Long-term Evolution (LTE) Market Forecasts to 2030 – Global Analysis By Device Type (Smartphones, Tablets, Vehicles, Wearables, Gaming Consoles and Other Device Types), Technology, Application, End User and by Geography

Long-term Evolution (LTE) Market Forecasts to 2030 – Global Analysis By Device Type (Smartphones, Tablets, Vehicles, Wearables, Gaming Consoles and Other Device Types), Technology, Application, End User and by Geography

According to Stratistics MRC, the Global Long-term Evolution (LTE) Market is accounted for $42.50 billion in 2024 and is expected to reach $123.03 billion by 2030 growing at a CAGR of 19.38% during the forecast period. 4G also refers to a standard for wireless broadband communication known as Long-Term Evolution (LTE). In order to increase the speed and effectiveness of mobile networks, the 3rd Generation Partnership Project (3GPP) developed it. With respect to its predecessors, LTE provides lower latency, increased capacity, and faster data transfer rates. As such, it is perfect for a variety of uses, ranging from video streaming and mobile browsing to VoIP and Internet of Things applications.

According to the International Telecommunication Union (ITU), LTE has significantly transformed the mobile broadband landscape by providing faster and more reliable connectivity, which has become essential for supporting the increasing demand for data-intensive applications and services worldwide.

Market Dynamics:

Driver:

Growing need for fast internet

Fast and reliable internet connections are essential to the modern digital ecosystem. Seamless data services are in more demand as customers use their mobile devices for social media, online gaming, and streaming high-definition videos. LTE satisfies this requirement by providing fast data transfer that lowers latency and buffering while improving the user experience. Additionally, LTE's significance in the market has been further reinforced by the COVID-19 pandemic's spread of remote work and online learning, which has increased the demand for dependable high-speed mobile data.

Restraint:

Exorbitant costs of infrastructure

A large amount of infrastructure investment is needed for the deployment of LTE networks, including new cell tower construction, tower upgrades, and spectrum license purchases. These expenses may be unaffordable, particularly in areas with difficult terrain or sparse populations. In situations where there is uncertainty about the return on investment (ROI), telecom operators might find it difficult to justify these investments. Furthermore, the total cost is further increased by the continuous upkeep and modernization of LTE infrastructure to stay up with technological breakthroughs, placing a heavy financial strain on operators, especially in developing nations with limited funding.

Opportunity:

Construction of private LTE networks

There is a significant opportunity in the growing interest in private LTE networks, especially among businesses and industrial sectors. Compared to public networks, private LTE networks provide businesses with improved security, dependability, and customization options, as well as more control over their communication infrastructure. In order to facilitate vital applications like automation, real-time monitoring, and the Internet of Things, industries like manufacturing, logistics, mining, and oil and gas are progressively implementing private LTE. Moreover, the demand for private LTE solutions is anticipated to increase as the need for high-performance, secure networks increases, especially in situations where public networks might not be adequate.

Threat:

Increasing rivalry with 5G technology

The market for LTE is seriously threatened by the introduction of 5G technology. 5G is swiftly gaining popularity around the world with promises of incredibly fast speeds, extremely low latency, and the capacity to connect a large number of devices concurrently. There's a chance that 5G infrastructure will be viewed as more advanced than LTE as telecom operators make significant investments in it and consumers' desire for cutting-edge technology grows. Additionally, this belief may result in fewer LTE deployments and fewer investments in LTE infrastructure, especially in areas where 5G adoption is accelerating.

Covid-19 Impact:

The Long-Term Evolution (LTE) market was negatively and positively impacted by the COVID-19 pandemic. Reliability and high-speed LTE networks are necessary because of the rise in remote work, online learning, and the demand for digital entertainment, which all contributed to an increase in data consumption. In many regions, this hastened network expansion and infrastructure investments. However, the pandemic also brought about delays in infrastructure projects, especially in developing markets, and economic uncertainty as well as disruptions to supply chains. Further delaying the adoption of new LTE-enabled devices and services was cautious spending brought on by the financial strain on consumers and businesses.

