According to the research report titled ‘North America Private LTE Market Size By Application, By Component, Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2020 – 2026’, available with Market Study Report, North America private LTE market is touted to expand considerably over 2020-2026.
 

As per industry experts, increasing penetration of 5G networks, coupled with rising adoption of low latency devices in critical communication infrastructure are impelling North America private LTE market growth.
 

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Apparently, several prominent service providers in the region are collaborating with technology companies for conducting infrastructure testing. Therefore, such strategic partnerships and collaborative initiatives are further propelling industry expansion. 
 

Citing an instance, in November 2019, Siemens AG and Qualcomm Technologies Incs initiated a joint venture for collectively demonstrating and developing a private 5G standalone network for industrial environments.
 

Based on component, infrastructure segment is expected to emerge as a major contributor to North America private LTE market valuation during the analysis timeframe. Rising high bandwidth requirements among customers, escalating demand for cellular infrastructure, and shifting preferences of MVNOs (mobile virtual network operators) towards backhaul networks for providing service in remote areas are boosting the growth of the segment.
 

On the other hand, managed service component segment is anticipated to register a robust CAGR of 20% over 2020-2026, subsequently accounting for 30% of the overall market share. Rising need for simplifying complex enterprise network infrastructure as well as enhancing network efficiency are impelling the adoption of managed services.
 

Elaborating on application spectrum, North America private LTE market is slated to amass substantial returns from the mining sector over 2020-2026. Growing focus towards enhancing safety of workforce in critical industrial applications, rising occurrence of fatalities in mining facilities, and increasing adoption of remotely monitored and automated equipment will continue to stimulate the expansion of the segment.
 

From a geographical perspective, Canada private LTE market share is predicted to grow exponentially during the stipulated timeframe, on account of rapid development of wireless infrastructure, widespread deployment of 5G networks, and favorable government funding.
 

Key participants of the industry are Boingo Wireless Inc., AT&T Inc., Casa Systems Inc., Future Technologies Venture LLC, Cisco Systems Inc., General Dynamics Corporation, NetNumber Inc., Motorola Solutions Inc., pdvWireless Inc. (rebranded as Anterix), Rivada Networks LLC, Qualcomm Inc., Ruckus Networks, SpiderCloud Wireless Inc., and Sierra Wireless.