The global long-term evolution (LTE) market is projected to witness a CAGR of 29.51% during the forecast period to grow to US$155.520 billion in 2027 from US$25.449 billion in 2020.
The rapid spread of smartphones around the world has raised the average data usage of a person, resulting in a greater need to have LTE services, which is pushing the industry. The number of internet users has climbed from 4,156 million in 2017 to 5,251,737,363 on January 31, 2022, according to Internet World Stats.
The emerging interest in automation and control factories in a variety of industries, including automotive, manufacturing, and others, is driving the need for an efficient and low-cost internet. Rapid industrial growth and advancements in communication technologies are driving the deployment of wireless telecommunication infrastructure and solutions. As a result, service providers are being compelled to make significant investments in communication devices in order to improve network services around the world.
With the increasing global internet penetration rate, the demand for improved wireless technology is increasing among people in order to improve connectivity.
Long-term Global Market Trends
With the globalization of every part of business, many firms throughout the world are rising, as is the demand for data. Telecommunications businesses are investing heavily in new and sophisticated wireless technology, as well as looking for more profitable uses. Smaller firms have also highlighted a lack of adequate data access as a stumbling block to their expansion, which raises the necessity for high-speed internet connectivity.
LTE has a communication performance ranging from 30 Mbps to 100 Mbps, and LTE Advance has a frequency of up to 100 Mbps. Furthermore, the current era is an era of smart gadgets that give people access to the majority of computer features. The fundamental cause of the global acceptance of digital broadband access is the internet on devices such as mobile phones, phablets, smartphones, and mobile data cards. The demand for high-speed mobile wireless broadband has risen as a result of the implementation of a new mobile platform that enables video services, video calls, and a variety of other real-time functionality features.
Global Long-term Market Growth Factors
Increasing technological improvements and growing awareness of the same are acting as strong factors in the industry. Customers assume rapid, clean, and seamless records get the right of entry even with the usage of cellular broadband. These client’s needs are fantastically influencing the adoption of the LTE. Customers can expect a speed of approximately 30 Mbps from 4G LTE. In a few areas, 4G LTE may even exceed the maximum speeds of ADSL2+ broadband. The faster the records pace, the higher the verbal exchange of a tool with online websites through a browser or an application. Cellular customers are predicted to receive record download speeds of as much as a hundred Mbps and a constant 1 Gbit/s. Time constraints with 2G and 3G networks, which fall under LTE, are also compelling reasons for adopting 4G LTE.
The rising prevalence of emergency services LTE is anticipated to drive the overall market growth during the forecast period. Customers can communicate with services such as fire, police, and ambulances through certain public safety networks. These networks are intended to provide emergency assistance They must be extremely reliable and provide high-speed telecommunications services. Responders may coordinate, communicate, and operate together using 4G-LTE. This facilitates quick and precise decision-making while also improving public safety.
As an advanced development, 4G LTE is the most recent mobile broadband technology. The introduction of new applications and devices increased data traffic, and improved spectrum efficiency are all likely to boost LTE market growth. The growth of continuous video and audio streaming is projected to become a major market driver. Subscribers who have devices with 4G technology can stream video content without interruption, regardless of their location. Fixed-mobile convergence is possible with 4G technology, as well as policy-based real-time applications like switch dispatch, VoIP, two-way telephone, and texting with video clips.
Global Long-term Market Restraints
The spectrum limitation of the LTE service is provided in a specific band of high-frequency radio waves. The companies that provide this service are assigned a specific frequency band for operation. These frequencies are auctioned off by the government, and businesses need to be serviced in these frequency bands. As the demand for mobile communications increases, there is a shortage of bandwidth available for data transmission. This limited frequency availability is a challenge for manufacturers and carriers of LTE-enabled devices. This is hindering the growth of the LTE market.
Increasing technological advancements, such as the development of 5G technology, have proven to be one of the major obstacles to the growth of long-term evolutionary markets in the near future. With the continued growth of video streaming, games, and many other advanced mobile applications, the demand for more advanced internet connections is also increasing. 5G uses a higher frequency band compared to LTE networks, which helps maintain connectivity more effectively in busy environments. In addition, 5G has lower latency compared to LTE, allowing users to download and upload data much faster, improving network coverage.
Impact of COVID – 19
COVID 19 is expected to accelerate the adoption of LTE. For B2C and consumers, data consumption is expected to increase as social distance continues. Even as companies move to digital models and operate virtually, data consumption continues to climb, creating a demand for establishing a connectivity-centric ecosystem. In addition, telecommunications providers have begun investing in private LTE networks to reduce network congestion and improve the quality of service.
