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Global private LTE market is witnessing growth owing to its extensive application in distributed-enterprise sectors such as oil/gas production, stadiums, airports, ports, factories, railroads, amusement parks, warehouses, agriculture, smart city components, and mines.
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It is to be noted that private LTE helps in providing independent cellular network to a particular entity. It caters the unique network demand for mission-critical applications and reduces network latency.
Rising deployment of private LTE by public security agencies is propelling the market growth. Further, ability of the network to give better understanding of problems, decrease response time, and get reliable information is positively impacting global private LTE market growth.
Additionally, adoption of strategies such as product launch, mergers and acquisition, partnerships and agreements, investment, and others, by major companies to gain competitive advantage is positively contributing to worldwide private LTE industry outlook.
Major players operating in global private LTE market sphere include Huawei Technologies Co. Ltd., ZTE Corporation, Nokia Corporation, NEC Corporation, Athonet, Affirmed Networks Inc., Airspan Networks, Telefonaktiebolaget L M Ericsson, Samsung Group, and Redline Communications.
Moreover, emergence of IoT in industrial as well as commercial sectors is expected to create opportunities for the market growth over the forecast period. However, issues related to frequency bands interference are likely to restrain global private LTE market growth. Based on end user, the market is segmented into government & public safety, mining, utilities, oil & gas, healthcare, manufacturing, transportation & logistics, and others. With regards to the frequency band, market is bifurcated into licensed, shared spectrum, and unlicensed.
Speaking of deployment model, global private LTE industry is divided into centralized, and distributed. Considering technology, the market is bifurcated into time division duplex (TDD), and frequency division duplex (FDD). Considering the component terrain, the industry is categorized into services, and infrastructure.
As per regional analysis, North America private LTE industry is gathering large returns in recent times mainly due to high adoption of LTE to meet low-latency network demand within mission-critical communication and industrial IoT applications in the region. Meanwhile, Asia Pacific market is estimated to witness the highest CAGR during 2020-2027, owing to existing manufacturing economies in the region which produce IT products, automobiles, and electronic products.
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