Northbrook, IL -- (SBWIRE) -- 10/25/2021 -- The LTE and 5G broadcast market is estimated to be worth USD 642 million in 2021 and projected to reach USD 1,072 million by 2026, at a CAGR of 10.8%. The increasing LTE and 5G mobile subscribers with surging penetration of smartphones growing popularity of on-demand content and seamless mobile data services and growing need for massive connectivity of devices due to evolution of IoT are some of the prominent factors for the growth of the LTE and 5G broadcast market globally.
LTE technology held the major market share in the LTE and 5G broadcast market in 2020
LTE broadcast is transforming the types of services mobile customers receive, their quality, and the way they are delivered. It is equipped with eMBMS, a 3GPP standardized technology. The technology allows mobile operators to use a proportion of their network capacity for broadcasting popular content or data. LTE broadcast serves multiple customers within a single cell with the same video, TV, or other data services instead of unicasting delivery. LTE broadcast has significantly impacted the capacity needed to deliver popular content, and the technology is opening up new business opportunities for mobile operators. Users expect low latency in mobile devices while watching videos and TV content, leading to an increase in demand for LTE and 5G broadcast services.
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LTE and 5G broadcast technology for connected cars end use to grow at the highest CAGR during forecast period
The market is coming up with new LTE broadcast services, including the trial by Japanese operator KDDI. The trial involved using eMBMS in two connected car applications – the first involved broadcasting a status alert from one car to the network and back through eMBMS to many other cars and users. The other application was to enable real-time mapping and navigation information. It is expected that potential applications for LTE broadcast and 5G broadcast will continue to grow with the technology leading to high market growth for connected cars.
Key Market Players
The major players in the LTe and 5G broadcast market are Qualcomm (US), Huawei (China), Cisco (US), Ericsson (Sweden), and ZTE (China).