Private LTE is an independent cellular network for a particular organization that is designed to meet customized network demands for mission-critical applications. Private LTE is suitable for some decentralized enterprise use cases, such as airports, oil/gas extraction, harbors, railroads, factories, amusement parks, agriculture, warehouses, stadiums, and mines. It can also be located in very remote locations with poor cellular coverage.

These networks are widely found to be deployed for public safety agencies which have been primarily driving the Private LTE Market growth. They offer the lowest latency time to improve situational awareness, reduce response time, and thus aids gathering more accurate information to quickly respond to emergency situations. Several public safety agencies and emergency service provider organizations (ESPOs) have deployed private LTE networks to facilitate the mission-critical transmission of voice, video, and data securely through the compounded premises. The growing demand for secure private networks with low latency and high operational efficiency is expected to accelerate the deployment of private LTE networks across various end-user companies.

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Increased adoption of IoT for integrating automation technologies in the manufacturing sector necessitate reliable network connectivity, which has been an important factor fueling the private LTE market demand. The growing number of connected devices in the manufacturing industry is generating vast amounts of data that need to be analyzed effectively for a smooth business operation. Increased investments in technological advances such as machine-to-machine (M2M) communications production scale that are in turn driving the adoption of private LTE across the manufacturing sector.

Upcoming 5G network up-gradation which offers a substantial increase in network speed is anticipated to augment the private LTE market size in the upcoming years. The Global 5G Initiative is experiencing strong growth with high investments in current scenarios such as ongoing network trials, and future expansion. Moreover, the 5G infrastructure industry enjoys the presence of established players and stakeholders around the world who have been heavily investing in the end-to-end development of 5G technology to ensure the network up-gradation in the upcoming years.

The North American region accounts for the majority of private LTE market share. Such dominance can be attributed to the well-established market in developed countries like the United States. Today, the U.S. manufacturing industry is being driven by several favorable factors, including increased adoption of the IoT, increased productivity due to the presence of advanced technology, and lower oil & gas prices. Growing penetration of network technology in several industry verticals will significantly drive regional growth during the forecast period.