Europe Private LTE Market size exceeded USD 700 million in 2019 and is anticipated to expand at a CAGR of 20% from 2020 to 2026. The rising demand for LTE solutions across public safety applications is driving the market growth.
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The European private LTE industry growth is attributed to the growing development of smart city projects. With growing smart cities, there has been a tremendous increase in the number of connected devices and sensors that utilize communication technologies to enable interaction between smart city objects. Smart cities’ applications are expected to drive the demand for next-generation networks, such as LTE, LTE-A, and Bluetooth, to support high transmission rates. For instance, the LTE-A technology is rapidly deployed in smart cities’ applications to meet networking requirements in terms of robustness, interoperability, and limited power consumption
European Market, By Component
The handheld terminal segment accounted a market share of over 40% in 2019. Handheld terminals enable intelligent collaboration and communication by connecting supervisors, executives, IT personnel, and field workers across businesses, meeting unique requirements of various industrial sectors including hospitality, mining, utilities, manufacturing, and related enterprise environments. They assist in delivering enhanced capabilities, which cannot be found in customer-grade smartphones. These devices also provide enhanced benefits by reducing downtime and maximizing business productivity.
European Market, By Application
The energy segment will register a growth rate of around 25% through 2026 due to the rising adoption of IoT devices across the energy sector. The adoption of private LTE solutions assists in connecting distributed grid assets to ensure low costs over wide areas, enhance bandwidth & spectral efficiency, and ensure that the grid and consumers’ data is always secure. In October 2018, Nokia deployed private LTE solutions for Brazil’s Elektro to strengthen the power grid efficiency and reliability. A few technology enterprises across various geographies are developing advanced networking solutions to support smart grid infrastructure.
European Market, By Country
The UK private LTE market held more than 30% revenue share in 2019 owing to the rising demand for 5G network. For instance, in June 2018, Vodafone announced 5G trials in seven cities across the UK. The company aims to test 5G applications including virtual and augmented reality in factories, offices, and hospitals. The UK market is growing at a fast pace due to changes in government policies for the adoption of secured Mobile Virtual Network Operator (MVNO), helping mobile core platforms to deliver broadband capabilities for critical communication users.
Competitive Industry Landscape
Some of the leading companies operating in the market include AT&T Inc., Boingo Wireless, Inc., Casa Systems, Inc., Cisco Systems, Inc., Druid Software, Telefonaktiebolaget LM Ericsson, General Dynamics Corporation, Huawei Technologies Co., Ltd., Nokia Corporation, Qualcomm Incorporated, Samsung Electronics Co., Ltd., and Sierra Wireless, Inc.
Industry players are emphasizing on strategic partnerships to develop innovative LTE solutions. For instance, in December 2018, Nokia partnered with Ukkoverkot, a leading 4G provider in Finland, to jointly developing private LTE solutions that cater to the needs of Port Authority of Finland. This helped the company to venture into the harbor network communications market with its first private LTE deployment carried out at the Port of Hamina-Kotka, Finland.