Private LTE market continues booming : Page 2 of 2

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 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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