In the past decade, mobile networks have come a long way in terms of service, coverage, and efficiency. With the penetration of 4G into every corner of the world, the next step in technological evolution is 5G and a wide-spread roll-out of the service is expected in 2021.
On this premise, the growth prospects of the LTE & 5G market look bright. LTE & 5G technologies are offering users - both mobile consumers and large-scale enterprises - numerous benefits, which are expected to increase the demand post.
Advantages of 5G over 4G include higher upload and download rates, lower response time, high safety with multilevel data encryption, and deeper coverage.
The overall speed, reliability, and user-friendly roaming facilities of 5G are anticipated to proliferate the adoption of the technology.
Moreover, adopting LTE & 5G enables consumers to leverage numerous features including internet services, multimedia services, voice calls over Internet Protocol (VOIP), gaming services, video telephony, and mobile TV.
The aforementioned sectors cater to several sectors which ensures remunerative opportunities to the market.
LTE & 5G Market - Key Trends
Burgeoning sales of smart devices and growing emphasis on smart cities are the most lucrative trends driving the demand for LTE & 5G technologies. Emerging economies in Asia Pacific are focusing on developing smart cities, which is expected to impel the adoption of LTE & 5G in the years to come.
For instance, the Indian government in July 2019 announced US$1.2 Bn to develop smart cities in the country. Likewise, the initiative is also expected to bring in nearly US$ 1.9 Bn in the form of investments by private organizations.
Such developments and investments are expected to offer substantial revenue opportunities to LTE & 5G providers.
On the other hand, several industries ranging from oil & gas to manufacturing and utility to mining are upscaling their investments on technologies to expedite industrial processes that need higher bandwidth.
On these lines, the adoption of private LTE & 5G is also to invigorate the market.
LTE & 5G Market - Growth Restraints
The major challenge facing the LTE & 5G market is the lack of advanced devices that are compatible with 5G. From the consumer side, although the world has mostly upgraded to 4G, there are still regions that lag on the technological front.
Most of the devices that are currently in use are not compatible to leverage the advantages of 5G technology and an upgrade or purchase of novel devices is expensive. Likewise, the existing network infrastructure in the large-scale enterprise cannot support the high data rates.
As upgrading to 5G requires an investment on the consumer side, it is likely to hold back the growth of the market to a certain extent.
Covid-19 Impact on LTE & 5G Market
5G was earlier set for a wide-scale roll-out in 2020 but has been delayed in the wake of Covid-19 pandemic. Although the pandemic is not likely to adversely impact the market growth, it has certainly brought the trials and roll-out process to stand-still, thus delaying the consumer and business migration to 5G by a year.
Furthermore, the unavailability of components owing to the disruption of the supply chain is also limiting the deployment of 5G.
LTE & 5G Market - Region-wise Analysis
North America and the Asia Pacific are expected to lead the race in the LTE & 5G market owing to increased spending on technologies in the region, coupled with the presence of major market players.
Furthermore, high expenditure by governments of emerging economies such as Mexico, India, Indonesia, and Brazil is expected to boost the market growth in Latin America and the Asia Pacific.
Likewise, Western European countries such as Germany, France, and the U.K. are also expected to remain prominent regional markets for the LTE & 5G market.
The growth of the European region is attributed to high spending by enterprises on developments of network infrastructure coupled with growing expenditure by players on research.
LTE & 5G Market - Competitive Landscape
As a result of the pandemic, market players are utilizing the time to prepare for the massive deployment in the years to come. Moreover, players continue to invest significantly to enhance their services.
On these lines in 2017 and 2018, Huawei Technologies invested nearly US$ 1.4 Bn in 5G product development.
Some of the key players operating the market include:
- Alcatel-Lucent, Ericsson
- Huawei Technologies
- Nokia Solutions and Networks
- AT&T INC, Motorola Solutions Inc.
- NTT DOCOMO Inc.
- Samsung Electronics Co. Ltd.
- China Mobile
- Verizon Communications
The report on LTE & 5G Market covers exhaustive analysis on:
- Market Segments
- Market Dynamics
- Historical Actual Market Size, 2015 - 2019
- Market Size (Forecast 2020 to 2030)
- Supply and Demand Value Chain
- Market Current Trends/Issues/Challenges
- Competition & Companies involved
- Value Chain
- Market Drivers and Restraints
Regional analysis for LTE & 5G Market
- North America
- Latin America
- Asia Pacific
- Middle East and Africa.
Report on LTE & 5G Market
- Shifting industry dynamics
- In-depth market segmentation
- Historical, current and projected industry size
- Recent industry trends
- Key competition landscape
- Strategies of key players and product offerings
- Potential and niche segments/regions exhibiting promising growth
- A neutral perspective towards market performance
- The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts, and industry participants across the value chain.
- The report provides an in-depth analysis of parent market trends, macro-economic indicators, and governing factors along with market attractiveness as per segments.
- The report also maps the qualitative impact of various market factors on market segments and geographies.
Lte 5g Market Segmentation
- Long term evolution frequency division duplex (FDD LTE)
- Long term evolution time division multiplex (TDD LTE)
- Rel 8
- Rel 9
- Rel 10
- Rel 11
- Rel 12
- Rel 13
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