LTE IC Market by 2024 Demand and Growth Drivers; Major Players - NVIDIA, Samsung Electronics, Sequans Communications and Spreadtrum

The growing demand of 3G and 4G LTE IC form Smartphones and tablets and other networking devices are fueling the growth of the global LTE IC market. The retail costs of smartphones are largely influenced by the cost of LTE IC integrated equipped in them. The LTE enabled phones are high in cost, since major smartphone manufacturers intend to increase profit, using LTE as a high-end differentiated feature.

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The market is going through continuous product innovations. Recently, the 64 bit chip and octa-core chip are witnessing high penetration in the high end networking devices. The prices of 64bit are expected to fall during the forecast period, as more chip vendors are expected to launch such products.

The increasing penetration of smart phone in developing countries has boosted the growth of the LTE IC market. The smartphone segment accounted for more than 70% share of the global market. By the end of 2017, the smart phone shipment is expected to reach touch 1.5 billion units, as compared to 1 billion shipments.

Among the various geographical divisions, Asia-Pacific accounted for the largest market of Long-Term Evolution Integrated circuits market. North America was the second largest market in terms of value, owing the demand of high end LTE IC leading electronics and networking device manufacturers in the region. Country wise, China, the U.S., the U.K., Canada, South Korea, Japan, India, France, Germany and Brazil are the major Long-Term Evolution Integrated circuits markets.

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Some of the competitors in the LTE market are NVIDIA, Infidel, Samsung, Sequans Communications and Spreadtrum.

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