Private LTE market continues booming

December 20, 2018 // By Jean-Pierre Joosting
Private LTE market continues booming
According to ResearchAndMarkets, the private LTE market size is expected to grow from USD 2.4 billion in 2018 to USD 4.5 billion by 2023, at a CAGR of 13% during the forecast period.

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.

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