Transparency Market Research delivers key insights on the global private LTE & 5G network market. In terms of revenue, the global private LTE & 5G network market is estimated to expand at a CAGR of ~49% during the forecast period, owing to numerous factors, regarding which TMR offers thorough insights and forecasts in its report on the global private LTE & 5G network market.
Huge industrial demand for high speed data connectivity, lower latency across developed as well as developing countries across the globe, increased proliferation of Internet of Things (IoT) connected devices, and rapid technological advancements in the field of sensors and semiconductors are expected to fuel the growth of the private LTE & 5G network market.
Request a sample to get extensive insights into the Private LTE & 5G Network Market
Private LTE & 5G Network Market: Dynamics
The introduction of 5G technologies is expected to boost the private LTE & 5G network market during the forecast period. According to GSMA, 5G connections are likely to reach 1.8 billion by 2025. Following are the companies building the value chain of 5G networking and can help in pioneering the private LTE & 5G network market: OEMs for edge computing and data centers such as Huawei Technologies, Dell EMC, Cisco Systems, Hewlett Packard Enterprise, IBM, Lenovo, and Pure Storage. Suppliers of edge compute components and datacenters – Broadcom, NVIDIA, Qualcomm, Advanced Micro Devices, Intel, Samsung Electronics, and Xilinx. Providers of network transformation include Nokia, Ericsson, Huawei Technologies, Intel, National Instruments, Samsung Electronics, and ZTE Corporation. Suppliers of IP and modems include Ericsson, Nokia, Intel, Huawei, Qualcomm, and Samsung Electronics.
Governments across major countries such as the U.S., Japan, Germany, China, and India are active in introducing 5G spectrum to ensure efficient networking solutions and are thus, expected to boost the private LTE & 5G network market during the forecast period. Furthermore, with progress in adoption of IoT, a large number of devices would be connected, pushing for higher bandwidths networks- a strong proposition for private LTE & 5G network. Thus, a private LTE & 5G network is an important pillar for the Internet of Things (IoT) technology, simultaneously addressing security related concerns.