Over the years, the Internet has become a primary source of communication. The rise of the Internet has drastically changed the way corporate as well as individual communication is done. The demand for Internet access continues to grow at a drastic rate.
While the primary mode of access has been the dial-up service, recent telecommunication innovations such as deployment of 4G LTE services with high speed broadband have allowed residential and commercial subscribers the option of obtaining affordable high-speed broadband access. Since the birth of the World Wide Web (WWE), the number of Internet users across the world has skyrocketed.
Digitization of business verticals, increasing use of social media, video streaming, and increasing growth of connected devices are the key growth factors behind the drastic growth of Internet users. Nowadays, Internet users are demanding high-speed wireless communication for mobile devices, data terminals, and for other applications. The demand for high-speed wireless communication is expected to positively impact the global LTE modem market.
An LTE (long-term evolution) modem is an electronic device meant for high-speed wireless communication, based on technologies such as GSM/EDGE and UMTS/HSPA. LTE modems simply connect routers, switches, connected devices including mobile phones, and personal computers to provide an instant 4G LTE or 3G fallback broadband connection. Advanced LTE modems offer a high peak data transfer rate more than 100 Mbps.
Market Drivers
Major growth drivers of the LTE modem market include a rise in the growth of Internet users across the world, and the growing demand for high-speed connectivity in developing countries. In addition, the growing demand for high bitrate connectivity to support the consumption of multimedia data is creating potential growth opportunities for LTE modem vendors across the world.
Market Challenges
In the present scenario, LTE modem vendors are facing challenges in terms of technological advancements due to fast changing telecom industry and high competition due to presence of unorganized players in the market. Furthermore, the growth of the smartphone market in recent years, along with the ease of connectivity with multiple electronic devices is hampering the growth of the global LTE modem market across the globe.
Market Trends
Increasing connected devices need constant Internet connectivity. In recent years, several developments have been made for constant Internet connectivity. For this, telecommunication service providers are focusing on carrier-grade Wi-Fi devices. Due to the feature of wireless connectivity over short distances, carrier-grade Wi-Fi devices are gaining traction in the market.
Due to increasing Internet users in developed and developing countries, the residential sub-segment is expected to grow at a high CAGR during the forecast period.
Key Contract
In January 2017, NETGEAR, a U.S.-based computer networking device and service provider, unveiled the world’s first GIGABIT 4G LTE device 'NIGHTHAWK M1 MOBILE ROUTER'. The company developed a newly launched 4G LTE device in partnership with Telstra Corporation Ltd., which is an Australian telecommunication giant.
Some of the major players in the global LTE modem market are ZTE Corporation, Apple, Inc., AT&T, NETGEAR, CISCO, D-Link, Huawei Technologies Co., Ltd., Digi Telecommunications, Inseego, and TP-Link, Alcatel, among others.
On a geographic basis, Asia Pacific is anticipated to capture the largest market share in terms of value, owing to the large majority of the population in India and China turning to access the Internet. North America is expected to exhibit high growth rates in terms of value and volume in the global LTE modem market, due to the presence of key vendors, technological advancements in the telecom industry, and increasing adoption in residential and commercial sites.
Europe and Latin America also offer potential growth opportunities in the LTE modem market, due to the increasing demand for high-speed Internet connectivity. Moreover, the LTE modem market in the MEA region is expected to grow at a considerably faster rate during the forecast period, owning to the increasing number of Internet users in the region.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, and 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 segment. The report also maps the qualitative impact of various market factors on market segments and geographies.
Segmentation of the LTE modem market on the basis of modem type:
The cable broadband sub-segment accounted for a major market share of the global LTE modem market in 2017. The growth of the cable broadband segment is attributed to the adoption of LTE modems in commercial applications.
Segmentation of the LTE modem market on the basis of end user:
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