COVID-19 brought uncertainty to most industries last year, and Private LTE/5G was no exception. But a new report from Mobile Experts concludes the lockdown made clear the need for automation, Augmented Reality and other technology tools in the workplace. The benefits of Private LTE/5G networks became clear and clarified the future of the growing market.
“Despite COVID, the private LTE/5G infrastructure and device market grew over 7 percent last year,” Principal Analyst Kyung Mun said. “Mobile Experts has observed active engagements from key suppliers of private LTE/5G solutions. Private spectrum is now available to unleash companies to use private networks. Mobile network operators and cloud players are bringing pre-packaged and custom Core/RAN/Transport solutions for varying needs across different industries. Virtualization is encouraging new players to enter the market and innovate—all that to say, we are seeing the momentum building and we expect this market to begin a strong and lengthy growth phase.””
The report breaks down the Private Wireless market into vertical market segments, analyzing each independently and thoroughly. In particular, Mobile Experts has investigated six areas in depth:
- Oil & Gas
- Government/Public Sector
In each vertical market, Mobile Experts probed the operators, suppliers and enterprise customers to understand the future private wireless business models. The data provide a forecast for Enterprise-direct, hybrid, and private wireless-as-a-service business models, using various network solutions ranging from 5G network slices to on-premises radio hardware and cloud-based core network solutions.
“We forecast that private LTE/5G infrastructure and devices will take a growing share of the overall private wireless market, growing from 11 percent in 2020 to 25 percent in 2026. The total private LTE/5G market opportunity, including services, is $45 billion-plus over the next six years, and growing at a healthy CAGR,” Mun said.