The global 4G LTE market valuation is expected to reach USD 322.77 billion by 2023, according to MRFR. It can exhibit 38% CAGR over the forecast period. Increasing use of internet, declining prices of smartphones, demand for fast data speeds, and establishment of LTE infrastructure are likely to influence the market demand. Development of messenger applications able to function on the network can attract customers. This is evident with the popularity of social media channels that manage to engage customers by sharing multimedia content. Also prevalent is the number of downloads from the Google Play Store and iStore for security applications and internet-of-things (IoT).
Rise of edutech and learning platforms due to the penetration of high-speed Internet can bolster the market demand significantly. The COVID-19 pandemic has driven the demand for online learning courses as movement restriction orders are prioritized for curbing the spread of the disease. High data traffic and prominence of online media channels can shape the market size globally.
But lack of compatible devices and infrastructure can stunt the market growth.
By device type, the 4G LTE market is segmented into tablets, smartphones, laptops, wireless modem, routers, and others.
On the basis of technology, the market is categorized into LTE- advance, LTE-FDD (frequency division duplex), LTE-TDD (Time division duplex), WiMax, and HSPA+. The LTE-FDD is expected to capture a large share of the global 4G LTE market owing to the delivery of data at good speeds and constant technological innovation.
By connection plan, the market is bifurcated into pre-paid and post-paid.
On the basis of organization size, the market is categorized into small & medium enterprises and large enterprises.
North America is presumed to have significant growth in the 4G LTE market. The United States and Canada are leading countries in the region. The market growth is due to advanced spectrum efficiency which allows the repurposing of broadcast spectrum for broadband. Establishment of 4G network infrastructures and rise of the customer base can bode well for the market.
Asia Pacific is also anticipated to be the fastest growing region in the 4G LTE Market over the forecast period. South Korea, Indonesia, India, Japan, and China are the leading countries in the 4G LTE Market. This growth pattern is attributed to a rapid increase in demand for high-speed connectivity. Launch of 4G services and early adoption of new technology can bode well for the market.
Europe is expected to witness key region in the market owing to pre-requisite infrastructure and technical expertise in the telecom sector. The swift data speeds expected by consumers and establishment of network infrastructure for providing access to the internet at public places can bode well for the market. But high cost of investments for networking infrastructure in Germany can hamper regional market growth.
U.S. Cellular, Bharti Airtel Ltd., S.K. Telecom, LM Ericsson, Vodafone Group PLC, Verizon Wireless, AT&T, Alcatel-Lucent, MetroPCS, Sprint Nextel, and Huawei Technologies Co. Ltd. are key players of the global 4G LTE market.
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