According to Mobile Experts, by 2029, the market for Private Cellular Services will triple from US$1.7 billion to US$5.5 billion.

The report highlights network slicing as a way for mobile operators to support a managed private cellular network directly.

In many cases, the operator will be able to set up a network slice for a customer without deploying additional radio infrastructure.

For this reason, network slicing will be the strongest growth element in the private cellular service area, according to Mobile Experts.

"The business model for Private Cellular Services will change over time," said Kyung Mun, Principal Analyst at Mobile Experts.

"Today, most private cellular networks are set up for large enterprises that prefer a CAPEX model, but over time we see the market migrating to support of many small businesses and a pay-as-you-go model.

"This trend will be strongest in vertical sectors like Logistics, Healthcare, and Retail."

Mun said other verticals, such as Manufacturing, Utilities, and Government will focus more on local control and dedicated infrastructure.

"But there's always a critical component needed in IT/OT integration and local customisation like hardened zero-trust security," said Mun.

"Our discussions with system integrators, suppliers, and customers confirm that the opportunity for integration services will explode over the next few years."