4G LTE Market Overview:
According to the recent report by Market Research Future (MRFR), the global 4G LTE market is slated to acquire a considerable market valuation at a steady CAGR over the review period.
This can be attributed to the various driving factors influencing market growth, such as the rapid adoption of smart devices like laptops, smartphones, tablets, among others. The technological advancements taking place in the IT, as well as the telecommunications sector, is expected to contribute substantially towards the revenue generation and growth of the global 4G LTE market over the assessment period.
The global 4G long-term evolution (LTE) market is expected to be valued at approximately USD 322.77 billion by 2023, estimates Market Research Future (MRFR). The market could achieve an impressive CAGR of 38% during the forecast period (2017-2023).
4G connectivity has emerged as a revolutionary trend within the telecom sector, acting as an advanced replacement for 3G connectivity. The 4G (fourth generation) mobile network technology gives way to a reliable connection that induces high-speed data transfer. The 4G LTE generally means fourth-generation long-term evolution that offers the quickest connection for a mobile internet experience. This data transfer is almost ten times faster than 3G mobile network.
The 4G LTE Market Size is expected to note strong growth in the near future, as numerous tasks associated with air traffic and road traffic are dependent on high-speed internet. Craze for high-speed internet for streaming movies and music stimulates market growth as well.
The global 4G LTE market also profits from elevated adoption of in-expensive smart devices like smartphone, tablets, and laptops, along with soaring demand for better connectivity among customers. On a different note, constant exposure to harmful radiations can slow down the market growth rate in the following years. However, the booming telecommunication industry across the globe will ensure a smooth run for the market during the evaluation period.
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The vendors that are leading the worldwide global 4G LTE market are MetroPCS (USA), AT&T (USA), Huawei Technologies Co. Ltd. (China), LM Ericsson (Sweden), Alcatel-Lucent (France), S.K. Telecom (South Korea), Verizon Wireless (USA), US Cellular (USA), Sprint Nextel (USA), Vodafone Group PLC (UK), Bharti Airtel Ltd. (India), to name a few.
• The 4G LTE market has been segmented in context to device-type, technology, connection plan, and organization size.
• The types of devices that make use of 4G LTE are smartphones, laptops, tablets, routers, wireless modem, and others.
• Depending on the technology, the market is split into LTE-FDD (frequency division duplex), LTE-TDD (Time-division duplex), LTE- advance, WiMax, HSPA+.
• In terms of the connection plan, the market is considered for pre-paid and post-paid.
• The sizes of the organizations that deploy 4G LTE are small & medium enterprises and large enterprises.
The global 4G LTE market is spread across the primary regions of North America, Europe, Asia Pacific (APAC), and The Rest of World (RoW).
North America has the highest chance of becoming the leading market for 4G LTE market in the given timeframe. The United States (U.S.) and Canada happen to be the most lucrative markets in the region, given the advanced spectrum efficiency that leads to repurposing of broadcast spectrum for broadband. Fast-paced adoption of ground-breaking technologies, as well as constant innovations in the region, benefits the market to a great extent. Apart from that, availability of massive funds for research and development along with the presence of a thriving
ICT sector paves the way for critical technological advancements within the region.
Asia Pacific can expect to achieve the fastest growth in the global 4G LTE market during the review period. India, South Korea, China, and Japan are at the vanguard of the 4G LTE market in the region. The commendable growth pattern in the region is the result of the rapid surge in demand for high-speed connectivity. The striking rise in the use of modern gadgets like laptops, smartphones, etc. in the region works in favor of the market. Not just this, but the market also profits from the keen interest shown by the international vendors in their businesses in APAC, because of the region’s growth potential.
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Nortek Security & Control recently launched Numera Libris 2, touted to be the next generation mobile personal emergency response (mPERS), and has 4G/LTE support. This solution has the ability to detect free-fall and features three-dimensional space analysis.
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