5G and LTE Market Expected to Surpass $5 Billion by 2021
According to a new report, it is predicted that the 5G and LTE market grow more to more than $5 billion by 2021. The Private LTE & 5G Network Ecosystem Market: 2018 – 2030 – Opportunities, Challenges, Strategies, Industry Verticals & Forecasts report was also added to the ReportsnReports online database.
With the standardization of capabilities such as MCPTT (Mission-Critical PTT) by the 3GPP, Long Term Evolution (LTE) is increasingly being viewed as an all-inclusive critical communications platform for the delivery of multiple mission-critical services ranging from PTT group communications to real-time video surveillance, and organizations across the critical communications industry — from public safety agencies to railway operators — are making sizeable investments in private LTE and 5G-ready networks.
Expected to surpass $2.5 Billion in annual spending by the end of 2018, private LTE and 5G networks are increasingly becoming the preferred approach to deliver wireless connectivity for critical communications, industrial Internet of Things (IOT), enterprise and campus environments, and public venues. Estimates that the market will further grow at a Compound Annual Growth Rate (CAGR) of approximately 30 percent between 2018 and 2021, eventually accounting for more than $5 billion by the end of 2021. The report also presents forecasts for private LTE and 5G network infrastructure investments from 2018 until 2030.