Global Long Term Evolution (LTE) Market- Segmented by Technology (LTE-TDD, LTE Advanced, LTT-FDD), Applications (Video on demand, VoLTE, High Speed Data Services, Defense and Security), and Region - Growth, Trends, and Forecast (2018 - 2023)
Global long-term evolution market is expected to register a CAGR of 42.69%, during the forecast period (2018 - 2023). The scope of the report is limited to Type of technology offered by major players, which involves LTE-TDD, LTE Advanced, LTT-FDD. While the applications considered in the scope of the report include Video on demand, VoLTE, High Speed Data Services, Defense, and Security.
Long Term Evolution (LTE) is usually a standard for high-speed wireless communication developed by 3GPP. The connection speeds in such a standard are bound by a minimum and a maximum. The peak of the mobile connection speeds include 100 megabits/second while mobile hotspots are expected to have 1 gigabit/second. Growing adoption of public safety LTE is also driving the growth of LTE services in the country.
Need For Higher Data Rates and Better Spectral Efficiency has Deemed the Need for Use of LTE Services
Many businesses have been growing in the need for data owing to digitization of every aspect of business. Telecommunication companies have been making enormous investments in new wireless technologies and they are looking for better applications to provide pay offs. Smaller businesses have also cited the lack of better connectivity in terms of data services is one of the inhibiting factor for the growth of businesses. Businesses have been increasingly deploying BOYD devices in the work environments to ease the hassles of work for the employees. Owing to such trends the need for better data connectivity and speeds has increased which drives the growth of LTE services. The continuous proliferation of smartphones has increased the data consumed by average man and has increased the need for LTE services.
Growth of VoLTE Services Have Been Driving the Growth for LTE Services.
VoLTE services deliver voice calls in the same channel as data calls, which eliminates the need for a different channel for voice calls. These services provide an efficient use of the spectrum. Many recent trends have been contributing to the popularization of such trends in developing countries, such as India. The recent launch of Reliance Jio in India has been a contributing factor for the growth of VoLTE services in the country. Korea has also become the first country, which has migrated to a fully interconnected VoLTE services with the help of GSMA, ministry of science, ICT, and future planning. This trend is expected to continue further in the future owing to various.
Asia Pacific Has High Growth Potential Owing to the Growing Use of Data in the Region
LTE standard is relatively a new form of technology compared to other regions and the region has lesser internet penetration compared to other mature markets indicating the scope for development. Internet penetration rates for India and China vary at 34.8% and 52.2%, which indicates a lot of potential for growth of data services, countries, such as Indonesia are still at a meager 20% according to the United Nations Population Division. Smartphones penetration in the countries has grown exponentially in the recent years. It is estimated that almost 87% of the populations have access to smartphones. In countries, such as Hong Kong, Singapore, and Australia the number is expected to further rise.
Key Developments In The Market