According to the research report titled ‘Asia Pacific Private LTE Market Forecast 2026 By Component, By Application, Research Report, Country Outlook, COVID-19 Impact Statistics, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share’, available with MarketStudyReport, Asia Pacific private LTE market is expected to account for USD 2.5 billion by the year 2026.

Favorable government initiatives, surging smartphone users, and rapid growth in M2M communications are some of the major factors driving the expansion of the Asia Pacific private LTE market.

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Despite the slump witnessed during the COVID-19 outbreak, the demand for solutions has been gaining momentum given the accelerated reliance on digital platforms and reliable connectivity, further pushing the adoption of private LTE solutions in the region.

Based on the application spectrum, the market is segmented into public safety, mining, defense, transport, energy, and manufacturing. Out of these, the defense segment is projected to record 25% CAGR through 2026, ascribed to surging investments from extending government budgets toward next-gen wireless network deployment and rising advanced technologies with faster connectivity.

In terms of devices type, Asia-Pacific private LTE market share from the IoT modules segment is anticipated to record over 25% CAGR during the study period, owing to the rising long-range connectivity requirements.

Regionally, Japan market size is expected to grow substantially over the forecast period, on account of the increasing requirement for public safety LTE or PS-LTE applications as well as real-time audio and video services.

The prominent players influencing the Asia Pacific private LTE market are Tait Communications, Sierra Wireless, Samsung Electronics Co. Ltd., Ruckus Networks, Qualcomm Technologies Inc., NetNumber Inc., Motorola Solutions Inc., General Dynamics Corporation, Cisco Systems Inc., Casa Systems Inc., Boingo Wireless Inc., and AT&T Inc.