What indeed sounds astonishing is the technological strides that shows us the reach of human brain. Increasing technological advancements have made our lives even better than before. The best part about our technological geniuses is that they do not stop after inventing something interesting in tech world, they consistently try to keep it updated and launch a higher version of their product. There is one such phenomenal technology that out performs the traditional 3G services and is adept at delivering spot on solution for the rising needs of customers.
Significance of LTE technology market is increasing due to its high speed and connectivity. A crisp report by Allied Market Research also pinpoints that the LTE technological market has a bright future. Their report showered important facts about global LTE market that would help investors to plan their foray strategies in this market.
So, what does AMR report predict about LET market?
As per the observation made by this report, global LTE technology market would grow exponentially and reach a figure of $997 billion by 2020. This would complement with a stupendous CAGR of 58.2% from 2013 to 2020.
What does the report predicts about Asia Pacific region?
- By 2020, Asia Pacific region would have a share of about 40% in the overall geographical market
- It would stand at $390 billion by 2020
- It would grow at CAGR of 71.5%.during 2013-2020
Factors that would work favorable for Asia Pacific market:
- Increase in customer awareness about features of LTE
- improvement in QoS
- Salesof advanced gadgets
- Supportive 4G network
Factors that drive the overall LTE market:
- Rising demand
- Rise in need of high data rate
- Rise in public sector demand
- High efficiency
- Rise in demand for quality services
Report suggested that major telecom firm should work on their network services to provide consistent and high network coverage, which is currently a big challenge to such firms.
Segmentation of LTE market:
- Frequency division duplex
- Time division duplex
- LTE Advance
Time division duplex is expected to generate highest revenue and LTE advance segment is observed to grow the fastest among all the three segments during the estimated period.
Report also profiled important firms that impact the growth of LTE market:
- AT&T Inc,
- NTT Docomo. Inc,
- Alcatel Lucent
- Verizon Communication.Inc,
- Bharti Airtel Ltd.
- LM Ericsson
- Vodafone Group Plc.
- Nokia Solutions and Networks B.V.
- Huawei Technologies Co. Ltd.
- China Mobile Ltd.