The global private LTE and 5G equipment and services market to grow at around 20% CAGR to about $10 billion in 2025, according to a new report by Mobile Experts.
Mobile Experts reports that after a 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.
"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," commented 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, according to the market research firm.
