4G (LTE) Devices Market Report 2024, Industry Overview, Growth Rate and Forecast 2031 | Apple Inc., ASUSTeK Computer Inc

Market Dynamics:

The 4G (LTE) devices market is driven by rising adoption of smartphones and increasing demand for high-speed internet connectivity. Over the forecast period, the number of smartphone users is expected to increase substantially. In addition, rapid deployment of advanced LTE networks by telecom operators across the globe will encourage users to upgrade to 4G (LTE) enabled devices. This is expected to significantly contribute to the growth of 4G (LTE) devices market during the forecast period. Furthermore, growing demand for fast internet for applications such as video streaming, online gaming and digital payments is also boosting the adoption of 4G (LTE) devices among consumers and enterprises.

Global 4G (LTE) devices market is estimated to be valued at US$ 44.83 Bn in 2022 and is expected to exhibit a CAGR of 5.9% during the forecasted period (2023-2030)

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Major Market Drivers:

Growing Demand for faster Data Speeds

The demand for faster data speeds has been continuously growing with the rise in video and cloud-based applications. 4G LTE networks offer data speeds up to 10 times faster than traditional 3G networks allowing users to enjoy immersive experiences. As more users consume high definition videos, play online games and use cloud services the need for faster networks is increasing. This has led to widespread adoption of 4G LTE smartphones and devices that can support the high speeds. Mobile operators are also making significant investments in upgrading their infrastructure to roll out 4G networks to cater to this demand.

Declining Prices of 4G Devices

As 4G technology has matured over the past few years, the prices of 4G LTE phones and devices have declined significantly. Major smartphone brands are launching more affordable 4G models which has expanded the addressable market. The average selling price of a 4G smartphone declined from over $600 few years ago to under $250 currently. Similarly, 4G mobile hotspots, routers, and tablets are also available at lower price points. This reduction in prices has improved the accessibility of 4G technology driving higher adoption rates globally. Manufacturers are also moving 4G capabilities to lower budget categories to further stimulate demand.

Major Key Players:

Apple Inc., ASUSTeK Computer Inc., Huawei Technologies Co., Ltd., Lenovo Group, LG Electronics, Panasonic Corporation, Samsung Electronics Co., Ltd., Xiaomi Inc., and ZTE Corporation.

Detailed Segmentation:

Global 4G (LTE) Devices Market, By Device Type:
Smartphones
Tablets

Global 4G (LTE) Devices Market, By Price Range:
Low
Medium
Premium

4G (LTE) Devices Market, By Distribution Channel:
Multi-brand Store
Single Brand Store
Online

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Major Market Opportunity:

Emergence of IoT and Connected Devices

The emergence of Internet of Things (IoT) presents a significant growth opportunity for 4G LTE technology and devices. As more everyday devices get connected to mobile networks, it is driving the need for bandwidth and connectivity. To power applications like asset tracking, telematics, smart city infrastructure etc., these devices depend on high-speed 4G connectivity. Mobile operators are partnering with IoT solution providers and vendors to develop 4G embedded modules for a wide variety of endpoints. This rising interconnectedness of devices through 4G networks will magnify the scope and potential of 4G devices market going forward.

Major Market Trend:

Evolution to 5G Networks and technology

Looking ahead, 5G networks are expected to become mainstream replacing the current 4G infrastructure. Early 5G rollouts have already commenced in major markets and more widespread deployments are expected in the next 2-3 years. As 5G establishes itself, it will drive the next wave of innovations in semiconductor, mobile computing as well as connected devices. This will gradually shift focus from current 4G technology to new 5G opportunities. While 4G devices market may see slower growth, 5G-capable devices will emerge as the new growth driver. Manufacturers have started unveiling 5G prototypes, and commercial 5G smartphones are expected to be unveiled by 2019. This transition to 5G will significantly influence future market trends.

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𝗙𝗔𝗤'𝗦:

What is the projected size of the 4G (LTE) Devices Market by 2031?
Which major countries will experience the greatest impact from the 4G (LTE) Devices Market?
Which regional market in the 4G (LTE) Devices Market is the largest?
Which leading companies dominate the majority of the 4G (LTE) Devices Market?
Which geographic market within the 4G (LTE) Devices Market industry is expected to exhibit the most significant growth potential?
What are the primary drivers of the 4G (LTE) Devices Market?
What are the current trends and future predictions for the global 4G (LTE) Devices Market industry?
What are the key strategies employed in the 4G (LTE) Devices Market?
What are the main growth prospects for the 4G (LTE) Devices Market?

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