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LTE And LTE Advance Market

Market Insights on LTE And LTE Advance covering sales outlook, demand forecast & up-to-date key trends

LTE and LTE Advance Market By Type (Infrastructure, End-User Device, Evolved Packet Core (EPC), User Equipment (UE), Evolved UMTS Terrestrial Radio Access Network (E-UTRAN)), Application (Smartphones, USB Modems, Notebooks, Tablets, Routers, Card Modules) & Region - Forecast 2022 - 2032

LTE And LTE Advance Market Overview

The global LTE and LTE advance market is anticipated to be valued at US$ 10 Bn in 2022, exhibiting growth at 32.5% CAGR during the forecast period (2022-2032). The sales in the LTE and LTE advance market are estimated to surpass US$ 87.6 Bn by the end of 2032. Growth is underpinned by rising adoption of smartphones and increased data consumption across the globe.

Report Attribute

Details

Expected Market Value (2022)

US$ 10 Billion

Anticipated Forecast Value (2032)

US$ 87.6 Billion

Projected Growth Rate (2022-2032)

32.5% CAGR

With surging digitization across the globe, the use of smartphones and its services has burgeoned. Hence, telecommunication companies are investing extensively in advanced wireless technologies, propelling the demand in the market.

Additionally, growing use of 4G wireless broadband technology and advent of 5G is improving the adoption of long term evolution (LTE) services worldwide. End users and consumers are adopting LTE advanced services as it provides enhancements in multiple dimensions.

LTE advance is one of the latest technologies of LTE networks, which provides high bitrate with better performance of edge cells coupled with enhanced carrier aggregation functionalities. Furthermore, growing demand for improved network coverage will also fuel the sales in LTE and LTE advance market.

Which are the Drivers Propelling the Demand in the LTE and LTE Advance Market?

As per Future Market Insights, increasing need for improved network coverage and optimized connectivity is one of the major factors fueling the growth in the market. Besides this, cost-effectiveness, reduced latency, and network efficiency will drive the sales.

With increasing smartphone adoption across the globe, key players are integrating advanced technologies and introducing new product launches to increase their sales. For instance, Qualcomm unveiled the world’s first 2Gbps LTE advanced modem snapdragon X24 in 2018.

Additionally, integration of internet of things (IoT) in LTE network to meet the requirements of advanced networks such as 5G IoT will increase the demand in the market. As LTE reduces the long-term cost of infrastructure, deployment of LTE and LTE advanced technology increased.

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Which are the Factors Limiting the Sales in LTE and LTE Advance Market?

Despite the growing adoption of smartphones and increased use of LTE services, key players are facing significant challenges in the LTE and LTE advance market. However, complexity of the network and inadequate infrastructure in underdeveloped regions will hinder the growth in the market.

Besides this, device compatibility issues are also resulting in decline in sales of LTE and LTE advance solutions, especially in low and middle income economies.

How Big is the LTE and LTE Advance Market Opportunity in Asia-Pacific?

According to Future Market Insights (FMI), Asia Pacific is expected to be the most remunerative market over the forecast period. Developing digital infrastructure in emerging countries such as India and China is one of the major factor fueling the growth in Asia Pacific.

Rising adoption of smartphones and adoption of IoT in India and China are fueling the demand for advanced network services such as LTE and LTE advance in the region. Besides this, surging usage of IoT in commercial, manufacturing, and logistics sector will also propel the growth.

Nikhil Kaitwade
Principal Consultant
LinkedIn
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Will North America Retain its Dominance in LTE and LTE Advance Market?

According to Future Market Insights, North America current is dominating the LTE and LTE advance market, with the U.S. expected to spearhead the growth. Extensive applications in the telecommunications and IT industries will spur the sales of LTE and LTE advance across the U.S.

Presence of leading network providers and service companies in the U.S. is one of the major factor boosting the North America LTE and LTE advance market. Moreover, growing use of advanced smartphone technology, advent of 5G, and extensive use of e-commerce platforms are driving the sales in North America.

Market Competition

Some of the key participants present in the global LTE and LTE advance market include Verizon Wireless, AT&T Inc., Ericsson, Huawei Technologies Co. Ltd., Sprint Corporation, China Mobile Ltd., T-Mobile US Inc., Alcatel-Lucent, Nokia Solutions, Networks B.V. (NSN), and Bharti Airtel Ltd., among others.

Leading companies in the market are introducing latest and advanced technology solutions to woo the consumers. They are also investing in research and development technologies to cater to the growing requirement for improved network services in remote areas.

Some of the companies are collaborating with government for enhanced digital infrastructure and IT giants to expand their product portfolio and increase their revenues.

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Report Scope

Report Attribute

Details

Growth Rate

CAGR of 32.5% from 2022 to 2032

Base Year for Estimation

2021

Historical Data

2015-2020

Forecast Period

2022-2032

Quantitative Units

Revenue in USD Billion and CAGR from 2022-2032

Report Coverage

Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis

Segments Covered

  • Type
  • Application
  • Region

Regions Covered

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • APEJ
  • Japan
  • Middle East and Africa

Key Countries Profiled

  • U.S
  • Canada
  • Brazil
  • Argentina
  • Germany
  • U.K
  • France
  • Spain
  • Italy
  • Nordics
  • BENELUX
  • Australia & New Zealand
  • China
  • India
  • ASEAN
  • GCC
  • South Africa

Key Companies Profiled

  • AkzoNobel N.V.
  • Asahi Glass Co. Ltd.
  • Dow Chemical Company
  • Gujarat Alkalies & Chemicals Ltd.
  • Ineos
  • Solvay S.A.
  • Shin-Etsu Chemical Co. Ltd.
  • Tokuyama Corporation

Customization

Available Upon Request

Key Segments Profiled in the LTE and LTE Advance Market Report

Type:

  • Infrastructure
  • End-User Device
  • Evolved Packet Core (EPC)
  • User Equipment (UE)
  • Evolved UMTS Terrestrial Radio Access Network (E-UTRAN)

Application:

  • Smartphones
  • USB Modems
  • Notebooks
  • Tablets
  • Routers
  • Card Modules

Region:

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • Asia Pacific excluding Japan
  • Japan
  • Middle East & Africa

Frequently Asked Questions

FMI projects the global LTE and LTE advance market to expand at a 32.5% CAGR during the forecast period.

North America is currently dominating the LTE and LTE advance market. However, with expansion of digital infrastructure in India and China, Asia Pacific is estimated to be the most lucrative market.

A Verizon Wireless, AT&T Inc., Ericsson, Huawei Technologies Co. Ltd., and Sprint Corporation are some prominent LTE and LTE advance manufacturers

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Nikhil Kaitwade
Principal Consultant
LinkedIn
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