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LTE Market to Grow at Remarkable 78.6% CAGR till 2019 thanks to Rising Demand for High-Speed Broadband

Posted on Jun 16, 2015

The report “Global LTE Market - Industry Analysis, Size, Share, Growth, Trends and Forecast 2013 - 2019” from Transparency Market Research (TMR) provides a comprehensive analysis of the global LTE market. According to this report, the global LTE market is expected to grow at an explosive CAGR of 78.6% during the forecast period of 2013 to 2019. In 2012, the global LTE market was valued at US$10.47 billion and by 2019 the market is projected to reach a value of US$610.71 billion.Long Term Evolution (LTE), marketed as 4G LTE, is a wireless communication technology that is high in demand at present. This technology is a favorite among consumers as it reduces the cost per gigabyte with capacity per site. This technology was introduced commercially in 2009 by the firm TeliaSonera in Sweden and Norway. In 2010, this technology was introduced in the U.S. by Verizon Wireless, which revolutionized this sector in the U.S.

 

Browse the full Global LTE Market (LTE-FDD, TD-LTE and LTE Advanced) - Industry Analysis, Size, Share, Growth, Trends and Forecast 2013 - 2019 report at http://www.transparencymarketresearch.com/lte-market.html

 

Regionally, North America leads the global LTE market. This regional market was valued at US$5.36 billion in 2012. The growth of this regional market can be attributed to the reduced prices of LTE as compared to the 3G network. Nevertheless, Asia Pacific is expected to surpass the North American LTE market by the end of 2015. The accelerating demand for high-speed wireless data and the growing cost of infrastructure in nations such as Japan, China, India, and South Korea are the factors that will boost the growth of the Asia Pacific LTE market. The Asia Pacific LTE market is anticipated to demonstrate an impressive CAGR of 88.7% during the forecast period and is estimated to be worth US$244.29 billion by 2019.Verizon Wireless ruled the global LTE market, with a market share of 58.1% in 2012, trailed by NTT DoCoMo. Other notable network operators in the global LTE market include China Mobile, AT&T, Sprint Corp., Vodafone, T-Mobile, and SK Telecom. Ericsson is the leading LTE network infrastructure vendor, with a market share of 30% in 2012, trailed by Huawei.

                                

By technology, the market is segmented into LTE FDD, TD-LTE, and LTE Advanced. The LTE-FDD sector held a significant 56.8% market share in 2012, while the sector of LTE Advanced is expected to grow at a booming CAGR of 175% during the forecast period.By services and applications, the global LTE market is divided into VoLTE, video-on-demand/TV, public safety LTE, P2P messaging, music, mobile cloud services, m-commerce, M2M and connected devices, games, and browsing. The sector of VoLTE (Voice over LTE) is expected to rise at a 123.5% CAGR during the forecast period.

 

Besides growing consumer demand for higher data rates, the global LTE market will also benefit from the elevated spectral efficiency driven by growing data usage. Furthermore, factors such as the rapid deployment of smart devices, rising need for high quality of services on the go, growing public safety LTE sector, and rising planned large-scale adoption of LTE operators in Asia Pacific will fuel the global LTE market. Nevertheless, the market will be challenged by the roaming facility, which is not yet fully developed. Other computability issues linked with LTE technology will also suppress the global LTE market’s growth.

 

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