We discuss digital transformations in this blog frequently, and one exciting, relatively new transformation gaining more and more attention is private LTE for enterprises. According to Allied Market Research, the market size for global private LTE in 2020 was $4.29 billion and is projected to grow at a compound annual growth rate (CAGR) of 13.9 percent to reach almost $11 billion by 2027.
The fact is, 2022 is being viewed by some in the industry as the “year that private network adoption will accelerate.”
As more organizations that have tested private LTE have since adopted it successfully, others are trusting this technology and jumping directly into implementations and use of the capabilities it provides—and experiencing the benefits it can deliver.
The promise of improvements in network and security performance combined with lower data costs is making private LTE an attractive solution for oil, gas, energy, and utility organizations, just to name a few interested enterprises. Internet of Things (IoT) devices such as smartphones and smart tablets, often used by the service teams for these industries, benefit in such deployments from faster data transfer, the ability to use multiple devices, and lower latency—and at a lower cost than with traditional public cellular networks.
One U.S.-based energy utility company recently underwent a feasibility study and evaluation and concluded that the technology and cost benefits of private LTE made good business sense for its operations. The IT organization determined it needed performance assurance and visibility into this project during planning and rollout to stay ahead of potential problems and troubleshoot issues that could impact employees, customers, billing, service, and other applications and digital communications.
Learn more about how this energy utility plans to leverage NETSCOUT’s solutions for service assurance across its new private LTE ecosystem.