16 Oct United States Private LTE & 5G Network Market Size, Share & Trends Analysis Report 2020-2027 – ResearchAndMarkets.com
DUBLIN–(BUSINESS WIRE)–The “U.S. Private LTE & 5G Network Market Size, Share & Trends Analysis Report by Component (Hardware, Software, Services), by Frequency, by Spectrum, by Vertical, and Segment Forecasts, 2020 – 2027” report has been added to ResearchAndMarkets.com’s offering.
The U.S. private LTE & 5G network market size is anticipated to reach USD 5.68 billion by 2027, expanding at a CAGR of 17.0% from 2020 to 2027.
This report focuses on the private 5G use cases, the LTE and 5G industry’s regulatory scenario, upcoming trends in various spectrums, and private 5G network providers. Furthermore, the report provides in-depth analysis, market estimations, private network use cases, and potential customers on the key verticals such as manufacturing, automotive, electrical and electronics, food and beverages, pharmaceuticals, heavy machinery, clothing and accessories, energy and utilities, transportation and logistics, defense, public safety, enterprises and campus, public venues, mining, healthcare/hospitals, oil and gas, retail, agriculture, and smart cities.
The rising adoption of a private network for the Internet of Things (IoT) applications, industrial use cases, and the Industry 4.0 revolution are some of the critical factors responsible for the market growth in the U.S. The companies are moving towards Industry 4.0 by modernizing and automating industrial operations using modern and smart technologies. Some of these include the Industrial Internet of Things (IIoT), 5G, smart factory, and interoperability.
Industry 4.0 makes use of highly intelligent, automated, and collaborative cyber-physical systems that require robust wireless connections with low latencies. As a result, numerous organizations and factories from energy, logistics, automotive, mining, and power sectors adopt private 5G & LTE networks. Further, the deployment of plenty of Industrial IoT (IIoT) and other sensor-based applications in the manufacturing industry vertical is expected to boost the demand for private 5G network adoption over the forecast period.
The companies are extensively preferring the private networks over public networks on account of various benefits such as low latencies, ultra-high-speed, enhanced security, network reliability, and the ability to customize and upgrade the network effectively. The end-users already having legacy private network infrastructure at their premises can directly procure 5G software stacks from software vendors or system integrators and install them into their current servers. This helps clients completely transform their present network into the next generation private 5G network at reduced costs.
The new private 5G network installations and network infrastructure upgrades are the crucial factors that will drive the market over the forecast period. However, the ongoing impact of the COVID-19 pandemic and staggering 5G deployment is expected to hinder the overall market growth over a short period. Further, the small and medium companies in the low-income markets and outskirts areas of the U.S. cannot meet the massive capital investments required to build a reliable private connectivity infrastructure. Therefore, the lack of positive response from such firms is anticipated to hinder the market’s steady growth.
The market players gain competitive advantage by making large investments towards 5G deployment and acquiring new private 5G installations from various industries such as healthcare, logistics, manufacturing, and others. The network operators, including AT&T, T-Mobile, and Verizon, have influential positions in the LTE connectivity space in the U.S..
The primary network providers such as Ericsson and Nokia have already invested considerably towards the 5G and LTE technologies and infrastructure, thereby gaining a stronghold on the market for private LTE and 5G network.
U.S. Private LTE & 5G Network Market Report Highlights
Amidst the COVID-19 pandemic, the healthcare industry is suffering from inadequate healthcare personnel to care for patients. As a result, the hospitals and healthcare facilities are upgrading to private LTE and 5G networks to enhance their telemedicine and remote patient monitoring abilities
The private LTE and 5G networks are expected to improve the operating excellence in the industrial facilities by enabling the integration of IIoT in various devices and equipment
The U.S. government has banned Huawei Technologies, Co, Ltd, a China-based 5G equipment provider, and system integrator, to deploy its 5G equipment across the country. As a result, the 5G companies and telecom operators face challenges in private 5G network deployment through partnerships and collaborations
Customers are highly focused on implementing private 5G networks with ultra-low latency and fast data transfer speeds, thereby enabling smart factories that utilize Augmented Reality (AR), Artificial Intelligence (AI), and advanced robotics for operations
The manufacturing segment has accounted for around 20% of the market revenue share in 2019, and it is anticipated to expand at a significant CAGR from 2020 to 2027. Numerous manufacturing companies are expected to move towards automation and adopt technologies such as the IIoT, robot assistance, and digital twins by installing private 5G networks
The transportation and logistics segment is also anticipated to exhibit a high CAGR from 2020 to 2027 due to the significant increase in the number of warehouses in the U.S. and the surging adoption of autonomous robots in the warehousing facilities
Market Variables, Trends & Scope
The U.S. Private LTE and 5G Network Market – Value Chain Analysis
The U.S. Private LTE and 5G Network Market Dynamics
Market Driver Analysis
Increased adoption of private LTE and 5G network for IoT applications
Rising implementation of highly secured Private 5G network infrastructure across several enterprise and industrial use cases
Market Restraint Analysis
Lack of adoption of Private 5G & LTE from Small and Medium Companies in the low-income markets
Market opportunity Analysis
Private LTE & 5G network for long term growth of industry 4.0
The U.S. Private LTE and 5G Network Penetration & Growth Prospects Mapping
Covid-19 Impact Analysis
Key Use Case Analysis
Automated Guided vehicles (AGV)
Industrial sensors and Heavy Machinery Automations
Predictive Maintenance and Analytics
Remote Patient Monitoring & Diagnosis
Public Safety and Emergency Services
5G Current and Upcoming Spectrum Scenario
5G Regulations & Policies
Cisco Systems, Inc.
HUAWEI TECHNOLOGIES CO., LTD.
Samsung Electronics Co., Ltd.
Telefonaktiebolaget LM Ericsson
T-Systems International GmbH
Vodafone Group Plc
For more information about this report visit https://www.researchandmarkets.com/r/g2tx77.
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