Market Research Future (MRFR) predicts the global 4G LTE market to reach approximately USD 524.11 billion at a 34.64% CAGR from 2020-2030 (forecast period).
4G connectivity is a groundbreaking trend in the telecom industry that was developed to replace 3G connectivity. The 4G (fourth generation) mobile network technology enables a reliable connection with high-speed data transmission. The term "4G LTE" refers to the fourth-generation long-term evolution network, which offers the fastest connection for a mobile internet experience and is expected to be ten times faster than the 3G mobile network.
The 4G LTE connectivity are led by various technology namely LTE-Frequency Duplex Division (LTE-FDD), LTE- Time Duplex Division (LTE-TDD), WiMax, and HSPA+. These technologies are powered by the spectrum band, which provides the end-user with improved internet connectivity and browsing capabilities. For example, Telstra, a leading telecommunications company based in Australia, uses carrier aggregation to deliver data via FDD at 700MHz and 1,800MHz spectrum bands.
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On the plus side, the rapid adoption of low-cost smart devices such as smartphones, laptops, and tablets, as well as an increase in demand for improved connectivity to improve customer experience, are expected to be contributing factors for the growth of 4G LTE over the assessment period. On the other hand, continuous review of regulatory policy regarding spectrum standards and exposure to harmful radiations are expected to be driving factors for market growth during the review period.
4G LTE Industry Key Players
Some of the main players in the global market include Verizon Wireless (U.S.), AT&T (U.S.), Alcatel-Lucent (France), Sprint Nextel (U.S.), MetroPCS (U.S.), U.S. Cellular (U.S.), Huawei Technologies Co. Ltd. (China), S.K. Telecom (South Korea), Bharti Airtel Ltd. (India), LM Ericsson (Sweden), Vodafone Group PLC (U.K.) and others.
COVID-19 Impact on the Global 4G LTE Market
The introduction of a set of rules by governments of various nations to combat the COVID-19 crisis has been found to have an impact on the global 4G LTE industry's growth.
The global 4G LTE market has been segmented into device type, technology, connection plan, and organization size.
By device type, the global 4G LTE market has been segmented into smartphones, laptops, tablets, routers, wireless modems, and others.
Based on technology, the global 4G LTE market has been segmented into LTE-FDD (frequency division duplex), LTE-TDD (Time-division duplex), LTE- advance, WiMax, HSPA+.
By connection plan, the global 4G LTE market has been segmented into pre-paid and post-paid.
Based on organization size, the global 4G LTE market has been segmented into small & medium enterprises and large enterprises.
Geographically, the global 4G LTE industry has been segmented into four different regions, namely North America, Asia Pacific, Europe, and The Rest of the World.
The 4G LTE market in North America is expected to expand significantly. The region's leaders are the United States and Canada. The market is expanding as a result of advanced spectrum efficiency, which allows for the repurposing of broadcast spectrum for broadband. Over the projected period, Asia Pacific is expected to be the fastest-growing area in the 4G LTE market. The leading nations in the 4G LTE market are South Korea, India, Japan, and China. This trend of growth can be attributed to the rapid rise in demand for high-speed connectivity. Europe is projected to be a key region in the market due to pre-requisite infrastructure and technological expertise in the telecom industry.
The global 4G LTE market is predicted to reach approximately USD 322.77 billion at a 38% CAGR from 2017-2023 (forecast period). 4G LTE is a type of 4G technology that provides the best performance and speeds available today. If you use a lot of data per month or rely on your smartphone or tablet to surf the web, 4G LTE is typically the best option. Since 4G LTE is roughly ten times faster than older 3G technology, the speed difference is always very noticeable when users move from 3G to 4G LTE.
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