New York City, NY, 04 October, 2019/ 24 Market Reports: 4G LTE is the latest available broadband service in the mobile market. The present era gadgets provide users with most advanced features of a computer handy. The increasing number of internet users in mobile devices such as phablets, tablets, and smartphones are the reason for the increased usage of mobile broadband services across the globe. The need for high-speed internet is been boosted by the development of mobile applications that provide video calls, video streaming, and many other real-time functioning features.
Primary factors that are driving the growth of the market are the increased needs for higher data rates and greater spectral efficiency. Also, the market is been exponentially driven by the implementation of LTE in the public sectors and as the applications require high-speed communication the LTE is the best-suited network. APAC is the fastest-growing mobile broadband market due to rising customer preferences leading to the need for the high-speed mobile broadband facility.
Technology, application, and geography are the segmentation for the world LTE market. LTE FDD, CTE TDD, and LTE advance are the categories for the LTE market based on technology. M2M & connected device, VoLTE, public safety LTE, video on demand, surveillance browsing & large enterprise, defence & security, and others are the categories based on the application segment.
Geographically, the market is segmented into four regions Europe, Asia Pacific, North America, and ROW under the application segment, in the others category the browsing, surveillance and large enterprise accounted for over 35% of the market share in 2012 and is expected to continue the dominance throughout the forecast period. However, defence & security sector to remain the fastest-growing market during the forecast period.
With the increasing mobile users, there is a scarcity in the available bands for data transfer. The specific band of radiofrequency waves the medium for providing LTE services. The companies are been allotted specific band of spectrum for providing these services. The availability of limited spectrum is posing a barrier to manufacturers who manufacture LTE supporting devices.
In the year 2015, the Asia Pacific market held the largest market share with a total share of 34.5% which raised to 35.5% in the year 2016. The Asia Pacific market is followed by North America. The Asia Pacific market revenue share is expected to rise at a CAGR of 17% during the forecast period. Asia Pacific, Middle East & Africa, and European markets to contribute significantly for the growth of the 4G LTE devices market.
Major Industry Outlook Of 4G LTE Devices