North America Private LTE Market Developments and Forecast by 2028

The private LTE market in North America 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 US, Canada, and Mexico are major economies in North America. The increasing adoption of the Industry 4.0, industrial IoT, and automated technology are significantly fuelling the demand for private LTE market. The continuous advancements in connectivity is the key parameter positively influencing the market. Increasing connected devices in manufacturing sector are generating a huge amount of data, and these data need to be analyzed effectively for smooth business operations. The increasing investments in machine-to-machine (M2M) and traditional IoT have enabled a significant increase in the economies of scale that drive the adoption of private LTE across the sector.

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.

North America Private LTE Market Segmentation

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

North America Private LTE Market -Companies Mentioned

• Cisco Systems, Inc
• Telefonaktiebolaget LM Ericsson
• Huawei Technologies Co., Ltd.
• Samsung Group
• Verizon communications, inc.
• CommScope Inc.
• Future Technologies, Inc.
• NetNumber, Inc.
• Star Solutions
• Sierra Wireless, Inc.

North America Private LTE Report Scope