North America is among the worst hit regions by COVID-19. The US, Canada, and Mexico have witnessed a significant rise in the number of COVID-19 infected patients. 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.
With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the private LTE market. The North America private LTE market is expected to grow at a good CAGR during the forecast period.
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 1014.42 Million |
| Market Size by 2028 | US$ 2,064.48 Million |
| Global CAGR (2021 - 2028) | 10.7% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Component
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |