10 year boom in private LTE and 5G networks – report
Private LTE 4G and 5G networks are set to grow by almost 50 per cent a year as industry seeks resilient and secure IoT infrastructure, according to a new report from Transparency Market Research (TMR).
End-use industries will drive the trend for private 4G and 5G in a bid to meet quality of service and speed requirements, while AI-driven applications fuelled by 5G also emerge as a driver.
The report estimates that the trend for private networks will continue to surge, achieving growth of around 49 per cent per year. The global valuation of the market is projected to be US$17.7 billion by the end of 2030.
Private 4G/5G networks have a number of benefits, including a reduction in the cost of data use at scale. Manufacturers and warehouses are particularly likely to benefit from the capabilities of private 5G networks, which can optimise speed and quality of service (including customisation) and provide a stable infrastructure for IoT.
The trend is being supported at government level in some territories with efforts being made to secure more of 5G spectrum. Countries leading this approach are the US, Japan, China, India, and Germany.
Service providers including ZTE Corporation, Samsung Electronics, Intel, National Instruments, Huawei Technologies, and Nokia, are raising awareness of the benefits of private LTE and 5G network deployment to strengthen their business propositions.
Some of the players aspiring for high stakes in the market are ZTE Corporation, Samsung Electronics, Intel, National Instruments, Huawei Technologies, and Nokia.