Global Long-term Market Segmentation:
On the basis of technology, the segment is divided into LTE OFDM (Orthogonal Frequency Division Multiplex), LTE MIMO (Multiple Input Multiple Output), and LTE SAE (System Architecture Evolution). The LTE SAE (System Architecture Evolution) dominated this segment. The ability to handle enormous volumes of data eventually improves network capacity for telecom companies, which can be readily addressed with NFV. The use of NFV in LTE Advanced Pro platforms also aids in the reduction of network congestion and the enhancement of huge bandwidth requirements, as well as the reduction of network expansion costs.
The Asia Pacific region is expected to achieve strong growth in the global Long-Term Evolution (LTE) market during the forecast period. The enormous number of smartphone users and the increase in digitalization have contributed to the significant growth of the long-term evolution market in the region. In addition, the progress of urbanization accompanying the growth of various industrial sectors is driving the growth of the long-term evolution (LTE) market in the region.
COVID 19 Impact:
COVID-19 has accelerated the adoption of LTE. For B2C and consumers, data consumption is expected to increase as social distance continues. Even as companies move to digital models and operate virtually, data consumption continues to climb, creating a demand for establishing a connectivity-centric ecosystem. In addition, telecommunications providers have begun investing in private LTE networks to reduce network congestion and improve the quality of service.
The global LTE market has grown to the partnership strategies of the competitors, and the demand for higher data transmission rates and more spectral efficiency has increased due to growing data usage. To diversify their portfolios, vendors in the industry offer cost-effective and distinctive items. The major market player is ZTE, SAMSUNG, FUJITSU, Cisco, Qualcomm, Aricent (now Altran), Nokia, Motorola Solutions, Inc., HUAWEI, Ericsson, Alcatel-Lucent, and Juniper Networks. In February 2020, Ethio Telecom announced the launch of state-of-the-art LTE services for the advanced mobile Internet. In this way, the company expanded the coverage of its existing limited LTE network to meet the growing customer requirements across local cities. In addition, the new advanced LTE mobile internet service helps improve the customer experience by providing reliable connectivity through outstanding download or upload data speeds and high-quality live streaming and increasing real-time video conferencing.
Frequently Asked Questions (FAQs)
Q1. What is the size of the global long-term evolution (LTE) market?
A1. Long-Term Evolution (LTE) Market was valued at US$25.449 billion in 2020.
Q2. What will be the long-term evolution (LTE) market size by 2027?
A2. The global long-term evolution (LTE) market is projected to reach a market size of US$155.520 billion by 2027.
Q3. What are the growth prospects for the long-term evolution (LTE) market?
A3. The long-term evolution (LTE) market is projected to witness a CAGR of 29.51% over the forecast period.
Q4. What factors are anticipated to drive the long-term evolution (LTE) market growth?
A4. Increasing technological improvements and growing awareness of the same are acting as strong factors in the long-term evolution (LTE) market growth.
Q5. Which region holds the largest market share in the long-term evolution (LTE) market?
A5. The Asia Pacific region is expected to achieve strong growth in the global Long-Term Evolution (LTE) market.
1.1. Market Overview
1.2. Covid-19 Scenario
1.3. Market Definition
1.4. Market Segmentation
2. Research Methodology
2.1. Research Data
3. Executive Summary
3.1. Research Highlights
4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Power of Buyers
4.3.3. The Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Function
4.4. Function Value Chain Analysis
5. Global Long-Term Evolution Market, By Mode
5.1. FDD (Frequency Division Duplex)
5.2. TDD (Time Division Duplex)
6. Global Long-Term Evolution Market, By Technology
6.1. LTE OFDM (Orthogonal Frequency Division Multiplex)
6.2. LTE MIMO (Multiple Input Multiple Output)
6.3. LTE SAE (System Architecture Evolution)
7. Global Long-Term Evolution, By Application
7.1. Audio/Video Telephony
7.2. Live TV
8. Global Long-Term Evolution, By End User Device
9. Global Long-Term Evolution, By Geography
9.2. North America
9.3. South America
9.5. Middle East and Africa
9.5.1. Saudi Arabia
10. Competitive Environment and Analysis
10.1. Major Players and Strategy Analysis
10.2. Emerging Players and Market Lucrativeness
10.3. Mergers, Acquisitions, Agreements, and Collaborations
10.4. Vendor Competitiveness Matrix
11. Company Profiles
11.6. Aricent (now Altran)
11.8. Motorola Solutions, Inc.
11.11. ALE International
11.12. Juniper Networks
Aricent( now Altran)
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