LTE Equipment Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2017 - 2025
Albany, NY -- (SBWIRE) -- 09/14/2018 -- The vendor landscape of the global LTE equipment market is intensely competitive in terms of product features and costing owing to the high concentration of service providers, observes Transparency Market Research in a recent report. In a bid to improve their standing in the global market, well-established players are focusing on increasing their network coverage area. Focus on differentiating their offerings from those of their competitors and adding innovative technologies to their product portfolio has also increased substantially in the market.
With the presence of several large players in the market, mergers and acquisitions have become crucial to gain competitive advantage. Some of the leading players in the global LTE equipment market are Ericsson AB, Huawei Technologies Co., Ltd, Motorola Solutions, Fujitsu Limited, Nokia Corporation, AT&T Inc., ZTE Corporation NEC Corporation, Sprint Corporation, and Telrad Networks.
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According to the report, the global LTE equipment market is expected to reach a value of US$104.49 bn
In terms of application, the commercial sector is presently the leading contributor of revenue to the global market. While the segment is expected to remain a key source of revenue over the forecast period as well, the government sector is also expected to grow at a healthy pace and account for a significant share in the overall market over the forecast period.
Geographically, the market in Asia Pacific held the dominant chunk in the overall revenue of the global market in 2016, trailed by the North America market. The Asia Pacific market is also expected to remain the leading regional market in terms of revenue contribution as well as growth pace over the report's forecast period. The strong position of the Asia Pacific market can be attributed to the rising demand for high-speed internet and increased availability of internet-enabled devices at lower prices in emerging economies such as India and China and the presence of several leading manufacturers in the region. The Asia Pacific market is likely to expand at a massive 23.5% CAGR over the forecast period.
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The demand for LTE equipment is increasing significantly in various application segments. Companies are investing heavily in development and improvement of networks with rising demand for high speed data services and to meet the growing consumer demand. Significant rise in sales of smartphones due to technological advancements and gradual decline in prices of internet-enabled devices are also playing a key role in the increased global demand for LTE equipment.
The market is also expected to massively benefit from the immense pace of expansion of high-speed internet networks, increased adoption of several IoT solutions and automaton for industrial and commercial purposes, and reduction in cost of LTE equipment owing to intense price competition among vendors and the rising number of product varieties in the market. Owing to the rapid deployment of LTE and LTE-Advanced, many wireless carriers and vendors have started investing more in R&D activities to come up with innovative products capable of supporting the thriving LTE ecosystem.