The Smartphones segment is expected to be the largest during the forecast period

The Long-Term Evolution (LTE) market is dominated by the smartphone segment. The primary reason for this dominance is the widespread use of smartphones as the primary device for accessing mobile broadband services, which has occurred throughout the world. The need for high-speed internet has increased due to the growth of social media, streaming services, and mobile applications; therefore, LTE is necessary to provide a seamless user experience. Additionally, smartphones ongoing development into increasingly sophisticated devices with bigger data capacities and more features reinforces their dominance of the LTE market.

The LTE-Advanced Pro segment is expected to have the highest CAGR during the forecast period

The LTE-Advanced Pro market is expected to grow at the highest CAGR in the Long-Term Evolution (LTE) segment. With improved capabilities targeted at enhancing network performance and user experience, LTE-Advanced Pro, also referred to as LTE-Advanced Pro or LTE-A Pro, is an evolution of LTE-Advanced. It's a major improvement over its predecessors, bringing features like improved carrier aggregation, higher peak data rates, and support for Internet of Things (IoT) applications. Furthermore, the technology is gaining traction in the market quickly because of its ability to manage higher data traffic volumes and offer more dependable, efficient connections.

Region with largest share:

The market for long-term evolution, or LTE, is dominated by Asia-Pacific. The early adoption of LTE technology, large investments in network infrastructure, and high smartphone penetration rates in this region are the main factors contributing to its dominance. Utilizing LTE to improve connectivity and satisfy the rising demand for fast mobile data, nations like China, India, and South Korea have been at the forefront of the technology's deployment. Moreover, the area's continued development of 4G networks and the shift to 5G support its dominant position in the LTE market.

Region with highest CAGR:

The Long-Term Evolution (LTE) market is growing at the highest CAGR in the Latin America region. A growing number of mobile users, rising infrastructure investments in the telecommunications sector, and an increasing demand for high-speed internet connectivity are the main drivers of this growth. Latin American nations are gaining a substantial portion of the market growth as they strive to modernize and extend their LTE networks. Additionally, this growth is being aided by partnerships and government initiatives that enhance digital infrastructure and reduce connectivity gaps.

Key players in the market:

Some of the key players in Long-term Evolution (LTE) market include Broadcom Corporation, ZTE Corporation, Qualcomm Inc., Apple Inc., Verizon Communications Inc., Samsung Electronics Co. Ltd., Ericsson Inc., Cisco Systems, Vodafone Inc, Altacel-Lucent S.A., Nokia Corporation, Microsoft Corporation, Huawei Technologies Co. Ltd., AT&T Inc., NEC Corporation, HTC Corporation and NTT DoCoMo Inc.

Key Developments:

In January 2024, Swedish telecom gear maker Ericsson Friday said it has signed two seven-year funding agreements with the European Investment Bank (EIB) for a total of 420 million euros to finance parts of the company’s research and development in wireless technology up to 2025, and strengthen the balance sheet.

In December 2023, Broadcom is terminating all of its partner agreements with VMware resellers and service providers, killing VMware’s partner program and sales incentives, and then forcing existing partners to reapply for their roles, according to Broadcom. Broadcom will tell partners next month whether they will be allowed to continue to sell its virtualization software.

In October 2023, Samsung Engineering Co., Ltd. (SECL) and Carbon Clean have signed a Joint Development Agreement (JDA) to explore opportunities for Onboard Carbon Capture solutions (OCCS) projects. Samsung Engineering Co., Ltd. (SECL) is an engineering solutions and project management company and Carbon Clean is a global player in point source carbon capture.

Device Types Covered:
• Smartphones
• Tablets
• Vehicles
• Wearables
• Gaming Consoles
• Other Device Types

Technologies Covered:
• LTE-TDD (Time Division Duplex)
• LTE Advanced
• LTE-Advanced Pro
• LTE-FDD (Frequency Division Duplex)
• Other Technologies

Applications Covered:
• Video on Demand
• VoLTE (Voice over LTE)
• High Speed Data Services
• Defense and Security
• Other Applications

End Users Covered:
• Oil & Gas
• Mining
• Transportation
• Manufacturing
• Telecom and IT
• Consumer Electronics
• Other End Users

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2022, 2023, 2024, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements