LTE/5G Market Grows to $5.2 billion dollars

The private LTE/5G infrastructure market exceeded USD 1.9 billion in 2022. Over the next few years, its growth will continue to make headlines.

By 2027, IDC expects revenues to reach $5.2 billion, after a compound annual growth rate of 21% from this point.

“The private mobile network market remains promising as both LTE and 5G are being deployed to address business and industry challenges,” explains Patrick Filkins, research director for IoT and telecommunications network infrastructure.

“In particular,” he notes, “LTE remains a key contributor in the utilities and mining sectors to provide mobile coverage over large networks.”

And 5G? “It’s starting to see more traction within manufacturing, warehousing and logistics verticals,” as Filkins details. That’s where “most of the growth over the forecast period” should occur. That is, from 2023 to 2027.