The Investment Case for European Mobile Private Networks

Altman Solon is a TMT global strategy consulting firm with expertise in telecommunications consulting. Following a presentation at our annual London Breakfast, Partner Federico Torri shares his insights on the investment opportunity in European mobile private networks.

Mobile private networks (MPNs) are dedicated mobile infrastructures that deliver connectivity and value-added services primarily for enterprise customers. These networks' stack includes macro sites, distributed antenna systems (DAS), small cells, and spectrum, and are primarily leveraged for advanced use cases like motion control, robotics, and automation.

We believe that MPNs are becoming an increasingly important telco trend for investors to watch as business-critical use cases come into maturity by the 2030s.

• We've identified 9 million business locations addressable by MPNs in Europe. Out of these 9 million locations, some 15,000 can be qualified as top-tier, including large venues, compounds, and industrial installations. These top-tier locations are mostly in manufacturing and industrial, ports and logistics, energy, healthcare, and municipal sectors.
• MPNs are expected to gain a competitive advantage over public networks for value-add enterprise use cases or where public network performance is poor or lower priority for users.
• The market for MPN service providers is fragmented. MPN specialists tend to focus on specific use cases or verticals and offer distinctive features.
• No player in the market offers a true end-to-end solution. However, MPN specialists are well-positioned to enter partnerships with different players (OEMs, system integrators) at various levels of the value chain (infrastructure, connectivity & network, applications & services), giving them a right to win.

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This topic was originally presented at our TMT Private Equity Breakfast in London, an annual event where our experts present trends and investment opportunities shaping the TMT industry.