LTE Market to Reach US$610.71 bn by 2019, Increasing Need for Higher Spectral Efficacy Fuels Demand

A research report on the global LTE market, published by Transparency Market Research (TMR), estimates it to rise at an impressive CAGR of 78.60% during the period from 2013 and 2019. Experts project this market to increase from US$10.47 bn in 2012 to US$610.71 bn the end of the forecast period.The research report is titled “Global LTE Market - Industry Analysis, Size, Share, Growth, Trends and Forecast 2013 - 2019.”

Long term evolution (LTE) refers to a 4G wireless network technology. It is regarded as a standard for high-speed wireless communication for mobile phones and data terminals. 3rd Generation Partnership Project (3GPP) has developed this technology. It is the natural upgrade route for carriers functioning on CDMA2000 as well as GSM or UMTS or both networks. It represents the next step in a progression (4G) from GSM (2G) to UMTS (GSM-based 3G technology).

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The global LTE market has gained significant momentum in the recent past. The increasing need for higher spectral efficacy is driven by the rise in the data usage is fueling the demand for LTE across the world. The increasing adoption of smart devices is also driving the growth in the worldwide LTE market, states the report.

In this research report, the global market for LTE has been studied on the basis of technology, component, service and application, and region. Technology-wise, the market has been categorized into LTE Advanced, TD-LTE, and LTE FDD. In 2012, the LTE-FDD segment led the overall market with a share of 56.8%. However, the LTE Advanced segment is anticipated to register the fastest growth in coming years, exhibiting exponential surge at a CAGR of 175% over the forecast period.

LTE infrastructure, terminal equipment, chipsets, and LTE testing equipment have been identified as the key components of this market in this report. The LTE infrastructure segment held a share of approximately 34% in the overall market in 2012.

Based on service and application, the worldwide market for LTE market is classified into voice over LTE (VoLTE), public safety LTE, video-on-demand/TV, P2P messaging, M2M and connected devices, mobile cloud services, games, music, mobile commerce, and browsing. The VoLTE segment is projected to expand at a CAGR of 123.50% over the forecast period, states the research study.

Geographically, the report has segmented the global LTE market into Asia Pacific, North America, Europe, and the Rest of the World. North America, among all, leads the global market. It attained a value of US$5.36 bn in 2012. The reduction in LTE prices is boosting the demand for LTE in this region. However, Asia Pacific is likely to emerge as the leading regional segment by the end of the forecast period.

The escalating demand for high-speed wireless network and the rising infrastructural cost in Asian economies such as Japan, India, China, and South Korea are projected to drive the growth of the LTE market in Asia Pacific over the next few years. Analysts expect this regional market to record an exponential CAGR of 88.70% during the forecast period and reach a value of US$244.3 bn by 2019.

A competitive analysis of the worldwide LTE market has also been presented in this report. Analysts have evaluated the profiles of leading companies to determine the current market hierarchy. In 2012, Verizon Wireless dominated the global market with a share of 58.1%. Huawei Technologies Co. Ltd., Nokia Solutions and Networks B.V., Alcatel-Lucent, LM Ericsson, Bharti Airtel Ltd., China Mobile Ltd., T-Mobile US Inc., Sprint Corp., and AT&T Inc. are the other major participants in the global LTE market, mentioned in this research report.

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This release was published on openPR.