Report : Asia Pacific Private LTE Market Forecast to 2030 - Regional analysis - by Component [Solution and Services (Professional Services and Managed Services)], Type (FDD and TDD), and End User (Manufacturing, Energy & Utilities, Healthcare, Transportation, Mining, and Others)
At 13.1% CAGR, Asia Pacific Private LTE Markets Speculated to be Worth US$ 3,624.47 Million by 2030, says Business Market Insights.
According to Business Market Insights’ research, the Asia Pacific private LTE market was valued at US$ 1,357.90 million in 2022 and is expected to reach US$ 3,624.47 million by 2030, registering a CAGR of 13.1% from 2022 to 2030. Growing demand for reliable and efficient communications network infrastructure and Rising need for wireless networks are among the critical factors attributed to the Asia Pacific private LTE market expansion.
The continuous growth of communication infrastructure has led to an exponential increase in the energy consumption of data centers, telecommunication networks, and other related technologies. With the rising demand for digital services and emerging technologies such as the Internet of Things (IoT), there is an urgent need for more energy-efficient solutions in the communication sector.
The emergence of IoT has enabled each device to be connected over the internet, and the increasing global adoption would result in billions of devices connected over the internet. These devices are bound to create vast amounts of data. Furthermore, with the growth in mobile broadband data, new use cases such as Fixed Wireless Access, Critical IoT, and Massive IoT will evolve. These evolutions will increase data traffic in the future. The capabilities of existing network infrastructures have benefited telecommunication service providers and carrier operators with various telecommunication bodies globally to develop a standard infrastructure for private LTE. As private LTE operates with a high-frequency spectrum, it enables the connection of many devices over the network. Thus, the rising demand for reliable and efficient communication network infrastructure drives the private LTE market globally.
On the contrary, 5G deployment with private LTE devices the growth of Asia Pacific private LTE market.
Based on component, the Asia Pacific private LTE market is bifurcated into solution and services. The solution segment held 52.2% market share in 2022, amassing US$ 708.21 million. It is projected to garner US$ 1,775.44 million by 2030 to expand at 12.2% CAGR during 2022–2030.
Based on services, the Asia Pacific private LTE market is bifurcated into professional services and managed services. The managed services segment held 67.7% share of Asia Pacific private LTE market in 2022, amassing US$ 439.62 million. It is projected to garner US$ 1,302.51 million by 2030 to expand at 14.5% CAGR during 2022–2030.
By type, the Asia Pacific private LTE market is bifurcated into FDD and TDD. The FDD segment held 52.1% share of Asia Pacific private LTE market in 2022, amassing US$ 707.14 million. It is projected to garner US$ 1,556.46 million by 2030 to expand at 10.4% CAGR during 2022–2030.
In terms of end user, the Asia Pacific private LTE market is segmented into manufacturing, energy & utilities, healthcare, transportation, mining, and others. The manufacturing segment held 30.4% share of Asia Pacific private LTE market in 2022, amassing US$ 412.84 million. It is projected to garner US$ 914.20 million by 2030 to expand at 10.4% CAGR during 2022–2030.
Based on country, the Asia Pacific private LTE market has been categorized into China, Japan, South Korea, India, Australia, and the Rest of Asia Pacific. Our regional analysis states that China captured 24.4% share of Asia Pacific private LTE market in 2022. It was assessed at US$ 331.67 million in 2022 and is likely to hit US$ 864.70 million by 2030, exhibiting a CAGR of 12.7% during 2022–2030.
Key players operating in the Asia Pacific private LTE market are Cisco Systems Inc, Telefonaktiebolaget LM Ericsson, Huawei Investment & Holding Co Ltd, Samsung Group, Verizon Communications Inc, Star Solutions, Sierra Wireless Inc, and Kyndryl Holdings Inc, among others.
- In August 2022, Samsung Electronics was selected to provide diverse 5G solutions to five government agencies and private institutions in Korea. This project is part of the government initiative to advance the country’s private 5G ecosystem, allowing non-telecom operators to build and operate 5G networks using 4.7GHz and 28GHz —dedicated frequency bands for private 5G networks in Korea.
- In August 2020, Sierra Wireless launched its EM919x 5G NR Sub-6 GHz and mmWave embedded modules. Product Development Sierra Wireless launched its EM919x 5G NR Sub-6 GHz and mmWave embedded modules. With the help of the 5G module, telecom operators will be able to deploy secure connectivity worldwide at the highest possible speeds with ultra-low latency for mobile computing, routers, gateways, industrial automation, and many new Industrial IoT applications.
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