Private LTE Market Tracking Report Analysis 2023-2031Â
The global Private LTE Market size was valued at $5.78 billion in 2022, and is projected to reach at $20.64 billion by 2031, growing at a CAGR of 15.9% from 2023 to 2031. Private LTE is a network that is specially designed to serve specific enterprise, government, or educational purposes. Private LTE helps companies secure data by eliminating the connection between the core network and public mobile operators, and it can also be operated by a third-party network provider.
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Rising demand for secure and faster network connectivity from small and medium enterprises and an increasing number of businesses rapidly moving their operations to digital platforms are providing lucrative opportunities for market expansion in various countries. Private Long-Term Evolution (private LTE) refers to a cellular network system that provides individual network services independent of any carrier. It includes hardware, mobile core software, Subscriber Identification Module (SIM) cards, and network orchestration software that can be configured to support the specific requirements of an individual or enterprise business.
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Private LTE Market by Component (Infrastructure and Service), Technology (Frequency Division Duplexing and Time Division Duplexing), Deployment (Centralize and Distributed) Frequency Band (Licensed, Unlicensed, and Shared Spectrum), and Industry Vertical (Healthcare, Retail & E-commerce, IT & Telecom, Manufacturing, Government and Defense, Energy and Utility, Oil and Gas, Education, and Others): Global Opportunity Analysis and Industry Forecast, 2023-2031
Rising demand for improved outdoor network coverage across a wide range of end-use industries is increasing market revenue growth. LTE is a Wireless Wide-Area Network (WWAN) technology that can operate at significantly higher distances from its base stations and outperform Wireless Fidelity (Wi-Fi). End-use businesses, such as mines, shipyards, and oil rigs, among others, necessitate the installation of a few small cells to provide broad coverage in the area.
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