North America Private LTE Market to grow at 15% CAGR by 2026: Graphical Research North America Private LTE Market Size to reach at USD 5 Billion By 2026.The North America private LTE market growth is attributed to expansive penetration of 5G networks and adoption of low latency devices in critical communication infrastructure. The regional companies offering private LTE solutions are partnering with technology enterprises to conduct infrastructure testing. For instance, in November 2019, Qualcomm Technologies Inc. and Siemens AG entered into partnership to develop and demonstrate private 5G standalone network for industrial environment. The companies jointly tested the private 5G network using 3.7-3.8GHz band. These collaborative initiatives are further contributing to the private LTE market growth. The infrastructure segment in the private LTE market in North America is expected to maintain its dominance over the forecast period, from 2020 to 2026. The growth is attributed to the consistently increasing higher bandwidth requirements and cellular infrastructure in the region. The companies deploy wireless backhaul networks for interconnecting the cellular base stations regardless of the distance or infrastructure. The backhaul networks are gaining immense popularity among the MVNOs who prefer these networks to offer services in remote areas.
The managed service segment in the North America private LTE market is projected to hold above 30% share by 2026 with a CAGR of above 20.0%. The need to simplify the complex enterprise network infrastructure and enhance the network efficiency is enabling the demand for managed services from enterprises. The companies across the region are outsourcing the responsibility to manage & maintain the internal infrastructure. The managed service providers increase consumer’s expectation by augmenting network coverage and improving business performance. This also helps companies to ensure efficiency throughout infrastructure workflows and focus on primary business processes. The need to ensure safety of the workforce and resiliency in critical industrial applications is contributing to the adoption of private LTE network solutions across the mining industry. The enterprises operating in the industry are transitioning to the remotely controlled or autonomous equipment. The equipment is helping companies to reduce fatalities in mining facilities. The growing adoption of remotely monitored and automated equipment will drive the demand for private LTE network across the mining sector, spurring the market growth. Canada is expected to grow exponentially in the North America private LTE market from 2020 to 2026. The market growth is attributed to the expansive deployments of 5G networks and supportive government investments.
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The companies operating in the private LTE market in North America are focusing on new product developments and innovations. For instance, in December 2020, Verizon launched its private network platform for enterprise customers called On-Site LTE. The launched platform facilitates dedicated, private and secure wireless network connectivity for mission-critical operations and applications. This launch helped the company to expand its private LTE offerings and strengthen the market presence. Browse key industry insights from this 2020 report North America Private LTE Market in detail along with the table of contents at:
http://bit.ly/3a0Aoyc
Segmentation of North America Private LTE Market:
North America Private LTE Market, By Component o
o
Product • Infrastructure • Device Service • Training & Consulting Service • Integration & Maintenance Service • Managed Service
North America Private LTE Market, By Application o o o o o o
Public Safety Defense Mining Transport Energy Manufacturing
The above information has been provided for the following regions and countries: o
North America • U.S. • Canada
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