Significant Rise in Private Investments for Testing Private LTE 5G Networks to Aid Market Growth
The global telecommunication sector has evolved at a breakneck pace over the past decade. With the onset of the third generation (3G) and fourth generation (4G) mobile networks coupled with dwindling prices of data over time, Internet penetration around the world witnessed a major spike over the past few years – a trend that is set to continue due to developments being made in the private LTE 5G & network market. As the 5G network ecosystem continues to evolve, several businesses and industries are evolving as well. The demand for private LTE 5G network is expected to grow at an exponential rate in the upcoming years, as it is anticipated to cater to the QoS and speed requirements while supporting a number of classic applications and endpoints.
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Manufacturing sites and distribution centers, along with a range of other campus environments are estimated to largely benefit with the integration of private LTE 5G network. While the industrial sector is expected to remain one of the most prominent end-use sectors of private LTE 5G network, the non-industrial sector is also tipped to provide considerable opportunities to the telecommunication companies that are increasingly focusing on the development of their private LTE 5G network. The notable drop in prices of electronic devices, including smartphones and tablets is another major factor expected to propel the global private LTE & 5G network market.
At the back of these factors, the global private LTE & 5G network market is on course to surpass US$ 17.7 Bn mark by the end of 2030.
Compatibility with Artificial Intelligence-driven Applications to Drive Market
Over the past few years, artificial intelligence (AI) has emerged as one of the most important technologies gaining traction across a range of industries due to the growing popularity of Industry 4.0. The industrial automation trend coupled with the onset of the Internet of Things (IoT) is expected to provide lucrative opportunities to the players operating in the private LTE & 5G network market during the assessment period. The increasing use of 5G and AI in conjunction with each other for a broad spectrum of applications is anticipated to play a key role in transforming the overall growth of the global private LTE & 5G network market during the forecast period. In addition, the growing interest in wireless edge wherein on-device processing, 5G, and edge cloud are likely to form a connectivity fabric is projected to be imperative in increasing the demand for private LTE 5G network. Artificial intelligence is likely to play a key role in improving the 5G end-to-end system.
Some of the other factors expected to propel the global private LTE & 5G network market include improved device experience, optimum radio security, and enhanced system performance offered by a private LTE 5G network.
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5G Technology to Enable Industrial-scale IoT Networks across Warehouses, Factories
The advent of the 5G technology is expected to pave the way for new solutions and potential applications that were less likely to be developed previously. As a result, private LTE 5G network would enable industrial-scale internet-of-things networks across ports, warehouses, and factories. A number of companies around the world are increasingly focusing on testing private LTE 5G network– a trend that is likely to continue over the next few months, thus boosting the global private LTE & 5G network market. Moreover, analysts at Transparency Market Research are of the opinion that during the forecast period, as the technology matures and costs move in a downward trajectory, the adoption of private LTE 5G network for both, single-site as well as multiple location applications is expected to grow at a commendable pace.
5G to Support Fight against COVID-19, Likely to Propel Market Growth
The onset of the novel COVID-19 pandemic is expected to have a moderate impact on the overall growth trajectory of the global private LTE & 5G network market. Private LTE and 5G network are projected to help in streamlining services and operations across a host of industries, including healthcare, banks, government services, academics, and supply chain during the COVID-19 period and beyond. The increasing demand for contactless technology and connectivity between multiple devices is expected to play a major role in driving the demand for private LTE 5G network during the COVID-19 pandemic.
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Analysts’ Viewpoint
The global private LTE & 5G network market is expected to expand at an impressive CAGR of ~49% during the forecast period. The market growth is driven by factors such as increasing mobile penetration worldwide, dwindling prices of data, rising demand for private LTE 5G network for AI-driven applications, and growing interest in the Internet of Things (IoT). The benefits provided by private LTE 5G network in comparison with 4G and other alternative technologies is anticipated to propel the global private LTE & 5G network market during the assessment period.
Private LTE & 5G Network Market: Overview
- According to a latest research report on the global private LTE & 5G network market published by Transparency Market Research for the historical period 2018–2019 and the forecast period 2024–2030, increasing adoption of mobile Internet and cloud computing among end users is expected to boost the global private LTE & 5G network market during the forecast period. Adoption of smartphones and new technologies has propelled the demand for private LTE & 5G networks across the globe.
