North America Private LTE Market is expected to reach US$ 7254.97 million by 2028

Services Segment to Dominate North America Private LTE Market during 2020–2028.

  According to a new market research study on “North America Private LTE Market to 2028 – COVID-19 Impact and Analysis and Forecast by: Component, Type, and End- user,” is expected to reach US$ 2,064.48 million by 2028 from US$ 1014.42 million in 2021. The market is estimated to grow at a CAGR of 10.7% from 2021 to 2028. The report provides trends prevailing in the North America private LTE market along with the drivers and restraints pertaining to the market growth. Rise in adoption of IoT in manufacturing sector is the major factor driving the growth of the North America private LTE market. However, issues associated with the rise in exploitation of IoT devices hinder the growth of North America private LTE market.

The North America private LTE market is segmented into component, type, end-user, and country. Based on component, the market is segmented into solution and services. The services segment dominated the market in the year 2020 and is also expected to be the fastest growing during forecast period. Based on type, the market is segmented into FDD and TDD. The FDD segment dominated the market in year 2020 and TDD segment is expected to be the fastest growing during the forecast period. Based on end- user, the market is segmented into manufacturing, energy & utilities, healthcare, transportation, mining, and others.  The manufacturing segment dominated the market in year 2020 and transportation segment is expected to be the fastest growing during the forecast period.

The US is among the worst hit regions by COVID-19. The US, Canada, and Mexico have witnessed a significant increase in the number of COVID-19 infected patients during 2020. This led the governments to impose lockdowns to limit human movement, thereby leading the manufacturing facilities to experience lower than usual production volumes. The US is one of the largest markets for private LTE, especially due to widespread base of industrial and manufacturing sector. As the activities of aforesaid sectors have been stopped for few months, the production and distribution business of private LTE devices in the region had reduced. However, with ease on government measures on bans and recommence of manufacturing activities, the manufacturing units are getting commenced gradually. This will positively impact the production of LTE devices. Also, companies such as Verizon in October 2020, has introduced 5G Nationwide Network for more than 2,700 cities throughout the US. Such developments by leading players will help in positively contributing towards the market growth.

Cisco Systems, Inc; Telefonaktiebolaget LM Ericsson; Huawei Technologies Co., Ltd.; Samsung Group; Verizon Communications, Inc.; CommScope Inc.; Future Technologies, Inc.; NetNumber, Inc.; Star Solutions; and Sierra Wireless, Inc. are among the leading companies in the North America Private LTE market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2021, Cisco is enriching the 5G network infrastructure with the aim to help communication service providers and web-scale companies to provide high speed internet connectivity services to their users across the globe.

The report segments the North America Private LTE market as follows:

 North America Private LTE Market – By Component

• Solution
• Services
  • Professional Services
  • Managed Services

North America Private LTE Market – By Type

• FDD
• TDD

North America Private LTE Market – By End-User

• Manufacturing
• Energy & Utilities
• Healthcare
• Transportation
• Mining
• Others

North America Private LTE Market – By Country

• US
• Canada
• Mexico