The U.S. Private LTE & 5G Network Market size is expected to reach USD 13.6 billion by 2030, growing at a CAGR of 24.1% from 2022 to 2030, according to a new report by Grand View Research, Inc. This report focuses on upcoming trends in various spectrums, numerous private 5G use cases, the LTE and 5G industry’s overall regulatory scenario, and company profiles of key private LTE & 5G network providers. The growing adoption of a private network (both LTE & 5G) for the Internet of Things (IoT) applications & use cases, such as remote asset monitoring, machine control systems, and others, is one of the major factors responsible for the market growth across the U.S. The enterprises and manufacturing organizations are moving towards Industry 4.0 by automating and modernizing their industrial operations using intelligent technologies, such as machine vision and machine learning.
These
include automation, 5G, smart factory, and the Industrial Internet of
Things (IIoT). Industry 4.0 uses automated & highly intelligent, and
collaborative systems that require reliable and robust wireless connections
with low latencies. As a result, many factories & companies, such as
automotive, transportation & logistics, mining, energy, and power sectors,
adopt the private 5G & LTE networks. Growing use and adoption of IIoT and
other industry 4.0 applications in the manufacturing industry vertical is also
expected to boost the demand for private LTE & 5G network adoption over the
forecast period. Companies are moving towards adopting private networks and
choosing them over public networks because of various benefits, such as
ultra-high-speed, high security of the network, low latencies, network
reliability, and the ability to customize and upgrade their network
effectively.
Companies
and organizations already having the installed private network infrastructure
at their premises can directly take advantage of the LTE & 5G networks by
just installing the software stacks from the software vendors and getting the
LTE & 5G networks at a reduced cost. The ongoing impact of the COVID-19
pandemic and the delay in 5G deployment are expected to restrain the overall
market growth over a short period. The small- & medium-sized enterprises in
the outskirts of low-income markets areas of the U.S. are unable to comply with
the huge capital investments required to create a reliable and robust private
connectivity infrastructure. Therefore, such firms’ lack of positive response
is anticipated to slow down the market’s steady growth during the forecast
period.
The
key market companies gain a clear competitive advantage by building new private
5G installations and investing large amounts towards 5G deployment across
various industry verticals, such as manufacturing, logistics, healthcare, and
others. The network operators, such as T-Mobile, AT&T, and Verizon, have
gained a top position in the LTE & 5G network connectivity space across the
U.S. The primary network providers, such as Nokia Corp. and Ericsson, have
already invested a significant amount towards the 5G and LTE technologies and
their infrastructure development, thereby gaining a stronghold on the market for
private LTE and 5G networks
Related Press
Release@ U.S.
Private LTE & 5G Network Market Report
U.S. Private LTE & 5G Network Market Report
Highlights
- Due to the
COVID-19 pandemic, the healthcare industry is facing issues, such as
inadequate personnel care for patients and a limited workforce across the
domain. Due to this, healthcare facilities are trying to make an upgrade
to the private LTE and 5G networks to enhance their remote patient
monitoring and telemedicine abilities
- The private
LTE and 5G networks are anticipated to enhance operating excellence in
industrial verticals, such as manufacturing, by integrating IIoT in
various devices and equipment
- Due to
security concerns, the U.S. has banned Huawei Technologies, Co, Ltd., a
China-based system integrator, from deploying its 5G equipment in the
country. The U.S. is also continuously influencing its trade partners,
such as Germany and India, to ban the usage of Huawei’s equipment for the
5G network
- There is a
high focus on customers implementing the private LTE & 5G networks
with fast data transfer speeds and ultra-low latency, thereby improving
the efficiencies of the smart factories. These smart factories
utilize Artificial Intelligence (AI), Augmented
Reality (AR), and advanced robotics for their effective operations
- The
manufacturing segment is anticipated to expand at a significant CAGR from
2022 to 2030. Various manufacturing companies, such as Toyota, BMW, Audi,
and Volkswagen, are making their move towards automation and adopting the
new technologies, such as the robot assistance, IIoT, and digital twins,
by installing private LTE & 5G networks
- The
transportation & logistics segment is expected to grow at the fastest
CAGR from 2022 to 2030 due to the notable increase in the number of
warehouses across the U.S. and the high adoption of autonomous robots
across the warehousing facilities, which demands low latency and reliable
private 5G networks
About Us:
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, the company
offers market intelligence studies ensuring relevant and fact-based research
across a range of industries including technology, chemicals, materials,
healthcare and energy.
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Grand View Research, Inc
Phone: 1-415- 349-0058
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Email: sales@grandviewresearch.com
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