Private LTE Market Size By Component (Product [ Infrastructure {Evolved Packet Core (EPC), Backhaul, eNodeB}, Device {Smartphones, Handheld Terminals, Vehicular Routers, IoT Modules}], Service [Training & Consulting, Integration & Maintenance, Managed Ser

Private LTE Market Size By Component (Product [ Infrastructure {Evolved Packet Core (EPC), Backhaul, eNodeB}, Device {Smartphones, Handheld Terminals, Vehicular Routers, IoT Modules}], Service [Training & Consulting, Integration & Maintenance, Managed Service]) By Application (Public Safety, Defense, Mining, Transport, Energy, Manufacturing) Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2020 - 2026

The global private LTE market is gaining traction and it is poised to experience a substantial growth over the next few years. The adoption of private LTE networks has increased considerably in recent years as more and more enterprises aim to efficiently manage autonomous systems remotely. Future trends in the industry will likely be driven by the widespread implementation of LTE technology in smart city applications.

On the basis of components, the global private LTE industry is classified into products and services. The product segment can be further bifurcated into infrastructure and devices. The infrastructure solutions includes evolved packet core, eNodeB, and backhaul. The backhaul segment is projected to record a healthy CAGR of 15% through 2026, driven by the increasing penetration of smartphones and a strong demand for high mobile bandwidth network.

The different types of LTE devices include smartphones, IoT modules, vehicular routers, and handheld terminals. Smartphones are expected to capture over 25% of the overall market share in terms of revenue by 2026. This can be attributed to the rising demand for 4G LTE.

Handheld terminals segment will account for nearly 40% revenue share of the global private LTE market by 2026. These devices are experiencing a significant adoption for delivering loud audio and ruggedness.

The demand for vehicular routers is estimated to grow at a CAGR of 25% over the coming years, with increasing application in transportation departments such as metro buses, school bus fleets, and utility trucks. Their wide adoption can be associated with advantages such as higher security and improved performance.

Consulting & training, managed services, and integration & maintenance are among the different types private LTE services. The demand for consulting and training services is likely to at a CAGR of about 20% through 2026. These services help organizations transform their networks and leverage the benefits of an LTE infrastructure.

The adoption of managed services, on the other hand, is anticipated to increase at a robust 25% CAGR up to 2026, driven by the increasing consumer expectation for improved network coverage and performance.

Private LTE networks are widely used in defense, public safety, mining, energy, transportation, and manufacturing applications, among others. The adoption of LTE services in defense application will rise at a 20% CAGR through 2026, with growing use in border control, military, and natural disaster management operations.

Public safety applications accounted for a 40% revenue share of the global private LTE industry in 2019 and it is likely to grow substantially in the future. LTE technology enables the use of different applications such as mapping software which can be used to locate mission critical assets or for live streaming during emergency situations.

The demand for private LTE solutions across the manufacturing sector will grow at a CAGR of around 25%, driven by rapid urbanization and industrial development.

The private LTE industry in the Latin America, Middle East and Africa regions is slated to expand at a steady 20% CAGR through 2026, with the increasing adoption of mobile backhaul networks for providing connectivity to remote areas.