- In terms of revenue, the global private LTE & 5G network market is estimated to exceed a value of US$ 17.7 Bn by 2030, expanding at a CAGR of ~49% during the forecast period
Private LTE Networks Heading Industrial and Commercial Internet of Things (IoT): A Key Driver
- At present, different sectors are focused on adopting digital solutions, Internet of Things, and smart system technologies in order to improve their performance. This, in turn, is expected to increase the adoption of private LTE & 5G networks during the forecast period. A robust wireless network is the key solution to be incorporated and integrated with existing systems to achieve required efficiencies, as the growing number of smart connected devices utilizing next generation wireless technologies would drive the need for data intensive but secure networks. Thus, a private LTE and 5G network forms an important pillar for the Internet of Things (IoT) technology, simultaneously addressing security related concerns. This is expected to boost the private LTE & 5G network market during the forecast period.
- Telecom providers are majorly investing in developing the 5G infrastructure but are failing to address security challenges that are not implemented in the new 5G standards. This, in turn, is expected to hinder the private LTE & 5G network market during the forecast period. Earlier, wireless communication faced major security vulnerabilities. 1G, 2G, 3G, and 4G security issues such as illegal cloning, masquerading, and message spamming were prevalent across enterprises. Security issues are a major concern of telecom providers and equipment providers with the evolution of the fifth generation (5G) wireless network. Hence, security and cost issues related to 5G infrastructure are likely to be major factors hindering the private LTE & 5G network market during the forecast period.
Increase in Investments in Private LTE & 5G Network
- Internet has revolutionized the world. Advent of 5G technologies is expected to boost the private LTE & 5G network market during the forecast period. According to GSMA, 5G connections are projected to reach 1.8 billion by 2025. As per TMR analysis, at present, mobile 5G is available from 46 operators in 24 markets across the globe. Additionally, around 79 global operators are planning to launch 5G mobile services during the forecast period. Thus, increasing adoption of mobile Internet and cloud computing is expected to boost the use of mobile applications in the upcoming years and consequently, lead to the growth of the private LTE & 5G network market.
- Alternatively, government initiatives to boost network connectivity to provide smooth communication is also projected to have a positive impact on the global private LTE & 5G network market during the forecast period
Private LTE & 5G Network Market: Competition Landscape
- Detailed profiles of providers of private LTE & 5G network have been provided in the report to evaluate their financials, key product offerings, recent developments, and strategies
- Key players operating in the global private LTE & 5G network market are
- Deutsche Telekom AG
- Ericsson Inc.
- ADVA Optical Networking SE
- AMBRA Spectrums
- AT&T, Inc.
- Blue Wireless Pte. Ltd.
- ETELM
- Fujitsu Ltd.
- Future Technologies LLC
- HCL Technologies Limited
- Huawei Technologies Co., Ltd.
- Intel Corporation
- ip.access
- Mavenir Systems
- MECSware GmbH
- NEC Corporation
- NetNumber Inc.
- Nokia Networks
- Qualcomm Technologies, Inc.
- Quortus Limited
- Redline Communications
- Ruckus Networks
- Samsung Group
- Sercomm Corporation
- SpiderCloud Wireless
- Squire Technologies
- Tecore, Inc.
- ThinkSmallCell Ltd.
- Verizon Communications Inc
- Vertel
- ZTE Corporation
Private LTE & 5G Network Market: Key Developments
- Key providers of private LTE & 5G network, such as Deutsche Telekom AG, Ericsson Inc., AT&T, Inc., Fujitsu Ltd., and Huawei Technologies Co., Ltd. are focusing on the development of cost-effective private LTE & 5G network to attract more customers. Additionally, players active in providing private LTE & 5G network are focusing on inorganic growth strategies such as strategic collaborations and merger & acquisition activities with technology partners to improve their offerings and market reach in the private LTE & 5G network market. Some other key developments in the global private LTE & 5G network market are highlighted below:
- In May 2024, Huawei Technologies Co., Ltd. entered into a partnership with 18 leading automakers to develop a 5G-enabled automobile environment to accelerate commercial use of 5G technologies in the industry
- In March 2024, Google, LLC collaborated with AT&T Inc. to develop 5G edge computing solutions. The company recently invested in launching Anthos for telecom to deliver an open platform that spans multi-cloud and edge.
- In March 2024, Ericsson and Telenor cumulatively launched 5G services in Norway. Ericsson and Telenor have been working together since December 2019 to bring 5G to Norway.
- In February 2024, Ericsson and Telstra Corporation Limited entered into a partnership to launch Ericsson-enabled 5G millimeter wave (mmWave) on the 26GHz spectrum band
- In the global private LTE & 5G network market report, we have discussed individual strategies, followed by company profiles of providers of private LTE & 5G network. The ‘Competition Landscape’ section has been included in the report to provide readers with a dashboard view and company market share analysis of key players operating in the global private LTE & 5G network market.
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