U.S. Private LTE & 5G Network Market Trends and Revenue Forecast by Regions 2027

Felton, California , USA, Nov 18, 2020 — /EPR Network/ — The U.S. private LTE and 5G network market size is estimated to touch USD 5.68 billion by 2027. The market is projected to grow at 17.0% CAGR over the forecast duration. The report emphasizes on 5G industry regulations, private network use cases, upcoming trend and the LTE networks. Furthermore, the report offers market estimation, in-depth analysis and potential customers from major industry verticals such as heavy machinery, manufacturing, healthcare, retail, food & beverages, smart cities, pharmaceuticals and others. Factors such as the advent of industry 4.0, smart cities construction and increasing adoption and integration of IoT applications are driving the market growth.

Get Free PDF Sample Copy of the Report (Including Full TOC, List of Tables & Figures, Chart and Covid-19 Impact Analysis): https://www.millioninsights.com/industry-reports/us-private-lte-5g-network-market/request-sample

Impact of COVID-19

The market has been affected negatively due to the COVID-19 outbreak. The country is one of the worst hit in terms of COVID-19 spread, which led to the closure of various industrial operations in the second and third quarter of 2020. In addition, deployment of 5G technology has been delayed in the country owing to disruption in the supply chain.

However, the healthcare industry has witnessed the increased adoption of private LTE and 5G network. Following the shortage of workforce in the healthcare industry, telehealth and remote monitoring of patient become the need of the hour, which in turn, led to increased adoption of high-speed connectivity in the sector. In addition, the market is projected to register considerable growth in the near future, as automation will become a major driving force for various industries post-COVID-19.

Industrial automation has gained traction in the United States following the advent of industry 4.0. Smart technologies used in the industries include 5G, Industrial IoT and high-resolution cameras to facilitate various operations. In addition, sensors deployment has been on the rise in manufacturing industries. Thus, above-mentioned factors are estimated to proliferate the demand for high-speed internet connectivity, as a result, projected to supplement U.S. private LTE & 5G network market growth.

The demand for a private network is gaining traction over a public network in various industrial applications owing to enhanced security, low latency, high-speed and reliability. Various end-user industries are already equipped with a private network. With the help of system integrators, they can easily upgrade their network system to 5G at a low cost. 5G technology is projected to transform the way industries are witnessing automation today. However, COVID-19 pandemic is expected to delay the installation of 5G infrastructure, thereby, hindering the market growth to some extent.

Further key findings from the report suggest:

  • COVID-19 has led to a shortage of workforce in the healthcare sector, as a result, the industry is witnessing increased adoption of private network & 5G technology to provide telehealth and remote monitoring services using high-speed connectivity.
  • The government of the United States has banned Chinese 5G technology equipment providers. This has resulted in an increased challenge for domestic players to cater to the increasing need.
  • In 2019, the manufacturing segment held approximately 20% share in the market. Further, the segment is likely to witness significant growth over the forecast duration.
  • The transportation & logistics segment is anticipated to register considerable growth owing to the surging number of warehouses in the United States.

Top Key players profiled the U.S. Private LTE & 5G Network Market report include : Mavenir, Verizon Communications, Altiostar, Broadcom Inc., Nokia Corporation and T-Mobile USA, INC. among others

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