Mobile devices refer to portable, compact, and lightweight computing devices featured with touch or non-touch display screens and sometimes a mini keyboard. These devices support 4G connectivity and are used to carry out day-to-day computing tasks including web browsing and running software applications. Common types of mobile devices include mobile phones, smartphones, tablets, personal digital assistant (PDA), pagers, and navigation devices. There has been a global increase in the use of 4G (LTE) devices and this has led to an exponential growth of the global 4G (LTE) devices market.
In terms of value, the global 4G (LTE) devices market is anticipated to expand at a CAGR of 13.1% during the forecast period (2016 – 2024) and is expected to account for US$ 926.1 Bn by 2024 end. Among all products in the mobile devices market, 4G (LTE) devices are projected to be the fastest growing segment over the forecast period. Smartphone is anticipated to be the fastest growing segment of the global 4G (LTE) devices market over the forecast period owing to continuous innovation in devices to utilize advanced network services. Out of the total 4G (LTE) devices, the smartphone segment accounts for over 80% of the global 4G (LTE) devices market share by value.
Growing adoption of smartphones in developing countries and government initiatives for implementing technological advancements in networking infrastructure are the primary factors fueling a robust growth of the global 4G (LTE) devices market during the forecast period. Other factors contributing to market growth include growing demand for advanced networking technology, emergence of a wide range of new and robust connectivity options owing to the development of the Internet of Things (IoT), and growing consumption of HD video content. Increasing competition among both international and local device manufacturers offering a bundled solution of network and devices is expected to attract more consumers making the solution more affordable and technologically advanced. This further supports the growth of the global 4G (LTE) devices market during the forecast period.
However, regulatory uncertainties and lack of awareness about 4G (LTE) is likely to slow down market growth over the forecast period.
The global 4G (LTE) devices market offers good opportunities for manufacturers owing to an increasing demand for low cost smartphones in developing regions and the rising impact of IoT on 4G (LTE) devices.
The global 4G (LTE) devices market is segmented as under:
In terms of value, the low price range segment in the Asia Pacific 4G (LTE) devices market accounted for 37.6% share in 2015. The developing countries in this region showcase huge potential for low-end 4G (LTE) smartphones and tablets due to the advancements in network infrastructure. Globally, the single brand store distribution channel segment is expected to witness significant growth over the forecast period as compared to the multi brand store and online distribution channel segments, which are expected to witness relatively flat growth rates over the forecast period.
The global 4G (LTE) devices market is segmented into the five key regions of North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. The Asia Pacific 4G (LTE) devices market held the largest market share of 34.8% in 2015 in terms of value and is estimated to account for 35.9% revenue share in 2016, followed by the 4G (LTE) devices market in North America. Revenue contribution from the 4G (LTE) devices market in Asia Pacific is expected to increase at a CAGR of 17.1% from 2016 to 2024. In the North America region, market share of the smartphone segment is anticipated to witness a decrease from 74.9% in 2015 to 68.8% in 2024. This is due to the introduction of other innovative smart devices that use advanced networking technologies. The markets in Europe, Asia Pacific, and Middle East & Africa are expected to contribute significantly to the overall revenue growth of the global 4G (LTE) devices market. Sales of 4G (LTE) devices in the Latin America and Middle East & Africa regions is estimated to collectively account for over 12% market share in terms of value of the global 4G (LTE) devices market by 2016 end.
Key market players
Some of the leading companies operating in the global 4G (LTE) devices market are Apple Inc., Samsung Electronics, ZTE Corporation, Huawei Technology Company Limited, Lenovo Group Limited, ASUSTeK Computer Inc., Xiaomi Inc., and LG Electronics Inc. Top market companies are focusing on increasing their offline presence by partnering with local retailers and are also making a swift strategic transition from 3G to 4G cellular data consumption.
Persistence Market Research offers an eight-year forecast for the global 4G (LTE) devices market between 2016 and 2024. The primary objective of the report is to offer insights on the advancements in the global 4G (LTE) devices market. The study demonstrates key market dynamics that are expected to influence the current environment and future status of the global 4G (LTE) devices market over the forecast period. The report offers updates on trends, drivers, restraints, value forecasts, and opportunities for manufacturers operating in the global 4G (LTE) devices market.
The report begins with a market overview and talks about the market share of the global 4G (LTE) devices market by splitting the market on the basis of device type, price range, and distribution channel segments. A section of the report highlights region wise demand for 4G (LTE) devices across the five key regions of North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. It provides a market outlook for 2016–2024 and sets the forecast within the context of the global 4G (LTE) devices market, including new technological developments as well as product offerings in the global 4G (LTE) devices market. This study discusses key regional trends contributing to the growth of the 4G (LTE) devices market globally and analyses the degree to which drivers are influencing the market in each region.
In the final section of the report, a competitive landscape has been included to provide report audiences with a dashboard view of key players operating in the global 4G (LTE) devices market. Top companies covered in the report are 4G (LTE) devices manufacturers such as Apple Inc., Samsung Electronics, ZTE Corporation, Huawei Technology Company Limited, Lenovo Group Limited, ASUSTeK Computer Inc., Xiaomi Inc., and LG Electronics Inc. The report discusses how the overall competition in the market is steadily increasing and analyzes the various factors shaping internal as well as external competition in the market. Overall internal competition in the global 4G (LTE) devices market is likely to be high due to the presence of a substantial number of international and domestic providers of 4G (LTE) mobile devices in the market. Various barriers restricting entry in the industry are analyzed and rated on the basis of their impact on the competition levels in the market.
Key Segments Covered
A detailed analysis has been provided for each segment in terms of market size analysis for 4G (LTE) devices across the globe.
The forecast presented in this report assesses the total revenue generated across the global 4G (LTE) devices market. In order to offer an accurate forecast, the report begins by sizing up the current market, which forms the basis of how the global 4G (LTE) devices market is likely to perform in future. The report takes into account extensive secondary research to determine top industry players and overall market size. Region wise and segment wise data has also been acquired through interviews with key stakeholders in the global 4G (LTE) devices market. Data gathered through primary and secondary research is validated by the triangulation method and further scrutinized using advanced tools to obtain useful qualitative and quantitative insights. Given the ever-fluctuating nature of the global economy, the report not only takes into account forecasts conducted in terms of CAGR, but also analyzes the market on the basis of key parameters such as year-on-year (Y-o-Y) growth to understand market predictability and to identify the right opportunities across the global 4G (LTE) devices market.
Another key feature of this report is the analysis of all key segments in terms of absolute dollar opportunity, traditionally overlooked while forecasting the market. Absolute dollar opportunity is critical in assessing the level of opportunity that a provider can look to achieve, as well as to identify potential resources from a sales and delivery perspective in the global 4G (LTE) devices market. Further, to understand key market segments in terms of growth and performance, Persistence Market Research has developed the global 4G (LTE) devices market attractiveness index to help providers identify real market opportunities across the global 4G (LTE) devices market.