Private LTE and 5G Networks in US Will See Rapid Growth: Report
Annual spending on private LTE and 5G networks in the U.S. will surge at a compound annual growth rate of 18% between 2024 and 2027, accounting for more than $3.7 billion in spending by the end of 2027, a ResearchAndMarkets.com…
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report said Monday. “With the availability of new spectrum options and 5G technology, the market is gaining mainstream adoption with deployments of all shapes and sizes," it said. Although initially dominated by LTE, “commercial deployments of private 5G networks are starting to gain significant traction in industrial and enterprise settings.” Major examples cited in the report include deployments at Walmart distribution centers; Tesla's Gigafactory Texas; at various facilities of other automakers such as BMW Group, GM and Toyota; LG Electronics' Clarksville, Tennessee, home appliance manufacturing plant; Delta Air Lines' Atlanta operating hub; Dallas Fort Worth International Airport; and the Port of Virginia's container terminal.