Albany, NY -- (SBWIRE) -- 12/15/2015 -- The global market for LTE, the Long Term Evaluation wireless communication standard for high-speed data services for the mobile industry, has been exhibiting a significant growth since the past few years. A recent research report published by a leading industry trade organization, 4G Americas, states that LTE subscriptions across the globe reached 908 mn by the end of the 3rd quarter of 2015. With LTE subscriptions rapidly approaching the one billion mark, LTE has acquired the leadership position in the mobile broadband arena.

LTE Networks Rule Mobile Broadband Space in North America

In North America, especially, the market for LTE and LTE-Advanced has been witnessing a tremendous growth over the past couple of years. All the prominent national telecom operators in the U.S., namely Verizon Communications Inc., Sprint Corp., T-Mobile US Inc., and AT&T Inc. have already deployed their LTE-Advanced networks. These operators are investing heavily in the development of LTE networks, thereby fuelling the adoption of LTE across the region. Such rise in investments is spurring the deployment of new LTE-Advanced features and technological innovations that are benefitting carriers and subscribers alike.

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Verizon Communications Inc. has recently announced its entry in the Internet of Things (IoT) space and the availability of world's first ever Cat1 LTE networks for IoT services. With an industry giant like Verizon making headway in the advancement of LTE, the global LTE market is expected to become more and more competitive in the coming years.

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A research report published by Transparency Market Research suggests similar growth prospects for the global LTE market. The report states that the market will expand at a robust 78.9% CAGR between 2013 and 2019. This highly lucrative market, with ripe growth prospects, is being incessantly driven by rising demand for high quality data services with improved data speed, the rising use of data-hungry applications and services, and the emergence of smartphones that led to the evolution of communication networks from an early voice-centric approach to a data-centric approach.

LTE Network Deployment Gain Huge Momentum

According to the report published by 4G Americas, over 50% of all the mobile connections in North America are LTE enabled. By the end of the third quarter of 2015, about 201 million mobile connections out of the total 431 mn were LTE subscribers. Globally, there were nearly 907 mn LTE subscribers by the end of third quarter of this year as compared to the nearly 635 million at the end of the first quarter of the year. 4G Americas has projected that this number will rise to 3.6 billion by 2020. LTE networks are available across 145 countries in the globe with 430 commercially active operators.

Verizon Moves Bullishly Ahead in IoT Space with Advancement in LTE

Verizon is highly bullish in the IoT sector and is making a momentous push in the rapidly expanding IoT market with its offerings such as the Cat1 LTE IoT services. It was recently reported that Verizon's revenues from the IoT business were around US$175 mn in the 3rd quarter of 2015 and nearly US$495 million in the first nine months of this year.

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