LTE Market : Growing Need for Higher Data Rates to Boost Market Growth at 78.6% CAGR

According to a recent market research report published by Transparency Market Research, the global LTE market is estimated to take a leap at a CAGR of 78.6% during the period between 2013 and 2019. The report, titled “Global LTE Market - Industry Analysis, Size, Share, Growth, Trends and Forecast 2013 - 2019”, forecasts the global LTE market to reach a valuation of US$610.71 bn by 2019. The overall market was worth US$10.47 bn in 2012.

Browse the full Global LTE Market (LTE-FDD, TD-LTE and LTE Advanced) - Industry Analysis, Size, Share, Growth, Trends and Forecast 2013 - 2019 report at https://www.transparencymarketresearch.com/lte-market.html

Long term evolution, better known as LTE and marketed as 4G LTE, refers to a wireless communication standard for high-speed data for mobile phones and data terminals. With enhanced capacity per site, LTE technology lowers the cost per gigabyte. The report points out that the need for higher data rates and greater spectral efficiency due to increased data usage is fuelling the demand from the global LTE market. Rapid development of smart devices and need for high quality of services on the move have further pushed the growth of the market. Public safety LTE and planned large-scale adoption of LTE by operators in Asia Pacific will propel the growth of the global LTE market.

However, the report states that roaming on LTE networks is not fully developed yet. This along with compatibility issues will restrain the growth of the global LTE market. The overall market has a huge opportunity to grow with the convergence of IT and telecom. Connected devices and Internet-of-Things will create new growth avenues for the market during the forecast horizon. On the basis of technology, the report segments the global LTE market into TD-LTE or LTE-TDD, LTE-FDD, and LTE advanced. In 2012, the LTE-FDD segment accounted for 56.8% market share. However, during the forecast horizon, the report estimates the LTE advanced segment to witness tremendous expansion at a CAGR of 175.0%.

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In terms of services and applications, the report categorizes the global LTE market into games, browsing, M-commerce, M2M and connected devices, music, mobile cloud services, public safety LTE, P2P (person-to-person) messaging, VoLTE (Voice over LTE), and TV/Video-on-Demand (VoD). The VoLTE (Voice over LTE) segment is estimated to rise at a CAGR of 123.5% CAGR during the forecast period.

The report studies the global LTE market across four key regions: Europe, North America, Asia Pacific, and Rest of the World. North America dominates the overall LTE market. In 2012, the North America LTE market was worth US$5.36 bn owing to lower prices of LTE as compared to the 3G network. The report forecasts that during the period between 2013 and 2019, the Asia Pacific LTE market will witness an incredible CAGR of 88.7% due to growing demand for high-speed wireless data across countries such as India, Japan, China, and South Korea.The report profiles some of the key players in the global LTE market such as Verizon Wireless, AT&T Inc., Sprint Corporation, China Mobile Ltd., Alcatel-Lucent, and Huawei Technologies Co. Ltd.

Transparency Market Research (TMR) is a next-generation provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations

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This release was published on openPR.