Press release
LTE Advanced and 5G Market to close to US$ 23.8 Bn and expand at a CAGR of 36% during (2019-2029)
LTE Advanced and 5G Market 2022
In line with this, the global LTE advanced and 5G market was valued at US$ 9.5 Bn in 2018 and is projected to expand at a CAGR of 36% over the forecast period (2019-2029). The global LTE advanced 5G market is estimated to reach US$ 23.8 Bn in the year 2022. It's an exponential market. The latest trend implies increasing partnerships between telecom service providers and network equipment for streamlining LTE advanced 5G projects.
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LTE advanced and 5G technology is playing a vital role in supporting policy makers and governments to transform cities into smart cities, and allowing communities and citizens to recognize and contribute to socioeconomic benefits delivered by a data-intensive and digital economy. Heavy investments by government and public organizations around the globe for the advancement of telecommunication infrastructure is one of the key factors driving the growth of the LTE advanced and 5G market.
Furthermore, a significant increase in the number of smartphone users and smartphone-driven businesses around the world is encouraging consumers to adopt LTE advanced and 5G-enabled services to gain benefits from new areas of wireless technology. Also, substantial adoption of IoT- and cloud-based solutions is creating potential growth opportunities for the LTE advanced and 5G market.
Key Players:
The report has profiled some of the Important players prevalent in the global like - Huawei Technologies Co., Ltd., Airspan, Nokia, Ericsson, CommScope, Samsung, ZTE Corporation, Cisco Systems, Inc., Qualcomm Technologies, Inc., NEC Corporation and more.
This report covers the sales volume, price, revenue, gross margin, manufacturers, suppliers, distributors, intermediaries, customers, historical growth and future perspectives in the LTE Advanced 5G.
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Key Takeaways of LTE Advanced and 5G Market Study
Growing partnerships between telecom network equipment and service providers to streamline LTE advanced and 5G projects are generating new revenue streams.
LTE advanced and 5G is providing new capabilities to evolve existing services, and is unleashing new use cases that helps in extending application boundaries of businesses and industries such as smart manufacturing, cloud AR/VR, connected automotive, connected energy, smart cities, and many more.
Asia Pacific excluding Japan is expected to create potential growth opportunities, owing to increasing investments in telecom infrastructure, rising digitalization, and growing number of public-private partnerships.
"As the LTE advanced and 5G market is constantly becoming diverse and competitive, rising expansion of the digital ecosystem in and around the telecom sector is generating immense openings for governments and businesses to deploy LTE advanced and 5G services and solutions, and benefit from emerging use cases," says a PMR analyst.
Partnerships and Business Alliances Key to Market Growth
Key players in the LTE advanced and 5G market are continuously focusing on entering into partnerships with telecom service providers of countries around the globe to foster new innovations and revenue growth. These partnerships and collaborations are helping businesses and industries reach new growth avenues by unlocking emerging use cases generated through LTE advanced and 5G.
For instance, in October 2019, Huawei and Sunrise entered into a partnership to pave the way for 5G innovation in various verticals, and drive the commercialization of 5G in Switzerland.
Region Coverage (Regional Production, Demand & Forecast by Countries etc.):
North America (U.S., Canada, Mexico)
Europe (Germany, U.K., France, Italy, Russia, Spain etc.)
Asia-Pacific (China, India, Japan, Southeast Asia etc.)
South America (Brazil, Argentina etc.)
Middle East & Africa (Saudi Arabia, South Africa etc.)
Key Stakeholders
LTE Advanced 5G Market Manufacturers
LTE Advanced 5G Market Distributors/Traders/Wholesalers
LTE Advanced 5G Market Subcomponent Manufacturers
Industry Association
Downstream Vendors
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Key Questions Answered in This Report.
What will the Market growth rate in Future?
What are the key factors driving the global Market?
Who are the key manufacturers in Market space?
What are the opportunities and threats faced by the vendors in the global industry?
What are sales, revenue, and price analysis by regions of industry?
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