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The backhaul segment held 30% of private LTE market share in 2021 due to shifting consumer demand toward 4G and LTE mobile connectivity. To deliver services in hard-to-reach markets, companies deploy wireless backhaul networks to interconnect cellular base stations regardless of the distance or infrastructure. Backhaul networks are gaining immense popularity among MVNOs who prefer these networks to offer services in remote areas.
The IoT module is predicted to attain a 25% growth rate till 2028 impelled by the rising acceptance of connected vehicles. These mobile IoT modules are used for various metering applications across utilities such as gas, water & electronics, wearable fitness & health technology, connected city streetlights & parking meters, asset tracking, and smart buildings & homes including surveillance & security alarms and smart waste management.
The private LTE market for training and consulting service segment accounted for 20% of revenue share in 2021. Growth is attributed to its ability to help organizations in transforming their networks, thereby leveraging the benefits of private LTE networks. Consulting services aid in the upgrading of networks and services, providing subscribers with improved connectivity and high data speeds. These services also improve the retainability, data speed, and accessibility of smartphone users, driving their market…
