Private LTE Market for Mining Sector Will Grow At A CAGR of 33% by 2024

The global Private LTE Market is slated to garner quite some returns in the coming years primarily driven by the humongous proliferation of connected devices that excessively demand reliable and secured communication solutions. LTE networks offer a slew of opportunities and play an important role in connecting industrial systems and broadening the avenues of customer interaction and service delivery.
Private LTE market is gaining momentum with the increase in deployments for various use cases such as enterprise IIoT applications, defense, transportation, energy and mining. A dedicated network enables organizations to control their own networking environment, customize it as per their requirements and ensures more coverage. For instance, in the critical communications industry, LTE has emerged as one of the most widely adopted networks.
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The network enables the use of various applications such as live streaming during emergency situations or directing mission-critical assets. The agencies are rapidly embracing dedicated networks to ensure a coordinated response, offer actionable data insights and to enhance situational awareness. Private LTE is also gaining popularity in mission-critical airport communications to enable operators to have a secure control over a smart airport network.
The IoT modules segment in private LTE market is projected to grow at a CAGR of around 35% over the forecast timeline. The rapid adoption of these modules is supported by the growing IoT and M2M applications that require such devices that allow physical objects to connect to wireless networks. The growing usage of IoT platforms in smart city application will also drive the growing adoption of IoT modules.
The EPC segment held a majority share accounting for nearly 40% in the private LTE market in 2017. Growing adoption of private LTE among organizations increases the demand for EPC to address the CAPEX concerns while establishing dedicated networks. The EPC solution helps to speed up real-time information uploads and transfers with covered voice and data communications suitable for small and medium-sized networks. As networks are becoming more complex with the introduction of next-generation wireless technologies, the demand for EPC solution to manage the network payload will increase.
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The mining sector is estimated to register an impressive CAGR of over 33% in the private LTE market between 2018 and 2024. The technology helps the industry in automating key mining functions to gain operational efficiencies. These networks offer the low latency needed to operate the autonomous systems such as drills and drones in harsh, remote environments.
North America private LTE market is estimated to hold the largest market share of over 40% by 2024 due to the growing need for high-speed and low latency network for mission-critical communications and industrial IoT applications. For instance, in June 2017, Redline and Future Technologies partnered to offer Redline's mobile LTE product line to the military customers of Future Technologies. Under the partnership, both the companies executed their commercial LTE pilot for a military customer for use in disaster recovery and tactical deployments. Also, the penetration of smart connected systems in sectors such as transportation, manufacturing, and public safety is expected to increase the demand for private LTE networks.
Private LTE market colossuses including Nokia, AT&T, Qualcomm, Motorola, Huawei, Ericsson, Future Technologies, ZTE, Verizon, Samsung, Casa Systems, Druid Software, Cisco, NetNumber, Ruckus Networks, General Dynamics, Rivada Networks, SpiderCloud Wireless, Boingo, Tait, Sierra, and PDV Wireless have been actively striving to usher technological upgradations to change the face of the global networking landscape
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