NEEDHAM, Mass.–(BUSINESS WIRE)–#IDCForecast–Worldwide revenues for private LTE/5G infrastructure will reach $5.2 billion in 2027, according to a new forecast from International Data Corporation (IDC). This represents a compound annual growth rate (CAGR) of 21% over the 2023–2027 forecast period. Worldwide market revenue for both LTE and 5G in 2022 was just over $1.9 billion.
“The private cellular networks market continues to show promise, as both LTE and 5G are being rolled out to address enterprise and industrial challenges. Notably, LTE remains a key contributor across both the utilities and mining sectors to provide mobile coverage over large grids. However, 5G is starting to see more traction within the manufacturing, warehousing, and logistics verticals, where we expect the bulk of growth to occur over the forecast period,” said Patrick Filkins, research manager, IoT and Telecom Network Infrastructure.
The report, Private LTE/5G Wireless Infrastructure Forecast, 2023-2027 (IDC #US50863623), presents IDC’s annual forecast for the private LTE/5G wireless infrastructure market. Revenue is forecast for RAN, core, and transport. The report also provides a market overview, including drivers and challenges for technology suppliers, communications service providers, systems integrators, and cloud providers participating in the market.
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