With the availability of 5G, the private LTE and 5G Market should triple by 2025. A new report from Mobile Experts that analyzes seven different industry sectors, including Oil and Gas, Mining, Utilities, Transportation, Government, and Manufacturing, indicates the market will be worth $10 billion by 2025. The report provides a five-year forecast of the network infrastructure, cellular devices, and network and application services that make up the growing market opportunity as these enterprises dramatically increase their usage of Private Cellular Networks within the next five years.
“A variety of industries including oil and gas, mining, utility, government, manufacturing, and others 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. 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,” said Principal Analyst Kyung Mun.
According to the report, market penetration of private LTE/5G networking differs widely across industry verticals. Today the private LTE market is largely driven by public safety, railways and ports, and utility applications. Adoption of private cellular networks in these verticals is driven by requirements for wide coverage with predictive performance and mobility that are well suited for LTE. Manufacturing and Mining industries are adopting Private LTE and 5G networks very quickly now, and are projected to contribute incredible growth over the next five years.
“We expect the global private LTE and 5G equipment and services market to grow at around 20% CAGR to about $10 billion in 2025,” said Kyung Mun. “We’ve broken down the market to illustrate the opportunity for managed services and application services, as well as the equipment itself. Many mobile operators are wondering whether they can build a significant business in managed services….we have done the homework, so now we can identify the best opportunities for operator managed services, and the best opportunities for private spectrum and private networks.”
Mobile Experts reports that after strong 30% annual growth last year, the private LTE/5G market is expected to continue its overall upward trend as the market transitions to private 5G deployments.
Source: Mobile Experts