Private LTE Market Worth $4.5 Billion by 2023 - Exclusive Report by MarketsandMarkets

CHICAGO, December 12, 2018 /PRNewswire/ --

According to a new market research report "Private LTE Market by Technology (FDD and TDD), Service (Managed Services, Integration & Deployment), Application (Public Safety, Logistics & Supply Chain Management), Industry (Energy & Utilities, Mining), and Region - Global Forecast to 2023", published by MarketsandMarkets, the Global Private LTE Market is expected to grow from USD 2.4 billion in 2018 to USD 4.5 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 13% during the forecast period.

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The need for unique and defined network qualities and convergence of 5G and private LTE are the major factors driving the growth of the Private LTE Market.

Browse in-depth TOC on "Private LTE Market"

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The integration and deployment services segment to grow at the highest CAGR during the forecast period  

Integration and deployment services are an essential for executing the private LTE network system. They provide multi-vendor services and solutions for networks and their associated infrastructures. They also help organizations integrate all their applications and systems on a common dedicated network. They assist the IT staff of enterprises in understanding the private LTE system and learning the operations and monitoring of it. Moreover, they save enterprises' deployment time and avoid the additional cost spending on the deployment of the private LTE network system.

The Frequency Division Duplex (FDD) segment to hold a larger market size during the forecast period  

FDD is a technique where separate frequency bands are used at the transmitter and receiver side. As the FDD technology uses different frequency bands for sending and receiving operations, sending and receiving data signals do not interfere with each other. This technique makes FDD a better choice than Time Division Duplex (TDD) for managing symmetric traffic, such as voice applications, in broadband wireless networks.