, etc. Moreover, increasing government initiatives for offering enhanced public safety is expected to drive the global private LTE market.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Global Private LTE Market By Component, By Application, By Vertical, By Region, Competition, Forecast & Opportunities, 2024” has evaluated the future growth potential of global private LTE market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in global private LTE market.
About TechSci Research
TechSci Research is a leading global market research firm publishing premium market research reports. Serving 700 global clients with more than 600 premium market research studies, TechSci Research is serving clients across 11 different industrial verticals. TechSci Research specializes in research based consulting assignments in high growth and emerging markets, leading technologies and niche applications. Our workforce of more than 100 fulltime Analysts and Consultants employing innovative research solutions and tracking global and country specific high growth markets helps TechSci clients to lead rather than follow market trends.
Contact
Mr. Ken Mathews
708 Third Avenue,
Manhattan, NY,
New York – 10017
Tel: +1-646-360-1656
Email: [email protected]
Top Five IoT Security Market Companies
Cloud-Based Deployment to Push Global Security Testing Market through 2024
Saudi Arabia IoT in Manufacturing Market to Grow at 27% through 2025
About Author
