LTE and 5G NR-based CBRS Networks Market, Opportunity, Growth Drivers, Industry Trend Analysis and Forecast, 2024-2032

LTE and 5G NR-based CBRS Networks Market, Opportunity, Growth Drivers, Industry Trend Analysis and Forecast, 2024-2032

Global LTE and 5G NR-based CBRS Networks Market was valued at USD 1 billion in 2023 and is projected to grow at a CAGR of over 21% from 2024 to 2032. A primary driver of this market surge is the escalating demand for private cellular networks. For example, in March 2023, Toyota Material Handling transitioned from Wi-Fi to a private 5G network at its Columbus factory. This upgrade was motivated by the need for superior connectivity for Industry 4.0 applications, including IoT-driven predictive maintenance and fleet management. The deployment, executed by Ericsson and STEP, underscores the increasing appetite for private cellular networks, aiming to enhance operational efficiency and security in industrial environments.

Moreover, the push for denser mobile networks plays a pivotal role in the expansion of LTE and 5G NR-based CBRS networks. As urban centers and high-traffic areas face surging data demands, there is an urgent need to bolster network capacity and coverage. This urgency drives the deployment of small cells and distributed units, ensuring strong connectivity and uninterrupted service.

The overall industry is divided into infrastructure submarkets, air interface technology, application, and region.

The market is segmented based on infrastructure submarkets, including Radio Access Network (RAN), Mobile Core, Transport Network, Small Cell Radio Units (RUs), and Distributed and Centralized Baseband Units (DUs/CUs). RAN, accounting for a dominant 40% share in 2023, plays a crucial role in shaping the infrastructure and performance of LTE and 5G NR-based CBRS networks. Its prominence is further amplified by its capability to deliver vital connectivity and support a myriad of applications and services.

In terms of air interface technology, the market is divided into LTE and 5G NR categories. The LTE segment led the market in 2023, commanding a substantial 76% share. This technology's continued dominance in the air interface sector is bolstered by consistent investments and upgrades aimed at broadening network coverage and refining service quality. Factors, such as widespread deployment, a well-established infrastructure, and relentless technological advancements will further solidify LTE's strong market position.

North America emerged as the front runner in the global LTE and 5G NR-based CBRS networks market, capturing a significant 39% share in 2023. Particularly notable is North America's ascent in the Fixed Wireless Access (FWA) domain. The region's leadership is anchored in its robust infrastructure, adept at supporting both 4G LTE and 5G Sub-6GHz networks, ensuring high throughput and dependable connectivity. With the relentless demand for high-speed internet, North America's strategic investments in cutting-edge FWA technologies for catering to both residential and business needs, further cement its dominant market position.