Long Term Evolution Market Outlook 2031:
The global long term evolution market size was valued at USD 29.84 Billion in 2022 and is projected to reach USD 169.65 Billion by 2031, expanding at a CAGR of 21.3% during the forecast period 2023 - 2031. The growth of the market is attributed to rising demand for high mobile data and improved user experience.
Long term evolution is standard for wireless broadband communication for data terminals and mobile devices, based on UMTS/HSPA and EDGE/GSM technologies. It increases speed and capacity of cellphones and other devices using several radio interfaces.
It offers scalable bandwidth capacity, reduced latency, and backward compatibility with the existing universal mobile telecommunication service (UMTS) and Global system for mobile communication (GSM) technology. LTE provides fast audio and video streaming, carrier aggregation, and real time connection to services.
Long Term Evolution Market Trends, Drivers, Restraints, and Opportunities:
- Arrival of new devices and applications, enhanced spectrum efficiency, and growing data traffic are expected to be the major factors driving the LTE market.
- Necessity for uninterrupted video and audio streaming is estimated to fuel the market.
- With rising 4G exposure, the LTE market is projected to propel during the forecast period.
- 4G technologies provide policy-based real time application and mobile convergences such as VoIP, messaging integrated with video clips, push to talk dispatch, and two way telephony.
- 4G technology-integrated devices aids consumers to watch uninterrupted videos regardless of their location.
- Enhancement of new mobile applications that offer video streaming, video calls, and several other real time applications, raised the demand for high speed mobile internet, which in turn, is projected to drive the market.
- Lack of infrastructure led to issues such as network complexity and device compatibility, which are anticipated to hamper the market growth.
Scope of the Long Term Evolution Market Report:
The report on the long term evolution market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Long Term Evolution Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023–2031
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Segmentation
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Technology (Division Duplexing (FDD) and Time Division Duplexing (TDD)), Applications (VoLTE, Video on Demand, High Speed Data Service, Defense & Security, and Others), and Regions
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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SK Telecom, Huawei Technologies Co. Ltd., Alcatel-Lucent, KT Corporation, Nokia Solutions & Networks, Metro PCS, Verizon Wireless, Ericsson, and LG Uplus
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Long Term Evolution Market Segment Insights:
The frequency segment is projected to hold a major market share during the forecast period
Based on technology, the global long term evolution market is bifurcated into frequency division duplexing (FDD) and time division duplexing (TDD). The frequency division duplexing segment is expected to expand at a high CAGR during the forecast period.
The VoLTE segment held a major market share of the total revenue in 2017
On the basis of applications, the global long term evolution market is segregated as VoLTE, video on demand, high speed data service, defense & security, and others. The VoLTE segment is estimated to expand at a high CAGR during the forecast period. VoLTE service eradicates the need for different platforms for voice calls by transporting voice calls in the same channel.
VoLTE offers HD video and voice calls with additional coverage and increased battery life. Latest technological advancements are propelling the adoption and popularization of these services in developing countries such as China and India.
The market in Asia Pacific is expected to expand at a rapid pace during the forecast period
In terms of regions, the global long term evolution market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The market in Asia Pacific is projected to hold a major share of the total revenue during the forecast period. LTE is a new technology in this region, as the region has low internet penetration as compared to other markets.
Thus, the LTE market has large scope in this region. Usage of smartphones increased in recent years and is expected to expand the market in the region during the forecast period. Increasing demand for high speed broadband and changing consumer preference in the region is expected to drive the market in the region. Rapid industrial growth & urbanization and enhancement in communication technology are anticipated to be the major factors boosting the market in the region.
Segments
The global long term evolution market has been segmented on the basis of
Technology
- Division Duplexing (FDD)
- Time Division Duplexing (TDD)
Applications
- VoLTE, Video on Demand
- High Speed Data Service
- Defense & Security
- Others
Regions
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
- SK Telecom
- Huawei Technologies Co. Ltd.
- Alcatel-Lucent
- KT Corporation
- Nokia Solutions & Networks
- Metro PCS
- Verizon Wireless
- Ericsson
- LG Uplus
Competitive Landscape
Key players in the global long term evolution market include SK Telecom, Huawei Technologies Co. Ltd., Alcatel-Lucent, KT Corporation, Nokia Solutions & Networks, Metro PCS, Verizon Wireless, Ericsson, and LG Uplus.
Rapid industrial growth, urbanization, and development in communication technology are the major factors driving the market.
In 2018-2019, the first NSA 5G technology was launched and was widely available.
In 2007, Ericsson, a Swedish telecom company, launched LTE with a bit rate of 144 Mbps. In 2016, Huawei launched 4.5G technology. The 4.5G evolution is segregated into three steps Go Giga, Go Cloud, and Go Vertical. In 2018, Nokia massive MIMO was used to increase LTE network capacity in the USA, China, Europe, and Asia Pacific.
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