Mobile Experts: “The private LTE/5G market will continue its overall upward trend”
Mobile Experts released a detailed analysis of future private LTE and 5G use by the oil and gas, mining, utilities, transportation, government (including public safety) and manufacturing industries, concluding that all of these verticals will significantly increase their usage of private cellular networks over the next five years, due to the availability of new spectrum. In fact, according to Principal Analyst Kyung Mun, the global private LTE/5G equipment and services market is expected to grow at around 20% CAGR to about $10 billion in 2025.
“Many mobile operators are wondering whether they can build a significant business in managed services,” commented Mun, adding that the results of the report can help identify the best opportunities for operator managed services and for private spectrum and private networks.
The report showed that variety of industries are upgrading their investment in private wireless networks to support industrial operations.
“As the 3GPP cellular ecosystem continues to expand beyond consumer mobile broadband, multiple industries are increasingly adopting private LTE and 5G into their network modernization plans,” said Mun. “The expanding spectrum options for industrial use now available, like CBRS or C-band spectrum, along with pre-packaged private LTE solutions and “as a service” offerings are making private LTE adoption easier.”
The report also revealed that market penetration of private LTE/5G networking differs widely across industry verticals, and that today the private LTE market is largely driven by public safety, railways and ports and utility applications due to requirements for wide coverage and mobility, which LTE can provide.
Manufacturing and mining industries are adopting private LTE, as well as 5G networks at a faster pace, and over the next five years, are projected to contribute substantially to market growth.
As the market transitions to private 5G deployments, Mobile Experts expects the private LTE/5G market to continue its overall upward trend.
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