The report stipulates the need for unique and defined network qualities and the convergence of 5G and private LTE as the major factors driving the growth of the private LTE market. However, on the downside, the challenge of spectrum fragmentation could restrain the market growth.
Managed service providers connect people across all business functions and regions, and provide them with relevant information related to intelligent design, operations, and maintenance, as well as, offer a higher quality of services. Managed services in the private LTE market outsource a complete network or a part of it on a proactive management basis to improve the network operations and reduce the organizational expenses.
As the private LTE market is in its initial phase, most of the vendors are not capable of providing a standalone system and its associated services to the customers. This forces them to manage few of the services from vendors who are expert in providing those to deliver the required services to the customers.
The Americas is expected to have the highest share of the overall private LTE market. It holds a major portion in the adoption of private LTE in this region and leads LTE technology usage with around 94% 4G LTE penetration.
The US and Canada are at the forefront as these countries have sustainable and well-established economies, which empower them to strongly invest in R&D activities, thereby contributing to the development of new technologies. Network operators in this region consistently invest in expanding and upgrading their LTE and LTE-advanced networks.
Latin America has witnessed an extensive use of internet and mobile-based applications, and is expected to harness private LTE into their industrial and enterprise operations.
The US is the global leader of LTE and is expected to grow aggressively in this technology due to recent government initiatives. The US government has announced the availability of the Citizens Broadband Radio Service (CBRS) band or Band 48 for commercial usage.
Canada is another key country in this region which has been positive about the usage of private LTE technology in its business operations. Canada is rich in natural resources, which has prompted the growth of several large-scale mining and energy organizations. These business entities have been inclined toward implementing private LTE as a solution to establish critical communication for M2M and machine-to-human communications.
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