The market is estimated to grow at a CAGR of 10. 7% from 2021 to 2028. The advent of IoT has enabled each device to be connected over the internet and its rise in adoptions would result in billions of devices connected over the internet in coming years.
New York, July 09, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "North America Private LTE Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Component, Type, and End- user" - https://www.reportlinker.com/p06103281/?utm_source=GNW
These devices are bound to generate huge amounts of data. On top of the growth in mobile broadband data, new use cases will also evolve that are Fixed Wireless Access, Massive IoT and Critical IoT. These evolutions will further increase the data traffic. The capabilities of existing network infrastructures have propelled telecommunication service providers and carrier operators along with various telecommunication bodies across the world to develop a standard that would support the splurge of data. As private LTE operates over a high frequency spectrum, it enables connection of large number of devices over the network. Additionally, rise in adoption of IoT in manufacturing sector drives the growth of the North America private LTE market.
Based on component, the services segment led the North America private LTE market in 2020.Private LTE vendors provide various services to their clients to facilitate end-to-end implementation of private LTE.
These services offer faster deployment, cost reduction, network consultation, site survey, engineering design services, project management, equipment procurement, field deployment services, and network integration.
The US is among the worst hit countries due to COVID-19 outbreak.The US, Canada, and Mexico have recorded a significant rise in the number of COVID-19 infected patients.
Therefore, governments imposed lockdowns to limit human movement.Thus, manufacturing facilities are experiencing lower than usual production volumes.
The US is one of the largest markets for private LTE, especially due to the widespread base of industrial and manufacturing sectors.As the activities of aforesaid sectors have been stopped for a few months, the production and distribution of private LTE devices in the region are disrupted.
However, with an ease on government measures and recommence of manufacturing activities, the manufacturing units are getting commenced gradually. This is positively impacting the production of LTE devices. In October 2020, Verizon introduced 5G Nationwide Network for more than 2,700 cities across the US. Such developments by leading players bolsters the growth of the North America private LTE market.
The overall North America private LTE market size has been derived using both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market.
The process also serves the purpose of obtaining an overview and forecast for the North America private LTE market with respect to all the segments pertaining to the region.Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic.
The participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the North America private LTE market. 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 players operating in the market.
Read the full report: https://www.reportlinker.com/p06103281/?utm_source=GNW
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