The global LTE market is estimated to account for US$ 63,225.1 Million by 2027
LTE Market, By Connectivity Type (Wired and Wireless), and By Application (Commercial and Personal) – Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2018-2026.
Market Overview:
refers to the next generation in mobile phone networks. It is expected to offer faster Internet connection speeds with more reliability than the current networks. The aim of any networking technology is to provide fast Internet access to users and this is one of the reasons why the developers of this network are spending lots of time and money in developing the technology.
A network must offer features defined by ITU-IETA in IMT Advanced. The other important feature of a good network provider is its compatibility with a variety of mobile devices. It must have the required coverage area so that it can serve the people well. It must also have the in-built capability features to meet the changing needs of the users. Thus, a good network provider provides a wide range of services to its customers.
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Competitive Landscape:
Major players operating in the global LTE market include – AT&T Inc., Huawei Technologies Co. Ltd., Verizon Wireless, Nokia Solutions and Networks B.V., Sprint Corporation, Alcatel-Lucent, T-Mobile US Inc., LM Ericsson, China Mobile Ltd., and Bharti Airtel Ltd.
Key Market Drivers:
Increasing smartphone usage in the world is the main factor that is expected to boost the growth of the global LTE market. For instance, according to Bank MyCell, in 2021 there were around 3.6 billion smartphones in the world and around 61.85% population in the world use smartphones. GSM cell phones are equipped with a modem and the latest mobile phones use a SIM card for both telephone communications as well as data transmission.
The cell phone network services have evolved over the period of time and there has been a lot of technological innovation that is implemented in the modern mobile phone. One of the upcoming and next-gen mobile phones is GSM, which stands for Global Systems for Mobile Communication. GSM is the latest fourth generation of mobile phone technology. It is supposed to replace CDMA and TDMA technologies. Increasing product and service launches by key market players are estimated to propel the growth of the global LTE market.
Covid-19 Impact Analysis:
Increasing COVID positive cases in the world is the main factor, which impacted the growth of the global LTE market. For instance, according to Our World in Data, in November 2020, the 7-day average of COVID positive cases in Italy was around 35,073. Moreover, owing to work from home demand for faster networks has also and had a significant effect on the global LTE market.
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Regional Landscape:
North America (United States, Canada)
Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
Latin America (Brazil, Mexico, Others)
The Middle East and Africa (Saudi Arabia, United Arab Emirates, Turkey, Egypt, South Africa, Nigeria)
Key Takeaways:
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The global LTE Market was accounted for US$ 610.7 Mn in terms of value in 2019 and is expected to grow at CAGR of 78.6% for the period 2020-2027.
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North America is expected to hold a major share of the global LTE market, owing to the increasing usage of smartphones in the region. For instance, according to GSM Association, in 2021, there were around 290 million smartphone users in the United States.
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Asia Pacific is estimated to witness high growth in the global LTE market, owing to the prevalence of smartphone users in developing nations. For instance, according to GSM Association, in 2020 there were more than 748 million smartphone users in India.
Market Scale and Segment Analysis:
- Global LTE Market, By Technology:
- LTE -FDD
- TD-LTE or LTE-TDD
- LTE Advanced
- Global LTE Market, By Components:
- Infrastructure
- Chipsets
- Terminal Equipment
- LTE Testing Equipment
- Network service providers
- Global LTE Market, By Services and Applications:
- Mobile Cloud Services
- M2M and Connected Devices
- P2P messaging
- Browsing
- Public Safety LTE
- Games
- TV/Video-on-Demand
- Music
- M-commerce
- VoLTE
Continue….
Some of the important questions answered in this report include:
What are the top five LTE Market players?
What will the LTE Market look like in the following years?
Which product and application will dominate the LTE Market?
What are the LTE Market’s drivers and restraints?
Which regional market will represent the highest growth?
What will be the CAGR and market size of the LTE Market over the forecast period?
What is the present market size, what will it be in 2029, and what will be the growth rate?
What are the constraints to market growth?
What market opportunities and risks do the key companies face?
Who are the main competitors, and what is their strategic approach?
What are the market’s entry challenges for new players?
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