Report : Asia-Pacific Private LTE Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Component (Solution and Services), Type (FDD and TDD), and End- user (Manufacturing, Energy & Utilities, Healthcare, Transportation, Mining, and Others)
Manufacturing Segment to Dominate APAC Private LTE Market during 2021–2028.
According to a new market research study on “APAC Private LTE Market to 2028 – COVID-19 Impact and Analysis and Forecast by: Component, Type, and End- user,” is expected to reach US$ 2,560.44 million by 2028 from US$ 880.98 million in 2021. The market is estimated to grow at a CAGR of 16.5% from 2021 to 2028. The report provides trends prevailing in the APAC private LTE market along with the drivers and restraints pertaining to the market growth. Advent of 5G network for vendors operating in private LTE market is the major factor driving the growth of the APAC private LTE market. However, issues associated with the rising exploitation of IoT devices hinder the growth of APAC private LTE market.
The APAC private LTE market is segmented into component, type, end-user, and country. Based on component, the market is segmented into solution and services. The services segment dominated the market in the year 2020 and is also expected to be the fastest growing during forecast period. Based on type, the market is segmented into FDD and TDD. The FDD segment dominated the market in year 2020 and TDD segment is expected to be the fastest growing during the forecast period. Based on end- user, the market is segmented into manufacturing, energy & utilities, healthcare, transportation, mining, and others. The manufacturing segment dominated the market in year 2020 and transportation segment is expected to be the fastest growing during the forecast period.
The COVID-19 outbreak has resulted in a massive financial loss in APAC. The governments in APAC countries are taking possible steps to reduce its effects by announcing lockdown, which is negatively affecting the manufacturing sector. China, India, South Korea, Taiwan dominates the global manufacturing sector with significantly unparalleled, large numbers of manufacturing units. The COVID-19 emergence and imposition of lockdown across the country have substantially disrupted its manufacturing sector. Since the emergence of the COVID-19 virus, the country has undergone several lockdown phases, which has adversely affected the manufacturing and construction industries. Since manufacturing is one of a prominent business of Asia, the scope of industry 4.0 is expanding in same. With growing proliferation of industry 4.0, the demand for private LTE will rise in Asian economies. With ease in government measures and manufacturing units getting started to work with full capacity, the demand for industry 4.0 will continue to rise. This factor will help in creating lucrative opportunities for private LTE devices and solutions.
Cisco Systems, Inc; Telefonaktiebolaget LM Ericsson; Huawei Technologies Co., Ltd.; Samsung Group, Verizon Communications, Inc.; CommScope Inc; NetNumber, Inc.; Star Solutions; and Sierra Wireless, Inc. are among the leading companies in the APAC Private LTE market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2020, Huawei’s 5G RAN gNodeB and LTE eNodeB have passed 3GPP’s Security Assurance Specifications (SCAS) test that was conducted by Network Equipment Security Assurance Scheme (NESAS). The tests include network product general security, air interface security, and basic vulnerability testing, such as data and information protection, air interface ciphering and integrity protection, robustness, and fuzz testing.
The report segments the APAC Private LTE market as follows:
APAC Private LTE Market – By Component
- Professional Services
- Managed Services
APAC Private LTE Market – By Type
APAC Private LTE Market – By End-User
- Energy & Utilities
APAC Private LTE Market – By Country
- South Korea
- Rest of Asia-Pacific
Contact Person: Sameer Joshi
Email Id: email@example.com