DUBLIN--(BUSINESS WIRE)--The "Private LTE Market - Growth, Trends and Forecast (2019 - 2024)" report has been added to ResearchAndMarkets.com's offering.
The private LTE market is expected to register a CAGR of 12.63% during the forecast period (2019 - 2024)
Private LTE networks offer the best alternatives for improved security of various business applications. These networks are very economical as they have low deployment costs and high operational efficiency.
- The primary driver of the private LTE networks is the increasing adoption of isolated systems. Private LTE networks offer various features such as high speed, high capacity, high security, low latency, consistent performance, more extended range and interoperability which compliments the demand required to attain IIoT. This can be considered as one of the major factors for the private LTE market.
- Factors hindering the growth of private LTE are complexity associated with the implementation of private LTE networks and constraints in terms of the requirement for an authorized license to deploy a private LTE network.
- Automation Industry makes use of private LTE networks for various applications such as factory-floor robotics and for logistics and warehousing (for pick and pack machines). Private LTE is also massively used by factory-floor robotics, logistics and warehouse divisions. Due to the growing advantages offered by these networks, they are increasingly being deployed for other users such as transportation, mining, and enterprise IIoT applications.
Scope of the Report
Private LTE network is a private network which is restricted to one enterprise and is intended for efficiently connecting people or things of that respective enterprise, and its primary purpose is to secure data by eliminating the connection with a core network of public mobile operators.
Key Market Trends
Industrial Segment Expected to Have Largest Market Share
The significant adoption of private LTE is expected an increase in industries owing to the penetration of Industry 4.0 and Industrial IoT. LTE has many advantages over Wi-Fi, particularly in industrial environments, ranging from higher coverage and capacity to quality of service and built-in security. Highly optimized just-in-time industrial operations and supply-chain provide connectivity links where a few seconds of downtime can translate into millions of dollars in productivity loss. In the 5G perspective, supply chains have multiple end products with shared components, facilities, and capacities.
For instance, In March 2019, Ericsson launched a private network solution that focussed on simplifying the deployment and management of 5G networks and private LTE for industrial enterprises with no prior experience of cellular network operations. The company pre-packed private LTE and 5G for various factories and warehouses. The solution aims to make cellular technology rapidly deployable for factory and warehouse staff.
On Nov 2018, Nokia and China Unicom created a private LTE network for a BMW Brilliance Automotive Ltd. plant. The private LTE network is expected to support secure voice and data communication between staff at the plant as well as machine-to-machine interaction including wireless video monitoring, production line maintenance inspection, indoor navigation, industrial robots, and indoor navigation.
Asia-Pacific Expected to Have Significant Growth
Asia-Pacific region is expected to offer new market opportunities to the vendors of the private LTE network. Considering the growth of the private LTE market, Japan, China, and Australia are essential countries in APAC.
Japan and China are the most significant manufacturing economies that produce automobiles, information technology products, and electronic products. The market growth of private LTE in this region is due to the factors, such as the rise in M2M communications, increased smartphone penetration and is supported by the penetration of IoT platforms across various industry verticals such as healthcare, transportation, and manufacturing. This is increasing the demand for private IoT networks enabling enterprises to incorporate different devices for increased reliability and security.
The growth of private LTE is also attributed to several efforts taken by the government authorities and telecom companies for the deployment of LTE technology in mission-critical applications. For instance, In June 2018, the South Korean government committed an investment of USD 1.6 billion to set up a nationwide public safety network based on LTE technology by 2020.
The private LTE market is consolidated and it is dominated by major players present in the market. There are various mergers and acquisitions taking place in this market and many major companies are investing heavily in the R&D activities.
September 2018: Ericsson signed an agreement to acquire CENX, a provider of closed-loop automation and service assurance capabilities.
July 2018: Quortus partnered with Fujitsu on cellular core network technology for private LTE. Under the deal, Fujitsu deployed Quortus' network products as a part of its private LTE solutions for enterprises, telecom operators, and large organizations in Japan.
May 2018: Ericsson partnered with Verizon, Qualcomm, and Federated Wireless for commercial deployment of LTE on the CBRS wireless spectrum ecosystem in the US.
Key Topics Covered:
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Industry Attractiveness - Porter's Five Force Analysis
5 MARKET DYNAMICS
5.1 Market Drivers
5.1.1 Increasing Adoption Of Isolated Systems
5.1.2 Adoption Of Smartphones
5.2 Market Challenges
5.2.1 Requirements For Authorized License
6 TECHNOLOGY SNAPSHOT
7 MARKET SEGMENTATION
7.1 By End-user Industry
7.1.1 Industrial (Public Safety, Supply Chain Management, Utilities, Manufacturing)
7.1.4 Other End-user Industries
8 COMPETITIVE LANDSCAPE
8.1 Company Profiles
8.1.1 Arris International Inc.
8.1.2 Quortus Ltd.
8.1.3 Redline Communications Inc.
8.1.4 NEC Corporation
8.1.5 Luminate Wireless Inc.
8.1.6 Huawei Technologies Co. Ltd.
8.1.7 Ruckus Networks Inc.
8.1.8 Qualcomm Technologies Inc.
8.1.9 Future Technologies Pvt. Ltd.
8.1.10 Sierra Wireless Inc.
9 INVESTMENT ANALYSIS
10 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/ijxa12