Dallas,Texas, Aug. 26, 2022 (GLOBE NEWSWIRE) -- The Private LTE & 5G Networks Ecosystem market is expected to reach USD 10.5 billion by 2029, up from USD 7.0 billion in 2022, at a Compound Annual Growth Rate (CAGR) of 18.6%.
The global telecommunications industry has advanced rapidly over the past ten years. Due to the launch of 3G (third generation) and 4G (fourth generation) mobile networks as well as the gradual decline in data prices, internet penetration has dramatically expanded over the past several years. This trend is likely to remain owing to advancements being made in the private LTE 5G & network industry. A number of businesses and sectors are changing along with the 5G network environment. As private LTE 5G networks are projected to meet QoS and speed requirements while supporting a variety of established applications and endpoints, demand for them is predicted to increase exponentially in the coming years.
Additionally, the use of private LTE and 5G networks for localized connectivity in commercial buildings, public places, and campuses are anticipated to increase significantly in the coming years thanks to the development of tools like unlicensed/shared multi-operator small cells and spectrum access schemes.
Artificial intelligence (AI) has become one of the most significant technologies in recent years, gaining acceptance in a variety of industries as a result of Industry 4.0's increasing popularity. During the assessment period, it is anticipated that the growing Internet of Things (IoT) and the trend toward industrial automation would offer attractive prospects to companies in the private LTE & 5G network market. Over the course of the projection year, it is anticipated that the increasing usage of 5G and AI in combination for a range of applications would considerably impact the market's overall growth.
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Global private LTE and 5G networks ecosystem market scope:
| Metrics | Details |
| Study Period | 2019-2029 |
| Market Size in 2029 | USD 10.5 billion |
| Segment Covered | by Submarkets, Technology, Vertical Markets, Regions |
| by Submarkets Covered | radio access network, mobile core, mobile backhaul & transport |
| Technology Covered | LTE & 5G |
| Vertical Markets Covered | critical communications & industrial iot, enterprise & campus environments and public venues & other neutral hosts |
| Regions Covered | North America, Europe, Asia Pacific, Middle East and Africa, South America |
| Key Players Profiled | Aaeon Technology, Accenture, Accuver, AceAxis, ADLINK Technology, Bosch Rexroth, 450 MHz Alliance, ADTRAN, 4K Solutions |
Additionally, the growing interest in wireless edge, where 5G, on-device processing, and edge cloud are projected to build a connectivity fabric, is likely to increase the need for private LTE 5G networks. The development of the 5G end-to-end system will rely majorly on artificial intelligence. To speed the industry's adoption of 5G technologies, 18 top automakers and Huawei Technologies Co., Ltd. partnered in May 2020 to create a 5G-enabled automotive environment.
Mobile operators are getting more inventive with their strategies to break into the private LTE and 5G network space. These approaches include operated-branded critical communications LTE platforms and the Build Your Own Network (BYON) business model, whereby mobile operators grant organizations access to their licensed spectrum so they can create their own private LTE networks inside of their operational footprint. For instance, Google, LLC and AT&T, Inc. worked together to create 5G edge computing solutions in March 2020. Anthos is an open platform that spans multi-cloud and the edge, and the industry recently invested in its debut in the telecom industry.
It is anticipated that the introduction of 5G technology would open the door to novel approaches and prospective applications that were previously less likely to be created. Therefore, a private LTE 5G network would enable large-scale IoT networks throughout factories, warehouses, and ports. The market for private LTE & 5G networks will grow as more businesses focus on testing private LTE 5G networks throughout the world. Over the upcoming period, it is projected that this tendency will continue. Additionally, as the technology advances and costs fall, the usage of private LTE 5G networks for both single-site and multiple location applications is predicted to grow at a decent rate over the course of the projection period.
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Major Points from Table of Contents:
1. Introduction
2. Research Methodology
3. Market Outlook
4. Private LTE & 5G Network Ecosystem Market by Submarket, 2018-2028 (USD Billion)
5. Private LTE & 5G Network Ecosystem by Technology, 2018-2028 (USD Billion)
6. Private LTE & 5G Network Ecosystem by Critical Markets, 2018-2028 (USD Billion)
7. Private LTE & 5G Network Ecosystem by Region 2018-2028 (USD Billion)
8. Competitive Landscape
9. Company Profiles
10. Appendix
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